The share price of Gran Tierra Energy Inc. (NYSE:GTE) surged by 21.1% between February 13 and February 20, 2026, putting it among the Energy Stocks that Gained the Most This Week. Here is Why Gran Tierra Energy (GTE) Gained This Week Gran Tierra Energy Inc. (NYSE:GTE) is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia, and Ecuador. Gran Tierra Energy Inc. (NYSE:GTE) rallied on February 19 when the company announced that ...

Core Viewpoint - Eni has signed a binding agreement to sell a 10% stake in the Baleine offshore oil and gas project in Côte d'Ivoire to SOCAR, reducing its operating stake to 37.25% while remaining the project operator [1] Group 1: Eni's Strategy and Operations - The transaction aligns with Eni's "dual exploration model," which accelerates monetization of major discoveries by selling minority stakes while retaining operatorship, a core pillar of its upstream strategy [2] - The Baleine field is significant for both Eni and Côte d'Ivoire, moving from discovery to first production in just two years, with production beginning in 2023 [3] - Baleine is Africa's first net-zero emissions upstream development, currently producing over 62,000 barrels of oil per day and over 75 million cubic feet of gas per day, with plans to increase output significantly in Phase 3 [4] Group 2: SOCAR's Expansion and Market Dynamics - For SOCAR, the acquisition expands its international upstream footprint beyond Azerbaijan and the Caspian region, building on a broader cooperation framework with Eni [5] - The transaction highlights growing international interest in West African offshore resources, particularly gas-rich developments, and the appeal of partial asset sales as a capital-management tool for major companies [6]

Core Insights - MOL Group and SOCAR have signed a production sharing agreement (PSA) for hydrocarbon exploration and production in Azerbaijan's Shamakhi-Gobustan area, with MOL holding a 65% interest and SOCAR 35% [1] - The companies plan to start seismic surveys in early 2026, followed by drilling activities, continuing their collaboration in Azerbaijan's energy sector [2] Company Developments - MOL Group's chairman and CEO highlighted the Shamakhi-Gobustan project as a significant addition to its international upstream portfolio, emphasizing the company's experience in exploration and production [3] - MOL has previously established a strong presence in Azerbaijan through its involvement in the offshore ACG project, which is crucial for central Europe's energy security [4] Historical Context - MOL entered the Azerbaijani market in 2020 by acquiring a 9.57% stake in the ACG oilfield and an effective 8.9% interest in the BTC pipeline, which transports crude oil to the Mediterranean [5] - The ACG field accounted for 14% of MOL's total production and 25% of its total reserves as of 2024, demonstrating its importance to the company's operations [5] Operational Impact - The BTC pipeline has enabled the transport of nearly 18 million barrels of MOL's crude oil from the ACG field to refineries in central and eastern Europe, showcasing the logistical capabilities of the company [6]

Core Insights - Lukoil has accepted an acquisition offer from Gunvor Group for Lukoil International, which manages Lukoil's international assets, and both companies have agreed on the principal terms of the transaction, preventing Lukoil from negotiating with other buyers [1][3] Group 1: Transaction Details - The final agreement requires Gunvor to obtain permission from the US Office of Foreign Assets Control (OFAC) and other necessary licenses and permits in relevant jurisdictions [2] - The sale is being conducted under an OFAC wind-down license, with Lukoil seeking extensions if necessary to maintain uninterrupted operations of its international assets [2] Group 2: Market Context - The sale is a response to sanctions imposed on Lukoil and its subsidiaries due to Russia's war in Ukraine, marking a strategic move by the company to divest its international assets [3] - Gunvor was the largest trader of Russian oil in the 2000s and has expanded its portfolio by acquiring various energy assets amidst market volatility since the Ukraine conflict began [4] Group 3: Lukoil's Operations - Lukoil supplies crude oil to Hungary, Slovakia, and Türkiye's STAR refinery, which is owned by Azerbaijan's SOCAR, and holds interests in oil terminals and retail fuel networks across Europe [5] - The company operates upstream and downstream projects in Central Asia, Africa, and Latin America, indicating a diverse international presence [5]

MOSCOW (Reuters) -The United States has imposed sanctions on Russia's largest oil companies, Lukoil and Rosneft, in Washington's toughest measures on Russian business since the start of the war in Ukraine. Here are some details about the two companies, which together account for around half of Russia's oil output: ROSNEFT * The company is led by Igor Sechin, a longtime ally of Russian President Vladimir Putin. * It produced some 3.7 million barrels per day (bpd) of oil and gas condensate in 2024, accou ...

Azerbaijan's state-owned oil company, SOCAR, has implemented Wolters Kluwer’s Enablon Control of Work (CoW) solution at its upstream facility on Pirallahi Island. This move represents a significant step in SOCAR’s digital transformation strategy, which aims to replace manual, paper-based systems with digital workflows for managing work permits, isolations, risk assessments and safety protocols. SOCAR is responsible for oil and natural gas production in Azerbaijan, including both onshore and offshore oper ...

Kazakhstan has restarted oil shipments through the Baku-Tbilisi-Ceyhan (BTC) pipeline after a one-month suspension, restoring a key westward export route that bypasses Russia. State company KazMunayGas confirmed that 8,800 tonnes of crude from the Kashagan field were loaded at the port of Aktau on September 13, bound for Azerbaijan. A second shipment is scheduled for September 20, according to local outlet Kapital.kz. The crude will travel by tanker across the Caspian Sea to Baku before entering the BTC s ...

Core Insights - Russian oil producers may face output reductions due to intensified Ukrainian drone attacks damaging critical export and port infrastructure [1] - China has announced a lower-than-expected third tranche of clean oil product export quotas for 2025, indicating continued tightening of export controls [3][4] Group 1: Chinese Oil Export Quotas - The third export quota batch for 2025 is set at 8.395 million tonnes, lower than the anticipated 9 million tonnes, reflecting Beijing's tightening of export controls [3] - Total Chinese product exports for the year are projected at 40.77 million tonnes, a decrease of 0.6% compared to 2024, despite an oversupply in the domestic market [4] - The largest private downstream firm, ZPC, has seen a reduction in its 2025 quota for clean and dirty products by 6% and 62%, respectively [4] Group 2: Shifts in Export Products - Jet fuel has overtaken gasoline as the main export product from China in both 2024 and 2025, with exports rising to 280,000 barrels per day, accounting for 38% of total exports [5] Group 3: Market Movements - ExxonMobil is implementing a new shareholder voting mechanism to align retail investors with board recommendations, aiming to counter activist campaigns [6] - Azerbaijan's SOCAR is nearing a deal to acquire Italiana Petroli, which operates two refineries in Italy [6] - Blackstone has agreed to purchase a natural gas plant in Pennsylvania for nearly $1 billion, adding 620 MW capacity [7] - Chord Energy is acquiring Williston Basin assets from ExxonMobil's XTO Energy for $550 million, adding 48,000 net acres and approximately 9,000 barrels of oil equivalent per day [8] Group 4: Oil Price Movements - Oil prices have been slightly increasing due to concerns over potential supply disruptions in Russia, with Ukrainian drone strikes affecting crude flows to Baltic ports [9] - The US Federal Reserve may provide support for oil prices, with expectations for ICE Brent to attempt to reach $69 per barrel [10]

Group 1 - The core agreement involves a framework for two major projects in Azerbaijan, specifically an ethylene complex and a refining complex, with a total value of approximately $12 billion [1][3] - This signing is part of a broader initiative to enhance regional economic connectivity under the auspices of the Shanghai Cooperation Organization (SCO) and reflects the strategic partnership established between China and Azerbaijan [3] - The projects aim to leverage China's advanced technology and equipment alongside Azerbaijan's geographical and resource advantages, contributing to the establishment of a regional energy and chemical hub [3] Group 2 - The signing ceremony was attended by key officials, including Azerbaijani President Ilham Aliyev, Vice Prime Minister Shahin Mustafayev, and Minister of Economy Mikayil Jabbarov, as well as executives from China Chemical Engineering Group [5]

Core Points - KBR's joint venture with SOCAR, SOCAR-KBR LLC, has secured two contracts from BP in Azerbaijan for the Sangachal Terminal Electrification project and the Shah Deniz compression gas field project [1][2] - The contracts involve detailed engineering design solutions and procurement services, building on previous work completed by SOCAR-KBR [2] - KBR has a long-standing presence in the region, contributing to Azerbaijan's clean energy security objectives through these projects [3] Company Overview - KBR provides science, technology, and engineering solutions globally, employing approximately 38,000 people across more than 80 countries [4] - The company emphasizes technology, value-added services, and long-term operations to ensure consistent delivery and predictable results [4]