Angolan oil producer Etu Energias is pursuing accelerated oil production in Angola, with advancements in onshore exploration and offshore development positioning it to achieve its 80,000 bpd goal.
Russia and India are looking for ways to continue trading oil, and Russia has offered what it calls a special mechanism to the India side to ensure this—despite U.S. President Trump’s threat to impose an additional tariff of 25% on Indian exports if the country keeps buying Russian oil.
Russia and India are interested in collaborating on joint energy projects, including oil and gas production in Russia’s Far East and Arctic shelf, Russian Foreign Minister Sergei Lavrov said on Thursday after meeting with his Indian counterpart in Moscow.
The acquisition strengthens Kent’s presence in the market for decommissioning services, in which global annual spend is projected to grow from USD 8 billion to USD 16 billion by 2035, driven by the retirement of offshore infrastructure.
Aker BP has completed its Omega Alfa exploration campaign in the Norwegian North Sea, resulting in a significant oil discovery that adds substantial new resources to the Yggdrasil area. The recoverable volume is estimated at 96-134 million barrels of oil equivalent (MMboe).
ConocoPhillips has signed a long-term sales and purchase agreement (SPA) to purchase 4 million tonnes per annum (MMtpa) of liquefied natural gas (LNG) from the Port Arthur LNG Phase 2 project under development by Sempra Infrastructure.
Libya’s eastern parliament is poised to let Turkey explore for energy in the North African nation’s waters, according to people familiar with the matter, in what would be a dramatic about-face that’s the latest sign of warming ties between Ankara and the region.
Angola’s oil production fell below the million-barrels-a-day level for the first time since it quit OPEC two years ago.
Crude output declined to 998,757 bpd in July, the lowest level since March 2023, when average monthly production last dropped to six figures, according to Angola’s National Agency for Petroleum and Gas data.
According to the data, Nayara Energy has imported at least seven cargos of Russian crude on tankers that include sanctioned vessels, carrying a total of 700,000 barrels. Nayara Energy accounts for some 8% of India’s total refining capacity. It operates a 400,000-bpd refinery in Vadinar, which is the second-largest in the country. The facility is 49% owned by Russia’s Rosneft.
For the first time, the IBP study consolidates the various revenue sources generated by the sector, including ICMS, government takes (royalties and special participations), signature bonuses, the Federal Government’s profit-oil under production sharing contracts, and general federal taxes such as PIS/Cofins, CSLL, and Corporate Income Tax (IRPJ), all of which apply across the value chain.