Tuesday, 28 July 2026

DNO ASA's Kurdistan net production dropped to 273 boepd in Q2 2026 from 39,600 boepd in the prior quarter, according to the company's trading update published via GlobeNewswire, leaving the North Sea to carry almost the entire portfolio at 84,912 boepd.

The Kurdistan figure compares with 56,070 boepd in Q2 2025, the company reported. North Sea volumes moved the other way over the same twelve months, rising from 33,348 boepd, though they slipped from 88,647 boepd in Q1 2026.

DNO said limited field operations restarted at the Tawke license in Kurdistan on 9 April, with workovers on existing wells and the relaunch of a previously announced eight-well drilling campaign. Production itself came back later: the company initiated output from the Tawke field on 28 June and from Peshkabir on 11 July.

Offshore Norway, the Dvalin Nord field started production on 30 June, according to the update. DNO expects the field to deliver 3,000 boepd net at plateau.

The Norwegian oil and gas operator paid a Q2 dividend of NOK 0.375 per share, totaling USD 39.4 million. That rate equates to NOK 1.50 per share on an annualized basis, the company said.

DNO will publish its Q2 2026 operating and interim financial results on 13 August at 07:00 CET.

Equipment procurement for the 600 MW thermal power plant under construction in Sinazongwe District, Zambia, has reached 80 percent, according to ZANIS (Zambia News and Information Services).

The scheme pairs coal mining with power generation and is being developed in partnership with ZCCM-IH, ZANIS reported, with the stated aim of raising Zambia's electricity capacity while supporting development in Southern Province.

Roy Mwamba, Deputy Chief Executive Officer of Wonderful Group, said the project's major deliveries are expected once access roads are fully opened.

Oilserv Limited has started work on the shallow-water portion of the Gas Transmission System (GTS-1) expansion serving Nigeria Liquefied Natural Gas (NLNG), the News Agency of Nigeria (NAN) reported.

The expansion is intended to reinforce the supply infrastructure feeding the Bonny Island liquefaction plant, according to NAN.

GTS-1 is the transmission line that moves feedgas toward the liquefaction facility, and the shallow-water scope now under way covers pipeline re-routing and installation in that segment.

Bidding in the Nigeria 2025 Licensing Round drew 200 technical and commercial bids from 143 prequalified companies for 37 oil and gas assets, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The round targets 300,000 barrels per day, the News Agency of Nigeria reported.

The bid count exceeds the number of assets on offer, indicating that companies filed multiple submissions across the acreage tranche. NUPRC put the prequalified bidder pool at 143 and the asset count at 37.

The commission is Nigeria's upstream petroleum regulator.

Nigeria's Federal Government will put 13 oil and gas blocks back into the bid basket in the ongoing 2025 Licensing Round, the News Agency of Nigeria reported.

The returned acreage comes with a condition attached. According to the News Agency of Nigeria, successful bidders must begin development promptly or forfeit the assets under the government's "drill or drop" policy.

That forfeiture clause shifts the burden onto award winners rather than the licensing authority, tying continued tenure to actual work on the ground rather than to the award itself.

Oil producers as a group are on track to pocket a half-trillion-dollar cash windfall this year, double the pre-war estimate, Wood Mackenzie analysts said Tuesday, according to Semafor Net Zero.

The cash is arriving as Big Oil companies post what are expected to be bumper second-quarter profits driven by the war in Iran, Semafor Net Zero reported.

So far the money is not moving. Most producers have chosen to sit on the cash rather than dole it out to shareholders or invest in new drilling, according to Semafor Net Zero.

Equity markets have already priced in part of the gain. Chevron and ExxonMobil shares are each up nearly 40% over the past year, Semafor Net Zero reported.

Canada's LNG export projects may come online into weak demand, oversupplied markets, low prices and weak investor returns, IEEFA said in a slide presentation published July 28, 2026.

The presentation, titled "The current state of LNG in Canada," frames the shift as a change in market conditions rather than a delay. IEEFA describes a new riskier market landscape for the Canadian LNG industry as Middle East tensions continue to fluctuate.

Demand-side behaviour is central to that argument. Many Asian economies handled the Strait of Hormuz crisis by cutting LNG imports and speeding up adoption of renewables, according to IEEFA. That response points away from the assumption that supply disruption in one corridor pulls buyers toward alternative long-haul cargoes.

IEEFA sets the four pressures together: weak demand, overabundant supply, low prices, and weak returns for investors. Each compounds the others for developers still hoping to launch new export capacity.