Africa Targets Regional Energy Hubs to Unlock Oil and Gas Investment
The African Petroleum Producers Organization (APPO) is rolling out a regional energy‑hub strategy to knit together pipelines, processing plants, LNG terminals and refineries across the continent. By creating integrated markets, APPO hopes to unlock Africa’s more than 600 trillion cubic feet of proven gas reserves, which have been hamstrung by fragmented infrastructure. The plan also introduces the African Energy Bank to bridge financing gaps and encourage projects that pair upstream production with domestic power and LPG use. APPO argues that regional connectivity will boost export capacity, lower reliance on imported fuels, and attract long‑term capital.
Iran-Linked Supertanker Halts in Hormuz as U.S. Blockade Tightens
A U.S.-sanctioned supertanker, the Yuri, carrying roughly 2 million barrels of Iranian crude, stopped near Larak Island while attempting to cross the Strait of Hormuz. The pause follows a tightening U.S. blockade that has redirected 33 vessels since its launch on...
Milei Incentives Accelerate $12-Billion Vaca Muerta Shale Oil Project
Argentina’s President Javier Milei has expanded his RIGI investment incentive, prompting Pluspetrol SA to fast‑track a $12 billion development at the Vaca Muerta shale complex. The company will develop the Bajo del Choique‑La Invernada acreage, aiming for 100,000 barrels per day of crude and...
SLB to Acquire S&P Global Upstream Software, Advancing AI-Driven Subsurface Strategy
SLB announced it will acquire the upstream geoscience and petroleum‑engineering software portfolio from S&P Global’s energy division. The move expands SLB’s digital subsurface tools, especially for U.S. unconventional shale operations that rely on rapid, data‑intensive workflows. Integration will pair the acquired...
New JV Targets Deepwater Exploration in Guinea-Bissau Offshore Blocks
PetroGuin and Tender Oil and Gas have signed a joint venture to explore offshore Blocks 5C and 6C in Guinea‑Bissau. The agreement, announced at the Invest in African Energy Forum in Paris, includes a full 2D and 3D seismic campaign to improve...
Dallas Fed: Executives See Prolonged Hormuz Disruption, Modest U.S. Supply Gains
Oil and gas executives surveyed by the Dallas Fed expect the Strait of Hormuz disruption to persist for months, with 39% forecasting a return to normal shipping only by August and many seeing risk extending into late 2026. They anticipate...
Oil Majors Boost Exploration as 300-Billion-Barrel Supply Gap Looms
Major oil companies are ramping up ultra‑deepwater and frontier exploration as Wood Mackenzie warns of a 300‑billion‑barrel supply gap by 2050. Existing fields are projected to decline 40% between 2025 and 2040, leaving only about 700 billion barrels from current and...
U.S. Boards Iranian Oil Supertanker in Indian Ocean Amid Sanctions Crackdown
U.S. forces conducted a right‑of‑visit boarding of the Iranian‑linked supertanker Majestic X, a 2 million‑barrel VLCC, in the Indian Ocean. The Pentagon labeled the vessel stateless and flagged it as sailing under a false flag. The action follows a series of recent...
Valeura Charters Jackup Rig for Multi-Year Drilling Campaign in Gulf of Thailand
Valeura Energy has chartered the Shelf Drilling Enterprise jack‑up rig for a three‑year term ending in 2029, with operations slated to start in Q4 2026. The rig will first support production‑acceleration projects before moving to appraisal and exploration drilling across the...
Mental Health Services Expand Into Middle East to Support Offshore Energy Workforce
IntrospeXion, a UK‑based workforce wellbeing consultancy founded in 2024, announced its expansion into the Middle East to serve offshore and high‑risk energy operations. The firm secured its first regional contracts and will deploy on‑site support hubs, workforce assessments, and leadership...
ASCO Wins New Offshore and Gas Support Contracts in Australia
ASCO announced it has won a suite of Australian contracts worth AUD 33.2 million (approximately US$22 million). The awards span offshore decommissioning, gas‑plant support and logistics services across Western Australia and the Northern Territory. Projects include NORM radiation‑safety work, marine transport for a...
LUFKIN Upgrades Rod Lift Platform with Advanced Well Design Capabilities
LUFKIN Industries launched SROD V9.5.0, an upgraded rod‑lift design platform that automates data import and applies wave‑equation modeling to evaluate well performance. The new version adds a counterbalance reporting tool that calculates optimal rod‑lift configurations, aiming to reduce equipment strain...
Pumps & Valves Innovation Conference Brings Program for Operators, Engineers to the Gulf Coast
Empowering Pumps & Equipment and Gulf Energy Information have partnered to launch the Pumps & Valves Innovation Conference (PVIC), a two‑day technical event scheduled for November 2‑3, 2026 at the LyondellBasell CPET facility in Pasadena, Texas. The conference expands the...
Trump Invokes Defense Production Act to Boost U.S. Oil, Gas and Infrastructure Capacity
President Donald Trump invoked the Defense Production Act to accelerate U.S. oil and gas development, covering upstream production, refining, pipelines, storage and export infrastructure. The administration framed expanded domestic energy capacity as a national‑security imperative amid supply risks from the...
Offshore Venezuela Gas Project Advances as Eni, Repsol Secure Export Pathway
European oil majors Eni and Repsol have secured a deal with Venezuela's interim government to double output at the offshore Perla gas field and begin exporting liquefied natural gas (LNG) by the end of 2031. The agreement, signed in March,...
Ghana Targets $3.5-billion Upstream Investment to Boost Offshore Development
Ghana’s Ministry of Energy and Green Transition announced a $3.5 billion upstream investment drive to revive offshore oil production, led by Jubilee/TEN and Offshore Cape Three Points partners. The initiative coincides with reforms aimed at attracting fresh capital to declining blocks....
Hovercraft Sale Expands Offshore Oil and Gas Support Capacity in Caspian Sea
Griffon Marine has sold its BHT‑130 series hovercraft Solent Express to Caspian Offshore Construction (COC), where it will be renamed Caspian Eagle. The vessel will support oil and gas operations in the North Caspian Sea, providing personnel transport, emergency response...
U.S. Sets 2026 Oil and Gas Lease Sale in Alaska’s Arctic Coastal Plain
The U.S. Bureau of Land Management announced a lease sale for June 5, 2026 covering 1.56 million acres in Alaska’s Arctic National Wildlife Refuge Coastal Plain. Federal law requires at least 400,000 acres per sale and multiple auctions through 2035, making this the...
Talos Founder Tim Duncan Leads U.S. Gulf Oil Acquisition with New Company
A new upstream venture, 1947 Oil & Gas Plc, co‑founded by Talos Energy founder Tim Duncan, former Goldman Sachs strategist Jeff Currie and investor Ivan Murphy, has entered the U.S. Gulf market by acquiring Renaissance Offshore. The deal provides an...
Texas Upstream Employment Declines, Hiring Demand Remains Strong, TIPRO Says
Texas upstream employment slipped by 900 jobs between January and February 2026, with losses in both oil and natural‑gas extraction and support activities. Despite the dip, the state posted 8,554 unique oil and gas job openings in February, keeping it...
Energy NL Names New Board, Chair to Guide Newfoundland Offshore Energy Industry
Energy NL announced a refreshed board of directors after its annual meeting in St. John’s. Brad Forsey, director of business development at The Cahill Group, was named chair for a one‑year term, with Stephanie Maloney as vice‑chair. Six new directors...
Oil Majors Face Setback in $5 Billion Kashagan Environmental Fine Appeal
Kazakhstan’s Astana court upheld a 2.356 trillion‑tenge ($5 bn) environmental fine against the North Caspian Operating Co., the consortium that runs the Kashagan oil field. The penalty is tied to a broader $166 bn international arbitration involving revenue losses, alleged corruption, and additional...
Permian Holds 55,000 Sub-$50/Bbl Drilling Locations, Analysis Finds
The latest Enverus Intelligence Research analysis estimates the Permian basin holds about 55,000 drilling locations that can break even at under $50 per barrel, a 10% year‑over‑year increase. Including all geologically viable spots, the undeveloped inventory approaches 100,000 locations, with...
Trump Officials Urge U.S. Oil Industry to Increase Production Amid Supply Shock
U.S. Interior Secretary Doug Burgum and Energy Secretary Chris Wright urged major oil producers to raise output as the Iran‑linked closure of the Strait of Hormuz removed an estimated 16 million barrels per day from global supply. The administration framed the...
ABL, PetroSafe Strengthen Egypt Energy Assets with Safety, Engineering Services MoU
ABL Group has entered a memorandum of understanding with Egypt’s PetroSafe to provide technical safety and engineering services for the nation’s energy assets. The MoU spans offshore and onshore facilities, focusing on through‑life performance, subsea infrastructure, and operational safety. ABL...
Assala Achieves First Oil at Grand N’Gongui Field Onshore Gabon
Assala Gabon announced first oil from the Grand N’Gongui (GNG) onshore field in Gabon on April 16, 2026, transitioning the asset from appraisal to production. The field sits in the Gamba Formation with an estimated 350 million barrels of stock‑tank oil in place...
Mexico’s Oil and Gas Sector Needs Certainty to Drive Investment, AMEXHI Says
The Mexican Association of Hydrocarbons Companies (AMEXHI) endorsed the federal government’s gas strategy aimed at bolstering energy sovereignty, while warning that investment will stall without clearer regulatory and security conditions. The group stressed that competitiveness, regulatory certainty, and physical security...
Petrobras Board Vote Comes Amid Oil Price Surge, Fuel Policy Pressure in Brazil
Petrobras investors will elect a new 11‑member board on Thursday, with the Brazilian government – a 37% shareholder – nominating eight candidates. Two leading shareholder‑advisory firms have put forward an opposition slate that could limit President Lula’s sway over the...
Namibia Fast-Tracks Oil Law Reform Ahead of First Oil as Offshore Activity Accelerates
Namibia is accelerating a petroleum amendment bill to tighten its regulatory framework as offshore activity in the Orange Basin intensifies. President Netumbo Nandi‑Ndaitwah announced the reform at the Namibia International Energy Conference, emphasizing faster decision‑making and clearer investor rules. The...
EIG Launches Geothermal Investment Fund to Advance U.S. Power Projects
EIG announced the initial closing of its Geothermal Catalyst Partners fund, aimed at providing mid‑stage capital to U.S. geothermal projects. The fund targets the critical financing gap that often stalls projects after early exploration but before full construction. By leveraging...
Bp CEO Meg O’Neill Moves to Simplify Structure, Refocus on Upstream-Downstream Model
bp Plc’s new chief executive Meg O’Neill announced a sweeping reorganization that will collapse the company into two core divisions – upstream (exploration and production) and downstream (refining). The plan folds technology, legal, gas, low‑carbon and human‑resources units into these...
Energy Supply Disruptions From Middle East War to Persist, IEA and IMF Warn
The International Energy Agency, International Monetary Fund and World Bank warned that the ongoing Middle East conflict will keep global oil and gas markets disrupted, even if shipping through the Strait of Hormuz normalizes. The shock is described as substantial,...
Senegal Strengthens Hydrocarbon Framework as Oil, Gas Output Grows
Senegal is strengthening its hydrocarbon framework with new local‑content regulations while oil and gas output accelerates. The Sangomar field exported about 3.8 million barrels of crude in January, marking a milestone for the emerging producer. The Greater Tortue Ahmeyim floating‑LNG project...
Petrobras Confirms Hydrocarbon Discovery in Deepwater Campos Basin
Petrobras confirmed a hydrocarbon discovery in the pre‑salt section of Brazil’s Campos basin after drilling exploratory well 1‑BRSA‑1404DC‑RJS in block C‑M‑477, located about 201 km offshore Rio de Janeiro at roughly 2,984 m water depth. The presence of oil and gas was...
CoreMarine, Jumbo Offshore Win FLNG Installation Contract Offshore Argentina
CoreMarine and Jumbo Offshore have secured a contract from Southern Energy S.A. to transport, install and hook up floating LNG (FLNG) infrastructure in Argentina’s Golfo San Matías. The scope covers soft‑yoke mooring systems, riser installation, subsea construction and final hook‑up of the...
Halliburton Wins Multibillion-Dollar Fracturing Contract with YPF in Vaca Muerta
Halliburton secured a multibillion‑dollar, multi‑year contract with Argentina’s YPF to provide unconventional completions services in the Vaca Muerta shale play. The deal will see Halliburton deploy its ZEUS electric fracturing system and OCTIV digital platform, marking the first overseas use of...
TotalEnergies, TPAO Sign Exploration MoU for Black Sea Opportunities in Türkiye
TotalEnergies and Turkey’s state oil company TPAO have signed a memorandum of understanding to jointly evaluate oil and gas prospects in the Black Sea and other offshore areas. The MoU sets up a technical collaboration framework, allowing both firms to...
ABL, PMS Partner on Rig Moving Services for Egypt Offshore Operations
ABL and Petroleum Marine Services (PMS) have signed a memorandum of understanding to deliver offshore rig‑moving and marine‑assurance services for Egypt’s offshore drilling sector. The agreement lets ABL provide technical support on a call‑off basis, covering rig inspections, dynamic positioning...
U.S. Loans 8.5 MMbbl From SPR in Second Release Amid Iran War
The U.S. Department of Energy has loaned 8.48 million barrels of crude from the Strategic Petroleum Reserve to Gunvor USA, Phillips 66, Trafigura Trading and Macquarie Commodities Trading, marking the second emergency release aimed at cushioning oil markets amid the Iran conflict....
TotalEnergies Targets Production Growth with Major Africa Projects, LNG Restart
TotalEnergies is positioning Africa as the engine of its production growth, with half of its operated output and the largest share of exploration spend coming from the continent. The company will spend $500 million in 2025 to drill additional wells in...
Baker Hughes Teams with DTEK to Expand Ukraine Gas Production Capacity
Baker Hughes and DTEK Oil&Gas have signed an MOU to boost Ukraine's natural‑gas production, leveraging Baker's advanced drilling technology and DTEK's local expertise. Ukraine holds about 1.1 trillion cubic meters of proven gas reserves, one of Europe’s largest untapped basins. The...
Saudi Oil Output, Exports Hit After Attacks on Energy Infrastructure
Saudi Arabia reported that recent attacks on key energy infrastructure knocked out more than 600,000 barrels per day of oil production and slashed East‑West pipeline flows by roughly 700,000 barrels per day. The offshore Manifa field and onshore Khurais complex...
Ovintiv Completes $3-Billion Anadarko Asset Sale, Advances Debt Reduction
Ovintiv has completed the sale of its Anadarko Basin assets in Oklahoma for $3 billion, generating roughly $2.85 billion in net proceeds. The company will use the cash primarily to reduce debt and to redeem $700 million of 5.650% senior notes due 2028...
Egypt Agrees to Buy Full Output From Cyprus’ Aphrodite Gas Field
Egyptian Natural Gas Holding Co. signed a preliminary agreement to purchase the entire output of Cyprus' Aphrodite offshore gas field once it begins production around 2031. The deal includes a framework to build an offshore transmission system operated by a...
MaverickX Expands PetroX Production with New Eagle Ford Facility in Texas
MaverickX has launched a new 10,000‑sq‑ft production facility in Pleasanton, Texas, to manufacture its PetroX chemical solutions for oil‑field applications. The plant, operating near the Eagle Ford shale, can produce about 14 million liters per year, shortening delivery times and lowering...
ONE-Dyas Boosts North Sea Gas Output to 1 Bcm/Year with Second N05-A Well
ONE‑Dyas has brought a second well online at its N05‑A platform in the North Sea, raising total output to roughly 1 billion cubic metres (Bcm) per year. The development moves the field toward its 2 Bcm/year name‑plate capacity, with peak production expected...
SLB OneSubsea, Subsea7 Sign Development Agreement with PETRONAS Suriname
SLB OneSubsea and Subsea7 have entered a strategic collaboration with PETRONAS Suriname to develop offshore subsea projects in the country’s emerging deep‑water basin. The Subsea Integration Alliance creates a long‑term framework for early engagement across the project lifecycle, covering engineering,...
Decom Engineering Secures U.S. Patent for Subsea Cutting Technology
Decom Engineering has been granted a U.S. patent covering its proprietary Chopsaw subsea cutting system, which features a linear‑drive cutting head, modular drive configuration, and adaptable clamping. The patented design promises higher precision, safer operation, and faster on‑site maintenance for...
Ecopetrol Strike Risk Eases After CEO Exit, Union Backs Off
Colombia’s state‑controlled oil giant Ecopetrol saw its strike risk evaporate after the board placed CEO Ricardo Roa on a leave of absence until June 28, installing COO Juan Carlos Hurtado as interim chief. The Unión Sindical Obrera, representing roughly 5,000 workers,...
ABL Completes Multi-Phase Transport of Northern Endeavour FPSO to Recycling Yard
Australian marine services firm ABL has completed the final stage of transporting the Northern Endeavour FPSO from Australia to a recycling facility in Frederikshavn, Denmark. The multi‑phase operation included riser and mooring disconnection, a wet tow to Singapore, dry‑dock modifications,...