Brazil's state-run oil firm Petrobras has acquired a 42.5% stake in Block 2613, offshore Namibia.The transaction was carried out in partnership with TotalEnergies, which also acquired 42.5% and will act as the operator of the block.TotalEnergies Secures Operated Interest in Namibia’s Offshore LicenseThe selling companies are Eight Offshore Investment Holdings and Maravilla Oil & Gas.After the completion of the transaction…
BAE Systems Launchpad is a new incubator program designed to take dual-use technologies beyond the defense sector and help innovations reach their full commercial potential.Launchpad directly addresses the challenge of moving defense technologies…
TotalEnergies has signed agreements to acquire a 42.5% operated interest in the PEL104 exploration license offshore Namibia from Eight Offshore Investments Holdings and Maravilla Oil & Gas.Following completion of the transaction, TotalEnergies will become operator of the licence with a 42…
ConocoPhillips said on Thursday it aims to cut capital and operating costs by $1 billion in 2026, after the U.S. oil and gas producer missed Wall Street estimates for fourth-quarter profit due to weaker crude prices.Benchmark Brent crude LCOc1 prices averaged at $63…
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…
SBM Offshore and ExxonMobil Guyana, an affiliate of ExxonMobil, have completed the transaction related to the purchase of One Guyana floating production, storage and offloading (FPSO) unit.The purchase was completed ahead of the maximum lease term which would have expired in August 2027…
Shell missed fourth-quarter profit expectations on Thursday with an 11% drop to the lowest level since early 2021 amid weaker oil prices, but kept its share buyback programme steady at $3.5 billion for the next three months.Profits at its integrated…
Chevron has signed a memorandum of understanding, or an initial agreement, with the Syrian Petroleum Company and the Qatari firm UCC Holding to evaluate exploration for oil and gas offshore Syria, a spokesperson for the U.S. major said on Wednesday…
Chevron and TotalEnergies are among the oil majors snapping up offshore blocks in West and Southern Africa as compelling geology, regulatory reforms, and the need to restock spur a hunt for the next Brazil.Companies are restocking their oil…
The Bureau of Ocean Energy Management, today announced another major step toward expanding offshore energy development pursuant to the One Big Beautiful Bill Act. BOEM released the Final Notice of Sale for Lease Sale Big Beautiful Gulf 2 (BBG2)…
Heavy-lifting and transport specialist Mammoet has signed a support contract with Seatrium to carry out the load-out of three offshore substations for TenneT’s 2 GW offshore grid connection program in the North Sea.Under the agreement, Mammoet…
Romanian OMV Petrom, majority-controlled by Austria's OMV, is gearing up to sign more contracts to supply clients with gas from its offshore Black Sea project as it nears completion in 2027, board member Franck Neel said on Wednesday, adding the company will not disclose all of them…
U.S oil major Chevron has renewed its commitment to the development of the Yoyo-Yolanda gas project that straddles the maritime border between Equatorial Guinea and Cameroon, the company said in a statement.In 2023 the two African countries…
Provider of energy data and intelligence TGS has secured a 4D streamer acquisition contract in the North Sea, offshore Norway.A Ramform vessel is scheduled to mobilize for the survey in the second quarter of 2026, with the contract expected to run for approximately 65 days…
Libya plans to boost its natural gas production in the next five years to have more supply available for export to Europe by early 2030, National Oil Corporation Chairman Massoud Suleman said on Tuesday.The country plans to increase gas production…
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