Month: August 2026

Following Andy Burnham’s appointment as UK prime minister, the Aberdeen & Grampian Chamber of Commerce urged the new government to approve key North Sea projects, reform oil and gas taxation and accelerate energy investment while supporting the UK’s energy transition.

Magnolia Oil & Gas will acquire WildFire Energy for approximately $4.06 billion, adding 810,000 net acres and 53,000 boed while creating a larger Eagle Ford and Austin Chalk position in South Texas.

A London industry showcase scheduled for July 30 will highlight investment opportunities across Venezuela’s oil and gas sector ahead of Venezuela Energy Week 2026, bringing together investors, operators and energy executives to discuss upstream development and commercial opportunities.

Fluor has agreed to sell its equity stake in the ICA-Fluor Daniel joint venture to partner ICA for $175 million, ending a more than 30-year partnership that supported oil and gas, power, mining and industrial projects across Mexico.

PETRONAS Carigali has signed a third joint development agreement with Tridiagonal.ai and IBM Malaysia to expand its TriCipta AI initiative, advancing AI-driven production optimization, maintenance reliability and asset integrity across upstream operations.

ConocoPhillips has agreed to acquire a 42% interest in bp’s Kirkuk joint venture, supporting the redevelopment of four producing oil fields in northern Iraq. The project includes more than 3 Bboe of recoverable resources and additional exploration potential.

Halliburton has secured multi-year contracts from Aramco covering approximately 285 onshore wells in Saudi Arabia, expanding its integrated drilling, completions and workover services in the Kingdom.

CB&I has secured a long-term contract from EnQuest to continue serving as duty holder for the Kittiwake platform in the UK North Sea through cessation of production and decommissioning.

A new S&P Global Energy study projects U.S. LNG will become the nation’s second-largest net export industry by 2031, with feedgas demand expected to double and more than $1 trillion invested across the LNG supply chain through 2040 while domestic natural gas prices remain among the world’s lowest.

Baker Hughes has completed its acquisition of Chart Industries, creating a new operating segment that expands the company’s portfolio in LNG, gas infrastructure and industrial energy technologies while targeting $325 million in annual cost synergies.