California Resources Corporation has agreed to acquire Berry Corporation in an all-stock merger valued at $717 million, including net debt, the companies announced today. The transaction will consolidate two of California’s largest upstream operators, creating a combined entity with more than 160,000 boed of production and 652 MMboe of proved reserves. SourceContinue Reading
TotalEnergies, alongside Basra Oil Company and QatarEnergy, has launched construction of the final two major components of Iraq’s multibillion-dollar Gas Growth Integrated Project (GGIP), a landmark upstream and energy transition initiative. SourceContinue Reading
Subsea7 has secured a $750 million –$1.25 billion offshore contract with Aramco in Saudi Arabia for the engineering, procurement, construction, and installation of 106 km of pipelines, topsides modifications and hook-up work. Offshore operations are planned for 2027–2028. SourceContinue Reading
Kuwait Petroleum Corp. is considering leasing $7 billion worth of pipelines to fund its $65 billion investment program, with $33 billion focused on boosting upstream oil production capacity to 4 million bpd by 2035. SourceContinue Reading
ABS has granted approval in principle (AIP) to SBM Offshore for its pioneering Blue Ammonia floating production storage and offloading (FPSO) concept, advancing offshore gas conversion and decarbonized fuel production. SourceContinue Reading
The EPA under President Trump plans to end the Greenhouse Gas Reporting Program, halting emissions tracking from power plants, industrial facilities, oil refineries and other major polluters. The move could obscure 2.6 billion metric tons of emissions annually while saving businesses $2.4 billion in regulatory costs. SourceContinue Reading
Canada’s LNG expansion strategy gained momentum as Prime Minister Mark Carney placed Shell’s LNG Canada project on the national priority list, fast-tracking approvals for a potential doubling of export capacity. SourceContinue Reading
Woodside has received final environmental approval from the Australian Government for the North West Shelf Project Extension, ensuring continued LNG supply, jobs, and investment while meeting cultural and environmental safeguards. SourceContinue Reading
The Permian Strategic Partnership (PSP) has appointed Jack Harper as its new chairman, strengthening leadership for one of the most influential coalitions in the U.S. oil and gas industry. Harper, a longtime Permian exec, will guide PSP’s growth mission for the region. SourceContinue Reading
Production from the Bakken had been expected to rise heading into late 2025 and early 2026, but weaker oil prices and rising competition from Canada have contributed to slower drilling in the region, analysts said. SourceContinue Reading
