The discovery was made on the Vidsyn ridge, which has the potential to hold up to 100 million barrels of oil equivalent (MMboe) gross. The Vidsyn well confirms discovered recoverable resources in the range of 25 to 40 MMboe gross, which are considered commercial. The remaining potential of the ridge will be assessed through an appraisal program, to facilitate for a fast-track development.
Pipelines are the unsung backbone of the global energy system–quietly moving billions of barrels of oil and trillions of cubic feet of gas with unmatched efficiency, reliability, and scale. In the U.S., they handle nearly 70% of all petroleum shipments, or over 14 billion barrels annually, without the headlines or volatility of seaborne trade.
The United States could abandon the International Energy Agency (IEA) if the organization, created in the aftermath of the 1970s Arab oil embargo, doesn’t return to forecasting energy demand without strongly promoting green energy.
From pioneering technologies that shattered geological limits to building empires that outmuscled governments, these oil titans didn’t follow the energy industry — they dragged it behind them. Some were wildcatters with nothing but a hunch and a homemade rig.
Crude oil inventories in the United States decreased by 3.9 million barrels during the week ending July 11, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 422.2 million barrels according to government data, which is still 8% below the five-year average for this time of year.
Venture Global and Itay’s Eni today announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 MMtpa of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years.
Seatrium Limited has announced the impending delivery of the PETROBRAS 78 (P-78) – the first of a series of turnkey Floating Production Storage and Offloading vessels (FPSO), to Brazil’s Petrobras.
The Association of the Petroleum Industry of Kurdistan (APIKUR) has spoken out condemning attacks on oil production sites operated by APIKUR member companies in Iraq’s Kurdistan Region that occurred on July 15 and July 16, 2025.
Activity is slowing in U.S. oil fields as drillers remain in the crude-price danger zone for profits, according to one of the biggest investors of private operators in the shale patch.
TotalEnergies is reviving its USD 20-billion LNG project in Mozambique’s Cabo Delgado province after the government declared conditions safe for operations to restart, Lusa reported on Monday.