@import url(‘https://fonts.googleapis.com/css2?family=Inter:[email protected]&display=swap’); a { color: var(–color-primary-main); } .ebm-page__main h1, .ebm-page__main h2, .ebm-page__main h3, .ebm-page__main h4, .ebm-page__main h5, .ebm-page__main h6 { font-family: Inter; } body { line-height: 150%; letter-spacing: 0.025em; font-family: Inter; } button, .ebm-button-wrapper { font-family: Inter; } .label-style { text-transform: uppercase; color: var(–color-grey); font-weight: 600; font-size: 0.75rem; } .caption-style { font-size: 0.75rem; opacity: .6; } #onetrust-pc-sdk [id*=btn-handler], #onetrust-pc-sdk [class*=btn-handler] { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-policy a, #onetrust-pc-sdk a, #ot-pc-content a { color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-pc-sdk .ot-active-menu { border-color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-accept-btn-handler, #onetrust-banner-sdk #onetrust-reject-all-handler, #onetrust-consent-sdk #onetrust-pc-btn-handler.cookie-setting-link { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-consent-sdk .onetrust-pc-btn-handler { color: #c19a06 !important; border-color: #c19a06 !important; } In this Insights episode of the Oil & Gas Journal ReEnterprised podcast, Head of Content Chris Smith updates the evolving situation in Venezuela as the industry attempts to navigate the best path forward while the two governments continue to hammer out the details. The discussion centers on the new legal frameworks being established in both countries within the context of fraught relations stretching back for decades. Want to hear more? Listen in on a January episode highlighting industry’s initial take following the removal of Nicholas Maduro from power. References Politico podcast Monaldi Substack Baker webinar Washington, Caracas open Venezuela to allow more oil sales 

@import url(‘https://fonts.googleapis.com/css2?family=Inter:[email protected]&display=swap’); a { color: var(–color-primary-main); } .ebm-page__main h1, .ebm-page__main h2, .ebm-page__main h3, .ebm-page__main h4, .ebm-page__main h5, .ebm-page__main h6 { font-family: Inter; } body { line-height: 150%; letter-spacing: 0.025em; font-family: Inter; } button, .ebm-button-wrapper { font-family: Inter; } .label-style { text-transform: uppercase; color: var(–color-grey); font-weight: 600; font-size: 0.75rem; } .caption-style { font-size: 0.75rem; opacity: .6; } #onetrust-pc-sdk [id*=btn-handler], #onetrust-pc-sdk [class*=btn-handler] { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-policy a, #onetrust-pc-sdk a, #ot-pc-content a { color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-pc-sdk .ot-active-menu { border-color: #c19a06 !important; } #onetrust-consent-sdk #onetrust-accept-btn-handler, #onetrust-banner-sdk #onetrust-reject-all-handler, #onetrust-consent-sdk #onetrust-pc-btn-handler.cookie-setting-link { background-color: #c19a06 !important; border-color: #c19a06 !important; } #onetrust-consent-sdk .onetrust-pc-btn-handler { color: #c19a06 !important; border-color: #c19a06 !important; } Eni SPA discovered gas and condensate in the Murene South-1X exploration well in Block CI-501, Ivory Coast. The well is the first exploration in the block and was drilled by the Saipem Santorini drilling ship about 8 km southwest of the Murene-1X discovery well in adjacent CI-205 block. The well was drilled to about 5,000 m TD in 2,200 m of water. Extensive data acquisition confirmed a main hydrocarbon bearing interval in high-quality Cenomanian sands with a gross thickness of about 50 m with excellent petrophysical properties, the operator said. Murene South-1X will undergo a full conventional drill stem test (DST) to assess the production capacity of this discovery, named Calao South. Calao South confirms the potential of the Calao channel complex that also includes the Calao discovery. It is the second largest discovery in the country after Baleine, with estimated volumes of up to 5.0 tcf of gas and 450 million bbl of condensate (about 1.4 billion bbl of oil). Eni is operator of Block CI-501 (90%) with partner Petroci Holding (10%).

CFEnergía, a subsidiary of Mexico’s Federal Electricity Commission (CFE), has agreed to supply natural gas to Transition Industries LLC for its Pacifico Mexinol project near Topolobampo, Sinaloa, Mexico. Under the signed agreement, which enables the start of Pacifico Mexinol’s construction phase, CFEnergía will supply about 160 MMcfd of natural gas for an unspecified timeframe noted as “long term,” Transition Industries said in a release Feb. 16. The natural gas—to be sourced from the US and supplied at market prices via existing infrastructure—will be used as “critical input for Mexinol’s production of ultra-low carbon methanol,” the company said. Pacifico Mexinol The $3.3-billion Mexinol project, when it begins operations in late 2029 to early 2030, is expected to be the world’s largest ultra-low carbon chemicals plant with production of about 1.8 million tonnes of blue methanol and 350,000 tonnes of green methanol annually. Supply is aimed at markets in Asia, including Japan, while also boosting the development of the domestic market and the Mexican chemical industry. Mitsubishi Gas Chemical has committed to purchasing about 1 million tonnes/year of methanol from the project, about 50% of the project’s planned production. Transition Industries is jointly developing Pacifico Mexinol with the International Finance Corporation (IFC), a member of the World Bank Group. Last year, the company signed a contingent engineering, procurement, and construction (EPC) contract with the consortium of Samsung E&A Co., Ltd., Grupo Samsung E&A Mexico SA de CV, and Techint Engineering and Construction for the project. MAIRE group’s technology division NextChem, through its subsidiary KT TECH SpA, also signed a basic engineering, critical and proprietary equipment supply agreement with Samsung E&A in connection with its proprietary NX AdWinMethanol®Zero technology supply to the project.

Canada-based North Atlantic Refining Ltd. France-based subsidiary North Atlantic France SAS is undertaking planned maintenance in March at its North Atlantic Energies-operated 230,000-b/d Notre-Dame-de-Gravenchon refinery in Port-Jérôme-sur-Seine, Normandy. Scheduled to begin on Mar. 3 with the phased shutdown of unidentified units at the refinery, the upcoming turnaround will involve thorough inspections of associated equipment designed for continuous operation, as well as unspecified works to improve energy efficiency, environmental performance, and overall competitiveness of the site, North Atlantic Energies said on Feb. 16. Part of the operator’s routine maintenance program aimed at meeting regulatory requirements to ensure the safety, compliance, and long-term performance of the refinery, North Atlantic Energies said the scheduled turnaround will not interrupt product supplies to customers during the shutdown period. While the company confirmed the phased shutdown of units slated for work during the maintenance event would last for several days, the operator did not reveal a definitive timeline for the entire duration of the turnaround. Further details regarding specific works to be carried out during the major maintenance event were not revealed. The upcoming turnaround will be the first to be executed under North Atlantic Group’s ownership, which completed its purchase of the formerly majority-owned ExxonMobil Corp. refinery and associated petrochemical assets at the site in November 2025.

Azule Energy has started full field production from Ndungu, part of the Agogo Integrated West Hub Project (IWH) in the western area of Block 15/06, offshore Angola. Ndungo full field lies about 10 km from the NGOMA FPSO in a water depth of around 1,100 m and comprises seven production wells and four injection wells, with an expected production peak of 60,000 b/d of oil. The National Agency for Petroleum, Gas and Biofuels (ANPG) and Azule Energy noted the full field start-up with first oil of three production wells. The phased integration of IWH, with Ndungu full field producing first via N’goma FPSO and later via Agogo FPSO, is expected to reach a peak output of about 175,000 b/d across the two fields. The fields have combined estimated reserves of about 450 million bbl. The Agogo IWH project is operated by Azule Energy with a 36.84% stake alongside partners Sonangol E&P (36.84%) and Sinopec International (26.32%).   

In a release Feb. 17, Brendan McCracken, Ovintiv president and chief executive officer, said the company has “built one of the deepest premium inventory positions in our industry in the two most valuable plays in North America, the Permian and the Montney,” and that the Anadarko assets sale “positions [Ovintiv] to deliver superior returns for our shareholders for many years to come.” Ovintiv in 2025 had noted plans to sell the asset to help offset the cost of its acquisition of NuVista Energy Ltd. That $2.7-billion cash and stock deal, which closed earlier this month, added about 930 net 10,000-ft equivalent well locations and about 140,000 net acres (70% undeveloped) in the core of the oil-rich Alberta Montney.  Proceeds from the Anadarko assets sale are earmarked for accelerated debt reduction, the company said.  Ovintiv’s sale of its Anadarko assets is expected to close early in this year’s second quarter, subject to customary conditions, with an effective date of Jan. 1, 2026.