Horizon Petroleum Ltd. announced substantial progress has been made towards first production from its cornerstone Lachowice gas development in the Bielsko-Biala concession, southern Poland.
The OPEC+ oil producer alliance is likely to make its next hike in collective output its last for a while, according to Goldman Sachs Group Inc.
With the producer club nearing the end of a first phase of jumbo output hikes, the market’s attention is turning to what will come after. The organization and its allies have been voluntarily holding back a second, smaller tranche of supply, propping up oil prices. Focus is now on the group’s intentions for those barrels.
Mach Natural Resources today announced its expansion into the Permian and San Juan basins with two acquisitions valued at a total of $1.3 billion. The assets purchased from Sabinal Energy and IKAV Energy will nearly doubles Mach’s production from 81 Mboed to approximately 152 Mboed, the company said in a news release.
Minister Nguema’s participation at AEW: Invest in African Energies 2025 will serve to advance the country’s oil and gas industry goals. During the event, he is expected to share insights into the country’s exploration and production landscape, highlighting upcoming investment opportunities and areas of collaboration. Through his participation, operators will gain first-hand insight into the country’s oil and gas sector.
The declaration was submitted by a joint venture comprising Eni Ghana Exploration & Production Ltd, Vitol Upstream Tano Ltd, Woodfields Upstream Ghana Ltd, and GNPC Exploration & Production Company Ltd (Explorco), in collaboration with the Ghana National Petroleum Corporation (GNPC).
Shell announced last December the final investment decision for the development of the Bonga North deep-water project. The project will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility.
Petronas said in a media release the event marked a significant milestone in Sabah’s energy growth with the official handover of the Sabah Gas Strategy, a project led jointly by Petronas and the state government. Guided by the Sabah Joint Coordination Committee, the strategy was crafted by a Joint Task Force including Petronas, SMJ Energy Sdn. Bhd., Sabah Energy Corp. Sdn. Bhd., the Energy Commission of Sabah, and the Ministry of Industrial Development and Entrepreneurship.
Shell’s sprawling but secretive in-house trading business is often one of its biggest profit boosters, and Chief Executive Officer Wael Sawan said in March that its traders haven’t lost money in a single quarter over the past decade. Yet recent price swings have been hard to navigate, with crude whipsawed by US President Donald Trump’s trade war, OPEC+ policy and Israel’s attacks on Iran.
The Ministry, together with the Petroleum Commission and GNPC, will provide regulatory oversight and support to ensure the development process is efficient and aligned with national interests. Further technical and commercial evaluations are expected to help shape a mutually beneficial development framework for the Eban-Akoma project.
Goldman Sachs, meanwhile, was quick to predict another oversized OPEC+ output hike in September, at 500,000 barrels daily. The bank issued the prediction on Sunday, saying “Saturday’s announcement to accelerate supply hikes increases our confidence that the shift, which we started flagging last summer, to a more long-run equilibrium focused on normalizing spare capacity and market share, supporting internal cohesion, and strategically disciplining US shale supply, is continuing.”