Russia’s Lukoil PJSC has dissolved the supervisory board of its international business as U.S. sanctions take effect, signaling deepening operational and financial strain for the oil producer. The move comes as global buyers examine Lukoil’s overseas assets and trading operations contract under mounting pressure. SourceContinue Reading

Tullow Oil shares collapsed to a record low after the company signaled it may pursue alternative refinancing measures to address upcoming debt maturities. With net debt now expected to reach $1.2 billion, analysts warn that a debt-for-equity swap could severely dilute existing shareholders. SourceContinue Reading

EnerMech has secured a one-year extension to maintain cranes and deliver integrity services across six offshore assets—including multiple FPSOs—in North West Australia, strengthening a partnership that dates back to 2019. SourceContinue Reading

The U.S. Department of the Interior has proposed its most expansive offshore leasing plan in years—up to 34 OCS lease sales across the Gulf of America, Alaska and the Pacific. API, NOIA and IPAA call it a “historic step” toward restoring U.S. offshore competitiveness and strengthening long-term energy security. SourceContinue Reading

HKN Energy and Iraq’s Ministry of Oil have finalized technical terms for the Hamrin oil field, advancing the project toward a full contract and future production growth. SourceContinue Reading

ExxonMobil has lifted force majeure on its Rovuma LNG project in Mozambique, clearing the way for work to resume and bringing the long-delayed development closer to FID as regional security improves. SourceContinue Reading

TotalEnergies has formally rejected allegations linking its Mozambique LNG project to violence reported in 2021, citing early site evacuation and ongoing official investigations into the claims. SourceContinue Reading

Baker Hughes has secured a major order for 25 aeroderivative gas turbines from Dynamis Power Solutions, supporting a new high-capacity mobile power system designed for upstream, refining and petrochemical operations across North America. SourceContinue Reading

Altera Infrastructure says Aberdeen’s deep offshore expertise is driving rapid progress at Ivory Coast’s Baleine field, where the Petrojarl Kong FPSO reached first oil in just 24 months and now supports growing local content and lower-emission operations. SourceContinue Reading

Chevron CEO Mike Wirth signaled the company’s long-term commitment to Venezuela’s vast oil reserves, saying the major sees a future role in helping rebuild the nation’s energy economy once political conditions allow—even as U.S. pressure on the Maduro regime intensifies. SourceContinue Reading