Baker Hughes has completed the closing of its surface pressure control JV with Cactus, marking a shift in ownership and capital allocation within the upstream equipment sector. SourceContinue Reading

Nigeria’s upstream sector is shifting as Tony Elumelu’s Heirs Holdings buys into Seplat Energy, strengthening domestic control and signaling continued M&A momentum in Africa’s largest oil producer. SourceContinue Reading

Peru has announced plans to restructure Petroperu and explore separating the $6-billion Talara refinery, as the state firm faces liquidity challenges and $5.45 billion in debt. SourceContinue Reading

Harbour Energy has been appointed operator of the Zama offshore oil project in Mexico, a 750-MMboe development approved by SENER and backed by Pemex and Talos Energy. SourceContinue Reading

Venezuela’s oil output in the Orinoco Belt has fallen 25% as U.S. enforcement efforts block exports, forcing PDVSA to shut wells amid limited storage capacity. SourceContinue Reading

Oil prices finished 2025 with their sharpest annual decline since 2020, as WTI fell 20% amid surging global supply, OPEC+ output increases and record U.S. production. Market watchers expect oversupply to persist into 2026, despite geopolitical risks and upcoming OPEC+ policy decisions. SourceContinue Reading

Nigeria’s NNPC is preparing to develop new oil fields beginning next year as part of a plan to boost national output and raise up to $30 billion by 2030. The state-owned producer is also weighing divestments of non-performing assets and expects to launch bid rounds early in 2026. SourceContinue Reading

African producers are turning regulatory reform into real upstream gains. From Angola’s $70B project pipeline to Nigeria’s accelerated licensing and Congo’s LNG expansion, policy shifts are reshaping investment across the continent. SourceContinue Reading

Gabon is advancing major energy-sector reforms aimed at boosting upstream investment, separating its hydrocarbons framework into new oil and gas codes and unlocking deepwater potential. Growing production, offshore exploration agreements with bp and ExxonMobil, and LNG megaprojects position Gabon as a rising player in Africa’s oil and gas landscape. SourceContinue Reading

Saipem has secured $600 million in offshore work from Aramco, including pipeline installation and subsea intervention at multiple Saudi fields—further expanding its in-country fabrication footprint and LTA-backed project portfolio. SourceContinue Reading