Brent crude slipped below $60/bbl for the first time since May, as rising global supply continues to outpace demand. A growing surplus outlook for 2026, combined with easing geopolitical risk premiums, is adding fresh pressure to oil markets. SourceContinue Reading
Shell has sanctioned a waterflood project at its Kaikias field in the U.S. Gulf, targeting an estimated 60 MMboe of additional recoverable resources and extending production from the Ursa hub into the next decade. SourceContinue Reading
Partners led by ConocoPhillips and Vår Energi have sanctioned the Previously Produced Fields (PPF) redevelopment in Norway’s Greater Ekofisk area, approving up to $1.8 billion in investment to bring new subsea wells online from 2028 and extend production life at the mature hub. SourceContinue Reading
Chevron has lowered prices for Venezuelan crude sold to U.S. refiners after a tanker seizure in the Caribbean added pressure to an already weak Gulf Coast market. The move comes amid heightened U.S. enforcement actions and softer global oil prices. SourceContinue Reading
Kongsberg Maritime has expanded its UUC PM azimuth thruster range with two new high-thrust models, boosting propulsion efficiency and flexibility for offshore and marine operations. The latest additions support larger vessels, reduce maintenance downtime, and strengthen lifecycle performance in demanding offshore energy environments. SourceContinue Reading
Buccaneer Energy is moving ahead with a new waterflood program at its Fouke area assets in Texas, aiming to double or triple recoverable volumes. The plan includes converting two wells for injection, reinstating production at Turner #1, and advancing development work over the next six months. SourceContinue Reading
Seadrill is adding new backlog with contract awards in the U.S. Gulf of America/Mexico and Angola, securing follow-on work for three rigs and extending operations into 2027 while avoiding idle time between campaigns. SourceContinue Reading
Crescent Energy has completed its all-stock acquisition of Vital Energy, creating a top-ten U.S. liquids-weighted independent E&P operator. The merger expands Crescent’s scale, strengthens free cash flow generation, and adds new board members as the company prepares 2026 guidance. SourceContinue Reading
International operators are lining up for new acreage across the MSGBC basin, with rising interest in The Gambia, Guinea-Bissau and deepwater frontier zones. As governments update fiscal terms and accelerate de-risking efforts, the region is positioning itself as West Africa’s next exploration hotspot. SourceContinue Reading
The Middle Eastern oil market has weakened in recent weeks on concern that regional supplies will outstrip demand, adding to signs of a softening global picture that’s weighed on benchmark crude futures. SourceContinue Reading
