Since the Russian invasion of Ukraine, India has relied on the discounted Russian crude banned in the West to reduce its crude import bill. Indian refiners have significantly increased their purchases of Russian crude, making India the second-largest buyer of Russia’s oil, behind only China.
Iran claims a new natural gas discovery would add an estimated 10 trillion cubic feet to its gas reserves and could help offset an expected energy imbalance.
Europa Oil & Gas (Holdings) PLC has received a 12-month extension to the initial two-year term of the EG-08 exploration block from Equatorial Guinea’s hydrocarbons and mining development minister.
North America’s total rig count remained unchanged week on week, according to Baker Hughes’ latest North America rotary rig count, which was released on October 3.
Shippers were notified to have vessels ready as soon as early October to early November, according to the people, who asked not to be identified because the information is not public.
Baker Hughes will pay USD 210 in cash per share of Chart common stock, as per the agreement entered into by the companies in July 2025. The transaction is expected to close in mid-2026, subject to regulatory approval.
Zephyr Energy plc announced the results of an updated Competent Person’s Report (CPR) for its Paradox basin assets in Utah, revealing a major upgrade in reserves and resource estimates for the company’s flagship Paradox project. The report, compiled by Sproule-ERCE International Ltd., shows significant progress as the development advances toward full commercial production.
According to Emmanuelle Garinet, VP of Exploration Africa at TotalEnergies, Africa’s frontier basins hold significant volumes. She pointed to Namibia as an example of how seismic and subsurface data can de-risk projects: “When we decided to drill the Venus well, it was frontier, but we had a probability of success of more than 50% because of the seismic data and direct hydrocarbon indicators.”
Mr. Awotwi and Ing. Ohene-Akoto will join the World Energy Leaders’ Dialogue (WELD) alongside several high-level experts and leaders from across the globe to shape conversations for energy security, affordability and sustainability.
Saudi Arabia’s grand Vision 2030 ambitions may be colliding with a colder fiscal reality. Fitch Ratings warned Friday that Riyadh faces rising financial risks as oil prices soften and government spending balloons, threatening the kingdom’s plans for fiscal consolidation.