The European Union is preparing to impose up to €100 billion ($113 billion) in tariffs on US goods if trade talks fail, according to a new report by Bloomberg this morning.
The draft list of retaliatory measures will be circulated to member states as early as Wednesday, with a one-month consultation period before finalization.
Crude oil inventories in the United States saw a decrease of 2 million barrels during the week ending May 2, according to new data from the U.S. Energy Information Administration released on Wednesday.
Russia saw its budget revenues from oil and gas drop by 12% in April from a year earlier, due to the oil price rout last month, the Russian finance ministry said on Wednesday.
Oil and gas revenues for the Kremlin dipped to $13.45 billion (1.09 trillion Russian rubles) in April, from $15.2 billion (1.23 trillion rubles) in the same month of last year.
For the first four months of the year, oil and gas revenues fell by 10.3% to $46 billion (3.73 trillion rubles), according to the ministry’s data.
US ship classification society ABS has issued an approval in principle for SBM Offshore’s concept design of a low-emissions FPSO, SBM Offshore announced on Thursday.
Dräger Marine & Offshore (DMO), a global leader in the field of safety technology, has secured a long-term deal with a major North Sea oil and gas operator.
Due to run for five-years, with a further two one-year extension options, the extension of the existing supply contract means more than 10 UK North Sea assets will continue to benefit from Dräger’s industry leading portable gas detection and breathing apparatus systems.
Zephyr Energy has announced successful initial results from the production test on the State 36-2 LNW-CC-R well at the company’s flagship project in the Paradox basin, Utah.
Permian Resources has reached an agreement to buy core assets in the Delaware basin from Apache parent company APA Corp. The deal, valued at $608 million, includes 13,320 net acres, 8,700 net royalty acres and 12,000 Boe/d directly offset Permian Resources’ core New Mexico operating areas. The transaction is expected to close by the end of the second quarter of 2025.
Although the deepwater portion of the offshore oil and gas industry may be traversing a few rough spots at present, the general outlook for this sector over the next few years remains solidly positive. That’s the theme of comments made by Scott Livingston (Fig. 1), NOV’s President of Energy Products and Services, during an Executive Dialogue session during Day 2 at the Offshore Technology Conference in Houston.
Valaris has secured a five-well contract for its drillship VALARIS DS-15 in West Africa, with work scheduled to begin in Q3 2026, the company said on Monday.
The investment, expected within the next two years, will focus on reviving production in the Usan field and is in addition to funding earmarked for planned developments in Owowo and Erha, the Nigerian Upstream Petroleum Regulatory Commission said in a statement Tuesday, citing a visit by Shane Harris, Exxon’s managing director in Nigeria.