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(Oilandgaspress) –The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 4 January 2026, to review global market conditions and outlook. The eight participating countries reaffirmed their...

(Oilandgaspress) Transocean Ltd. announced a contract award and an extension, respectively, for two of its drilling rigs. Together, the fixtures represent approximately $168 million of firm backlog. In Brazil, the Deepwater Mykonos was awarded a contract with bp. The estimated 302-day campaign is expected to begin...

(Oilandgaspress) The Arab Shipbuilding and Repair Yard Company (ASRY) has successfully completed a series of major rig repair and upgrade projects for ADES Holding, reinforcing the strong and growing partnership between the two companies. In 2025, several ADES jack-up rigs underwent major works at ASRY. ADM-501...

(Oilandgaspress) Occidental announced it has completed the sale of its chemical business, OxyChem, to Berkshire Hathaway (NYSE: BRK.A, BRK.B) for $9.7 billion in cash, subject to customary purchase price adjustments. As previously disclosed, an Occidental subsidiary, Environmental Resource Holdings, LLC (ERH), has retained OxyChem’s legacy tort...

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