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Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. The previous such bid round was held in 2007, four years before the toppling of Muammar Ghaddafi in 2011, which led to a protracted
supermajor Chevron has expressed interest in oil and gas exploration in two additional offshore blocks south of the Greek island of Crete, Greeces Ministry of Energy and Environment said on Wednesday. The two new blocks now essentially double the total area for exploration to 47,000 sq km (18,147 square miles).
which stands for China National Offshore Oil Corporation, has followed through on an earlier announced sale of its Gulf of Mexico assets to Britains Ineos Energy. Ineos Energy focuses on oil and gas exploration and production, with activities in the North Sea, UK, Denmark and the USA.Its onshore assets
non-operated stake in the deepwater oilfield Bonga offshore Nigeria, where the UK-based supermajor plans to develop another major project. Shells subsidiary operating the Bonga oilfield, Shell Nigeria Exploration and Production Company (SNEPCo), has signed an agreement to buy the French supermajors 12.5%
(World Oil) – Libyas oil and gas sector is set for a new era of growth and investment following the announcement of its first exploration bid round in 17 years. This increase in production from existing fields underscores the countrys commitment to stabilizing and expanding its energy supply.
(Oil Price) –Libya will offer production sharing agreements to the successful bidders in its first oil and gas exploration bid round in 18 years, top Libyan oil officials said at an event in London on Monday. Libyas crude oil production currently exceeds 1.4 million barrels per day (bpd), NOC says.
oil production growth later this year and could lead to an annual decline in output in 2026, according to a new analysis by S&P Global Commodity Insights. As a result of the declining demand outlook and expected supply surplus (likely widened by recent OPEC+ decisions to accelerate the pace of production increases), U.S.
Energy Information Administration (EIA) forecast crude oil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Two new oil developments in Alaska the Nuna and Pikka projects are expected to boost crude oil production in the state after decades of decline.
The former head of Mexican state oil firm Pemex's exploration and production arm has returned to his post after the surprise departure of the previous chief this week
(Oil & Gas 360) –HOUSTON(BUSINESS WIRE) Chevron Corporation ( NYSE: CVX ) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. This reduces our development costs and is expected to drive higher returns for shareholders.
Japan's ENEOS Xplora has signed a new production-sharing contract for the Block 15-2 offshore southern Vietnam, the production and exploration arm of state oil firm PetroVietnam said on Tuesday
bp drilled the exploration well in Green Canyon Block 584, located in western Green Canyon approximately 120 miles off the coast of Louisiana in 4,092 feet of water. bp expects to grow its global upstream production to 2.3 million barrels of oil equivalent in 2030, with the capacity to increase production out to 2035.
(Oil Price) –The UK could produce about half of the energy it consumes locally, in the North Sea, the energy industry association, Offshore Energies, said this week, as quoted by the Financial Times. That would be on top of projected economic value creation of 200 billion pounds, or $258 billion, from domestic oil and gas production.
Exxon Mobil and Azeri state energy company SOCAR said on Monday they signed a deal agreeing to explore onshore oil and gas production in Azerbaijan, while BP is
Boosting production Major oil producers in Africa are striving to boost production and NOC-IOC collaboration is at the forefront. Algerias Sonatrach will increase hydrocarbon production by 2.5% Algerias Sonatrach will increase hydrocarbon production by 2.5%
(World Oil) –Murphy Oil Corporation today announced that a subsidiary has signed a Sales & Purchase Agreement (SPA) to acquire the BW Pioneer floating production storage and offloading vessel (FPSO) from BW Offshore.
The Calgary-based oil sands developer, which also explores for and produces oil and gas offshore, produced 853,200 bpd upstream and sold 604,900 bpd of refined products in Q1.
Petronas signed two production sharing contracts for exploration blocks in the waters of Sabah, the last leases awarded by Malaysia's national oil and gas company under the 2024 bid round.
(World Oil) – SLB has been awarded a major drilling contract by Australian independent Woodside Energy for its ultra-deepwater Trion development project, offshore Mexico. First production is targeted in 2028. Manufacturing is currently on track. Woodside is developing the field in partnership with Pemex.
Brazil's Petrobras is weighing opportunities from an oil block auction set to take place this year in India, said the state-run oil firm's head of exploration and production
Shell aumenta su participacin en la plataforma Ursa del 45.3884% al 61.3484%, dejando a BP Exploration & Production con el 22.6916% y a ECP GOM III con 15.96% Las subsidiarias de Shell: Offshore Inc. con el 22.6916% y a ECP GOM III, LLC con 15.96%.
A fire incident that occurred at a platform undergoing decommissioning operation offshore Vietnam has been contained, the operator Petrovietnam ExplorationProduction Corporation (PVEP) has informed
Australia-based oil exploration and production company Grand Gulf Energy has entered into a binding option agreement to acquire 100% of Wrangel, which is an applicant
Japan's ENEOS Xplora has signed a new production-sharing contract for the Block 15-2 offshore southern Vietnam, the production and exploration arm of state oil firm PetroVietnam said on Tuesday
China’s Oil Production Outlook: Stability Through Strategic Offshore Growth By Alexander Fernandez China remains a key player in global oil markets, maintaining a stable liquids supply through a strategic mix of mature onshore fields and expanding offshore developments.
The seminar covers the basics: geology, petroleum engineering, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves estimations.
The seminar covers the basics: geology, petroleum engineering, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves estimations.
and previously led Shell Nigeria Exploration and Production Co. His five-year tenure coincided with a dramatic downturn in production, with Nigerias output of almost 2 million barrels per day dropping to almost half that amount as oil majors exited onshore wells plagued by persistent security issues.
Any pullback in capital expenditures poses a direct challenge for oilfield service companies as they rely heavily on sustained investment in exploration and production. Latin America revenue fell 10% to $1.50 billion, with total international revenue declining 5% to $6.73 billion.
On the sidelines of CERAWeek 2025, Minister of Petroleum and Mineral Resources Karim Badawi held meetings with CEOs of international companies to discuss production and investments. The post Egypt, Global Energy Leaders Hold Talks on Field Development, Production, Investments at CERAWeek 2025 first appeared on Egypt Oil & Gas.
(Oil Price) –First-quarter earnings at ExxonMobil ( NYSE: XOM ) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices. Exxons net production jumped by 20% to 4.6 supermajor generated $13.0 billion for the same period of 2024.
These IPOs are poised to attract significant global investment, providing much-needed capital to enhance production capabilities, improve infrastructure and foster long-term growth. Similarly, Angola’s NOC Sonangol has reaffirmed its intention to proceed with an IPO, offering up to 30% of its shares to the public.
This report analyzes upstream oil and gas production trends over the last three years, based on data from Rextag Energy DataLink. MMBBL 193 BCF Analysis: Hilcorp leads in gas production but is less significant in oil output. MMBBL 193 BCF Analysis: Hilcorp leads in gas production but is less significant in oil output.
A fire incident that occurred at a platform undergoing decommissioning operation offshore Vietnam has been contained, the operator Petrovietnam ExplorationProduction Corporation (PVEP) has informed
Let’s explore the journey of natural gas from its formation to its use as a reliable energy source. Offshore Drilling – Some natural gas deposits are found under the ocean floor, requiring specialized offshore drilling platforms. How Is Natural Gas Formed?
French energy giant TotalEnergies and OQ Exploration and Production (OQEP), Oman's national oil company, have held the ground breaking ceremony for the Marsa LNG plant
Two developments this week will increase protections for South Louisiana’ s Port Fourchon and Louisiana Offshore Oil Port (LOOP). Port Fourchon handles more than 75% of the oil and gas production from the Gulf of Mexico, while LOOP is the only port in the U.S. capable of offloading the deepest draft tankers.
It covers the basics: geology, petroleum engineering knowledge, differences between conventional and unconventional plays, the basics of shale and offshore drilling, the economics of oil and gas exploration and production, geologic storage of CO 2 , and reserves calculations.
The presenting company lineup as of May 21, 2025, includes: Advantage Energy (TSX: AAVVF) Amplify Energy (NYSE: AMPY) Anschutz Exploration Armstrong Oil & Gas APA Corp.
Petrobrasis looking at potential opportunities in Argentina while advancing in projects in Colombia and Africa, the firm's exploration and production head Sylvia dos Anjos said on Tuesday
Chevron Corporation, one of the worlds leading integrated energy companies, has announced the start of oil and natural gas production from the Ballymore subsea tieback project, located in the deepwater Gulf of America. Capital Efficiency and Project Execution Ballymores development represents a new wave of offshore efficiency.
Minister of Petroleum and Mineral Resources Karim Badawi held meetings with Clay Neff, President of Chevron International Exploration and Production, and Dong Sub Kim, President & CEO of Korea National Oil Corporation (KNOC), focusing on investments and capacity building.
Australia is losing its competitive edge in attracting investment in natural gas exploration and production, threatening the nations energy security, economic growth and emissions reduction targets
is an independent oil and natural gas company engaged in the acquisition, development, exploitation and production of oil and natural gas properties. Amplifys operations are focused in Oklahoma, the Rockies (Bairoil), federal waters offshore Southern California (Beta), East Texas / North Louisiana, and the Eagle Ford (Non-op).
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