PJSC LUKOIL concluded an agreement with Cairn Energy PLC to acquire a 40% interest in RSSD (Rufisque, Sangomar and Sangomar Deep) project in the Republic of Senegal for $300 million in cash. The agreement also provides for potential bonus payment to Cairn Energy PLC of up to $100 million after the commencement of production. The transaction is subject to customary conditions, including the approval by the government of the Republic of Senegal.

n California’s sun-drenched Kern Valley, Chevron Corp. has found a way to use one of the state’s clean-energy programs to cut the cost of pumping oil, to the chagrin of some environmentalists.

Renewable energy has surged to capture a record share of global electricity generation, seizing more market share during the coronavirus downturn. The steep drop in electricity demand, down by more than a fifth in some parts of the world, has hit energy producers everywhere.

Neptune Energy announced the safe and successful installation of subsea oil and gas production flowlines and gas lift flowlines for its Duva & Gjøa P1 developments in the Norwegian sector of the North Sea.

After a series of major offshore oil discoveries since 2015, with the largest ever made earlier this year, the tiny South American country of Guyana has become a hotspot for international oil majors.

Ghana’s budget deficit will be more than double the initial forecast as the drop in oil prices and the coronavirus pandemic weigh on state income and economic growth.

Turkey rejected Greece’s argument that its energy exploration in the eastern Mediterranean encroaches on Greek territory, suggesting tensions in the region will remain high.

The Interstate Oil and Gas Compact Commission (IOGCC) this week passed Railroad Commission Chairman Wayne Christian's (R - Texas) resolution urging the federal government to investigate excessive dumping of crude oil by Saudi Arabia and Russia and take appropriate action.

Australia's Santos said on Tuesday it will book non-cash impairments of up to $560 million after tax, joining a number of global energy majors forced to write down assets after a coronavirus-induced slump in oil prices.

While the rest of the world continues to struggle with fuel demand recovery in fits and starts, China has been a key factor in supporting oil prices as it breaks crude oil import records.