Slim has consistently ramped up his investments in Talos and US refiner PBF Energy Inc. over the past year in a sign that the 84-year-old billionaire sees plenty of upside in the oil and gas industry. In his native Mexico, Slim has partnered with Talos to explore one of the country’s most promising new discoveries...Continue Reading
The plant, located in offshore Akwa Ibom state in the oil-rich Niger Delta, is expected to be commissioned in 2028, with first gas a year later. It will produce LNG, petroleum gas and condensate. SourceContinue Reading
According to the Railroad Commission of Texas, the agency plugged 1,012 orphan wells in Fiscal Year 2024 using state funds. This exceeded the fiscal year’s goal of plugging 1,000 wells with state funds, making it the eighth year in a row in which the RRC has surpassed its legislative target. SourceContinue Reading
The hedge fund veteran and founder of Hayman Capital Management says the backlash that’s been building against environmental, social and governance (ESG) investing in recent years is largely due to climate activists’ demands that oil and gas be abandoned here and now. As a proposition, that was never tenable or even responsible, he says. SourceContinue Reading
Transocean announced that Reliance Industries Limited awarded a binding Letter of Award for the Dhirubhai Deepwater KG1 for six wells offshore India. The estimated 300-day program is expected to commence in the second quarter of 2026. SourceContinue Reading
A fight over Gulf of Mexico oil production is looming in Washington as U.S. regulators race to redo guidance on how to protect endangered species ahead of a deadline that could ultimately threaten about 15% of the nation’s crude output. SourceContinue Reading
Key coalition members won’t now increase production by 180,000 bpd in October and November, according to a statement on OPEC’s website. Yet their longer-term plan to revive 2.2 MMbpd of idle supplies gradually over the course of a year remained in place, with the completion date pushed back two months to December 2025. SourceContinue Reading
Following the completion of the interpretation of the CB23 seismic survey data and a review of prospectivity in the eastern Cabora Bassa basin, eight key prospects have been defined in the company’s Exclusive Prospecting Orders (EPOs) 1848 and 1849, totaling 2.9 Tcfg and 184 MMbbl condensate. SourceContinue Reading
Noble has published an updated fleet status report reflecting the addition of the Diamond rigs and other updates, chiefly the addition of 4.8 rig years of backlog recently awarded under the Commercial Enabling Agreement (CEA) with ExxonMobil for the company’s four drillships operating offshore Guyana. SourceContinue Reading
A total of 43 development wells are planned to be commissioned, including 28 production wells, 14 water-injection wells and one appraisal and water source well. It is expected to achieve a peak production of approximately 9,900 boed in 2026. SourceContinue Reading
