ConocoPhillips considers selling its Norwegian business and UK Teesside assets
ConocoPhillips, a US oil and natural gas producer, said that it is considering a possible sale of its Norway operations and the Teesside assets in the UK after receiving an unsolicited bid. The company didn't disclose the identity or financial details of the buyer. ConocoPhillips stated that the evaluation is in line with its'strategia of optimizing the portfolio, and it would retain the assets should the offer not meet expectations. ConocoPhillips'?operations?
Argentina accuses UN ignoring the rising tensions in Falkland Islands
Argentina's president Javier Milei criticized Wednesday the United Nations for "looking the other way" during escalating tensions between Britain and Argentina over oil exploration in and around?the Falkland Island, a British overseas territory that is largely self-governing. Argentina has long denied British sovereignty. Milei, speaking before the 'world's leaders at the UN General Assembly said Argentina claimed the islands.
Argentina's Milei speaks to the UN as tensions over Falkland Islands rise
Argentine President Javier Milei will speak to world leaders on Wednesday at the United Nations General Assembly, amid escalating tensions between Argentina and Britain over oil exploration around the Falkland Island. The Falkland Islands are a British overseas territory that is largely self-governing. Argentina has long denied its sovereignty. Argentina began sanction proceedings earlier…
TotalEnergies offshore project in Suriname to start production in mid-2028
Annand Jagesar of the state-run Staatsolie said that the French energy company TotalEnergies, along with its partners, are on track to launch the project's output in mid-2028. He was speaking during a visit to the site to monitor the progress. Jagesar said, "Together we are not just developing an energy project; we are writing a chapter in Suriname’s history," during the event held in Paramaribo, capital of the small South American country.
Angola's Etu Energy aims to produce 100,000 bpd within five years - CEO
Etu Energias, a privately-owned company in Angola, aims to increase oil production by almost a 'fourfold' to 100,000 barrels a day within five year, according to its CEO. This comes after the company signed a 'deal' to purchase Chevron's 'interest' in Blocks 14 and 14.K. The?company - formerly Somoil - exercised its right of preemption to block Energean’s bid for $260 million stakes in the same deep water as the energy firm aims at organic growth, not just acquisitions.
Energean's profit in the UK jumps due to lower tax charges, and production recovers from Israel halt
Eastern Mediterranean-focused gas producer ?Energean ?posted a 45% jump in first-half profit on Wednesday helped by a lower tax charge in Italy, and said production had bounced back following a war-driven shutdown in Israel that cut its half-year output. By expanding in Egypt and seeking deals in West Africa, the independent oil and gas company is trying to reduce its dependence on its flagship fields offshore Israel…
Clearwater Oil to be created by merger of Tamarack Valley and Headwater for $7.2 billion
The companies announced on Tuesday that Canadian oil producers Tamarack Valley?and?Headwater Exploration would merge in a deal valued at C$10 Billion ($7.25 Billion) in all-stock deals. The deal would create the largest publicly traded oil producer in Alberta, focusing on Clearwater Formation, with the core land positions across Marten Hills West, Nipisi, and Marten Hills. Tamarack will issue approximately 237,8 million shares.
Brazil environmental agency clears Petrobras to drill additional Foz do Amazonas wells
According to a document seen by us on Friday, Brazil's Ibama environmental agency authorized the state-owned oil company Petrobras drill three new deep wells in the Foz do Amazonas basin. Petrobras has made a recent oil discovery in an environmentally sensitive region off the coast of Brazil. The new wells will determine whether the?oil is commercially viable. Last month, President Luiz inacio Lula da Silla celebrated the oil discovery.
Timor Gap purchases Osaka Gas' stake in Greater Sunrise Project
Timor Gap, the national oil company of East Timor, announced that it had signed a 'binding agreement' with Osaka Gas for the purchase of a 10% participating interest by Osaka Gas in 'the Greater Sunrise' gas 'project. Soares said that the acquisition will help the joint venture partners of the project reach a final decision on investment and unlock the value in the Greater Sunrise resource for East Timor as well as other stakeholders.
Trump claims Britain is on the brink of disaster citing immigration and energy issues
Donald Trump, the U.S. president, said that Britain is "on the verge of disaster" in an interview with GB News. He expressed concerns about the high energy prices and net zero policies of the country as well as the impact of mass migration. The relationship between Britain and Trump's United States has been turbulent over the past few years. From the heights of a pompous state visit in London in 2025, to heavy criticism in a variety of domestic and international policy areas.
Chevron doubles production in five years with $7 billion investment plan.
Chevron plans to invest a total of more than $7 billion in order to double the crude oil production from Venezuela, to 600,000 barrels per day, over the next five-year period. This is part of an expansion plan with PDVSA, following a recent energy reform. The U.S. Oil Major's expansion announced on Wednesday is the culmination after several months of negotiations conducted separately…