Latest News
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06 Oct 25
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06 Oct 25
Equatorial Guinea: Europa Oil & Gas announces EG-08 PSC Phase 1 extension
Europa Oil & Gas has been granted a 12-month extension to the initial 2-year period of the EG-08 PSC. Europa is currently seeking to farm out the EG-08 block, which is estimated to contain 2.196 TCF (Pmean), with the primary prospect being Barracuda with an estimated 878 BCF (Pmean). -
06 Oct 25
US: Zephyr Energy announces Paradox project independent recoverable reserves and resource evaluation
Zephyr Energy has announced the results from an updated Competent Person's Report ('CPR') on its assets in the Paradox Basin, Utah, U.S. The Company is seeking to advance the Paradox project into full commercial production and secure a project partner. -
06 Oct 25
Acteon awarded temporary mooring contract for FPSO Northern Endeavour
Intermoor, Acteon’s Moorings and Anchor’s business line, has secured a contract from Petrofac Facilities Management Limited. The scope covers engineering, mooring equipment, marine spread, installation, and removal of a temporary mooring system for the FPSO Northern Endeavour, which will be positioned offshore Singapore during its decommissioning phase. -
06 Oct 25
Denmark: BlueNord announces preliminary production for September 2025
BlueNord has announced its preliminary production figures for September 2025. In September 2025, the preliminary production was 41.2 mboepd net to BlueNord. -
05 Oct 25
UK: Wood Mackenzie analysis reveals that North Sea production can remain within net zero targets even if commercial reserves were increased by 50%
The UK could boost North Sea oil and gas production while remaining within the strictest international climate pathways, according to new Wood Mackenzie analysis. The research comes as the government consults on the basin's future amid mounting pressure over exploration licensing. -
05 Oct 25
Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman 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 October 2025, to review global market conditions and outlook. -
05 Oct 25
Ukraine: Naftogaz secures €300 million loan from the European Investment Bank for gas purchases
Naftogaz Group has signed a landmark €300 million loan agreement with the European Investment Bank (EIB). The financing will be used to purchase gas to build long-term gas reserves and to ensure stable winter supplies for Ukrainians, following damage to the country’s infrastructure caused by Russia’s ongoing attacks. -
05 Oct 25
Norway: Orlen acquires interst in Tommeliten Gamma field in deal with TotalEnergies
ORLEN Upstream Norway has entered into an agreement with TotalEnergies EP Norge to acquire interests in the Tommeliten Gamma field, located in the Ekofisk region of the North Sea. Finalization of the transaction will increase ORLEN’s reserves by approx. 6 million barrels of oil equivalent. -
05 Oct 25
Ukraine: Russia launches biggest attack yet on Ukraine’s gas production facilities
Russian forces have launched the largest strike on Naftogaz Group’s gas production facilities since the start of the full-scale invasion. Facilities in Kharkiv and Poltava regions were hit with 35 missiles, many of them ballistic, along with 60 drones. -
05 Oct 25
Iraq: Excelerate Energy receives award letter from Iraqi government to develop integrated floating LNG import terminal
Excelerate Energy has announced that it has received an official Award Letter from the Government of Iraq to develop an integrated floating liquefied natural gas (LNG) import terminal, marking a significant milestone in the country’s energy diversification strategy. -
05 Oct 25
Brazil: Petrobras begins contracting for the construction of FPSO Buzios 12
Petrobras began contracting October 3 for the construction of the FPSO Buzios 12 , which will be installed in the Santos Basin. The new unit, P-91, will be the 12th platform assigned to the Búzios field , consolidating it as the company's largest producing field and expanding its importance for the supply of natural gas in the country. -
05 Oct 25
Egypt: QatarEnergy acquires interest in North Cleopatra exploration block offshore Egypt
QatarEnergy has entered into an agreement with Shell to acquire a 27% participating interest in the North Cleopatra block offshore the Arab Republic of Egypt. Under the terms of the agreement, which is subject to approval by the Egyptian government, Shell will retain a 36% participating interest as operator. -
05 Oct 25
US: API welcomes court decision reversing offshore leasing ban
The American Petroleum Institute (API) has issued a statement after a federal court ruled that the previous administration’s attempt to permanently ban new oil and natural gas activity across millions of acres of federal waters was unlawful and exceeded the statutory authority of the executive branch.
