Kenya has renewed a contract to purchase fuel on credit from three state-owned Gulf firms by 24 months and renegotiated lower margins.
Saudi Aramco, Emirates National Oil Co. and Abu Dhabi National Oil Co. will continue to supply gasoline, diesel, kerosene and jet fuel under a 180-day credit plan, Energy and Petroleum Regulatory Authority Director-General Daniel Kiptoo said in an interview in the capital, Nairobi.
It’s official: President Donald Trump has announced sweeping tariffs on friends and foes alike, with the minimum rate at 10% and higher versions of between 20% and as much as 49%. Oil prices took a dive after the announcement, predictions of a grim economic future multiplied, and countries around the world vowed to retaliate. It’s a game of tariffs with a twist: energy imports were exempted from the tariffs.
These are big days for oilfield services (OFS) providers, and the awarding of a major drilling contract to U.S.-based giant SLB (NYSE:SLB) for an ultra-deepwater Trion project offshore Mexico is more than just another deal. It’s where the deepest offshore drilling becomes the purview of artificial intelligence.
The contract, awarded by Australia-based Woodside Energy Group (NYSE:WDE), Trion’s operator, will see SLB employ its artificial intelligence-enabled drilling capabilities to drill 18 ultra-deepwater wells with improved operational efficiency and well quality.
China’s biggest state-held energy firms are following the demand trends in the world’s top crude oil and natural gas importer.
After decades of growth, Chinese demand for transport fuels is peaking as electric vehicles and LNG-powered trucks are seizing market share from gasoline and diesel. But natural gas demand is only going up, and it’s expected to continue growing for decades.
Japan’s Terra Drone has signed an MoU with Saudi Aramco to develop innovative drone, robotics and AI-driven solutions for the oil and gas sector, the company said on Thursday.
The partnership aims to enhance safety and operational efficiency while supporting Saudi Arabia’s localisation efforts. The MoU establishes a framework for collaboration in research and development, technology piloting, and workforce training, aligning with the country’s broader economic goals.
Global infrastructure investment company Brookfield Infrastructure Partners and its institutional partners have agreed to buy all assets of Colonial Enterprises for approximately USD 9 billion, Brookfield announced on Thursday.
OPEC+ agreed to make a larger than expected oil supply hike in May, adding the equivalent of three monthly tranches from its previous plan to revive output.
The group led by Saudi Arabia and Russia will add 411,000 barrels a day to the market next month, according to a statement posted on the OPEC website. The decision followed a conference call between ministers on Thursday that was focused on member countries that had been consistently exceeding their quotas, delegates said, asking not to be identified as the talks were private.
Aker BP ASA has extended its alliance agreement with SLB (Schlumberger Limited) and Stimwell Services Ltd. for another five years. The alliance formed in 2019 has supported Aker BP’s operated assets in meeting production targets.
Aker BP said in a media release the alliance will work on further accelerating and boosting oil production.
Kongsberg Maritime has secured a contract to supply an integrated package of equipment for a new Offshore Support Vessel (OSV) being built for ship owner DOF.
The new 110-meter OSV, with a capacity to accommodate 164 people, is designed by MMC Ship Design and constructed at CRIST shipyard in Gdynia, Poland. The vessel will operate offshore Newfoundland, known for its harsh environmental conditions.
bp Trinidad and Tobago (bpTT) today confirms its Cypre development has safely delivered its first gas.
bp’s Juniper rig, offshore Trinidad
Cypre is one of bp’s 10 major projects expected to start up worldwide between 2025 and 2027, announced as part of bp’s reset strategy to grow the upstream. Production from Cypre will make a significant contribution towards the 250,000 barrels of oil equivalent per day (boed) combined peak net production expected from these 10 projects.