German Chancellor Friedrich Merz said he’s optimistic that the US will exempt Rosneft PJSC’s German unit from Washington’s latest sanctions against Russia.
Strong demand for LNG-related services drove Baker Hughes’ third-quarter financial performance above expectations, with the company reporting a 23% annual increase in orders despite a dip in net profits of 20% on the year.
The Japanese company will buy the assets from Williams and GEP Haynesville II, JERA said in a press release, adding that the assets currently produce some 500 million cu ft of natural gas daily and feature 200 undeveloped locations. The deal includes a provision to boost output from the assets to 1 billion cu ft daily, JERA also said.
The world’s biggest oil companies have salivated for a decade over the prospect of drilling in the area, in deep Atlantic waters off Brazil’s north coast. It’s especially tempting for Petrobras as output from Brazil’s existing oilfields is expected to peak around 2030. Yet environmentalists have fought bitterly against the move, warning an oil spill could imperil the ecosystem at the Amazon’s mouth to the south.
The total U.S. rig count increased by one week on week and the total Canada rig count rose by five during the same period, taking the total North America rig count up to 746, comprising 548 rigs from the U.S. and 198 rigs from Canada, the count outlined.
While total reserves declined slightly year-on-year, the report highlights a significant 31% increase in prospective resources, now estimated at 4.6 Bboe, largely due to new opportunities identified under the 33rd Offshore Licensing Round. The UK also holds an estimated 6.2 Bboe in contingent resources, representing discovered but undeveloped petroleum that could be matured through new investment and field development activity.
The group, which specializes in extracting crude from mature oil fields, derives most of its production from the central region of Africa, with operations spanning more than a dozen countries globally. Its output is many times bigger than listed companies such as Tullow Oil Plc and Kosmos Energy Ltd., which also focus on the continent.
The UK slapped sanctions on Russia’s biggest oil producers and two Chinese energy firms that deal with Moscow as London seeks to intensify pressure on the Kremlin over the war in Ukraine.
Halliburton has been awarded multiple deepwater contracts by Petrobras to deliver vessel stimulation, intelligent completions, and safety valve systems across key offshore fields in Brazil, following a competitive tender process.
Offshore services provider DeepOcean has expanded its operational capabilities across the offshore renewables and oil and gas sectors through a new time charter agreement for the multipurpose support vessel (MPSV) Glomar Supporter.