Colombia’s state-owned Ecopetrol SA is considering buying Carlyle Group’s oil driller in the nation as it looks to boost reserves and output. “We were invited to the process and are analyzing the option,” said Rafael Guzman, Ecopetrol’s VP of hydrocarbons in an interview. SourceContinue Reading
INEOS Energy has completed its acquisition of the U.S. Gulf business held by CNOOC’s U.S. subsidiary. The deal increases INEOS’ production globally to over 90,000 boed and marks the third major investment by INEOS Energy in the U.S. in the past three years. SourceContinue Reading
Sinopec announced the discovery of over 140 million tonnes (MMt) of proven reserves of shale oil at its Shengli Oilfield in East China. This is the first shale oil field with proven reserves of over 100 MMt to be certified by China’s Ministry of Natural Resources. SourceContinue Reading
Sinopec announced the discovery of over 140 million tonnes (Mt) of proven reserves of shale oil at its Shengli Oilfield in East China. This is the first shale oil field with proven reserves of over 100 Mt to be certified by China’s Ministry of Natural Resources. SourceContinue Reading
Petrofac’s Asset Solutions division has been awarded a number of scope expansions and new contracts in Q1 2025 totaling $500 million (USD). The awards span late-life asset management, decommissioning and integrated services across core global markets. SourceContinue Reading
Specialist drilling waste management company, TWMA*, has secured a three-year contract with TotalEnergies UK for its renowned drilling waste management services, marking the continuation of a long-term relationship between the two companies. SourceContinue Reading
In a significant development for Africa’s energy sector, Nigeria, Angola and Ghana have fulfilled their capital commitments toward establishing the Africa Energy Bank (AEB). This milestone represents 44% of the minimum required funding from APPO. SourceContinue Reading
Cairn Oil & Gas has entered into an agreement with Parker Wellbore to expand operations in India using a high-performance 2000HP drilling rig. Cairn will deploy the rig in Barmer, Rajasthan—the company’s largest onshore producing asset in India, this month. SourceContinue Reading
Eiffage, through Smulders (Eiffage Métal’s Belgian subsidiary), has signed an agreement to acquire 100% of HSM Offshore Energy. The combination of the two companies will strengthen their efficiency and their capacity to deliver large offshore projects. SourceContinue Reading
Chevron has agreed to sell 70% interest in its East Texas shale assets to Tokyo Gas for $525 million in a cash/capital carry transaction. The transaction is expected to generate over $1.2 billion in value to Chevron at current Henry Hub prices through the multi-year capital carry, retained working interest, and overriding royalty interest. SourceContinue Reading
