McDermott has been awarded a major engineering, procurement, construction and installation (EPCI) contract by ADNOC for the Nasr-115 Expansion Project at the Al Nasr offshore field in the United Arab Emirates. The project forms part of ADNOC’s broader Nasr Phase II full-field development, which aims to raise production capacity at the field to 115,000 bpd by 2027. The […]
Drilling operations at the Falcão-1 well in Block 10, offshore São Tomé and Príncipe, have been completed safely, the National Petroleum Agency of São Tomé and Príncipe and the Shell/Petrobras Consortium have announced. Although no commercially viable hydrocarbons were discovered in the well, the partners said the operation generated valuable data on the basin’s key […]
Trading house Trafigura sold a cargo of Venezuelan oil to a Spanish refiner, while rival Vitol prepared to export Venezuelan fuel oil as shipments accelerate from the OPEC nation under a U.S.-backed $2 billion oil supply deal following the capture of President Nicolas Maduro, oil industry sources said on Thursday.
Santos has reported a strong fourth quarter, increasing production to 22.3 million barrels of oil equivalent (boe), a 5 per cent rise from the previous quarter. The company’s full-year output reached 87.7 million boe, despite weather-related challenges in the Cooper Basin. Santos is an Australian oil and gas company.
Europe is set to receive some of its first shipments of Venezuelan oil in nearly a year after traders rolled out offers worldwide to sell cargoes at the behest of the Trump administration.
Azerbaijani President Ilham Aliyev met Russell Hardy, Chief Executive Officer of Vitol, on January 21 on the sidelines of the World Economic Forum in Davos, with discussions focusing on energy cooperation and supplies to Europe.
Azerbaijan’s state oil company SOCAR has signed an agreement with Italian Eni S.p.A. to acquire a 10% participating interest in the development project of the Baleine oil and gas field located offshore Côte d’Ivoire, Trend reports via SOCAR.
The world’s oil demand growth is set to rise by 930,000 barrels per day (bpd) in 2026, thanks to lower oil prices and a normalization of economies after the 2025 tariff chaos, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate by 70,000 bpd from last month
The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 3.04 million barrels in the week ending January 16. Crude oil inventories increased by 5.27 million barrels in the week prior.
Turkey’s state energy company is in talks with Chevron Corp to jointly explore for oil and gas, according to a Turkish official familiar with the discussions.