Author: intent

EU Issues Obligatory CO2 Storage Capacities for Top Oil Producers

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Kurt Vandenberghe, the Commission’s director-general for climate action, commented, “Having extracted hydrocarbons and contributing to greenhouse gas emissions, it [the oil and gas industry] will now contribute to storing CO2 and help mitigate climate change. By combining their industrial know-how with faster permitting processes and robust financial support – including from the ETS-resourced Innovation Fund – we can make substantial progress in advancing industrial decarbonization and modernization in Europe”.

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Russia Adds Military Escorts to Oil Tanker Fleet in Gulf of Finland

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Due to European sanctions and the G7 price cap, Russia is using what the media likes to call a shadow fleet of tankers, often aging, and insured by parties outside the Western world. These vessels “make use of flags of convenience and intricate ownership and management structures while employing a variety of tactics to conceal the origins of its cargo, including ship-to-ship transfers; automatic identification system blackouts; falsified positions; transmission of false data; and other deceptive or even illegal techniques.”

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Aramco Considers Asset Sales to Raise Cash

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Aramco is the biggest contributor to Saudi Arabia’s budget revenues and a vital source of funding for government projects. Because the Saudi government is quite ambitious with such projects, the budget breakeven price of oil has gone up to over $90 per barrel—even though Aramco has some of the lowest production costs in the world at its conventional oilfie.ds

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Oman’s OTTCO hits 17 million tonnes export from Ras Markaz

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Operated by OTTCO, Ras Markaz Terminal supports the Duqm Refinery via an 80-kilometre crude oil pipeline and features eight tanks, floating platforms and a 7-kilometre subsea pipeline, as well as high-speed loading systems. The 40-square-kilometre site is capable of storing up to 200 million barrels of oil and offers international storage options outside the Strait of Hormuz.

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Tullow restarts drilling in Ghana’s Jubilee Field in major boost for West African oil sector

Oil & Gas‚ Oil and Gas Industry | intent | May 23, 2025 | Comment off

“This is an exciting moment for us. The restart of drilling reflects another milestone in our journey in Ghana and shows our confidence in the country’s resource base,” Jean-Médard Madama, Managing Director of Tullow Ghana said in a statement. “Even as the field matures, we are confident in its capacity to deliver value—for our shareholders, partners, and the people of Ghana.”

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Greater Tokyo CCS Partners, JOGMEC Agree to Continue Study Works

Oil & Gas‚ Oil and Gas Industry | intent | May 23, 2025 | Comment off

“In connection with this, JOGMEC commissioned a survey on the implementation of advanced CCS projects in 2023, and engineering and design work for advanced CCS projects in 2024, both of which were jointly undertaken by the parties”, INPEX said in an online statement. “Through these commissioned projects, the parties conducted feasibility studies on CO2 separation, recovery, transportation and storage in the initial phase, and basic engineering and design for the entire CCS value chain and appraisal of CO2 storage potential in the subsequent phase.

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DOI Says New USGS Study Finds ‘Significant’ Undiscovered Oil, Gas Resources

Oil & Gas‚ Oil and Gas Industry | intent | May 23, 2025 | Comment off

USGS oil and gas assessments began 50 years ago following an oil embargo against the U.S. that signaled a need to understand the occurrence, distribution, and potential volumes of undiscovered resources, the DOI said in its statement. It added that USGS energy resource assessments provide information to policy makers on resource potential in areas of the U.S. and the world.

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Aker BP Makes Oil Discovery Near Skarv Field

Oil & Gas‚ Oil and Gas Industry | intent | May 23, 2025 | Comment off

Well 6507/5-13 S aimed to prove petroleum in reservoir rocks in the Fangst and Båt groups. “The well encountered a 14-meter oil column in the Garn Formation in 43 meters of sandstone with moderate reservoir quality”, the upstream regulator said in a press release. “The oil/water contact was encountered at 3702 meters below sea level. The other formations in the Fangst and Båt groups were aquiferous.

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