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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Natural Gas
05-01-2025

Senegal, Mauritania Take Step Towards Shared Gas Production
Senegal and Mauritania said Wednesday they had moved a step closer towards producing gas after opening the first well at a field off their maritime border.The two countries share the Greater Tortue Ahmeyim (GTA) offshore natural gas field.It was jointly d
Natural Gas
05-01-2025

Prioritising Imported RLNG to Domestic Gas Harms Energy Sector
Pakistan’s energy sector is grappling with escalating financial issues, primarily driven by the forced suspension of domestic natural gas production. Currently, energy sector (power and gas) circular debt stood at over Rs 5.5 trillion despite go
Oil&Gas Drilling
04-01-2025

Greening Offshore Drilling: Rigs Powered by Alternative Fuels in Pursuit of Low-Emission Era
As the offshore energy industry continues its gradual shift to low-carbon and renewable energy sources, offshore drilling players are intensifying their efforts to slash emissions on the path to a sustainable future. While drilling rigs largely run on die
Oil&Gas Drilling
03-01-2025

Repsol Resumes Exploration Drilling in Libya‎ After a 10-Year Hiatus
Libya’s state National Oil Corporation (NOC) reported yesterday (31 December 2024) that Spanish oil company Repsol has resumed exploration activity in the Murzuq Basin after a hiatus of more than a decade – starting in 2014.‎Th
Natural Gas
04-01-2025

Nortrans Offshore Wins Flotel Work on Romanian Gas Project
Singapore-based Nortrans Offshore has landed a charter deal with Italian offshore engineering and construction giant Saipem for one of its maintenance and support vessels.The 2015-built flotel Temis will work on the Neptun Deep gas development project in
Natural Gas
04-01-2025

Iran to Commission New Well at Joint Gas Field With Qatar
The first domestic well (infill) in the South Pars gas field (North Dome in Qatar), Iran's joint gas field with Qatar, will be put into operation in a month, Executive Director of Iran's Pars Oil and Gas Company Turaj Dehgani told reporter
Natural Gas
03-01-2025

Starved of Russian Gas, Industry Shuts Down in Breakaway Moldovan Region
The coat of arms of Transdniestria is depicted on a banner in central Tiraspol, in Moldova's breakaway region of Transdniestria May 5, 2022.The cut-off of Russian gas supplies to Moldova's breakaway Transdniestria region has forced the clo
Oil Price
03-01-2025

Brazil’s Petrobras Raises Jet Fuel Prices by Around 7% in Key Markets
The logo of Brazil's state-run Petrobras oil company is seen at its headquarters in Rio de Janeiro, Brazil October 16, 2019.SAO PAULO, Brazilian state-run oil firm Petrobras (PETR4.SA),hiked jet fuel prices for distributors starting on Jan. 1 by a
Oil Pipeline
02-01-2025

Iraqi Cabinet Approves $4.6 Billion Basrah-Haditha Oil Pipeline Project
The Iraqi cabinet has given approval for a Basrah-Haditha oil pipeline project, a statement from the Prime Minister's office said on Monday.The pipeline will cost about 5.97 trillion Iraqi dinars ($4.56 billion), the statement said.Iraq's
Natural Gas
02-01-2025

Subsea7 Expands Its Scope for Giant Black Sea Gas Project With IRM Services
Subsea7 has secured a contract with Turkish Petroleum Offshore Technology Center (TP-OTC) to provide inspection, repair and maintenance (IRM) services for Türkiye’s largest natural gas field.The contract for the Sakarya gas field develo
Oil Field
02-01-2025

Brava Energia Restarts Production at Papa-Terra Field
Brava Energia, formerly 3R Petroleum before the merger with Enauta, has restarted production at Pappa-Terra field assets in the Campos Basin, offshore Brazil.During the production shutdown, significant progress was made in the maintenance and integrity re
Oil&Gas Drilling
02-01-2025

Noble Rig Scores Multi-Well Drilling Gig Offshore Suriname
U.S. offshore drilling contractor Noble Corporation has got a new drilling assignment off the coast of Suriname, which will be conducted by its 2009-built semi-submersible rig, currently stationed in Trinidad and Tobago.Thanks to a deal with Petronas Suri
Crude Oil
02-01-2025

Oil up Over Strong Economic Data From China, Weakening Us Dollar
Chinese authorities approve record fiscal stimulus package of 3 trillion yuan to boost economy, contributing to market optimism over future oil demandOil prices continued to rise on Tuesday, buoyed by strong economic data from China and a weakening US dol
Oil Exploration
02-01-2025

Fresh Oil & Gas-Condensate Discovery Comes to Light in Namibia
Portugal’s oil and gas company Galp has found more light oil and gas-condensate in the second of up to four wells within its current exploration and appraisal (E&A) program in license PEL 83 off the coast of Namibia. This has put a Saipem-ow
Oil and Gas Equipment
02-01-2025

FPSO Atlanta to Start Production off Brazil in Coming Days
Brazilian oil and gas company Brava Energia has received the authorization from the National Agency of Petroleum, Natural Gas and Biofuels (ANP) to start production from Atlanta floating, production storage, and offloading (FPSO) unit offshore Brazil.Brav
Oil Price
02-01-2025

South Africa’s Petrol, Diesel Pump Prices to Rise in January
South Africa's government said that the petrol pump price would increase by up to 19 cents a litre and the diesel price would rise by up to 10.50 cents a litre from January 1.South Africa's fuel prices are adjusted monthly due to factors including
Oil&Gas Drilling
02-01-2025

PV Drilling Eyes Southeast Asian Oil and Gas Drilling Market
Petrovietnam Drilling and Well Service Corporation (HOSE: PVD) successfully exceeded its 2024 business targets, with all financial indicators significantly surpassing projections.In 2025, PV Drilling will continue another ambitious journey to expand its o
Natural Gas
02-01-2025

Galp Finds Oil and Gas Condensate Offshore Namibia
Galp, together with its partners NAMCOR and Custos, has found more light oil and gas condensate in a well at PEL83 license offshore Namibia.The partners drilled and logged the Mopane-2A well (well #4) in PEL83, which was spudded on December 2, 2024, using
Canada
02-01-2025

Coelacanth Energy Eyes Tenfold Increase in Oil Production in 2025
"We believe we're going to be able to create significant value over the next three to five years," said Rob Zakresky, president and CEO of Coelacanth Energy.Canadian oil and natural gas exploration and development company Coelacanth Ener
Oil Price
02-01-2025

UAE Petrol, Diesel Prices Remain Unchanged for January 2025
This stability follows months of declining fuel prices in 2024, with Super 98 petrol dropping from a high of Dh3.34 in May to the current rate of Dh2.61Petrol and diesel prices in the UAE for January 2025 will hold steady, the country’s fuel pri
Natural Gas
03-01-2025

Saipem’s Castorone en Route to Türkiye’s Largest Natural Gas Field for Pipeline Installation
Saipem’s pipelay vessel Castorone is on its way to the Black Sea where it will perform offshore pipeline installation for the second phase of Türkiye’s largest natural gas field.Source: SaipemOn its way to the Sakarya project,
Oil Price
31-12-2024

Oil Inches Lower in Thin Trade, Investors Eye China, US Data
Oil prices slipped lower on Monday in thin holiday trade ahead of the year-end as traders awaited more economic data from China and the U.S. later this week to assess growth in the world's two largest oil consumers.Brent crude futures fell 6 cents
Oil&Gas Drilling
31-12-2024

Very Few Changes in Drilling Activity of Oil/Gas Plays
The one oil play across the US with a gain in drilling activity in the past week was the Williston Basin, according to the most recent rig report from Baker Hughes Co.Located mostly in North Dakota but stretching into South Dakota, Montana and Canada, the
United States
03-01-2025

New York Fires $75 Billion Shot for Big Oil to Foot the Landmark Climate‘Superfund’ Bill
As the climate crisis continues to wreak havoc across the globe, New York has taken decisive action to hold fossil fuel players accountable for their pollution effects by establishing a new climate fund, described as landmark legislation to strengthen the
Crude Oil
31-12-2024

Chinese Energy Giant Exceeds 20 Mln Tonnes of Oil, Gas Output in 2024
Shaanxi Yanchang Petroleum (Group) Co. (YCPC) in northwest China has achieved a major milestone in the country's energy sector, shattering its own production records by surpassing 20 million tonnes in crude oil and natural gas production.YCPC, one

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Turkmenistan Expands Oil Production at Uzynada Field

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UK Eases North Sea Oil and Gas Licensing for Existing Fields