bp Acquires 40% Participating Interest in North Ustyurt PSA in Uzbekistan

SOCAR to Acquire Stakes in Comstock Resources’ Haynesville Assets and Pinnacle Gas Services

September 4, 2026

Energy

Comstock Resources announced a proposed $1.65 billion strategic partnership with SOCAR under which SOCAR will acquire interests in Comstock’s Legacy Haynesville and Western Haynesville upstream assets and a portion of Comstock’s ownership interest in Pinnacle Gas Services. The parties are targeting a definitive purchase agreement by October 31, with closing planned by the end of 2026, subject to customary conditions and approvals.

ConocoPhillips To Acquire 42% Stake In BP Energy Company of Kirkuk Limited

July 18, 2026

Oil & Gas

bp and ConocoPhillips agreed to terms under which ConocoPhillips will acquire a 42% interest in BP Energy Company of Kirkuk Limited. The partnership is intended to support the redevelopment of multiple large oil and gas fields in Iraq’s Kirkuk region and increase long-term production potential under a development and production contract.

Equinor to Acquire bp’s Interest in Bay du Nord Project

July 7, 2026

Oil & Gas

Equinor has reached an agreement with bp to acquire bp’s interest in the Bay du Nord offshore Canada project, increasing Equinor’s ownership to 100%. The transaction supports Equinor’s portfolio simplification as it continues maturing Bay du Nord toward a final investment decision targeted for early 2027.

BKV Corporation Acquires Control Stake in BKV-BPP Power Joint Venture

January 30, 2026

Energy

BKV Corporation entered into a definitive purchase agreement to acquire from Banpu Power US Corporation (BPPUS) one-half of BPPUS’ interest in the BKV-BPP Power joint venture, increasing BKV’s ownership to 75% and granting majority control. The deal provides for cash and BKV common stock consideration and is expected to enable BKV to consolidate the Power JV’s financial results for a streamlined power operating and growth platform.

Stonepeak Acquires Majority Controlling Interest in Castrol from bp (65% Stake)

December 24, 2025

Energy

Stonepeak has agreed to acquire a majority controlling interest in Castrol from bp in a transaction valuing the lubricants business at an enterprise value of approximately $10.1 billion. bp will retain a 35% minority stake, while CPP Investments will invest up to USD $1.05 billion in support of the deal; the transaction is expected to close by the end of 2026, subject to regulatory approvals.

Vår Energi Acquires ExxonMobil's Upstream Assets in Norway

December 10, 2019

Energy

Vår Energi has completed the acquisition of ExxonMobil's Norway upstream assets for a cash consideration of roughly USD 4.5 billion, a deal that effectively doubled the company's production on the Norwegian Continental Shelf. The portfolio adds interests in more than 20 producing fields (about 150,000 boepd additional), increases reserves to ~1,900 million boe and transfers some ~33–50 ExxonMobil employees to Vår Energi, reinforcing the company's position as the second-largest operator on the NCS.