The IEA says alternative crude supplies and emergency stock releases are helping stabilize global oil markets despite escalating tensions around the Strait of Hormuz, but warns refined fuel and LNG markets remain under pressure. SourceContinue Reading
Afreximbank has approved a $200 million financing facility to support Shoreline Power Company and Arkad SpA’s participation in the $980 million Hassi Bir Rekaiz Phase 2a field development project in Algeria, which is expected to increase production to as much as 60,000 bopd. SourceContinue Reading
The African Energy Chamber is urging global operators and investors to back Venezuela’s reopening oil and gas sector, citing regulatory reforms, expanding upstream opportunities and plans to restore production to as much as 3 MMbpd while attracting international investment. SourceContinue Reading
Halliburton reported second-quarter 2026 revenue of $5.7 billion as stronger North American stimulation and well construction activity drove sequential growth, while the company cited a robust international pipeline and continued demand for its oilfield technologies. SourceContinue Reading
ADNOC has approved a $6.2 billion investment to develop the Umm Shaif Gas Cap offshore Abu Dhabi, a project expected to deliver more than 600 MMscfd of natural gas by 2030 and strengthen the UAE’s long-term gas supply. SourceContinue Reading
TWMA has secured a three-year contract extension with a major operator in Egypt to provide drilling waste management services, reinforcing its long-standing presence in the country’s offshore oil and gas sector and supporting continued growth across the Eastern Mediterranean. SourceContinue Reading
Vår Energi will acquire BlueNord in a deal that creates Europe’s largest independent oil and gas producer, adding Danish Continental Shelf assets and boosting production to approximately 450,000 boed while strengthening long-term cash flow and dividend capacity. SourceContinue Reading
Phoenix Energy has surpassed 50,000 bopd of production in the Williston basin, marking a major operational milestone as the independent E&P company continues expanding its Bakken operations across North Dakota and Montana. SourceContinue Reading
Halliburton has been awarded an integrated field management and EPCM contract by Basra Oil Company to support development of the Bin Umar and Sindbad oil and gas fields in southern Iraq, advancing production and associated gas utilization. SourceContinue Reading
Lionheart Capital is nearing a proposed $400 million investment in Venezuela’s PetroUrdaneta joint venture, a deal that could become one of the first major private upstream investments since U.S. sanctions were eased. SourceContinue Reading
