Asset/portfolio management
In the next 3 to 5 years, South America and the Middle East will lead global investment, driven by greenfield developments, exploration, and midstream infrastructure. Brazil’s growth is fueled by deepwater pre-salt projects, while the Middle East focuses on gas and LNG, especially in Qatar, Saudi Arabia, and the UAE.
The $1.65 billion deal adds to Vitol’s presence in the West African upstream while enabling Eni to cash out early on the value of some assets while retaining an interest in future revenues.
The combined group will be renamed NEO NEXT Energy and is expected to become one of the largest independent producers in the North Sea.
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The $206 million deal for the fields offshore Trinidad and Tobago is expected to close in the third quarter of 2025. -
Assets include regasification and power generation facilities along with associated pipelines.
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The supermajor believes oil and gas will continue to play a major role in the global energy mix over the next 25 years.
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Industry leaders say they believe oil and gas will continue to play a pivotal role in the energy mix in the lengthening energy transition timeline.
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The new company, to be called Whitecap, will be the largest Alberta Montney and Duvernay landholder, sporting 370,000 BOE/D in combined production.
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Kuwait Petroleum’s managing director of planning and finance said that more investment will be needed to keep Kuwait’s mature oil fields flowing while production is brought on stream.
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The proposed joint venture aligns with Eni's satellite model strategy to create entities that manage operations and access capital markets separately from the parent company.
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In a deal described as possibly "one of the most important transactions BP has done in 20 years" by CEO Murray Auchincloss, the company has agreed contractual terms with the Iraqi government to invest in drilling and infrastructure to rehabilitate and boost production at the Kirkuk oil field.
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The operator’s sale of the US Gulf holdings is part of a larger portfolio rationalization program.
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Soft demand and mounting stacking costs drove decisions by Noble and Valaris to move on from units.
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