The decline in output from mature global oil and gas fields is accelerating amid greater reliance on shale and deep offshore resources, the International Energy Agency said on Tuesday, meaning companies need to invest more just to keep output flat.The IEA, which advises industrialised countries, is under fire from U.S. President Donald Trump's administration for a recent shift to focus on clean energy policy…
Sable Offshore said on Monday it has begun selling oil from its Santa Ynez Pipeline System offshore California to Chevron, after resuming crude transportation earlier this month.Shares were up more than 3% in premarket trading.The pipeline system…
BP plans to carry out scheduled maintenance at the Central Azeri platform for 11 days in August 2026, the company's regional president for Azerbaijan, Georgia and Turkey Giovanni Cristofoli said.The shutdown will affect only the platform’s gas infrastructure…
Shell is currently troubleshooting parts of the subsea system at its offshore Ormen Lange gas field in the Norwegian Sea, where output has been curtailed since February 16, the company said on Thursday.Shell Norway has mobilised a vessel with a remotely operated vehicle (ROV)…
Eni announced the start-up of the Ndungu full-field, part of the Agogo Integrated West Hub Project (IWH), in the western area of Block 15/06, offshore Angola.The project comprises seven production wells and four injection wells, with an expected production peak of 60…
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…
BP's head of Trinidad and Tobago said on Monday the oil and gas major is still interested in cross-border opportunities with Venezuela, despite the government in Caracas suspending all bilateral energy agreements with its neighbor last year…
Brazilian state-run oil firm Petrobras and its logistics subsidiary Transpetro on Tuesday signed contracts with shipyards for five gas carriers, as well as 18 barges and 18 pushers, for 2.8 billion reais ($520.82 million).The companies made…
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…
Archer, in collaboration with SLB, has been awarded an integrated plug and abandonment (P&A) contract with Equinor for the Titan platform in the Gulf of America (GoA).The service offerings under the contract includes project management, well engineering…
Bulgaria's state-owned energy group Bulgarian Energy Holding will acquire a 10% stake in oil and gas exploration rights for the Han Asparuh block in the Black Sea, the government said on Wednesday.The Council of Ministers approved the deal, allowing BEH to buy 5% each from OMV Offshore Bulgaria…
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…
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…
Suriname's Staatsolie has approved the commercial declaration of the Sloanea gas discovery by Malaysia's Petronas at one of the country's most promising offshore areas, Block 52, the state-run company said on Thursday.The declaration follows…
China National Offshore Oil Corp (CNOOC) has completed building an integrated refining and petrochemical complex in eastern China, state news agency Xinhua reported on Friday.The 21 billion yuan ($2.9 billion) project, built on the Daxie Island of eastern coastal city Ningbo…
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