Trump Delays Iran Strike After Gulf Allies Push for Diplomacy
President Donald Trump announced a postponement of a planned U.S. strike on Iran after Saudi Arabia, Qatar and the United Arab Emirates urged the United States to give diplomacy more time. The delay prompted a modest pullback in crude prices, signaling market relief amid heightened volatility. However, talks remain deadlocked over Iran’s enriched‑uranium stockpile and demands for sanctions relief and asset compensation. Meanwhile, drone incidents near the UAE’s Barakah nuclear plant and Saudi airspace keep regional security concerns high.
Argent LNG Gains Unanimous Louisiana Legislative Support
Louisiana lawmakers unanimously approved Senate Concurrent Resolution No. 6, formally endorsing Argent LNG’s proposed 25‑MMtpa export terminal at Port Fourchon. The resolution signals strong political backing as the project moves through the Federal Energy Regulatory Commission’s permitting process. Argent LNG says...
Bipartisan Senate Bill Targets Future LNG Export Moratoriums
A bipartisan Senate bill, the LNG Export Security Act, introduced by Senators John Cornyn and John Fetterman, seeks to amend the Natural Gas Act to prevent future administrations from pausing LNG export approvals. The legislation would broaden the definition of...
Sheinbaum Appoints Pemex CFO to Lead Indebted Oil Producer
Mexican President Claudia Sheinbaum has appointed Pemex CFO Juan Carlos Carpio as the new chief executive of the state oil firm, which is wrestling with roughly $79 billion in debt and a 6% production drop to 1.65 million barrels per day. Carpio...
ReconAfrica Advances Kavango West 1X Production Testing in Namibia
ReconAfrica, together with NAMCOR and BW Energy, is moving forward with downhole production testing on the Kavango West 1X well in Namibia, targeting a start before the end of May. The test will assess six optimized zones across roughly 420 m of...
Sinopec Reports 235 Bcm Reserves at China’s First Ultra-Deep Shale Gas Field
Sinopec has received official approval for 235.7 billion cubic metres of proven reserves at the Ziyang Dongfeng shale gas field in Sichuan, marking China’s first ultra‑deep shale gas field with reserves over 100 Bcm. The Cambrian Qiongzhusi Formation lies at depths of 4,500‑5,200 m,...
Angola’s Block 2/05 Advances with Successful Espadarte Appraisal Well
Etu Energias and partners completed drilling, completion and testing of the Espadarte 7ST2 appraisal well in Angola’s Block 2/05. The extended‑reach well intersected eight productive intervals with 175 ft net thickness and delivered stabilized flow rates of 2,000‑2,500 bopd, free of water. Reservoir analyses...
Petralon Boosts Nigeria’s Dawes Island Production to 4,800 Bopd
Petralon Energy has lifted output at Nigeria’s Dawes Island field to about 4,800 barrels of oil per day after the DI‑3 well came online on March 14, 2026. The new well contributed roughly 2,800 bopd, marking the second consecutive producing well...
TotalEnergies Targets Egypt Deep Offshore Potential Through New Agreement
TotalEnergies and Egypt’s state gas company EGAS signed a memorandum of understanding to cooperate on deep offshore exploration in northwestern Egypt. The MoU establishes a framework for technical cooperation, subsurface evaluation and early‑stage studies to assess hydrocarbon potential. Signed in...
Deepwater, LNG Infrastructure to Drive Africa’s Next Energy Expansion Cycle
Africa’s next energy expansion will hinge on deep‑water projects, LNG infrastructure and gas‑to‑power integration rather than new discoveries. Production is forecast to reach 11.4 million barrels of oil equivalent per day in 2026, with upstream capital spending around $41 billion. Analysts note...
IPAA Backs Trump Administration Rollback of BLM Public Lands Rule
The Independent Petroleum Association of America (IPAA) welcomed the Trump administration’s decision to rescind the Bureau of Land Management’s Conservation and Landscape Health Rule. The rule had elevated conservation as a co‑equal use on federal lands, creating uncertainty for independent...
Iran War Threatens Long-Term Confidence in Hormuz Oil Flows, IEA Says
The International Energy Agency’s Fatih Birol warned that the prolonged closure of the Strait of Hormuz has permanently damaged confidence in one of the world’s most critical oil and gas chokepoints. The waterway, which moves roughly a fifth of global oil...
Nigeria Upstream Reforms Drive Surge in African Oil and Gas FIDs
Nigeria’s recent energy reforms have propelled the country from a modest 4% share of Africa’s upstream final investment decisions (FIDs) to roughly 40% over the past two years. Key measures—tax incentives for deep‑water projects, clarified agency roles and a cut...
Iran Responds to U.S. Peace Proposal as Strait of Hormuz Tensions Persist
Iran has formally replied to the latest U.S. peace proposal aimed at ending the ten‑week conflict that has choked the Strait of Hormuz. The U.S. plan offers to lift the blockade on Iranian ports if Tehran permits unrestricted shipping, but...
Can Africa's Natural Gas Power the Continent's Digital Future?
Artificial intelligence is driving a surge in data‑center power demand, and Africa’s abundant natural‑gas reserves could supply the baseload electricity needed for future AI infrastructure. The continent holds over 600 trillion cubic feet of proven gas yet consumes only a fraction,...
INA, MOL Discuss Restarting Syria Oil and Gas Operations with SPC
INA and MOL Group met with the Syrian Petroleum Company in Budapest and Zagreb to explore restarting INA's oil and gas concessions in Syria, which have been idle since 2012. The discussions covered operational, technical, commercial and regulatory prerequisites for...
OTC 2026: Deepwater Re-Emerges as Critical Supply Engine Amid Global Exploration Slowdown
Deepwater development is re‑emerging as a pivotal supply engine as global exploration spending hits near‑record lows. Analysts warn of a potential 25 MMbpd oil supply gap by 2040, prompting a focus on long‑life offshore projects. Production from deepwater, currently under 8%...
Aramco, ADNOC Quietly Resume Limited Hormuz Crude Exports
Saudi Aramco and Abu Dhabi National Oil Company have quietly restarted limited crude shipments through the Strait of Hormuz despite ongoing Iran‑related security threats. Bloomberg’s tanker‑tracking data shows exports have averaged about 500,000 barrels per day since early March, a...
Offshore Growth and Geopolitics Dominate OTC 2026 Discussions
The Offshore Technology Conference (OTC) 2026 wrapped up in Houston with roughly 25,000 attendees from more than 100 nations. Sessions centered on offshore investment, deep‑water projects, LNG expansion, digitalization and energy security amid ongoing Middle East tensions. Attendance lagged peak‑cycle...
Shell Selects Audubon for Deepwater Brownfield Work in U.S. Gulf
Shell plc awarded Audubon Companies an exclusive engineering and procurement contract for its deepwater brownfield topside projects in the U.S. Gulf, covering up to $100 million in installed costs. The deal tasks Audubon with operations, maintenance and upgrade work aimed at...
OTC 2026: Venezuela Tries to Draw IOCs Back as IEA Calls for More CAPEX
Venezuela, home to an estimated 303 billion barrels of recoverable oil and 200 trillion cubic feet of gas, is attempting to reverse a steep production decline from 3 MMbopd to roughly 950,000 bopd. A 2026 amendment to the country’s Organic Law on Hydrocarbons lowers...
Devon Completes Coterra Merger, Expands Delaware Basin Position
Devon Energy and Coterra Energy have finalized an all‑stock merger, creating a larger shale producer that will continue under the Devon name and DVN ticker. The deal gives former Devon shareholders about 54% of the combined company and former Coterra...
IEA Chief, Canada Leaders Address Oil Market Turmoil Tied to Iran Conflict
International Energy Agency Executive Director Fatih Birol met with Canadian Prime Minister Mark Carney and senior officials in Ottawa to address oil market turmoil linked to the Iran‑related conflict. The discussions centered on disruptions to shipping through the Strait of Hormuz and...
PetroTal Targets Production Growth with Bretana Drilling Restart
PetroTal Corp. announced it will restart development drilling at its Bretana field in Peru later this year, aiming to stabilize output and resume growth. First‑quarter 2026 production reached roughly 14,900 barrels of oil per day, and the company signed a...
SunPetro Selects Sercel Nodes for 4D Seismic Survey in India
Sun Petrochemicals Pvt. Ltd. has chosen Sercel’s WiNG 3C MEMS nodal system to conduct India’s first 3C‑based 4D seismic survey in Gujarat, executed by Khushi Oilfield Services. The cable‑free, high‑density nodes promise higher‑resolution subsurface imaging and a smaller operational footprint. Sercel...
Rex Names New COO to Support Oman Field Development Plans
Rex International Holding Limited announced the appointment of Mike Hopkinson as chief operating officer, succeeding retiring veteran Svein Kjellesvik. Hopkinson, who has overseen the Yumna field through Rex’s Masirah Oil subsidiary since 2023, brings more than three decades of upstream experience...
Weatherford Wins MPD Contracts with Noble for Deepwater Drilling Operations
Weatherford International plc secured multiple managed pressure drilling (MPD) contracts and a global aftermarket services agreement with Noble Corporation. The deal includes two MPD systems for Noble’s offshore Guyana projects, slated for deployment before year‑end, and an upgrade of a...
Harbour Energy Clears Path for Waldorf Acquisition After UK Court Ruling
Harbour Energy Plc secured approval to acquire Waldorf Production UK after a London court dismissed HMRC’s objection to wiping out most of the oil producer’s unpaid taxes. The ruling permits a cross‑class cram‑down, giving HMRC 14% of the £70 million (£94.8 million)...
Halliburton, Shape Digital Target Production Optimization with AI Asset Management
Halliburton and Shape Digital announced a strategic collaboration that fuses Halliburton Landmark’s Digital Field Solver (DFS) platform with Shape Digital’s AI suite—including Lighthouse, Aura, and Reef. The integrated solution links subsurface reservoir models, surface operational data, and live equipment condition...
Texas Regulator Highlights Record Oil Exports, Rising Production Amid Iran Disruption
Texas Railroad Commissioner Wayne Christian highlighted a record first‑quarter at the Port of Corpus Christi and Diamondback Energy’s plan to boost drilling and exports, linking the surge to Iran‑related supply disruptions. He credited years of state investment in drilling capacity...
Baker Hughes, Strohm Partner on Ultra-Deepwater Hybrid Flexible Pipe Technology
Baker Hughes and Strohm are co‑developing a hybrid flexible pipe (HFP) that blends thermoplastic composite pipe with traditional flexible‑pipe architecture for ultra‑deepwater flowlines and risers. The HFP replaces the carcass, liner and pressure armor with lightweight, corrosion‑resistant composite material while...
OTC Day 1: Guyana’s President Delivers Somewhat Confusing Message
The Offshore Technology Conference opened with Guyana President Mohamed Irfaan Ali delivering an hour‑long keynote that largely sidestepped detailed discussion of the country’s booming oil output. While he noted the Yellowtail field on‑stream and the upcoming Uaru production, most of his remarks...
South Sudan Declines to Renew Oranto’s Block B3 Exploration License
South Sudan’s Ministry of Petroleum refused to renew Oranto Petroleum’s Block B3 exploration and production sharing agreement after the company missed mandatory seismic surveys, drilling commitments, and financial obligations. The decision marks a rare non‑renewal in the country’s licensing history and...
Unique Group Expands Subsea Mechanical Capabilities for Decommissioning
Unique Group announced an expansion of its subsea mechanical division, adding hydraulic shears, diamond‑wire saws, recovery grabs and back‑deck support gear. The rollout includes the Uni‑FlowX mass‑flow excavation system, which offers non‑contact trenching for construction and late‑life decommissioning. The company...
Permian Land Firm EagleRock Launches IPO Targeting up to $400 Million
EagleRock Land has filed for an initial public offering that could raise up to $398 million by selling 17.3 million shares priced between $17 and $20. The proceeds would fund the company’s extensive surface acreage and infrastructure in the heart of the...
Argent LNG Advances Port Fourchon Export Project with FERC Filings
Argent LNG has filed a series of resource reports with the Federal Energy Regulatory Commission to move forward its 25‑million‑tonne‑per‑year LNG export terminal at Port Fourchon, Louisiana. The filings address plant design, environmental impacts and alternatives analysis, satisfying the first...
EPA Allows Limited Routine Flaring at New Oil Wells Under Updated Rule
The U.S. Environmental Protection Agency has updated its regulations to allow limited routine flaring of associated gas at new oil wells that began construction after May 7 2024, extending flexibility beyond the 2026 phase‑out deadline. The rule targets wells facing takeaway or...
SM Energy Closes $950 Million South Texas Asset Sale
SM Energy completed a $950 million sale of South Texas assets, generating about $900 million in net proceeds. The deal moves the company toward its goal of over $1 billion in divestitures as part of a broader portfolio‑repositioning strategy. Executives say the cash...
Permian Output Rises to Record Levels While Flaring Falls, Report Shows
U.S. oil output hit a new high in 2024, with the Permian Basin producing roughly 6.3 million barrels per day, nearly half of national output. Over the same period, flaring intensity fell 45% nationwide and 62% in the Permian, even as...
Newfoundland and Labrador Budget Boosts Offshore Exploration Funding
Newfoundland and Labrador’s 2026 budget earmarks $90 million (≈$66 million USD) over three years for an Offshore Exploration Fund and $8.65 million (≈$6.3 million USD) for an Innovation and Business Development Fund to boost offshore oil and gas activity. The allocation also finances a...
Eco Atlantic Advances JHI Acquisition, Targeting Falklands Offshore Stake
Eco Atlantic Oil & Gas Ltd. is moving forward with its acquisition of JHI Associates, a step that will give it a 35% participating interest in the PL001 offshore license in the Falkland Islands. An interim court order cleared the...
Nabors Highlights Resilience in International Drilling Amid Middle East Tensions
Nabors Industries posted first‑quarter revenue of $784 million, with international drilling anchoring performance despite ongoing Middle East tensions. The conflict added staffing and logistics costs but did not stop operations, and the company deployed additional rigs in Saudi Arabia and Latin...
Petro Victory Reports Stacked Gas Pay in SJ-12 Well, Offshore Brazil
Petro Victory Energy Corp announced that its SJ‑12 well in Brazil’s São João field intersected a stacked gas reservoir, delivering 72 m of net gas pay across five zones and an additional 45 m of oil shows. The 3,180 m‑deep well logged 280 m of...
Eni Signs Deal to Restart Venezuela Oil Operations at Junin-5
Eni S.p.A. signed a programmatic agreement with Venezuela’s Ministry of Hydrocarbons and state‑owned PDVSA to restart operations at the Junin‑5 heavy‑oil project in the Orinoco Belt. The joint venture gives PDVSA a 60% stake and Eni 40% in a field...
Odfjell Technology Signs P&A Technology Deal for Southeast Asia Wells
Odfjell Technology signed a memorandum of understanding with Applied New Technologies to deploy ANT’s abrasive suspension (WAS) erosion‑based tool for plug‑and‑abandon (P&A) operations across Southeast Asia. The system removes internal wellbore obstructions without mechanical force or heat, complementing Odfjell’s rigless...
Geolander Advances Angola Seismic Campaign for CO₂ Storage Assessment
Geolander has launched a high‑density nodal seismic survey in Angola to map subsurface structures for carbon capture and storage (CCS) projects. The campaign uses autonomous STRYDE nodal equipment, enabling tightly spaced data acquisition that improves imaging of reservoirs, caprock integrity,...
Billion-Barrel Hormuz Oil Shock Threatens Demand as Supply Losses Mount
Prolonged blockage of the Strait of Hormuz has erased roughly one billion barrels of oil, equivalent to about 10% of global Gulf‑origin shipments. The loss now exceeds the emergency inventories released earlier in the crisis, forcing markets to curb consumption rather...
Halliburton Awarded Greenland Energy Arctic Drilling Contract
Halliburton secured a contract from Greenland Energy Company to provide integrated well planning, drilling and logistics for a 2026 on‑shore exploration campaign in the Jameson Land basin of eastern Greenland. The deal places Halliburton at the core of one of...
ADNOC L&S Takes Delivery of Sixth LNG Carrier to Expand Global Supply Fleet
ADNOC Logistics & Services plc has taken delivery of its sixth new‑build LNG carrier, a 175,000‑cubic‑meter vessel, continuing a fleet‑expansion program launched in 2022. The ship incorporates advanced efficiency technologies that lower emissions compared with older tankers. The expanded fleet...
Rubio: U.S. Will Not Accept Iran Control of Key Oil Chokepoint Hormuz
U.S. Secretary of State Marco Rubio warned that Washington will not tolerate Iran’s attempt to control navigation and tolls in the Strait of Hormuz. The statement follows President Donald Trump’s decision to cancel the latest round of U.S.–Iran talks, leaving...