(Oil Price)– Harbour Energy has made a gas and condensate discovery in the Norwegian section of the North Sea, which could be tied back to existing infrastructure, the Norwegian Offshore Directorate said on Friday. Harbour Energy, as operator of the license, and its partners have proven gas condensate in the ‘Camilla Nord’ prospect, the regulator said, adding that preliminary estimates indicate
(World Oil) – bp has achieved first oil from the Atlantis Drill Center 1 expansion in the U.S. Gulf of America, marking the company’s seventh major upstream project startup of 2025 and its fifth to come online ahead of schedule. The two-well subsea tieback to the existing Atlantis platform is expected to add roughly 15,000 boed of gross peak annualized average production. Atlantis—one
(Investing) – The Trump administration will hold the government’s first sale of oil and gas drilling rights in the Gulf of Mexico since 2023 on Wednesday, a key test of industry appetite for offshore acreage at a time when the United States is seeking to unleash more domestic fossil fuel production. The auction is the first of 30 mandated by
(World Oil) – Shell Plc is looking to sell a 20% stake in a Brazilian oilfield cluster to help fund the multibillion-dollar offshore development, according to people familiar with the process. The UK supermajor agreed to acquire TotalEnergies SE’s stake in the cluster earlier this year through an asset swap, and is looking to raise money while remaining operator, said the
(World Oil) – TotalEnergies has signed an agreement to merge its UK Upstream business with NEO NEXT, forming a newly expanded company—NEO NEXT+—that will become the largest independent oil and gas producer in the United Kingdom. The deal positions TotalEnergies as the new entity’s leading shareholder with a 47.5% ownership stake. Following completion—expected in the first half of 2026 pending regulatory
(World Oil) – Equinor and Aker BP have announced a new gas and condensate discovery in the North Sea after drilling two exploration wells at the Lofn and Langemann prospects, marking a promising start for Production Licence 1140. The wildcat wells—15/5-8 S and 15/5-8 A—were drilled about 7 km north of the Eirin field and roughly 240 km west of Stavanger using Odfjell Drilling’s Deepsea
(World Oil) – The UK government will stick with a controversial windfall tax for North Sea oil and gas producers until the end of the decade, dismissing complaints that the levy hurts investment and jobs. The Energy Profits Levy will remain in place until March 2030, according to a leaked document from the Office for Budget Responsibility. The decision comes as Chancellor of
(World Oil)– Transocean has secured approximately $89 million in new firm backlog after operators in Brazil, Norway and Romania exercised contract options on three of its floating rigs, the company announced. In Brazil, Petrobras exercised a 90-day option on the Deepwater Mykonos, continuing the ultra-deepwater drillship directly into its next campaign. The extension is expected to contribute about $33 million to backlog.
(World Oil) – Petrobras has confirmed another oil discovery offshore Brazil, identifying high-quality post-salt crude in the Sudoeste de Tartaruga Verde block in the Campos basin. The find further reinforces Brazil’s momentum in offshore exploration and Petrobras’ continued success in mature deepwater basins. The discovery was made at well 4-BRSA-1403D-RJS, located 108 km offshore Campos dos Goitacazes at a water depth
(World Oil) – Namibia plans to consolidate control of its petroleum sector under the office of the presidency, as the southern African nation edges toward becoming an oil producer. The move is part of a proposed amendment to the Petroleum Act, Defense and Veterans Affairs Minister Frans Kapofi — who is also serving as Minister of Industries, Mines and Energy —
(Oil Price) – Shell has exited two offshore wind power projects in Scotland as the world’s top oil and gas firms continue to scale back their investment and involvement in renewable energy. Shell has ditched plans to build two wind farms offshore Scotland, days after announcing it is withdrawing from the Atlantic Shores Offshore Wind project in the United States. Offshore
(Oil Price)– ExxonMobil is expanding its exploration portfolio offshore Greece with a new farm-in agreement for a block in the northwestern Ionian Sea. ExxonMobil, Energean, and Helleniq Energy have reached a farm-in agreement under which the U.S. supermajor will buy 60% in the Block 2 concession in the northwestern Ionian Sea, next to the Italian Exclusive Economic Zone (EEZ), Energean said on
