Industry News
Indian Oil’s net profit plunges more than 80% in Q1 2024, as low margins take tollÂ
The state-owned company’s revenue from operations was $25.79bn in Q1 2024, marking a decrease from $26.4bn during the same period last year.
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ADNOC
ADNOC uses AI to increase oil production at SARB field by 25%
The state-owned company is aiming to grow its production capacity to 5m barrels of oil per day (mmbl/d) by 2027.
Deal News
TC Energy to sell $722m stake in Canadian gas assets to indigenous groupsÂ
TC Energy has reached an agreement to sell a 5.34% stake in its Canadian gas assets to Indigenous communities for C$1bn ($722.1 million). Â
Company News
BP greenlights Kaskida oil project in Gulf of MexicoÂ
bp has announced the FID for the Kaskida project, marking the establishment of its sixth operational hub in the Gulf of Mexico. Â
Industry News
Trump vs. Harris: what each presidency would mean for the green transition
The presidential candidates for the world’s largest fossil fuel producer have starkly different climate policies.
Deal News
Viaro Energy to acquire Shell and ExxonMobil’s UK North Sea assetsÂ
Viaro Energy has finalised an agreement to acquire Shell and ExxonMobil’s interests in their UK Southern North Sea assets. Â
Deal News
Crescent finalises $2.1bn acquisition of SilverBow ResourcesÂ
Crescent Energy has completed its $2.1bn acquisition of SilverBow Resources, becoming the second-largest operator in the Eagle Ford. Â
Industry News
African oil body wants each member to give $83m to kick-off Africa Energy Bank
The African Petroleum Producers Organisation wants members to come up with the subscription fees to help establish the private sector funder.
Industry News
Eco Atlantic Oil and Gas signs share cancellation deal with Africa Oil
Eco’s oil and gas operations are focused on the offshore Atlantic Margins in South Africa, Namibia, and Guyana.
Company News
Chesapeake Energy swings to $227m net loss in Q2 2024Â
US natural gas producer Chesapeake Energy has reported a net loss of $227m for the second quarter of 2024.