McDermott has completed engineering, procurement, construction, installation, and commissioning (EPCIC) activities in the Gulf of Mexico for Shell, enabling oil production at its Whale development, the company said on Thursday.
Equinor and partners Okea and Pandion Energy have discovered gas and condensate in the Mistral Sør exploration well in the Norwegian Sea, Equinor said on Wednesday.
Chinese energy imports broadly fell at the start of 2025, after last year’s record shipments of coal and gas created an overhang of supply and demand for oil continued to ease.
Crude oil imports fell 5 percent on-year in January and February to 83.85 million tons as buyers had to scout for alternative supplies after the US tightened sanctions on Russian and Iranian cargoes.
The UK government is drafting a new tax regime for oil and gas companies to replace a controversial windfall levy after 2030, with an aim to hit companies only when prices are unusually high.
Ecuador’s President Daniel Noboa has ordered a consortium seeking to take over the nation’s top oil asset to pay an entry fee of $1.5 billion by March 11, moving up the deadline by more than three weeks.
Tanzania aims to start a licensing round for dozens of oil and gas exploration blocks in May, the first in more than a decade for the nation with an estimated 57 trillion cubic feet of natural gas reserves.
In a courtesy meeting with the newly appointed Minister of Energy and Green Transition, Dr John A. Jinapor, AETC Founder and President, Emelia Akumah, along with Board member Tony Burkson, engaged in discussions with the Minister, his Deputy Richard Gyan-Mensah( Designate), and the Chief Director Mrs Wilhelmina Asamoah.
The Venezuelan JV “was structured through an indirect 40 percent equity participation in Vencupet SA, facilitated via GoldPillar International SPC Ltd. (‘GP’), a British Virgin Islands-based fund that holds 40 percent of Vencupet”, NSE said in an online statement. Petroleos de Venezuela SA (PDVSA) holds 60 percent of Vencupet.
China’s diesel demand likely peaked in 2019, with gasoline consumption cresting in 2023, Ma Yongsheng, chairman of the nation’s top refiner Sinopec Group, said Wednesday. Still, the nation’s overall oil consumption hasn’t peaked yet, he said, and that’s down to rising demand for chemicals products.
Trump delivered on his threat to hit Canada and Mexico with sweeping import levies and doubled an existing charge on China, sparking swift reprisals that threaten to reduce global economic growth and curtail energy demand. The moves come a day after OPEC+ said it would increase output after repeated delays, a decision that surprised a market already weighed down by expectations for a surplus later this year.