Asset/portfolio management

The transaction broadens the company's North Sea footprint with long-life assets that boost production and reserves.

The deal adds over 1,000 potential drilling locations and almost doubles oil production for Houston-based Magnolia.

The deal is the largest acquisition in Mitsubishi Corp.'s history and adds one of North America's leading shale gas assets to its portfolio.

The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.

The next wave of unconventional growth will likely come from basins in Argentina, the Middle East, Australia, and elsewhere, fueled by expertise gained from shale plays in North America.

The $5.1 billion ultradeepwater project is Angola’s first integrated cross-block development and sits at the top of Azule’s Southern African portfolio.

ExxonMobil and QatarEnergy’s MoU with Cairo to monetize Cyprus’ offshore Glaucus and Pegasus natural gas supports Egypt’s strategy to become the Eastern Mediterranean’s leading gas processing and LNG export hub.

Still flowing nearly 40 years after startup, Gullfaks recently delivered its 5,000th cargo of sweet, low-sulfur crude to Sweden, underscoring how Equinor’s aging shelf assets continue to support Europe’s energy supply.

Weatherford CEO Girish K. Saligram said the acquisition will bolster Weatherford’s completions offerings and unconventional reservoir capabilities.

Since the US arrested and removed Venezuelan President Nicolás Maduro on 3 January 2026, all eyes have turned toward the country’s vast oil reserves, the largest of any country. From 2005 to 2024, oil production in Venezuela fell by 70%, from 3.1 million B/D to just 0.9 million B/D. The race is on to bring production back, but aging infrastructure and expatriation pre…