The Trump administration is withholding approval for several Western oil majors seeking to operate in Venezuela, ramping up pressure on Nicolás Maduro’s government even as Chevron is allowed to work there, according to people familiar with the matter. SourceContinue Reading
Cenovus Energy will acquire MEG Energy in a cash and stock transaction valued at $7.9 billion CAD ($5.7 billion USD), Cenovus announced Friday. The acquisition follows MEG’s recent rejection of a takeover bid from Strathcona Resources. The joining of Cenovus and MEG will create combined oil sands production of over 720,000 bpd. SourceContinue Reading
The African Energy Chamber (AEC) has officially opened an international office in Shanghai, China, aimed at strengthening cooperation between African governments and energy companies and their counterparts in China. SourceContinue Reading
Angola is courting investment in its oil industry to stave off a further decline in output. It quit OPEC in 2023, after 16 years of membership, because of production quotas set by the group and has been trying to maintain output above 1 million bpd since then. SourceContinue Reading
Libya’s eastern parliament is poised to let Turkey explore for energy in the North African nation’s waters, according to people familiar with the matter, in what would be a sign of warming ties between Ankara and the region. SourceContinue Reading
MedcoEnergi has received approval from the Government of Thailand for an extension of the production period for the Bualuang Oil Field (Block B8/38) in the Gulf of Thailand. SourceContinue Reading
ConocoPhillips has signed a long-term sales and purchase agreement (SPA) to purchase 4 million tonnes per annum (MMtpa) of liquefied natural gas (LNG) from the Port Arthur LNG Phase 2 project under development by Sempra Infrastructure. SourceContinue Reading
Kent plc has signed a binding agreement to acquire Exceed (XCD) Holdings Limited, a leader in well management, subsurface and decommissioning engineering services. The acquisition marks Kent’s strategic expansion in the fast-growing global decommissioning market. SourceContinue Reading
Aker BP has completed its Omega Alfa exploration campaign in the Norwegian North Sea, resulting in a significant oil discovery that adds substantial new resources to the Yggdrasil area. The recoverable volume is estimated at 96-134 million barrels of oil equivalent (MMboe). SourceContinue Reading
The Railroad Commission of Texas assessed over $3.5 million in enforcement docket fines against oil and gas operators and businesses at the Commissioners’ open meeting on Tuesday. SourceContinue Reading
