Finder Energy has agreed to acquire the Petrojarl I floating production, storage and offloading (FPSO) vessel from Amplus Energy for $15 million in cash and shares, in a move the company said will accelerate development of its Kuda Tasi and Jahal (KTJ) oil fields project, off Timor-Leste.The purchase price includes $6 million in cash and, subject to shareholder approval, the issue of about 37.2 million shares valued at $9 million…
BP, Chevron and Shell were among the top bidders on Wednesday at the U.S. government's first sale of oil and gas drilling rights in the Gulf of Mexico since 2023.The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U…
Oil major Shell said output at two of its offshore platforms in the U.S. Gulf of Mexico has been temporarily shut due to a shutdown of the Hoover Offshore Oil Pipeline System (HOOPS).The top producer in the U.S. Gulf said it expects its Whale and Perdido platforms…
Crude oil production in the United States is booming, reports Poten & Partners in its weekly opinion.According to the U.S. Energy Information Administration, U.S. Field Production of Crude Oil reached 13.8 Million barrels per day (Mb/d) in September 2025…
China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has started production from the Weizhou 11-4 oilfield adjustment and satellite fields development project in South China Sea.The project is located in the Beibu Gulf Basin…
European countries are loosening their strict opposition to new oil and gas drilling, reversing years of climate-driven resistance to fossil fuels as governments seek to reduce a heavy reliance on costly energy imports, including from the U…
The Energy Information Administration (EIA), which released data on Friday, showed that U.S. crude oil production reached a new record in September, despite concerns about oversupply.Oil production in the U.S. continues to reach record levels despite weak prices…
Seatrium has secured a contract from BP for the engineering, procurement, construction and onshore commissioning of the Tiber floating production unit (FPU) in the Gulf of America.The Tiber FPU marks Seatrium’s second consecutive deepwater project for BP…
TotalEnergies has completed the divestment of its non-operated interest in the Bonga deepwater field offshore Nigeria, selling its share to Shell Nigeria Exploration and Production Company (SNEPCo) and Eni.SNEPCo, a subsidiary of Shell, completed…
Drydocks World has completed the full conversion and integration of the EMEM Floating production storage and offloading (FPSO) unit, delivering a key offshore asset to support production at Nigeria’s Okwok field.The FPSO, converted from double-hulled tanker…
Moscow and Beijing have been discussing ways to expand Russian oil exports to China, Russian Deputy Prime Minister Alexander Novak said on Tuesday.China and India have become the main buyers of Russian oil since the start of Russia's military campaign in Ukraine in February 2022…
The weak statement that omitted any mention of fossil fuels was probably the best outcome that could have been realistically expected of the COP30 climate summit.It was always going to be a tall order to put nearly 200 countries with massively…
Libya's National Oil Corporation said it is approaching the final stage of a public exploration bid round, with companies expected to submit offers and open bids in February 2026, according to a statement on Thursday.The bid round, the first in over 17 years…
Norway's combined oil and gas production lagged an official forecast by 3% in October, the Norwegian Offshore Directorate (NOD) said on Thursday.Norway is Europe's largest supplier of natural gas and a major producer of oil, but output varies…
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…
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