Petrobras has started production at Búzios 6 with FPSO P-78, adding up to 180,000 bpd of oil and boosting gas supply from Brazil’s pre-salt. SourceContinue Reading
Chevron has delivered first oil from its South N’dola platform offshore Angola, bringing new production online in Block 0 through a tieback to existing offshore infrastructure. SourceContinue Reading
Occidental has completed the $9.7-billion sale of its OxyChem chemical business to Berkshire Hathaway, strengthening its balance sheet and upstream focus. SourceContinue Reading
Wallstreet Sand Co. has brought dry frac sand operations online at its Kermit, Texas facility, expanding in-basin proppant supply to support Permian basin completion activity and logistics efficiency. SourceContinue Reading
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
