Latest News
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06 Apr 26
Chevron statement regarding exclusivity agreement with Microsoft and Engine No. 1
AI is driving significant growth in demand for reliable, always on power, underscoring the importance of energy security and abundant domestic supply. To support that demand, Chevron, Microsoft and Engine No. 1 have entered into an exclusivity agreement related to the negotiation of a proposed power generation and electricity offtake arrangement. -
06 Apr 26
Brazil: Seadrill anounces West Polaris contract extension in Brazil
Seadrill has announced the ultra-deepwater drillship, West Polaris, was awarded a 1,095-day contract extension with Petrobras for the Búzios field in the Santos Basin, offshore Brazil. -
06 Apr 26
Brazil: Petrobras reports on financial settlement regarding the redetermination of the Tupi Shared Field
Petrobras reports on financial settlement regarding the redetermination of the Tupi Shared Field. Petrobras received approx. R$ 3 billion from other private companies and paid approx. R$ 600 million to the Brazilian government. -
06 Apr 26
Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman adjust production and reaffirm commitment to market stability
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 5 April 2026, to review global market conditions and outlook. -
06 Apr 26
Australia: Falcon Oil & Gas achieves stellar IP20 flow test result in the Beetaloo
Falcon Oil & Gas has announced that Shenandoah SS2-1H (SS2-1H) achieved an average 20-day initial production (“IP20”) flow rate of 10.3 million cubic feet per day (MMcf/d) over 2,632-metres (8,635-foot) across a 57 stage stimulated length within the Amungee Member B-Shale in the Beetaloo Sub-basin, Northern Territory, Australia. -
06 Apr 26
Indonesia: Lion Energy provides update on planned Bula Karang 1 well
Lion Energy has provided an update on progress at its Bula Karang-1 drilling project. Rig secured for 12 million barrel (P50) exploration well in the East Seram PSC within budget. Bula-Karang-1 well has an estimated 38% probability of success. -
06 Apr 26
US: Department of the Interior begins transition to Marine Minerals Administration
The Department of the Interior today announced the start of a phased plan to establish the Marine Minerals Administration, bringing together the functions of the Bureau of Ocean Energy Management and the Bureau of Safety and Environmental Enforcement. -
06 Apr 26
US: Weatherford announces proposal to redomesticate to the United States, establishing Texas as new legal domicile
Weatherford International has announced its proposal to reorganize the Company’s corporate structure by redomesticating its parent company from Ireland to the United States, with Texas as the parent company’s new legal home. The proposed redomestication is expected to be completed in the third quarter of 2026 -
06 Apr 26
US: BOEM highlights role of offshore leasing and planning in supporting record energy production
The Bureau of Ocean Energy Management announced today the critical role of offshore leasing, resource assessment and long-term planning in supporting record oil production on the U.S. Outer Continental Shelf, which reached more than 714 million barrels in 2025.
