Author: intent

SPIE secures five-year maintenance contract for offshore Angola oil platforms

Oil & Gas‚ Oil and Gas Industry | intent | April 9, 2025 | Comment off

SPIE Global Services Energy, a subsidiary of SPIE, has announced the signing of a five-year contract with Sonangol Exploração & Produção for the general maintenance of the Block 3/05 oil complex in Angola.

This contract, which commenced in early September 2024, covers the offshore maintenance of Cobo, Pacassa and Palanca platforms in Block 3/05, oil fields located about 200 km off the coast of Luanda and operated by Sonangol Exploração & Produção. SPIE Global Services Energy is providing general maintenance services covering electrical and mechanical equipment, HVAC (heating, ventilation, and air conditioning), as well as turbomachinery, instrumentation, and automation systems.

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Shell starts production from Dover, further advancing position in U.S. Gulf

Oil & Gas‚ Oil and Gas Industry | intent | April 9, 2025 | Comment off

Shell Offshore Inc. (Shell), a subsidiary of Shell plc, today announced the start of production at Dover, the second subsea tieback connecting new wells to the existing infrastructure of the Shell-operated Appomattox production hub in the Gulf of America/Gulf of Mexico. Dover brings an estimated peak production of 20,000 barrels of oil equivalent per day (boed).

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$17B in New Deals for World’s Largest Gas Field May Indirectly Go to Russia

Oil & Gas‚ Oil and Gas Industry | intent | April 8, 2025 | Comment off

Iran has awarded US$17 billion of contracts to attempt to reverse a dramatic projected production decline from the world’s biggest gas reservoir. Its South Pars field spans 3,700 square kilometres and holds an estimated 14.2 trillion cubic metres (tcm) of gas reserves plus 18 billion barrels of gas condensate. In addition to generating nearly 80% of Iran’s gas production, it also accounts for around 40% of its total estimated 33.8 tcm of gas reserves (mainly located in the southern Fars, Bushehr, and Hormozgan regions).

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Oil Price Crash Is Already Hitting Alberta’s Production

Oil & Gas‚ Oil and Gas Industry | intent | April 8, 2025 | Comment off

The oil industry in Alberta is bracing for difficult times ahead, with WTI prices crashing to $60 per barrel and uncertainties about oil demand growing in a world of trade and tariff wars.

Last week, the tariffs announced by the Trump Administration and the decision by OPEC+ producers to add in May more barrels to the market than expected crushed oil prices, with WTI Crude, the U.S. benchmark, crashing to $60 per barrel—the lowest level in four years.

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U.S. Natural Gas Consumption Sets New Records

Oil & Gas‚ Oil and Gas Industry | intent | April 8, 2025 | Comment off

The U.S. Energy Information Administration (EIA) recently reported that U.S. natural gas consumption set new winter and summer consumption records in 2024, highlighting the growing importance of natural gas in the global energy mix.

This surge in consumption comes amid record production levels, even as drilling activity remains subdued. The implications of these trends are significant, influencing everything from energy prices to power generation choices.

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Shell Cuts Gas Output Guidance on Unplanned Maintenance

Oil & Gas‚ Oil and Gas Industry | intent | April 8, 2025 | Comment off

Shell Plc sees lower natural gas production and LNG volumes in the first quarter of 2025 than previously expected, citing unplanned maintenance in Australia and adverse weather.

In a trading update published on Monday, London-based Shell said it expects integrated gas production of 910,000 to 950,000 barrels of oil equivalent. Though that was an improvement on the fourth quarter of last year, it was lower than the range flagged in the last quarterly report.

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