Shell has agreed to acquire a 35% stake in two blocks offshore Angola through a farm-in with Chevron’s subsidiary, reflecting continued IOC interest in approved West Africa exploration despite regional production decline. SourceContinue Reading
Trafigura’s leadership says the firm will engage the U.S. government this week on how traders can return to buying crude from Venezuela and supplying fuel, while emphasizing that any comeback depends on OFAC permits and a credible upstream legal framework. SourceContinue Reading
Analysts at Australia and New Zealand Banking Group Ltd. (ANZ) caution that meaningful growth in Venezuela’s oil production is unlikely before the end of the decade, as capital intensity, aging infrastructure and sanctions risk point to longer project timelines than the industry norm. SourceContinue Reading
Analysts say Venezuela’s political upheaval is unlikely to disrupt global crude supply in the near term, but uncertainty around sanctions, exports and investment could reshape upstream dynamics in 2026 and beyond, with Chevron viewed as best positioned among U.S. majors. SourceContinue Reading
Touchstone Exploration has reported thick gas-bearing Herrera sands and a newly identified Karamat gas play at its Carapal Ridge-3 well in Trinidad, with completion and facility tie-in planned for early 2026. SourceContinue Reading
Mozambique LNG illustrates how shifting climate policies, security assessments and political priorities in key financing countries are slowing African LNG projects, raising costs and extending development timelines across the continent. SourceContinue Reading
U.S. Energy Secretary Chris Wright is expected to meet with oil industry executives this week to discuss the potential revival of Venezuela’s oil sector, as companies weigh long-term investment risks following recent political upheaval. SourceContinue Reading
The Government of Oman has signed a feasibility study agreement to evaluate heavy crude oil development in Block 71 using advanced electric heating technology. The study will assess technical and commercial viability ahead of potential appraisal drilling and a future long-term concession. SourceContinue Reading
Chevron and other U.S. oil stocks climbed after President Donald Trump pledged to revive Venezuela’s oil industry following the capture of Nicolás Maduro. Analysts say Chevron, which operates under a U.S. sanctions waiver, is best positioned to benefit, though rebuilding Venezuela’s aging oil infrastructure could take years. SourceContinue Reading
