Freight rates for Russian Urals crude from Baltic ports to India have dipped again in July, falling to $5.0–$5.3 million per Aframax shipment—down from $5.5–$5.7 million in June—as more tankers become available.
Expro has been awarded a major three-year contract by Woodside Energy in support of the Trion deepwater oil and gas development offshore Mexico.
Falcon Oil & Gas Ltd. has completed successful flow-rate tests and commenced its 2025 drilling campaign in Australia’s Beetaloo sub-basin, the company announced Monday.
Oil fell as U.S. President Donald Trump reignited his global trade war, while his latest plan to pressure Russia into a ceasefire with Ukraine didn’t include new measures aimed directly at hindering Moscow’s energy exports.
Tullow Oil Plc and Kenya’s Gulf Energy Ltd. have secured an extension to submit a development plan for fields in Kenya, a crucial step to completing a sale of the assets.
The agreement extends the licence to 2037, supports the further development of the block’s remaining resources and prolongs the production and design life of the Kizomba A, Kizomba B, Mondo and Saxi-Batuque FPSOs.
Azule Energy, a joint venture owned equally by bp Plc and Eni SpA, have announced a major gas discovery at its Gajajeira-01 exploration well, located offshore in the Lower Congo Basin, Republic of Angola.
Since the Russian invasion of Ukraine in February 2022, the European Union has been working to decrease its dependence on Russian energy. The EU responded to Russia’s invasion by introducing sanctions on a range of energy products, including oil and gas, which it has gradually strengthened over the last three years as the region has reduced its reliance on Russian energy.
Oil prices are set to end the week higher after geopolitical risk climbed and Trump delayed tariff announcements.
The total number of active drilling rigs for oil and gas in the United States slipped again this week, according to new data that Baker Hughes published on Friday, following a 8-rig decrease in the week prior.