Saipem, an Italian multinational oilfield services company, along with with Subsea 7, a Luxembourgish subsea engineering and construction company, signed a binding merger agreement based on the terms and conditions that have been previously communicated at the Memorandum of Understanding (MoU) that was signed in February 2025.
TotalEnergies has entered into a strategic partnership with Aspen Technology, a business of Emerson, aimed at deploying advanced digital solutions across its industrial sites. These solutions will help in leveraging the efficiency of real-time data collection leading to improved operational efficiency, reduced energy consumption, and enhanced environmental performance.
Baker Hughes' financial results showed its revenues reaching $6.9 billion in Q2 2025 compared to $6.459 billion in the previous quarter in 2025 and to $7.526 billion Year-on-Year (YoY).
bp has appointed Albert Manifold as the new Chair of the company, succeeding Helge Lund. Manifold will join the board by the start of September as non-executive director and chair-elect, and will take over the Chair position starting from October.
Turkey has sent a request to Iraq asking to renew and expand the collaboration between the two countries in energy, the Iraq News Agency reported. The request was attached with a draft for a new inclusive agreement in oil, gas, petrochemical industries, and electricity. Iraq's Ministry of Oil is currently reviewing the draft agreement sent by the Turkish side and negotiating to reach a formula that serves the interests of both countries.
AVEVA, a global leader in industrial software, released its 2024 Sustainability Report at London Climate Action Week during which it revealed progress across all three pillars of the company’s sustainability framework: technology handprint, operational footprint and inclusive culture. The company reported 93% reduction in scope 1 and 2 emissions against its baseline year driven by utilizing renewable energy, careful management of office space and fleet optimization. Since 2022, the company reduced its fleet size by 58.6%, from 186 vehicles to 77 at the start of 2025. Of the remaining vehicles, 35 are hybrid and six are electric.
SLB recorded revenues of $8.55 billion in its financial results for Q2 2025, increasing 1% from Q1 2025 after reaching $8.490 billion, despite a 6% decrease Year-on-Year (YoY).
In an official statement, bp announced the selling of its US onshore wind business, BP Wind Energy North America Inc. (bp Wind Energy), to LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector.
ADNOC plans to allocate its ownership stake of 24.9% in OMV AG (OMV) to XRG P.J.S.C. (XRG), its fully owned international investment arm. This planned transfer is pending regulatory approvals.It is expected to support ADNOC’s strategy to centralize its global investment activities under XRG.
Investors and mining executives on the second day of the Egypt Mining Forum said that recent government reforms are improving the country’s appeal as a mining destination, citing a better risk-reward balance and increasing openness to foreign investment.
Speaking at one of the panel discussions on the second day of the forum, Mostafa Talaat, CEO of Egypt-based junior exploration firm ANKH Resources, praised the Cabinet’s efforts to foster transparency and open dialogue, saying these measures are encouraging companies to grow.
