Spot market gas prices around the world have doubled over the last twelve months as reported inventories in all the major consuming regions have fallen to multi-year lows, signalling the refill season will be much tougher in 2025.
Esso Australia Resources, a subsidiary of ExxonMobil Australia, will invest nearly USD 200 million in the Kipper 1B Project to bring additional gas supply on line from the Gippsland Basin, the company said on Monday.
Shearwater GeoServices has been awarded a contract by ExxonMobil Guyana to conduct a deepwater 4D ocean bottom node (OBN) reservoir surveillance programme offshore Guyana, Shearwater announced on Monday.
Estimated resource volumes on the Norwegian continental shelf rose 36 million standard cubic meters of oil equivalent (scmoe) to 15.61 billion scmoe – before accounting for production – as of year-end 2024, Norway’s upstream regulator has reported.
In a statement posted on its website recently, OPEC said it “welcomes the decision approved … by the National Energy Council of the Federative Republic of Brazil (CNPE) that formally paves the way for the participation of Brazil as a Member of the Charter of Cooperation (CoC) between oil producing countries”.
Innovex International announced the signing of a strategic frame agreement with SLB OneSubsea for the supply of subsea wellhead systems.
Saipem and Subsea7 have announced a memorandum of understanding (MoU) has been reached for a likely mega-merger to join the two companies.
Black Gold Exploration Corp. (BGX) has commenced drilling on the Fritz 2-30 oil and gas well in Clay County, Ind. BGX recently acquired a 10% working interest in the well and an option to participate in any offset developmental wells in a 210-acre area of mutual interest from the operator, Adler Energy.
Pecan Energies aims to be one of West
Africa’s most efficient oil producers by
adhering to industry benchmarks for
energy intensity, particularly in ultradeepwater oil production.
African Export-Import Bank (Afreximbank) has unveiled plans to establish a $1 billion oil service financing facility in Guyana, which aims to enhance local participation in the country’s fast growing oil industry.