Author: intent

MODEC secures ExxonMobil contract for Hammerhead FPSO in Guyana

Oil & Gas‚ Oil and Gas Industry‚ Uncategorized | intent | April 22, 2025 | Comment off

The contract, issued as a Limited Notice to Proceed (LNTP), allows MODEC to begin early-phase work on the FPSO while awaiting regulatory and government approvals. Phase one of the project will involve front-end engineering and design (FEED), followed by engineering, procurement, construction, and installation (EPCI) in phase two—pending final project sanction by ExxonMobil Guyana and its Stabroek Block co-venturers.

The Hammerhead FPSO will have a production capacity of 150,000 barrels of oil per day, along with processing facilities for associated gas and water. It will be moored in approximately 1,025 meters of water using a SOFEC spread mooring system.

The LNTP enables MODEC to begin FPSO design activities to support an early project startup target of 2029, should approvals move forward.

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Chevron, TotalEnergies begin oil production at Ballymore project in deepwater Gulf

Oil & Gas‚ Oil and Gas Industry | intent | April 22, 2025 | Comment off

Chevron Corp. has started oil and natural gas production from the Ballymore field, a deepwater subsea tieback in the Gulf of Mexico/Gulf of America.

The project, located about 160 miles southeast of New Orleans in the Mississippi Canyon area, is Chevron’s first development in the Norphlet trend. Ballymore connects three production wells to the existing Blind Faith facility, eliminating the need for a new offshore platform.

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Trump’s Tariffs Just Torched His Own Energy Agenda

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

President Trump’s tariff policies – which tanked oil prices and raised the odds of a recession – are undermining America’s petroleum trade surplus. That’s not a desirable outcome for an administration fixated on fixing trade deficits. Petroleum and energy trade, in fact, is one of the few sectors in which the U.S. has a large trade surplus in the dozens of billions of U.S. dollars annually.

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Oil Prices Are Recovering, But Can Exporters Outlast the Tariff Circus?

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

Whether China will keep this rate of imports going forward is an open question, with U.S. exports of crude to the world’s top importer clearly set to get decimated if not outright sapped. For oil exporters, however, the more pressing issue is how long the tariff war will continue. Alas, this is also an open question at this part, although there is a chance of good news down the road. Until then, there will be some suffering, especially among the less wealthy oil exporters.

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Crude Oil Gains 2% on Hopes of Tariff War Truce

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

Despite bullish inventory and mere hopes that the trade war will not escalate, global economic concerns look set to put significant limitations on how far crude could climb in this climate. The World Trade Organization (WTO) slashed its 2025 global trade growth forecast from +3.0% to -0.2%, citing escalating tariff risks. If the U.S. proceeds with reciprocal tariffs, global trade could shrink by as much as -1.5%, raising fears of reduced energy demand.

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U.S. Slaps More Sanctions on Iran’s Oil Industry

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

The ultimate goal of the sanctions is to reduce Iran’s oil exports to zero, as stated by President Trump in a February directive to the State Department. The president directed the Secretary of State to “implement a robust and continual campaign, in coordination with the Secretary of the Treasury and other relevant executive departments or agencies, to drive Iran’s export of oil to zero, including exports of Iranian crude to the People’s Republic of China.”

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Trump Axes Equinor Wind Project

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

The Empire Wind project has a price tag of $5 billion, with Equinor saying in January it had secured a financing package of $3 billion. The installation was planned to power 500,000 New York homes and was expected to reach its commercial operation date in 2027. With a contracted capacity of 810 megawatts, Empire Wind 1 was going to be the first offshore wind project to connect to the New York City grid. Now, its future is in question as President Trump and his administration crack down on the technology.

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TotalEnergies Agrees 15-year LNG Supply Deal with Enadom

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

Global energy major TotalEnergies SE signed a heads of agreement (HoA) with Energia Natural Dominicana Enadom, S.R.L. (Enadom) for the delivery of 400,000 tons of liquefied natural gas (LNG) per year. TotalEnergies said in a media release that the HoA with the joint venture between AES Dominicana and Energas in the Dominican Republic is subject to the finalization of sale and purchase agreements (SPAs). Once the SPAs are signed, the agreement will start in mid-2027, with a 15-year term, and the price will be indexed to Henry Hub.

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APA Corp Makes Leadership Changes, Names Ben Rodgers as CFO

Oil & Gas‚ Oil and Gas Industry | intent | April 17, 2025 | Comment off

In this role as EVP and CFO, Rodgers will oversee all financial activities and departments, including Accounting, Audit, Investor Relations, Planning, Tax, and Treasury. He joined APA in 2018 and previously served as SVP, Finance, and Treasurer. He also served as CFO of Altus Midstream and later as a director on the board of Kinetik Holdings Inc., APA said. He currently serves on the board of Khalda Petroleum Company, a joint venture between APA subsidiary Apache Corporation and Egypt Petroleum Company.

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