PRIO, formerly known as PetroRio, has achieved production from a well in the Northern Campos Basin off the coast of Brazil nearly a year ahead of schedule.

Preliminary analysis of the gas measurements in the mud logging results indicates over 40 meters of potential natural gas pay within six separate sands in the Akçakoca Member of the SASB production zone.

This trend provides further evidence that Saudi Arabia's extended supply cuts are effectively tightening the market.

After reaching a total depth of 1,500 meters, wireline logging confirmed that all encountered reservoirs contained water, according to a statement from the company.

The United Nations announced that the transfer of petroleum from a decaying vessel off Yemen is expected to begin this week in order to prevent a potential Red Sea spill.

These contracts follow the signing of two Letters of Intent in March, with Equinor being the undisclosed client at the time.

The company has cut its spending plans for Forties by over £200 million and now intends to cease production at the field in 2026.

Originally, the decision was anticipated before Parliament's summer recess, but it is now unlikely.

During a Nigerian oil and gas conference, OPEC Secretary General Haitham Al Ghais emphasized that global demand for all types of energy is projected to increase by 23% by 2045.

The cargo will be delivered by Shell Eastern Trading Pte. Ltd., a Singapore-based unit of the British company, by September.