The nation estimates it will need as much as $1.3 billion to buy a 37% stake in the Deep Water Tano/Cape Three Points asset operated by Aker Energy AS and 70% stake of the South Deep Water Tano field operated by AGM Petroleum Ghana Ltd., according to a parliamentary proceeding on Monday. SourceContinue Reading

The virus is clouding the outlook for consumption as China faces a fresh outbreak, Thailand expands its quasi-lockdown measures and infections in Sydney matched a record. Meanwhile, data indicated China’s economic activity eased in July and U.S. manufacturing data also showed some weakness. SourceContinue Reading

Devon Energy and ConocoPhillips are among potential suitors studying Royal Dutch Shell’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron is also among companies considering bids for the assets, which are largely located in West Texas, the people...Continue Reading

New Mexico’s oil production surged to a record in May highlighting the Permian basin’s role as the shale industry sees some recovery from the pandemic. SourceContinue Reading

Russia’s Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah. SourceContinue Reading

Exxon Mobil’s knockout second-quarter results did little to entice investors because much of the extra cash coming from soaring energy and petrochemical prices will be used to pay down debt rather than reward shareholders. SourceContinue Reading

Israel’s prime minister said Iran was “unequivocally” to blame for a deadly attack on an Israel-linked oil tanker off Oman on Thursday, just after Tehran denied responsibility. SourceContinue Reading

CGG S.A. and Topicus.com Inc. announced that CGG has entered into an agreement with Topicus and Vela Software, for the sale of CGG’s GeoSoftware business. The closing of this transaction remains subject to mutually agreed closing conditions. SourceContinue Reading

A Romanian and a U.K. citizen died on the 600-foot oil tanker Mercer Street when the vessel came under attack on Thursday while sailing from Tanzania’s Dar es Salam to Fujairah in the United Arab Emirates, said Zodiac Maritime Ltd., the manager of the tanker. SourceContinue Reading

Europe’s largest oil and gas companies are showing confidence that the era of big profits is back by significantly boosting returns to shareholders. SourceContinue Reading