Oil and Gas Consolidation Reshapes African Market
OilPrice
JULY 8, 2025
Africa’s upstream oil and gas sector is undergoing a transformative shift. Angola and Nigeria have been the epicenters of this consolidation wave.
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OilPrice
MARCH 11, 2025
The world needs upstream investments in existing oil and gas fields to support global energy security, Fatih Birol, the executive director of the International Energy Agency (IEA), said at the CERAWeek by S&P Global conference in Houston.
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Oil & Gas 360º
MARCH 11, 2025
(Oil Price) –The world needs upstream investments in existing oil and gas fields to support global energy security, Fatih Birol, the executive director of the International Energy Agency (IEA), said at the CERAWeek by S&P Global conference in Houston. Atkinson authored a report in partnership with Mark P.
OilPrice
MARCH 19, 2025
The worlds largest independent oil trader, Vitol, will buy stakes in some upstream assets in West Africa from Eni for $1.65 Eni has been pursuing in recent years the so-called dual exploration model, under which it sells part of its majority stakes to other companies to fast-track oil and gas discoveries to production.
OilPrice
JUNE 9, 2025
The upstream shale oil and gas sector has been written off by investors thanks to a 30% decline in oil prices since the first of the year. From near $80 in mid-January, tariff-led demand fears have overcome supply fears, and the price of WTI-the benchmark crude for most U.S. companies, to the upper $ 50s.
OilPrice
JUNE 4, 2025
With crude oil prices dropping into the low $60s per barrel, profitability in the oil and gas industry is under pressure, squeezing cash flows and forcing companies to reassess their capital allocation. As a result, upstream investments are expected to decline.
Enverus
JUNE 6, 2025
The first quarter of 2025 has seen a remarkable surge in oil and gas mergers and acquisitions (M&A) within the upstream oil and gas sector, with transactions totaling $17 billion. Conclusion The M&A landscape in 2025 presents both challenges and opportunities for small to medium-sized upstream operators.
Rigzone
JUNE 30, 2025
by Andreas Exarheas | Rigzone Staff | Monday, June 30, 2025 | 6:54 AM EST Wood Mackenzie reveals who was crowned the 'most admired upstream explorer' in the company's latest Annual Exploration Summit Survey. “The company has set a new benchmark in opening up a deepwater frontier at pace.
Oil & Gas 360º
JULY 11, 2025
(Oil Price) – Lower oil and gas prices are expected to dent the second-quarter earnings at BP, despite higher output and stronger refining margins. Brent oil prices averaged $67.88 The gas marketing and trading result is expected to be average, BP said, but noted that the “The oil trading result is expected to be strong.”
Oil & Gas 360º
JUNE 23, 2025
(World Oil) – Citing the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) has highlighted new employment figures showing an increase in upstream employment in Texas in the month of May.
Enverus
JUNE 6, 2025
As the upstream oil and gas sector faces mounting pressure from rising costs and dwindling Tier 1 inventory, the need for smarter, faster and more efficient development strategies has never been greater. ¹ Here are four key ways AI is revolutionizing acreage strategy for upstream operators. Watch Now 2.
Rigzone
JULY 1, 2025
Image by Moussa81 via iStock New data from the Texas Workforce Commission indicate that upstream oil and gas employment climbed by 2,200 in May compared to April, and by 7,300 jobs through the first five months of 2025. percent increase and an average growth of 875 jobs per month.
OilPrice
MARCH 6, 2025
Tanzania plans to launch in May its fifth oil and gas licensing round for 26 exploration blocks in what will be the East African countrys first such bidding round since 2014.
OilPrice
MAY 8, 2025
Despite slumping oil prices, global refiners are turning in strong first-quarter earnings, thanks to a sharp rebound in profit margins, Reuters reports, with U.S.
OilPrice
MAY 29, 2025
Oil sands operators mirrored a similar story, with the only notable change coming from Canadian Natural Resources (CNRL) as it trimmed its spending plans 1.6% First-quarter earnings highlighted the overall trend of producers maintaining spending and production guidance for the year. with no impact to full-year volumes.
Rigzone
JUNE 9, 2025
Brent Crude $66.90 +0.65% Natural Gas $3.69 -2.62% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS CNOOC Announces Seventh Upstream Startup in Chinese Waters This Year by Jov Onsat | Rigzone Staff | Monday, June 09, 2025 | 3:37 AM EST Weizhou 5-3 is expected to reach a peak output of about 10,000 bpd next year. The oil is light crude.
OilPrice
APRIL 25, 2025
The worlds biggest oilfield services provider, SLB (NYSE: SLB), flagged heightened uncertainties about upstream oil and gas investment amid fears of economic slowdown, fluctuating oil prices, and unknown tariff talks outcomes and impacts. SLB reported on Friday earnings per share (EPS) of 0.72
OilPrice
MAY 14, 2025
Lower upstream spending amid falling oil prices is set to slow the growth in oil supply from producers outside the OPEC+ pact this year and next, OPEC said in its monthly report on Wednesday.
Enverus
APRIL 23, 2025
Calgary, Alberta (April 23, 2025) Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year.
OilPrice
MARCH 27, 2025
In a strategy reset last month, BP said it is increasing its investment in upstream oil and gas to $10 billion per year while slashing spending on clean energy by more than $5 billion a year. In the upstream, BP will aim for 10 new major projects to start up by the end of 2027, and a further 810 projects by the end of 2030.
OilPrice
APRIL 3, 2025
BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas.
OilPrice
MARCH 13, 2025
This weeks call from the International Energy Agency (IEA) for continued investment in existing oil and gas fields is another moment of truth for the Paris-based agency, highlighting its inconsistent messages about upstream investment, OPEC says.
OilPrice
MAY 29, 2025
Portugal-based energy company Galp expects its oil production in Brazil to jump by 40% in the coming years as a new major field is set to begin production later in 2025, Nuno Bastos, EVP Upstream, has said. The Portuguese firms production in Brazil is about 110,000 barrels of oil equivalent per day (boepd) at present.
OilPrice
MAY 17, 2025
Backed by Western and Turkish support, Libyas internationally recognized government is attempting to revitalize its upstream oil and gas sector, which is already attracting notable global interest. At the African Energy Forum in Paris, Abdolkabir Alfakhry,
Enverus
JULY 8, 2025
“As mineral rights become increasingly fractionalized, education and transparency are key, especially for owners who lack basic knowledge,” notes Jake Dobkins, Director of Acquisitions & Divestment at Tower Rock Oil & Gas. He brings more than a decade of experience advising companies and private equity firms on upstream investments.
Oil & Gas 360º
APRIL 28, 2025
(World Oil) – Enverus Intelligence Research (EIR), a subsidiary of Enverus, is releasing its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year. Upstream M&A opened 2025 with $17 billion in deal value, the second-best start to a year since 2018.
OilPrice
MAY 7, 2025
billion in deepwater oil and gas exploration and development offshore Nigeria, the local regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said. supermajor ExxonMobil plans to invest as much as $1.5
Oil & Gas 360º
JUNE 20, 2025
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation.
OilPrice
APRIL 11, 2025
BP expects to post a weak natural gas trading result for the first quarter, as well as lower gas output, as the UK-based supermajor is resetting its strategy back to core oil and gas operations. The oil trading result is expected
BOE Report
MARCH 28, 2025
Upstream oil companies ramped up hiring in February, the Texas Independent Producers and Royalty Owners Association (TIPRO) said on Friday, marking the second straight month of growth.
OilPrice
APRIL 4, 2025
ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Oil prices in Q1 were lower than in the same period of 2024, but they were higher than in the fourth quarter of 2024.
Oilfield Technology
JULY 14, 2025
3D supported Sark well will drill a dip and fault closed large structure of 156 acres area and 40 ft relief Estimated recoverable resources of 1 440 000 bbls of oil gross. 3D supported Sark well will drill a dip and fault closed large structure of 156 acres area and 40 ft relief Estimated recoverable resources of 1 440 000 bbls of oil gross.
Asian Oil & Gas
JUNE 17, 2025
Malaysian state energy company Petronas said on Tuesday it expects to take one to two years to set up a planned joint venture with Italian energy group Eni on upstream…
Oil & Gas 360º
JUNE 27, 2025
(World Oil) – Tokyo Gas Co. Tokyo Gas is also expanding into upstream U.S. Tokyo Gas is also expanding into upstream U.S. is in discussions with multiple U.S. liquefied natural gas suppliers to secure a long-term purchase agreement, as rising energy demand leaves Japan increasingly dependent on the fuel source.
Oil & Gas 360º
APRIL 3, 2025
(Oil Price) –BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. million barrels of oil equivalent per day (boed) in 2030, with capacity to increase to 2035.
Oil Gas Leads
JUNE 21, 2025
Logistics management in the oil and gas industry plays a critical role in ensuring safe, timely, and cost-effective movement of materials, equipment, and personnel across upstream, midstream, and downstream operations. Personnel Transport : Helicopters, crew boats, and ground transport.
Enverus
JUNE 25, 2025
AUSTIN, Texas (June 25, 2025) — Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has released its annual list of the most prolific 100 private oil and gas producers in the U.S. based on gross operated production, well count and rig movements across last year. Learn more at Enverus.com.
Iraq Business News: Oil & Gas
APRIL 1, 2025
Rebalancing IOCs Positioning in the Upstream Petroleum Sector in Iraq The Ministry of Oil (MoO) recently concluded an agreement with BP covering four main oilfields in Kirkuk , following an earlier contract with an unidentified Ukrainian company to resume development of the Akkas gas field. By Ahmed Mousa Jiyad.
Oil & Gas 360º
APRIL 14, 2025
(Investing) – bp today announced an oil discovery at the Far South prospect in the deepwater U.S. Both the initial well and a subsequent sidetrack encountered oil in high-quality Miocene reservoirs. bp expects to grow its global upstream production to 2.3 Gulf of America/Gulf of Mexico.
Oil & Gas 360º
MARCH 4, 2025
(Oil Price) –BP is looking to raise the number of its board members and hire two more directors as part of its strategy to boost oil and gas production and shareholder returns, the Financial Times reported on Tuesday, citing sources familiar with the plans. Production is also expected to grow, to 2.32.5
Oil & Gas Magazine
APRIL 11, 2025
La regla general en el 2013-2014 eran los contratos de exploracin y de extraccin, estos se adjudicaban en un proceso competitivo (las rondas de licitacin que fueron conducidas por la CNH), y de manera excepcional se permita a la Sener que le asigne a Pemex un rea especfica para llevar a cabo las actividades petroleras, inform Pimentel.
Rigzone
MARCH 18, 2025
TIPRO said its new workforce data 'indicated strong job postings for the Texas oil and natural gas industry'.
Oil & Gas 360º
JUNE 9, 2025
Vaca Muerta, the world’s second-largest unconventional gas reserve and fourth-largest oil reserve, located in the province of Neuquén, is one of Argentina’s main attractions. Now they analyze the investment, they say: I want to wait and see if the economy really consolidates,” Tripier said.
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