Thanks to strong operational performance, Ithaca Energy recorded record production in the first half of 2025, supporting improved annual guidance and significant dividend distributions.
The resumption of Shell’s drilling operations and the advancement of competing projects are unfolding in a context dominated by the availability of FPSOs and deepwater drilling capacity, which dictate industrial sequencing and development costs.
Indonesia Energy Corporation signs a memorandum of understanding with Aguila Energia to identify oil and gas assets in Brazil, marking a first incursion outside its domestic market.
Viper Energy, a subsidiary of Diamondback Energy, has completed the acquisition of Sitio Royalties and is raising its production forecast for the third quarter of 2025.
Driven by rising industrial demand and emerging capacities in Asia, the global petrochemicals market is expected to see sustained expansion despite regulatory pressures and raw material cost challenges.
Alnaft and Occidental Petroleum signed two agreements to assess the oil and gas potential of southern Algerian zones, amid rising budgetary pressure and a search for energy stability.
Indian imports of Brazilian crude reach 72,000 barrels per day in the first half of 2025, driven by U.S. sanctions, and are expected to grow with new contracts and upstream projects between Petrobras and Indian refiners.
Oil flows to Hungary and Slovakia via the Russian Druzhba pipeline have been halted, following an attack Budapest attributes to repeated Ukrainian strikes.
After twenty-seven years of inactivity, the offshore Sèmè field sees operations restart under the direction of Akrake Petroleum, with production targeted by the end of 2025.
In July, China maintained a crude oil surplus of 530,000 barrels per day despite high refining activity, confirming a stockpiling strategy amid fluctuating global prices.
Petrobras is holding talks with SBM Offshore and Modec to raise output from three strategic FPSOs, two already at full capacity, to capture more value from the high-potential pre-salt fields.
SNF acquires Obsidian Chemical Solutions, a Texas-based SME specialized in chemical solutions for well completion. Transaction amount and conditions undisclosed, but the acquisition comes in a growing North American market.
A New York appeals court has temporarily frozen the enforcement of a ruling ordering Argentina to transfer 51% of YPF’s capital, pending review of the appeal filed by Buenos Aires.
A new Russian presidential decree could allow Exxon Mobil to reclaim its stake in Sakhalin-1, under strict conditions tied to Western sanctions and equipment logistics.
The South African judiciary has revoked TotalEnergies’ authorization to explore a 10,000 km² offshore block, forcing the group into a new procedure that includes a public consultation.
Amber Energy, an affiliate of hedge fund Elliott Investment Management, submitted an $8.82bn offer for PDV Holding, intensifying competition in the court-supervised sale process in Delaware.
Gran Tierra Energy confirms a major asset acquisition in Ecuador’s Oriente Basin for USD15.55mn, aiming to expand its exploration and production activities across the Andean region.
The Mexican government unveils an ambitious public support strategy for Petróleos Mexicanos, targeting 1.8 million barrels per day, infrastructure modernisation, and settlement of supplier debt amounting to $12.8 billion.
KazMunayGas has completed its first delivery of 85,000 tonnes of crude oil to Hungary, using maritime transport through the Croatian port of Omisalj as part of a broader export strategy to the European Union.
Tullow marks a strategic milestone in 2025 with the sale of its subsidiaries in Gabon and Kenya, the extension of its Ghanaian licences, and the optimisation of its financial structure.
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.
