Upstream news

Saudi Arabia is preparing to increase its oil output to regain its market share, with abandoning its required oil price part of the plan.

Multiple energy companies, both domestic and international, have submitted bids for the ninth round of India's Open Acreage Licensing Policy (OALP-9), as confirmed by the Directorate General of Hydrocarbons (DGH), the country's upstream regulator.

DNO ASA, the Norwegian oil and gas operator, announced the completion of a second well delineating the play-opening 2023 Heisenberg oil and gas discovery in Norwegian North Sea license PL827SB.

Challenger, with primary assets in the South American nation, has now received government approval to move the AREA OFF-1 licence to Chevron.

The addendum is for the Azeri-Chirag fields and the deepwater portion of the Gunashli field (ACG) in the Azerbaijan sector of the Caspian Sea.

With methane emissions at near record levels, the IEA, UNEP and EDF have unveiled a new framework to report progress in reducing emissions by oil and gas companies.

Empire Petroleum Corporation has fixed the close of business on 30 September 2024 as the record date for a proposed subscription rights offering.

Saudi Arabia exported 5.7 million bbl/d of oil in July, the lowest level since August 2023, official data has revealed.

The US will continue to supply natural gas to North-West Europe as the region continues its decarbonisation efforts.

US gas company Chesapeake Energy's acquisition of Southwestern Energy is now expected to close early in 4Q24, Reuters cited the company’s CEO Nick Dell'Osso as saying.