Diamondback Energy posted a $699mn net income for the second quarter of 2025 and accelerated its share repurchase programme, supported by record production and an upward revision of its annual guidance.
Swiss group Transocean reported a net loss of $938mn for the second quarter 2025, impacted by asset impairments, while revenue rose to $988mn thanks to improved rig utilisation.
The rapid commissioning of bp’s Argos Southwest extension in the Gulf of America strengthens maintenance capabilities and optimises offshore oil production performance.
Eight OPEC+ countries boost output by 547,000 barrels per day in September, completing their increase program twelve months early as Chinese demand plateaus.
BP posts a net profit of $1.63 bn in the second quarter 2025, driven by operational performance, an operating cash flow of $6.3 bn and a new $750 mn share buyback programme.
Dangote Group appoints David Bird, former Shell executive, as head of its Refining and Petrochemicals division to accelerate regional growth and open up equity to Nigerian investors.
Faced with falling discounts on Russian oil, Indian Oil Corp is purchasing large volumes from the United States, Canada and Abu Dhabi for September, shifting its usual sourcing strategy.
Independent Chinese oil companies are intensifying their investments in Iraq, aiming to double their production to 500,000 barrels per day by 2030 and compete with the sector’s historic majors.
BP has announced the discovery of an oil and natural gas field off the coast of Brazil, in the Santos Basin, marking its most significant find in a quarter of a century.
The dispute over the Corentyne block licence pits Frontera Energy and CGX Energy against the Guyanese government, amid major contractual and offshore investment stakes in the oil sector.
Chevron resumes the shipment of Venezuelan oil to the United States after a multi-year suspension due to sanctions, highlighting the persistence of oil flows between the two countries.
A fire broke out at a Sotchi oil depot after an attack by Ukrainian drones, causing no casualties but temporarily disrupting air traffic and mobilising significant emergency resources.
The consortium formed by ONGC (40%), Reliance (30%) and BP (30%) has signed a joint operating agreement for block GS-OSHP-2022/2, marking the first tripartite collaboration in Indian oil exploration.
Serbia has secured a new 30-day reprieve from the application of US sanctions targeting NIS, operator of the country’s only refinery, which is majority owned by Gazprom.
OMS Energy Technologies Inc. reports solid financial results for 2025, driven by marked revenue growth, improved gross margin and a reinforced cash position in a shifting market.
Five employees injured in an explosion at the Pascagoula refinery are suing Chevron for negligence, seeking significant compensation and alleging major breaches of safety regulations.
