Petrobras has completed the acquisition of a 75% stake and assumed operatorship of Block 3 offshore São Tomé and Príncipe. Oranto holds 15%, while the national petroleum agency holds 10%.
bp will reorganize its business into Upstream and Downstream divisions from 1 July, aiming to simplify operations, improve execution and strengthen shareholder returns.
Major energy companies including TotalEnergies, Shell, and BP are evaluating a 51% stake in the Shenandoah deepwater field in the U.S. Gulf.
Harbour is appointed operator of Mexico’s offshore Zama project with partner agreement and SENER approval. The field is estimated at ~750 mmboe, with 2026 design work next.
Santos agreed to sell its Mahalo JV stake to Comet Ridge Limited and completed the sale of Petrel/Tern interests to Eni Australia, securing cash and contingent consideration and lowering decommissioning exposure.
Nigeria’s 2025 upstream licensing round opens with 50 oil and gas blocks on offer, aiming to attract $10 billion investment and boost reserves by 2 billion barrels over the next decade.
Egypt has opened a new tender for four Red Sea blocks, applying R-Factor production-sharing terms for the first time. The six-month round, managed by South Valley Egyptian Petroleum Holding, reflects Egypt’s plan to maximise its hydrocarbon resources.
Repsol is assessing options for its upstream unit ahead of a planned 2026 liquidity event, including a possible reverse merger with APA and other US-listed partners, following preliminary discussions reported by Bloomberg.
Bloomberg reports that Namibia has introduced a draft amendment to the Petroleum Act that would reassign several petroleum oversight responsibilities from the energy ministry to the presidency while offshore discovery negotiations continue with TotalEnergies.
