Saudi Arabia and Kuwait jointly announced Monday that they have discovered oil in the North Wafra Wara-Burgan field, part of the neutral zone between the two nations. The news was reported by Saudi Press Agency (SPA). SourceContinue Reading
The release of the second edition of API Std 20S strengthens the previous edition’s requirements, incorporating the latest industry practices, clearer non-destructive testing guidance and expanded tools for inspection and process control. SourceContinue Reading
A boom in sales of drilling rights in western Canada’s oil heartland of Alberta is fading as U.S. President Donald Trump’s trade war and OPEC+ production increases hammer crude prices. SourceContinue Reading
Oil production has started from the fourth development phase of the Mero field off the coast of Rio de Janeiro, Brazil, in the pre-salt area of the Santos basin. The field is operated by Petrobras (38.6%), with TotalEnergies and Shell Brasil each holding 19.3% working interest. SourceContinue Reading
Brent traded below $65 a barrel, erasing earlier gains. U.S. President Donald Trump extended the deadline for higher tariffs on the EU, triggering global relief. But crude prices remain under pressure as OPEC and its allies consider another bumper output hike. SourceContinue Reading
The Trump administration is preparing to issue a narrowly tailored license to Chevron Corp., allowing the oil producer to conduct minimal maintenance of essential operations in Venezuela, according to people familiar with the matter. SourceContinue Reading
Bienvenido Nguema Envo, CEO of Equatorial Guinea’s national oil company GEPetrol, is taking steps to emphasize the country’s push to revitalize its oil and gas industry, attract new investment and strengthen energy security across West Africa. SourceContinue Reading
Tim Hodgson, Canada’s new energy minister, has emphasized the need to build carbon-capture systems for the oil sands and identified crude and natural gas exports as a major priority for Prime Minister Mark Carney’s government. SourceContinue Reading
Vermilion Energy has entered into a definitive agreement for the sale of its Saskatchewan and Manitoba assets for $302 million USD ($415 million CAD). The assets are currently producing approximately 10,500 boed (86% oil and liquids). SourceContinue Reading
Mexico’s state oil company Petroleos Mexicanos is discussing plans to slash over 3,000 jobs in a proposed corporate restructuring that is expected to save the company millions as the indebted driller and refiner tries to shore up its finances and boost production. SourceContinue Reading
