Shell PLC has put onstream a second tieback to the Appomattox production hub in the Gulf of America.
Dover, discovered 2018 in the deepwater Norphlet play, contributes 20,000 barrels of oil equivalent a day (boed) at peak, according to a statement Tuesday on the British energy giant’s United States website. Shell owns 100 percent of Dover through Shell Offshore Inc.
The angry mutterings at the Permian Basin Petroleum Association’s “Spring Swing” golf tournament this week weren’t all about missed putts or lost balls. The Texas oilmen on the fairways had a more serious concern: The president they helped elect was tanking oil prices.
SBM Offshore has signed a non-recourse sale and leaseback financing agreement for FPSO Cidade de Paraty for the total amount of US $400 million and with a tenor of 8 years. The transaction is expected to be completed before the end of April 2025 following the fulfillment of certain closing conditions.
The plunge in oil prices over the past week was more severe than the market’s dynamics justify, and the drop may be short-lived, according to Canadian energy executives gathered in Toronto.
Leaders of oil and gas producers as well as pipeline companies characterized the sudden decline — sparked by US President Donald Trump’s global tariffs and OPEC’s surprise decision to revive output more quickly than expected — as more of a shock reaction than a reflection of actual supply-and-demand imbalances.
OSI Renewables, part of the Oil States portfolio, today announced GeoLok™, a high-temperature geothermal wellhead with an integrated tensioning system. The technology improves geothermal well integrity, reduces operational costs, and enhances geothermal energy production.
Eni has received approval from Mozambique’s government for the development of Coral Norte, the company’s second floating LNG platform in the gas-rich Rovuma Basin, paving the way for a final investment decision, Reuters reported on Wednesday.
Increasing financial constraints, a low commodity price environment and a shrinking pool of prospective basins have transformed how oil and gas players explore for new barrels. Across the globe operators are prioritizing low-risk, low-cost near field or infrastructure-led exploration (ILX) prospects instead of expensive, high-risk exploration plays. ILX, although not a recent phenomenon, is a reliable avenue that capitalizes on existing production hubs and pipeline networks to commercialize smaller discoveries that might otherwise remain untapped.
NextDecade Corporation has signed a sales and purchase agreement with a subsidiary of Saudi Aramco under which it will supply the Saudi company with LNG from Train 4 of its Rio Grande LNG facility for 20 years, NextDecade announced on Wednesday.
Gunvor Group, one of the world’s biggest independent oil traders, piled into the North Sea crude market during a wider rout in futures markets.
The North Sea crude market, home to the world’s most important physical oil-price benchmark Dated Brent, often sees individual traders taking relatively large positions, meaning Gunvor’s actions aren’t definitive proof of bullishness.
NextDecade Corp. has secured a 20-year, 1.2 million metric tons per annum (MMtpa) offtake from Saudi Arabian Oil Co. (Aramco) for the planned fourth liquefaction train of the under-construction Rio Grande LNG project in Brownsville, Texas.