MidOcean Energy will participate in Phase 2 of the LNG Canada project through its partnership with PETRONAS following a final investment decision (FID) by the project’s joint venture partners. Phase 2 will add two liquefaction trains at LNG Canada’s facility in Kitimat, British Columbia, doubling production capacity from 14 million tonnes per annum (MMtpa) […]
The U.S. ordered another release of oil from emergency reserves—and urged European nations to do likewise—as the Trump administration grapples with fuel prices that are surging less than two months before the midterm elections. The U.S. will offer up to 40 MMbbl from the Strategic Petroleum Reserve, according to a statement from the Department […]
SLB’s OneSubsea joint venture has been awarded a contract by ExxonMobil Moçambique, Limitada to supply subsea production systems for the first phase of the deepwater Rovuma LNG development offshore Mozambique. ExxonMobil awarded the contract on behalf of the Area 4 partners, which include ENH, CNPC, Eni, KOGAS and XRG. The scope covers subsea trees, manifolds, […]
Unity has launched an ultra-compact blowout preventer (BOP) valve designed to enable well intervention in space-constrained offshore environments where conventional BOP systems cannot be deployed. The new Unity Qb valve measures approximately one-third the width of conventional BOP systems and is rated to 10,000 psi. The technology is designed for wireline, slickline and coiled […]
Vitol has strengthened its presence in the Iraqi oil market by purchasing at least 25 million barrels of crude in September 2026, a move reflecting how major oil traders are capitalizing on supply disruptions in the Gulf region. The Swiss-based Dutch multinational energy and commodity trading company is leveraging its shipping and logistics capabilities to […]
The New Mexico State Land Office on Monday announced that it had finalized higher bonding requirements for oil and gas companies that lease state Trust lands. The rule goes into effect Monday, marking the end of a months-long process aimed at ensuring New Mexico taxpayers and the beneficiaries of state Trust lands do not bear […]
Venezuela’s energy sector is entering a period of significant commercial change, with a reworked hydrocarbons framework beginning to translate into new agreements with international energy companies. Venezuela is moving from regulatory reform toward implementation. In January 2026, the country enacted a reform of its Organic Hydrocarbons Law, introducing new contractual mechanisms for primary hydrocarbon activities […]
Saudi Arabia has completed repairs on its East-West pipeline, which had been shut down by a drone attack. The pipeline, which has served as a bypass route around the Strait of Hormuz since the U.S.-Iran war, is running again, raising the question of whether crude prices that have climbed above $100 a barrel will stabilize. […]
Yangarra Resources Ltd. has drilled 17 Belly River wells at its Chambers development in Alberta over the past two years, as the company continues to expand its drilling inventory and improve well performance. Yangarra has invested $58 million in drilling, completions and related land acquisitions for the Chambers Belly River program. By the end […]