Vitol has agreed to sell its U.S. upstream company, VTX Energy Partners, LLC, to Houston-based Verde Operating Company, LLC, for an undisclosed amount, the companies announced. SourceContinue Reading
SLB reported stronger second-quarter revenue as international offshore growth offset continued Middle East disruptions, with deepwater activity, production systems and digital technologies driving momentum heading into 2027. SourceContinue Reading
Kazakhstan is considering pursuing the international partners in the Kashagan oil field directly to collect a disputed $5 billion environmental fine tied to sulfur storage, as the operator continues to challenge the penalty through international arbitration. SourceContinue Reading
Petrobras’ P-52 offshore production platform remains offline following a gas leak discovered last year, with the company still evaluating restart options for the Roncador field asset in Brazil’s Campos basin after safety concerns identified degraded gas-lift risers. SourceContinue Reading
Eco Atlantic highlighted major exploration milestones across its Atlantic Margin portfolio, advancing partnerships with bp and Navitas while progressing offshore projects in Namibia, South Africa, Guyana and the Falkland Islands. SourceContinue Reading
Repsol reported stronger first-half upstream earnings as production reached a two-year high of 558,000 boed, driven by new output from Alaska’s Pikka project and continued progress across Brazil, Libya and Venezuela. SourceContinue Reading
Oil prices climbed above $100/bbl after Houthi attacks on Saudi tankers in the Red Sea intensified concerns over global crude supplies, adding to ongoing disruptions in the Strait of Hormuz and Kazakhstan’s export routes amid escalating Middle East conflict. SourceContinue Reading
Evolution Well Services has secured a two-year contract extension to continue providing electric hydraulic fracturing services to an independent U.S. shale operator, reinforcing demand for electric-powered completion technologies and long-term development partnerships. SourceContinue Reading
Horizon Petroleum has begun operations to re-enter, stimulate and production test the Lachowice-7 gas well in southern Poland, advancing development of the Lachowice gas accumulation, which contains 34 Bcf of 2P reserves and significant contingent resources. SourceContinue Reading
Matador Resources will acquire Paloma Permian for $1.28 billion, adding more than 16,000 net acres in the Delaware basin, while reporting strong initial results from its first Woodford exploration well in southeast New Mexico. SourceContinue Reading
