TotalEnergies has signed a Production Sharing Contract (PSC) with South Atlantic Petroleum (SAPETRO) for two offshore exploration licenses in Nigeria. Under the deal, TotalEnergies will operate the licenses with an 80% interest, while SAPETRO holds the remaining 20%.
Saudi Aramco and Iraq's State Organization for the Marketing of Oil (SOMO) have halted selling crude oil to India's Nayara Energy, to align with the sanctions imposed by the European Union on the refinery. This is due to its majority bring owned by Russian companies, including Rosneft, Reuters reported.
TotalEnergies, along with its partners QatarEnergy, and Congo’s national oil company Société Nationale des Pétroles du Congo (SNPC), have secured the Nzombo exploration license in the Republic of the Congo.
Rosneft's revenue in the first half of 2025 declined to RUB 4,263 billion (around $52.88 billion), marking a 17.6% decrease compared to the same period last year, the company said in a statement. This reduction was mainly due to falling oil prices and a stronger ruble. Although the company worked to reduce costs and expenses, these efforts were insufficient to offset the revenue decline, partly because of mandatory tariff hikes from natural monopolies. Consequently, EBITDA for the period fell to RUB 1,054 billion (approximately $13.07 billion).
ADNOC inked a 15-year Sales and Purchase Agreement (SPA) agreement with the Indian Oil Corporation Ltd (IndianOil), India’s leading integrated energy player, to deliver 1 million tons of liquefied natural gas (LNG) annually, mainly from ADNOC’s lower-carbon Ruwais LNG project.
Baker Hughes, an energy technology company, won a long-term agreement for supplying services to bp for its Tangguh Liquefied Natural Gas (LNG) plant in Papua Barat, Indonesia.
China’s Sinopec, one of the world’s largest state-owned energy and chemical companies, signed an agreement to to deliver engineering services for ACWA Power in Yanbu, Saudi Arabia, supporting the development of what will be the world’s largest integrated green hydrogen and green ammonia facility in the country, Reuters reported.
Drydocks World, a DP World company, was awarded a major Engineering, Procurement, and Construction (EPC) contract by Mexican joint venture (JV) AMIGO LNG. The project involves creating the world's largest Floating Liquefied Natural Gas (FLNG) liquefaction facility. To be carried out at Drydocks World’s yard in Dubai, the project involves converting two LNG carriers into Floating Storage Units (FSUs) and constructing two new FLNG barges. Once operational in the second half of 2028, the four-vessel facility will provide more than 4.2 million tons per year of liquefaction capacity, surpassing any existing floating LNG development worldwide.
TotalEnergies, along with its partners Equinor and Shell, has successfully sent the first CO2 volumes by a vessel from Heidelberg Materials’ cement factory in Brevik to Northern Lights, the world's first cross-border CO2 transport and storage facility, in Øygarden, Norway. In a statement, TotalEnergies said that these volumes were injected 2,600 meters below the seabed into the storage facilities, 100 km away from the coast of Western Norway.
Iraq has announced two key achievements in its petroleum sector, marking an important step forward for the country’s energy landscape. The country has raised its refining capacity to 1.3 million barrels per day (mmbl/d), positioning itself among the top Arab countries in the sector,In addition, Iraqi Oil Ministry declared that it has initiated loading of its largest liquefied petroleum gas (LPG) tanker, which can carry up to 20,000 tons of semi-chilled gas through Basra Gas Export port.
