Crescent Energy today announced a definitive agreement to acquire shale rival Vital Energy in an all-stock transaction valued at approximately $3.1 billion. The merger positions Crescent as a top 10 independent producer, with a scaled and focused asset portfolio across the Eagle Ford, Permian and Uinta Basins. SourceContinue Reading
Woodside has won a favorable decision from the Federal Court confirming the validity of the Scarborough Operations Environmental Plan, the final environmental approval required for Woodside to connect, commission and operate the Scarborough FPU. SourceContinue Reading
Perupetro on Friday announced a new strategy to increase hydrocarbons exploration in order to boost its domestic natural gas reserves. From 2037, Peru could be forced to import natural gas due to a decline in exploration and new discoveries. SourceContinue Reading
Angolan oil producer Etu Energias is pursuing accelerated oil production in Angola, with advancements in onshore exploration and offshore development positioning it to achieve its 80,000 bpd goal. SourceContinue Reading
After the U.S. Department of the Interior ordered all work on the Revolution Wind project to stop on Friday, National Ocean Industries Association (NOIA) President Erik Milito spoke out against the decision, calling it detrimental to the U.S.’s offshore energy supply chain. SourceContinue Reading
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
