Production
News
March 07, 2025
Norweigan oil company DNO has reached an agreement to acquire Sval Energi from HitecVision for a cash consideration of $450 million (USD) based on an enterprise value of $1.6 billion. The Sval Energi assets will enable DNO to quadruple its North Sea production.
News
March 07, 2025
By strengthening their balance-sheets through partial privatization, transferring their regulatory roles to independent entities and acquiring more assets, African NOCs are emerging as strong partners for foreign firms.
News
March 07, 2025
Vitesse Energy announced today the completion of its previously announced acquisition of Lucero Energy in an all-stock transaction valued at $222 million. The addition of Lucero’s operations will enable Vitesse to expand its assets across the Bakken shale region.
News
March 06, 2025
Ecuador’s President Daniel Noboa has ordered a consortium seeking to take over the nation’s top oil asset to pay an entry fee of $1.5 billion by March 11, moving up the deadline by more than three weeks. Noboa has warned he will cancel the deal without the early payment.
News
March 04, 2025
The U.S. Treasury followed through on President Trump’s pledge to stop Chevron's operations in Venezuela, delivering a major blow to Nicolas Maduro’s autocratic regime. Chevron has ramped up production in recent years to supply about 20% of Venezuela's overall output.
News
March 03, 2025
OPEC+ will proceed with plans to revive halted oil production after repeated delays, amid pressure from President Donald Trump to lower oil prices. The group led by Saudi Arabia and Russia will go ahead with the increase of 138,000 bpd in April, a delegate said.
News
February 28, 2025
The African Energy Chamber (AEC) recently met with Equatorial Guinea’s National Council for Economic and Social Development (CNDES) to explore strategic cooperation aimed at maximizing the country’s oil and gas sector development.
Article
February 2025
It’s been an odd start to 2025. Amid stronger underlying factors, the Canadian oil patch normally would be gearing up to bolster production. But with the federal government in disarray amid threats of a damaging trade war from the U.S., uncertainty remains the only constant.
Article
February 2025
Known for delivering engineering, advisory and operational solutions, Wood is involved with major projects globally. One of the firm’s key executives believes Wood will continue to pursue a dual track of oil and gas work, and energy transition projects, as the economic picture brightens.
News
February 27, 2025
ChampionX has launched a redesign of its LOOKOUT™ optimization services for electrical submersible pumping (ESP) systems. LOOKOUT leverages the full capabilities of ChampionX’s SMARTEN™ XE control system, delivering advanced automation for ESP operations.
News
February 26, 2025
Vermilion Energy Inc. has closed its previously announced acquisition of Westbrick Energy Ltd. The acquisition adds stable annual production of 50,000 boed (75% gas, 25% liquids) and approximately 770,000 net acres in Alberta's Deep Basin.
News
February 26, 2025
In a highly anticipated presentation, bp CEO Murray Auchincloss reversed a plan to shrink oil and gas production and cut investments in low-carbon energy, but also slashed the quarterly share buyback, dimming the appeal to investors.
News
February 24, 2025
Chevron's presence in Venezuela has helped lift the nation’s crude production back above 1 million bpd, in turn boosting the local economy. Now U.S. President Trump is poised to leverage this to get what he wants from Venezuelan President Nicolás Maduro.
News
February 21, 2025
The CPA awarded to Accell enables Aramco to efficiently procure InflowControl’s patented AICV® technology to support the reduction of unwanted water and increase of net-oil from their onshore and offshore wells.
News
February 17, 2025
OPEC+ is considering pushing back a series of monthly supply increases due to begin in April despite calls from U.S. President Trump to lower prices, delegates said. Postponing the increase of 120,000 bpd would mark the fourth such delay by the alliance since 2022.
News
February 13, 2025
Mozambique has committed to “drill, baby, drill,” and expand exploration and production activity in a key message delivered by Florival Mucave, Chairman of the Mozambique Energy Chamber, during a roundtable event in Maputo on Thursday.
News
February 12, 2025
(Bloomberg) – Pemex (Petroleos Mexicanos) will split profits with private-sector partners in joint ventures that may account for as much as 10% of the state oil company’s output, said Mexico President Claudia Sheinbaum.
News
February 11, 2025
Equatorial Guinea is aiming to revitalize its upstream sector, with plans to launch a new licensing round in 2025 aimed at increasing E&P activity. Equatorial Guinea’s last licensing round, held in 2019, offered 27 blocks for exploration and attracted significant industry interest.
News
February 11, 2025
(Bloomberg) – Dar Petroleum Operating Co. has resumed producing oil from a number of its wells in South Sudan after almost a year, people with knowledge of the matter said.
News
February 10, 2025
Bluewater, a specialist energy private equity firm, has agreed to sell Apex International Energy, an independent E&P company focused on the prolific Egyptian upstream market. Apex has become a top ten producer in Egypt in less than two years from oil discovery.
News
February 07, 2025
(Bloomberg) – New terminal construction faces uncertainty after 2024 U.S. crude exports expanded at the slowest since the COVID pandemic, and U.S. oil-production growth slows as drillers prioritize returns to investors and capital discipline, Chevron said.
