Upstream

BP to sell key business unit in 'early Christmas present,' for shareholders Upon completion, Stonepeak will hold 65% stake in new joint venture, with BP holding the remaining 35%

Sovcomflot gets its hands on first Russian-built LNG carrier The Alexey Kosygin will be followed by two more ships next year

US player poised to acquire Petrofac's Asset Solutions business CB&I is a leading global designer and builder of storage facilities, tanks, and terminals

BP to sell key business unit to leading investment firm in $6 billion deal Upon completion, Stonepeak will hold 65% stake in new joint venture, with BP holding the remaining …

US player poised to acquire financially troubled Petrofac's Asset Solutions business CB&I is a leading global designer and builder of storage facilities, tanks, and terminals

Petronas signs key gas supply deal with Chinese player The Petronas subsidiary has entered into a Sale and Purchase Agreement (SPA) with the Chinese player for the supply of one …

Floating LNG finding its sea legs in Africa As onshore LNG projects on the continent face major headwinds, offshore liquefaction schemes navigate smoother waters

Australian player set to pick up stakes in 'highly prospective' exploration assets The transaction involves three to four near-term exploration wells planned for drilling over 2026 and early 2027

Chinese state giant unveils 'significant' offshore discovery Located in the central waters of the Bohai Sea, the Qinhuangdao 29-6 oilfield’s discovery well was tested to produce about 2,560 bpd of …

Indonesia launches new licensing round A total of eight oil and gas blocks are up for bidding

Field development plan for FPSO-focused gas project in ‘final stages’ of approval Field development plan submitted earlier this year for Vietnamn's Nam Du & U Minh projet contemplates plateau production …

SLB signs deal with Aramco for unconventional gas work Five-year contract includes advanced stimulation, well intervention and frac automation in Saudi Arabia fields

Subsea7 wins deal for US Gulf expansion project Offshore contractor to help with LLOG’s Buckskin South development

Kazakhstan hands major exploration job to state player Gas pipeline operator and producer Qazaqgaz will manage exploration at Saralzhyn block in west of Kazakhstan

Viaro Energy loses UK asset stripping appeal High court ruled in favour of Viaro Energy last year

2025: The oil and gas year in cartoons Upstream looks back on key moments for the oil and gas industry over the past 12 months, as seen through the artwork …

UK North Sea outlook: After a bruising year, it’s time to Labour on UK government has delivered some policy clarity in 2025 that will set the tone for North Sea …

Equinor ‘evaluating’ new Trump order halting Empire Wind New attack on offshore wind project comes just weeks after greenlight was issued to gas pipeline scheme that was seen as price …

Singapore-based Bluewhale Offshore picks up 'substantial' stake in leading services player The new offshore entity will be rebranded as BlueOOS

Milestone achieved for key Southeast Asian floater The Block B FSO is under construction at OceanStar’s Nantong yard, with delivery expected by the third quarter of 2027

Asian operator completes key subsea installation project The subsea installation work was carried out using a jack-up rig – the first such execution in the Indian offshore region, Cairn Oil …

Leased FPSO planned for Australian offshore gas project Newly-listed Equus Energy aims to kickstart FEED on its Equus gas project in 2027

Seatrium and Maersk resolve $475 million contract dispute Seatrium will deliver the vessel next year with payment from Maersk under a partial interest-bearing credit scheme

Petronas awards multimillion-dollar EPC contract EPC for wellhead platforms is scheduled to commence this month

Fluor to divest stake in China joint venture COOEC, through its subsidiary, will acquire Fluor’s entire equity interest in joint venture

US LNG project moves closer to reality with formal equipment orders Commonwealth LNG eyeing first quarter FID after confirming purchases with Baker Hughes, Honeywell, Solar Turbines

In a wild year with Trump, oil and gas policy was an oasis of ‘normal’ Oil prices sank thanks to tariffs and Opec, but permitting moves and sanctions were easily …

Trump halts leases for all US offshore wind projects under construction Administration suspends all leases with projects under construction due to ‘national security’ considerations

Shell finds oil success with exploration well in US Gulf UK supermajor’s Nashville well in Norphlet region deemed a success by partner Ineos Energy

Ukraine gains two new routes for gas imports Kyiv seeks to boost natural gas import security as domestic gas supplies continue to face Russian attacks

Viridien completes updated seismic in Brazil pre-salt province Campaign covered an area near BP's Bumerangue discovery in the Santos basin

Exploration in Norway 2026: Why drill if you can’t develop? Upstream takes a look at what Norwegian explorers have in store for 2026

Saipem confirms multibillion-dollar award at world's largest offshore gas field Qatar is spending heavily on expanding the North Field while also carrying out offshore sustainability project

Kazakhstan targets 2026 negotiations for country's third largest oil project Country plans to open talks with Karachaganak shareholders amid expectations of success in a multibillion dollar arbitration claim

UK-listed independent expands to the US Deal will expand Harbour Energy's footprint to US Gulf

Middle East contracting heavyweight secures multiple deals offshore Saudi Arabia Upstream understands that the EPCI projects are part of Aramco’s coveted long term agreement (LTA) framework with offshore contractors

Australian players reach key settlement on Senegal offshore asset The Australian energy giant had earlier claimed $6.03 million from Far related to the sale of its interest in Sangomar in …

State-owned operator fires up key shallow-water asset in South China Sea The Xijiang Oilfields 24 Block Development Project is expected to produce 18,000 barrels of oil equivalent per day in …

Four in battle for $4 billion-plus Middle East project prize Gas facilities in Abu Dhabi being upgraded to accommodate additional incremental gas likely to be produced as part of expansion …

Drillship arrives at deepwater exploration site in Bulgaria Rig will target OMV Petrom's prospect not far from big Goktepe discovery gas find in Turkish waters where appraisal well flows gas …

Petrobras shuts down Campos basin platform after gas leak No timeframe as to when output from the P-40 platform will be resumed

UK sanctions Russian regional oil giant Tatneft's strong presence in Kazakhstan is now under threat

Petrobras takes final investment decision at deepwater project Brazilian operator expects to conclude negotiations with SBM Offshore in the first half of 2026 for Sergipe-Alagoas Deepwater scheme

Energy Transfer suspends US LNG project Lake Charles LNG is a gas import facility that Energy Transfer is transforming into an export terminal

South Sudan leader lambasted for creating world’s ‘most corrupt’ country US, UK and Norway call on President Salva Kiir and arch rival Kier Machar to end conflict in oil-rich nation