The Federal Government has tasked petroleum engineers and other industry professionals with supporting its drive to increase Nigeria’s crude oil production to three million barrels per day (bpd) by 2030. The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, gave the charge on Saturday at the inauguration of the sixth National Chairman of […]
Ghana’s upstream oil and gas sector is entering a potential recovery phase after several years of declining production and investor uncertainty. The government has resolved outstanding disputes with upstream operators, extended key licences and introduced gas-pricing reforms aimed at improving project economics and strengthening domestic energy security. Against this backdrop, the Petroleum Commission has confirmed […]
Oil prices settled lower on Friday, also down for the week as traders evaluated hints about the U.S. Federal Reserve Bank’s inflation-fighting policy and rumors of a possible agreement on shipping through the Strait of Hormuz.
Iraq is offering buyers of its crude the option to collect supplies from outside of the Persian Gulf for the first time since the Iran war began, highlighting resilient exports flowing through the Strait of Hormuz. The country’s state oil marketer, SOMO, is offering Basrah Medium and Heavy that can be collected by ship-to-ship transfer […]
NextOcean has secured a contract to install its WavePredictor vessel motion prediction technology aboard the ESVAGT NJORD service operations vessel (SOV), supporting offshore operations at the Dudgeon wind farm. The system uses motion radar and software to provide crews with real-time predictions of vessel movements minutes in advance. The information is intended to support go/no-go decisions for personnel transfers and […]
The U.S. is in talks with Venezuela to take a large stake in its oil fields, a dramatic move by the Trump administration to extend its influence on the post-Maduro government and the nation’s vast energy reserves. Negotiators from both countries are discussing the plan, according to people familiar with the matter who asked not […]
DNV has launched a new framework aimed at strengthening critical energy infrastructure as geopolitical tensions, cyber risks, digitalization and increasingly interconnected supply chains reshape the threat landscape facing the energy sector. The framework, presented Aug. 27 at the Offshore Northern Seas (ONS) conference in Stavanger, comes as DNV research indicates many energy organizations lack a comprehensive approach to […]
TotalEnergies has completed the transfer of its 10% interest in the Arctic LNG 2 project to NordLine, a subsidiary of Novatek, formally ending its ownership in the project. The company had previously disclosed the planned transfer while reporting its second-quarter 2026 results. Following completion of the transaction, TotalEnergies is no longer a shareholder in Arctic LNG 2. Under the […]
Ovintiv has entered into more than 60 transactions totaling approximately $460 million so far in 2026, adding about 41,000 net acres and 240 drilling locations across its Permian and Montney assets. The acquisitions are part of Ovintiv’s 2026 “ground game” program, which targets smaller transactions intended to expand and strengthen the company’s existing acreage positions. The 240 net locations include 190 base […]
Seatrium is preparing the P-80 and P-82 FPSOs to sail for Petrobras’ Búzios field offshore Brazil, where the two units will add a combined 450,000 bpd of oil production capacity. The FPSOs, which were christened Aug. 27 at Seatrium’s Tuas Boulevard Yard in Singapore, are expected to depart within weeks of each other for the Búzios field in the pre-salt Santos […]