Akrake Petroleum Benin, an indirect subsidiary of Rex International Holding, has achieved first oil from the AK-2H well at the Sèmè Field Block 1 offshore Benin, as drilling complications and cost overruns prompt a strategic and financial review.Lime Petroleum, the parent company of Akrake Petroleum Benin, said the production from the AK-2H well is expected to begin within the next two weeks after the first oil was achieved earlier in February…
Egypt has directed international oil companies to double production by 2030, Energean International CEO Nicolas Katcharov told Reuters on Tuesday, saying existing contracts must be revised to spur new investment.Katcharov said the low gas prices…
Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000-800,000 barrels of oil equivalent per day by 2035 due to maturing fields unable to meet its output targets, the company and analysts say…
Eni has shipped the first liquefied natural gas (LNG) cargo from Phase 2 of the Congo LNG project, marking the start of LNG exports from the Nguya floating liquefied natural gas (FLNG) unit offshore Congo.With the start-up of Phase 2, the Congo…
Equinor and Eneco have signed a five-year agreement for the supply of natural gas to the Netherlands, with deliveries of up to 0.5 billion cubic meters (bcm) per year.Under the agreement, gas deliveries to the Dutch gas grid began on February 1 this year…
Norwegian oil and gas firm Aker BP has started oil production from the Solveig Phase 2 development in the North Sea.The project has been delivered on schedule and within budget, adding approximately 39 million barrels of oil equivalent in recoverable resources to the Solveig field…
U.S. oil and gas major Chevron said on Friday turnarounds and downtime are expected to reduce its upstream production by 185,000 to 225,000 barrels of oil equivalent per day in the first quarter.The company added refinery turnarounds and downtime…
Shell Nigeria Exploration and Production Company has begun planned maintenance on its Bonga deepwater oil vessel, a move that will temporarily cut Nigeria’s oil export capacity by about 225,000 barrels per day but could extend the asset’s lifespan…
Japan’s largest power generator JERA has received the first liquefied natural gas (LNG) cargo from the Barossa Gas Project in Australia, marking the start of shipments from the project after production commissioning began last year.The Barossa project…
Energean on Tuesday forecast 2026 production of 140-150 thousand barrels of oil equivalent per day (kboed), below last year's numbers, as the gas producer looks to expand operations and boost output amid geopolitical disruptions.Shares of the FTSE-250 company were down 2…
Akrake Petroleum, an indirect subsidiary of Rex International Holding, is completing drilling operations on a key production well at the Sèmè field offshore Benin, with oil production expected to begin in early February.The drilling operations…
Beacon Offshore Energy has started oil and gas production from its Zephyrus field in the U.S. Gulf of America, with output from the initial well beginning in late December 2025.The Miocene-aged development is located in Mississippi Canyon Block 759…
Mexican conglomerate Grupo Carso, controlled by magnate Carlos Slim, will buy out Lukoil to hold a full stake in the Ichalkil and Pokoch offshore oil fields, the firm said in a filing on Monday.In the deal, Grupo Carso will buy Lukoil subsidiary Fieldwood Mexico for $270 million…
Kazakh oil producer Tengizchevroil, led by Chevron, said on Monday that it had temporarily halted production at the Tengiz and Korolev oilfields after an issue affected power distribution systems.The statement came a day after Kazakhstan's state…
Brazilian state-run oil firm Petrobras produced 2.40 million barrels of oil per day in 2025, up 11% from the previous year and surpassing the upper limit of the company's own target by 0.5 percentage points, it said on Thursday.Total oil and gas production reached 2…
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