Shell has failed to make a commercial discovery in its Falcao-1 exploration well on Block 10 offshore Sao Tome and Principe, the company said on Wednesday.'While the well did not encounter commercially viable hydrocarbons, the operation provided valuable insights into key aspects of the basin…
Blackstone is in talks to sell its Beacon Offshore Energy, which operates oil and gas assets in the U.S. Gulf of Mexico for more than $5 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter.The asset manager has…
Brazilian state-run oil firm Petrobras expects to start production at its P-79 oil platform in the Santos Basin in the second quarter, director for engineering, technology and innovation Renata Baruzzi told Reuters on Friday.Petrobras had previously…
The FPSO P-78 can produce up to 180,000 barrels per day and will increase the gas supply.Petrobras began oil production from the P-78 floating production, storage and offloading (FPSO) vessel in the Búzios field, in the pre-salt layer of the Santos Basin…
While challenges linger from the 2025 offshore rig market, there are signs it will look brighter from late 2026 onwards.Main Events of 2025One of the biggest talking points of 2024 and 2025 was Saudi Aramco’s suspension of 36 jackups from April 2024…
Saipem has been awarded two offshore contracts in Saudi Arabia, known as Contract Release Purchase Orders (CRPO), under its existing Long-Term Agreement with Aramco.The first contract (CRPO 162), with a duration of 32 months, encompasses the Engineering…
Energy markets enter 2026 in a downbeat mood as geopolitical uncertainty clouds the outlook and increasing signs of swelling oil and gas supplies threaten to sink prices.This past year was a wild one for the oil and gas industry, punctuated by the 12-day Israel-Iran war in June…
A strike at Brazil's Petrobras has reached workers in all offshore oil platforms in Campos basin, said local union FUP in a statement on Wednesday.The state-run oil firm said that so far the strike has had no impact on oil production, and that…
Shell is preparing to launch a new drilling campaign in the PEL 39 exploration block offshore Namibia from April 2026 with its partners QatarEnergy and Namibia's national oil company Namcor.Shell's Namibia country chair Eduardo Rodriguez said…
Shell is seeking a buyer for a 20% stake in its Brazilian oilfield cluster to help fund a multibillion-dollar offshore development, Bloomberg News reported on Tuesday, citing sources.Shell declined to comment on the report, when contacted by Reuters…
Britain will allow some new oil and gas production on or near existing fields, the government said on Wednesday, easing its stance on new licences while dashing oil and gas producers' hopes for an early end to windfall taxes on their sector…
TotalEnergies has signed agreements with Conoil to acquire a further 50% interest in oil exploration block OPL 257 from its Nigerian partner, bringing its holding to 90%, the French group said on Wednesday.The deal is part of efforts to consolidate…
Ghana has initiated talks to take over Springfield Exploration's stake in an offshore block holding an estimated 1.5 billion barrels of oil, the energy ministry said, as the country seeks to reverse falling output to bolster its economic recovery…
The Bureau of Ocean Energy Management announced a Proposed Notice of Sale for the second offshore oil and gas lease sale under the One Big Beautiful Bill Act. The proposed lease sale, known as Big Beautiful Gulf, or BBG2, is scheduled to take place on March 11…
A Norwegian appeals court ruled in favour of environmentalists and against the government on Friday by confirming a lower court's decision that the energy ministry's approval of the development of three offshore oil and gas fields was invalid…