TotalEnergies has expanded its global exploration partnership with Chevron through a farmout agreement transferring a 40% stake in Nigeria’s offshore PPL 2000 and 2001 licenses. The joint venture strengthens both companies’ positions in the West Delta basin as regulatory approvals progress. SourceContinue Reading
Kenya has cleared a major hurdle for long-delayed oil development in the South Lokichar basin, granting Gulf Energy broad tax exemptions and higher cost-recovery terms after acquiring Tullow’s former assets. SourceContinue Reading
Harbour Energy will cut 100 more UK jobs after the government retained the Energy Profits Levy through 2030. The operator says North Sea assets are struggling to attract capital under the 78% tax burden, following earlier workforce reductions. SourceContinue Reading
OPEC+ confirmed it will pause planned output hikes in early 2026, citing weakening demand and a looming global surplus. The alliance also advanced a sensitive review of member production capacities—an issue that could reshape quotas heading into 2027. SourceContinue Reading
Komo Ressources Group has achieved first oil at the Autour field, becoming the first privately held Gabonese operator to bring a new field onstream. The project, located onshore Gabon, reached initial production on Nov. 27, 2025. SourceContinue Reading
Ecopetrol has approved a 2026 investment plan of $5.4–$6.6 billion, keeping spending steady as the company targets 730,000–740,000 boed next year. The plan prioritizes upstream activity, refinery reliability and gas development, while allocating 30% to energy-transition, transmission and infrastructure projects under a conservative $60 Brent outlook. SourceContinue Reading
Aker Solutions has landed a substantial six-year ConocoPhillips contract for maintenance and modification work on Norway’s Eldfisk and Ekofisk fields—extending one of the largest brownfield portfolios on the NCS. SourceContinue Reading
Petrobras reduced its five-year investment plan to $109 billion, citing weaker oil prices and shifting political pressures. The cut raises investor concerns over dividend yields as the Brazilian state-controlled producer prioritizes long-term offshore expansion. SourceContinue Reading
Colombia’s election authority has fined Ecopetrol CEO Ricardo Roa and other officials from President Gustavo Petro’s 2022 campaign for exceeding spending limits, adding new scrutiny as prosecutors pursue parallel investigations into campaign financing. SourceContinue Reading
OPEC+ is expected to confirm its plan to pause production hikes in early 2026 amid mounting signs of a supply surplus and softer oil prices. Ministers meet Sunday to finalize the already-agreed policy while also reviewing long-term capacity levels across the alliance. SourceContinue Reading
