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…
China's CNOOC records record profit in the first half of this year on higher oil prices and output
CNOOC Ltd, a Chinese offshore oil-and-gas major, posted a record net profit for the first half of 2012 on Wednesday. Higher oil prices resulting from the Iran War?and increased production helped to boost earnings. According to a filing at the Hong Kong Stock Exchange, net?profits attributable to investors?rose by 23.4% from 69.5 billion to 85.8 billion ($12.9 billion). The oil and gas revenue has jumped by 20% to 206.1 billion Yuan.
US Judge dismisses legal challenge against Trump's offshore drilling expansion
A federal judge in Alaska on Monday dismissed a lawsuit filed by environmental groups to challenge President Donald Trump’s decision to allow offshore drilling along large swathes of previously protected coast. Judge Sharon L. Gleason of the U.S. District Court found that the lawsuit filed by groups such as?the Northern Alaska Environmental Center?was premature, because there was no imminent drilling in federal waters which were off-limits under Trump's predecessors.
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…
Norway asks Supreme Court to reverse environmental verdict against oilfields
The Norwegian government will ask the supreme court on Monday to overturn a lower-court ruling that found three oilfield permits invalid because they did not take climate into consideration. The case pits environmental groups against Norway's oil industry which provides half of the country's revenue as well as government policy to prolong extraction of natural gas and crude for many decades.
Energy Minister: Norway will drill in Arctic regardless EU's position
Norway will develop its oil and natural gas resources in Barents Sea despite the European Union’s support for a moratorium of Arctic hydrocarbon supplies. Energy Minister Terje Aasland said Norway no longer views itself as Europe’s “green?battery”. Norway is now Europe's biggest natural gas supplier, and supplies around 30% of the demand for gas in both Europe and Britain. The country's "gas" production was at near-record levels last year.
Shell's Wild Coast exploration plan is blocked by South Africa's highest court
South 'Africa's Constitutional Court blocked Shell's offshore exploration along the 'country's' pristine Wild Coast on Friday, a'setback' for the oil giant after years of legal challenges from local communities and environmentalists. This ruling is just the latest in a long line of court decisions that have dampened interest from investors and delayed offshore exploration. The majority…
