Lukoil had agreed to sell most of its foreign assets, estimated to be worth around $22 billion, to U.S. private equity firm Carlyle Group pending approval from the U.S. government, Russia's No. 2 oil producer said on Thursday.Under U.S. sanctions because of Russia's actions in Ukraine, the U.S. Treasury had given Lukoil until February 28 to sell its global portfolio.The sale, if it goes through, would end the foreign expansion of Lukoil…
Subsea7 has secured a sizeable contract by Shell for the Kaikias Waterflood project, a deepwater development in the Mars-Ursa Basin, off the Louisiana coast in the United States.The scope of work includes the transportation and installation of a subsea umbilical…
Shell and BP are seeking U.S. Office of Foreign Assets Control licenses to extract natural gas from fields in Trinidad and Tobago and Venezuela, the Caribbean country's energy minister Roodal Moonilal said on Wednesday.Shell is seeking a license to develop the Loran-Manatee discovery…
U.S. officials are working to issue a general license soon that would lift some sanctions on Venezuela's energy sector, four sources familiar with the preparation said on Tuesday, a shift from a previous plan to grant individual exemptions to…
Offshore drilling contractor Noble Corporation has secured new contract awards for nine rigs totaling about $1.3 billion in backlog, including a three-year deal that marks its entry into Norway’s harsh-environment floater market.The largest…
Nigerian President Bola Tinubu has approved 'targeted, investment-linked' incentives for Shell's Bonga South West deepwater oil project following a meeting with the company's CEO, Tinubu's office said.The proposed incentives are the latest in…
TMC Compressors has secured a contract by COSCO Shipping Heavy Industry to deliver a complete marine compressed air system to SBM Offshore’s newbuild floating storage and offloading (FSO) unit Chalchi.The FSO Chalchi is bound for deployment at the Trion deepwater oil field…
Britain's Harbour Energy on Thursday forecast 2026 production of 435,000 to 455,000 barrels of oil equivalent per day (boepd), excluding the impact of planned asset sales and the company's $3.2 billion acquisition of LLOG.The figures are lower than the 474…
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…
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…
U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes them to boost output in Venezuela - a move that would weaken the oil market, cut revenues and hurt industry at home.Trump has…
Shell has agreed to buy stakes in two undeveloped offshore blocks in ultra-deep waters offshore Angola from Chevron, the European energy major said on Tuesday.European oil majors have said they will spend billions in Angola, Sub-Saharan Africa's second-largest crude oil producer after Nigeria…
Offshore drilling contractor Borr Drilling has secured new contract commitments for two of its premium jack-up rigs, adding firm work in Mexico and the United States.Borr Drilling’s jack-up rig Ran has received a one-well extension from Italy’s Eni in Mexico…
The U.S. military’s ouster of Venezuelan President Nicolás Maduro is set to swiftly reroute the country’s oil exports back toward the United States – and away from China. That will give U.S. refiners an immediate boost, but President Donald…
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…
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