Business/economics
EY reports an 11% decline in reserve additions and the first sub-100% reserve replacement ratio since 2021, even as crude output climbed.
Superior seeks to expand its international footprint through the acquisition, which is reportedly valued at $1.2 billion.
By acquiring 100% of Ventura’s outstanding shares, SED Energy Holdings would scale its business into a combined $1 billion company backed by a $1.3 billion contract backlog focused on deepwater drilling, shallow-water tender rigs, and seismic acquisition.
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The London-based supermajor is stepping back from startup investing as it seeks to focus capital on its oil and gas business. -
After a record year for LNG project approvals in 2025, multiyear repairs to war-damaged liquefaction facilities in Qatar and the UAE threaten to slow the growth of global LNG capacity.
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The declaration builds on a memorandum of understanding the partners signed with Egypt in May to process Block 10 gas at the country’s LNG export and domestic gas facilities.
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A new licensing deal with ZL Chemicals will make Chevron’s unconventional EOR technology available to other tight-oil producers.
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Crude benchmarks spiked amid concerns that the US-Iran ceasefire is collapsing as commercial shipping comes under renewed attack.
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Schneider Electric says the deal advances its vision of creating intelligent industrial ecosystems that connect physical assets with digital insights across the asset life cycle.
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The firm’s latest analysis puts the bulk of the blame on a fragmented supply chain.
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The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
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Output is rising fast in the South American shale play and putting Argentina on a course to soon reach 1 million B/D.
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Ultradeepwater prospects along the northern coast of Brazil could help offset decline in legacy basins, though permitting hurdles remain a wild card.
