With Colombia’s reserves of oil and natural gas falling, and President Gustavo Petro refusing to grant new exploration licenses, Ecopetrol is focused on contracts signed before the environmentalist leader took power in 2022. In February, the driller announced it had taken full ownership of the CPO-09 block in the nation’s oil-rich eastern plains, which helped boost reserves.
Under the agreement, Arafura intends to support the development of Tamboran’s Beetaloo Basin acreage by purchasing 18-25 terajoules per day (TJd) (18-26 MMcfd) of gas for up to 10 years, Tamboran said in a media release. Through its subsidiaries, Tamboran is the largest acreage holder and operator in the Beetaloo Subbasin, with approximately 1.9 million net prospective acres, according to Tamboran.
Russia accounted for 19 percent or 13.4 billion cubic meters (473.22 billion cubic feet) of EU gas imports in the fourth quarter (Q4), according to the European Commission’s quarterly gas market report. Russia’s share of gas imported into the 27-member bloc rose one percentage point from the prior three-month period and two percentage points against Q4 2023.
Russia accounted for 20 percent of gas imported by the EU via pipeline in the third quarter. Norway continued to be the EU’s top pipeline gas supplier with a share of 47 percent, followed by North Africa (16 percent). The United Kingdom was the EU’s fourth-biggest pipeline gas source accounting for 11 percent, while Azerbaijan came fifth with six percent.
SLB noted in the release that it will oversee the delivery of 18 ultra-deepwater wells using an integrated services approach and AI-enabled drilling capabilities to improve operational efficiency and well quality. It added that the full scope of the contract includes digital directional drilling services and hardware, logging while drilling (LWD), surface logging, cementing, drilling and completions fluids, completions, and wireline services.
The rise of AI-powered tools—especially those using large language models and machine learning—has created unprecedented demand for computing power. These complex models require massive amounts of electricity not just during training, but continuously during deployment (or inference) as well.
OneSource Professional Search describes itself on its website as an executive and technical search firm. Mount told Rigzone that the business focuses primarily on U.S. oil and gas jobs or companies that are based in the U.S. with international operations. Mount also highlighted to Rigzone that OneSource Professional Search was acquired by Boston-based Xenspire Group in September 2024.
The oil and gas industry paid a national average wage of $81,808 in 2024, TIPRO stated in its report. This national average grew by $1,767 year on year, according to the report, which showed that the national average stood at $80,041 in 2023, $76,027 in 2022, $70,413 in 2021, $70,558 in 2020, and $71,247 in 2019.
BP cut planned annual investment in renewable energy businesses by more than $5 billion, from its previous forecast, to between $1.5 billion and $2 billion per year. It now aims to grow oil and gas production to between 2.3 million and 2.5 million barrels of oil equivalent per day (boepd) in 2030. It pumped 2.36 million boepd in 2024.
In September, the Nigerian president attended the Forum on China-Africa Cooperation (FOCAC) in Beijing and carried out a state visit to China, and since then more than 200 Chinese companies have expressed interest in investing in Nigeria. It followed the signing of the Nigeria-China relationship agreement last year, with 74 of those companies specifically focused on the oil and gas industry.