Senegal is moving to expand its oil and gas sector with a US$100 million onshore exploration campaign, led by the state-owned company Petrosen, following the revocation of licenses from operators who had made little or no progress on their concessions.
Oil gained as tensions in the Middle East outweighed concerns that there is a supply glut building in the market.
In its latest short term energy outlook (STEO), which was released on February 10, the U.S. Energy Information Administration (EIA) projected that the average Brent spot price will drop in 2026 and 2027.
Saudi Aramco has begun production of light oil (condensate) from its $100 billion Jafurah unconventional gas project, after the company completed Phase 1 construction of the 450-MMcf/D-capacity gas plant. This marks the first export of liquids from the massive field, which is primarily designed to produce natural gas.
Aquaterra Energy wins multi-well offshore Spain intervention and P&A contract
Harbour Energy has completed its $3.2-billion acquisition of LLOG Exploration Company LLC, marking the company’s strategic entry into the U.S. Gulf of America and establishing a new core business unit within its global portfolio.
Venezuela’s crude oil production could increase dramatically as soon as this year, U.S. Energy Secretary Chris Wright said during his visit in the South American country.
The U.S. government issued a general license to allow oilfield-service companies to work in Venezuela as the Trump administration eases sanctions and pushes to rebuild the nation’s crude infrastructure.
Syria expects to award oil and gas exploration licenses to major international oil firms as it looks to tap its estimated huge reserves, the chief executive of the state-owned Syrian Petroleum Company told the Financial Times in remarks published on Wednesday.
TGS has launched a multi-client 2D seismic survey over Angola’s ultra-deepwater acreage, the company announced on Wednesday.