Saudi Aramco said it’s looking at options to expand its oil export capacity as the Iran war disrupts flows through the Strait of Hormuz and Houthi rebels threaten shipments in the Red Sea.
Odfjell Drilling has returned its Deepsea Atlantic semisubmersible rig to operations following a 106-day off-hire period after an equipment handling incident earlier this year.
ADNOC and SLB have deployed an artificial intelligence-enabled drilling platform across more than 120 onshore and offshore drilling rigs, expanding the use of real-time operational intelligence to improve drilling efficiency and reduce downtime across one of the industry’s largest rig fleets.
Sercel has been awarded a one-year contract by ExxonMobil Global Projects to deploy its Marlin simultaneous operations (SIMOPS) platform in support of the Whiptail development in Guyana’s Stabroek Block.
Intermoor, Acteon’s moorings and anchors business line, has been awarded a three-year contract by Petrobras to provide inspection, maintenance and operational readiness services for offshore mooring and subsea equipment supporting the operator’s assets in Brazil.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 2.69 million barrels in the week ending July 30, despite analyst expectations for a 2 million barrel draw. In the week prior, US crude oil inventories fell by 3.3 million barrels.
Oil slid to the lowest in over three weeks as optimism grew that the US and Iran are moving closer to an agreement that would reopen the vital Strait of Hormuz chokepoint.
Lekan Aluko, CEO of PetroVision, talks to The Energy Year about Africa’s upstream investment outlook and the commercial and fiscal factors required to optimise the bankability of energy projects. PetroVision is an energy consultancy firm with offices in Cape Town, Lagos and London.
Nigeria said it approved a $4.5 billion arrangement with the state-owned energy firm that will liberate funds to bolster foreign-exchange reserves and spending on the government’s ongoing infrastructure priorities.
Indian refiner Chennai Petroleum Corporation Limited plans to boost the crude oil refining capacity at its Manali refinery by a third to 280,000 barrels per day (bpd), the refiner said in its 2025/2026 report.