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…
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.
Sources: Rodriguez will lead a Venezuelan delegation to the US to discuss energy and debt.
Two sources familiar with the preparations say that a Venezuelan delegation headed by interim president?Delcy Rod will be attending the United Nations General Assembly in New York this week. The delegation plans to discuss energy, mining and debt issues with counterparts in the US. According to sources, the talks will lead to agreements being…
Sources say Exxon is in advanced talks about returning to Venezuela's Orinoco Belt.
ExxonMobil has been in talks to return to Venezuela. The US energy giant is interested in the huge Petromonagas project, which was previously a part of the Orinoco Belt. It also showed interest in certain areas in the Carabobo Block. If finalized, a re-entry by Exxon into Venezuela would be a stunning?reversal? for?the?company after it left…
Energy secretary: US energy company to announce Venezuelan investment
U.S. energy secretary Chris Wright said that a U.S. oil producer would?announce a'major investment 'into Venezuela on Wednesday. Foreign oil producers are moving joint ventures and sharing production contracts to Venezuela as part a sweeping energy reform. Meanwhile, new entrants – mostly U.S. based firms – are committing to development in…
Orlen, a Polish company, aims to double its output in Norway through acquisitions and projects
Polish energy company Orlen wants to double its production from its operations in the Norwegian continental shelf, which is one of its key growth areas. This will be achieved through acquisitions and exploration, according to its upstream chief. Wieslaw Prrugar said in an interview on the sidelines of a conference that the company would like to increase its production to 200,000 barrels per day, up from 100,000.
TotalEnergies CEO: New exploration planned in Norway
TotalEnergies, the French oil giant, will appoint an exploration manager in Stavanger to examine new projects?in?the country. This was announced by its CEO on Norwegian TV on Monday. Patrick Pouyanne, speaking at the ONS Energy?conference held in Stavanger, said that the Norwegian continental shelf was a prolific basin. We see potential there for the future.
Equinor, Aker-BP and Vaar will cooperate in Norway for frontier oil exploration
Equinor Aker BP Vaar Energi? plan to?cooperate in oil and gas exploration on the so-called high impact frontier areas of Norway’s continental shelf. Drilling in areas where there has been little or no exploration is more expensive and carries a higher risk of dry holes. However, it could also yield larger finds. In a joint press release, the three companies said they had agreed to combine their expertise…
Uniper, a German gas importer, signs a 15-year deal with Equinor in Norway
Germany's Uniper signed a contract to import more than 30 terawatt-hours of gas per year from Equinor starting in 2027. After the full-scale invasion of Ukraine, Moscow cut all energy ties to the continent. Norway is now the number one supplier. Uniper has made a new move to diversify their supply base, following a recent agreement signed with Canada.
North Dakota oilfield activities expected to increase in the second half of the year, regulator states
The 'Department of Mineral Resources' in North Dakota said that oilfield activity will increase in the second half of the year, as operators speed up completions and add more rigs to take advantage of high oil prices. The Iran conflict and disruptions in Middle Eastern oil supply have kept prices high, which has encouraged producers to increase activity.
US offers 81 million acres of Gulf of Mexico oil leases
The Trump Administration will on Wednesday offer oil and gas drilling companies more than 81 million acres (32,8 million hectares), in the Gulf of Mexico. This is part of a plan to boost domestic energy production by establishing regular offshore lease sales. This is the second sale since the U.S. and Israeli war against Iran disrupted global oil flows, sending oil prices to four year highs.
BP sells its North Sea business as CEO urges overhaul
BP launched a formal process to sell its North Sea operations on Friday as the new CEO Meg O'Neill accelerates a portfolio overhaul aimed reducing debt and simplifying BP. The British Prime Minister Andy Burnham had said earlier that he would "take a pragmatic" approach in developing and using the oil and gas resources of?the North Sea. He…
State regulator: North Dakota oil production expected to remain steady, despite the price decline
North Dakota's regulator stated that energy companies will likely keep crude production steady in North Dakota this year, the state with the third largest oil production in the United States, despite the sharp drop in oil prices following the signing of an interim agreement between the United States, Iran, and the end of their war. The oil prices dropped on Thursday…
FT reports that BP has held discussions to sell North Sea assets for PS2 billion to Ithaca.
The Financial Times reported that BP had advanced 'talks' to sell its UK North Sea assets to Ithaca _Energy _in a??deal worth $2.69 billion, citing sources familiar with the situation. The report stated that despite the failure of the recent talks, BP is still exploring its options and could pursue a 'deal' with another competitor. Ithaca…
U.S. oil companies in North Dakota are cautious about drilling despite rising prices
?U.S. Oil operators in North Dakota are cautious about increasing?drilling? despite the sharp rise in oil price caused by the Iran War. They want to know if the higher prices will last for long enough to justify the new investment. Mark Bohrer is the assistant director for the Oil and Gas Division of the State's Industrial Commission. He said that while the prices are higher…
Equinor and Aker BP exchange stakes in several Norwegian oil fields
Equinor, a Norwegian oil company and BP said that they had agreed to swap stakes in several 'oil and gas' fields near the Norwegian coast. This could increase production through accelerating new developments. The initial deals included?stakes? in a cluster known as Ringvei Vest, as well as?the Yggdrasil area and?the?Wisting area. Further transactions could follow, according to the companies.
Cyprus may need to raise extra funds for the construction of a huge European power cable
If an upcoming cost assessment confirms that the project's costs have ballooned, then it may be necessary to raise additional funds in order to continue. This is what Cyprus' energy ministry told? ?on Tuesday. The Great Sea Interconnector project is a 1.9 billion euro ($2.2 billion) project that will build a transmission line linking Greece with Cyprus, and then Israel under the Mediterranean Sea.
Nigeria, Morocco to Sign Atlantic Gas Pipeline Deal in Q4 2026
Nigeria and Morocco expect to sign an intergovernmental agreement in the fourth quarter of 2026 to advance a major Atlantic coast gas pipeline project, Nigeria's foreign ministry said.The planned agreement, to be signed by Nigerian President Bola Tinubu and Morocco's King Mohammed VI, follows preliminary technical studies on the Nigeria-Morocco Gas Pipeline, also known as the African Atlantic Gas Pipeline.The development
Bloomberg News reports that BP is considering a possible exit from the UK North Sea.
Bloomberg News reported Friday that BP is considering selling some or all its UK North Sea assets as part of a broader initiative to reduce debt and refocus the company on oil and gas projects with higher returns. According to the report, the company is currently conducting an internal review on its UK upstream operations. These could fetch around 2 billion pounds ($2.72billion) if they were sold in full.
Norway's Vaar Energi Q1 operating profit lags forecast
Vaar Energi, a Norwegian oil company, reported a lower than expected operating 'profit for the first quarter. It maintained its dividend and capital expenditure guidance. Vaar, listed in Oslo, increased its earnings before interest and taxes (EBIT) from $972 to $1.31 Billion between January-March. This is a significant increase but still falls…