Month: June 2026

OPEC+ will keep November oil production targets unchanged as Middle East disruptions constrain actual output and crude prices remain near $100/bbl.

Aker BP has appointed a new executive management team effective January 2027, reorganizing its leadership around exploration, development and production to streamline offshore operations.

Petrobras has made a second oil discovery in its ultra-deepwater Morpho well offshore Brazil, identifying another oil-bearing interval in the Foz do Amazonas basin.

ConocoPhillips has signed a 20-year agreement to purchase 1 MMtpa of LNG from Venture Global beginning in 2030, expanding its long-term LNG supply portfolio.

Flowco has acquired Lifting Solutions for approximately $113 million, expanding its artificial lift portfolio with continuous rod and progressing cavity pump technologies.

EnerMech has secured a five-year extension of its inspection and asset integrity contract with Chevron Australia, continuing its services through 2031.

Seismos has opened a full-scale acoustic research center in Texas to advance closed-loop well stimulation, combining real-time sensing, AI and a 2,349-ft flow loop to improve completion performance.

OLI and specialists from major operators including bp, Chevron, ExxonMobil and Shell have developed a common technical framework for assessing and managing mineral scale risk across upstream operations.

Canada, Alberta and five major oil sands producers are advancing a framework that links future production growth and export capacity with the Pathways CCS project and additional emissions reductions.

Tullow Oil has lost a $196.5 million tax arbitration over its Ghana operations, sending shares down about 50% and adding pressure on a company increasingly reliant on its core Ghana assets.