Eni Finalizes Venezuelan Deal for 35Bbbl Field
Eni secured a 25-year agreement with state-owned PdVSA to relaunch activities at the Junin-5 heavy oilfield in the Orinoco Belt.
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Energy M&A
Energy mergers, acquisitions, divestitures, and asset transactions impacting the oil and gas industry.
EnQuest Trims Losses
The London-based company, whose production comes from the UK's side of the North Sea and Southeast Asia, reported a net loss of $24.83 million for H1 2026, improving from -$39.94 million for H1 2025 on higher production and higher oil prices.
Read MessageAtlantic Hurricane Season Remains Most Tranquil Since 1941
The world's second-largest ocean hasn't been this docile since 1941.
Read MessageElevated crack spreads and crude oil prices contribute to higher prices at the pump
What are crack spreads and why are they elevated? Crack spreads are indicators of the profitability of refining crude oil into petroleum products such as gasoline and diesel. One common crack spread is calculated by subtracting the spot market price of a gallon of crude oil from the wholesale price of a gallon of refined...
Read MessageDiesel hits record high as Ukraine and Iran wars knock out refineries, fueling inflation worries
Higher prices come as Ukraine pounds Russian refineries, forcing Moscow to ban diesel exports.
Read MessageVaca Muerta Estimated to Hold 9B Barrels of Sub $55 Oil Resource
EIR director Andy McConn said 'Vaca Muerta's growth potential and low-cost competitiveness are a rare combination in today's upstream market'.
Read MessageShell Completes Acquisition of Montney Major ARC
Shell completed its acquisition of ARC Resources, a leading producer in Canada's Montney shale, for around $16.5 billion including assumed debt.
Read MessageAnalysts Still Expect USA-Iran Deal by End-September
Analysts at BMI revealed that their base case still assumes a preliminary agreement to reopen the Strait of Hormuz by the end of the third quarter.
Read MessageADNOC Keeps Loading LNG Tankers in Gulf
ADNOC appears to be continuing to load liquefied natural gas onto tankers in the Persian Gulf, according to satellite images, despite ongoing disruptions to energy flows through the Strait of Hormuz and a recent escalation of hostilities.
Read MessageArgentina's Milei escalates Falklands dispute as Trump questions U.S. support for Britain
Argentina's President Javier Milei has renewed the country's claim to the Falkland Islands and threatened sanctions on oil companies.
Read MessageEU joins U.S. sanctions push on Iran as South Korea weighs Hormuz deployment
The bloc's endorsement came as the Group of 20 finance ministers and central bank governors gathered in Asheville, North Carolina, earlier this week.
Read MessageTrump-promoted Freedom Fuel expands to Detroit as lawsuit over supplier's unpaid fuel heats up
Freedom Fuel won free publicity when President Donald Trump urged other gas retailers to emulate its low prices in July.
Read MessageUSA Diesel Hits 4 Year High
U.S. retail diesel prices hit the highest since mid-2022.
Read MessageIran Strikes Keep Oil Near $91
WTI settled above $91 as fresh Iran strikes offset signals of easing market tightness.
Read MessageGuyana targets 1.7 MMbpd oil production by end of decade
Guyana's oil production has climbed above 900,000 bpd and could approach 1.7 MMbpd by the end of the decade, as the country looks to continued offshore exploration and broader energy investment to drive its next phase of growth.
Read MessageVenezuela oil production could reach 2 MMbpd as investment accelerates
Venezuela could increase oil production to as much as 2 MMbpd within five years if planned investment materializes, according to analysts, as Chevron, Eni and other producers move to expand operations in the country.
Read MessageVector Geophysical deploys 30,000 STRYDE seismic nodes for Colombia exploration
Vector Geophysical has purchased 30,000 STRYDE seismic nodes to expand high-density exploration surveys in Colombia, with the equipment set for its first deployment on a Parex Resources project.
Read MessageTexas RRC adds satellite monitoring for Permian basin injection activity
The Texas Railroad Commission will use satellite ground-motion data integrated with subsurface injection information to strengthen monitoring of underground injection activity across the Permian basin.
Read MessageTotalEnergies completes entry into giant Mopane discovery offshore Namibia
TotalEnergies has completed its acquisition of a 40% operated interest in Namibia’s PEL83 license, taking operatorship of the giant Mopane discovery ahead of a three-well appraisal campaign and targeted 2028 FID.
Read MessageShell Joins BP Exploration Projects offshore Brazil, US
BP signed an agreement with Shell to sell part of its ownership in the Tupinamba exploration block in Brazil's offshore Santos Basin and five leases containing the Conifer exploration prospect on the United States side of the Gulf of America.
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