Ukrainian drones have hit a Moscow oil refinery for the second time this week while Russia fired missiles at Kyiv, as President Volodymyr Zelenskyy seeks support from the United States and Europe to reach a deal to end the war. Russia’s Defence Ministry said on Thursday that its air defences shot down 555 Ukrainian drones […]
Germany may be getting cold feet about ending its oil reserve waiver. Berlin said this week it is considering extending a temporary reduction in national oil stockpiling requirements beyond the current August 31 deadline, even as markets celebrate the U.S.-Iran agreement and the expected reopening of the Strait of Hormuz. Officially, Germany insists there are […]
Tankers carrying a total of 80 million barrels of crude are preparing to move through the Strait of Hormuz after the signing of the preliminary deal between the United States and Iran, Bloomberg reported today, citing data from Vortexa. The crude is on 40 tankers, of which 21 will be heading for Asia, with five going to […]
Oil prices began to climb once again in early Asian trade on Friday due to uncertainty over the outcome of peace talks between the United States and Iran after Switzerland confirmed the talks had been postponed. At the time of writing, Brent crude had climbed back above $80 per barrel while West Texas Intermediate had risen to $76.28. Reuters reported on […]
Shipbuilder Hanwha Ocean has signed an MoU with Canadian infrastructure developer Kanata Clean to develop an FLNG export project in Prince Rupert, British Columbia, Argus reported on Wednesday. The proposed project is expected to have a capacity of up to 12 million tonnes per year (tpy) and will come at an estimated cost of USD […]
Bilfinger and Schneider Electric have successfully deployed an autonomous offshore buoy in the North Sea, demonstrating a new approach to powering and controlling remote subsea assets without the need for permanent offshore personnel or traditional umbilical connections. The Normally Unmanned Installation (NUI) buoy, developed for Buoyant Production Technologies (BPT), a subsidiary of Crondall Energy, completed 1,000 hours of […]
The Railroad Commission of Texas (RRC) is expanding its Delivering Oil and Gas Efficiently (DOGE) Task Force initiative as the agency moves forward with efforts to improve operational efficiency, modernize regulatory processes and enhance service for the state’s oil and gas industry. Texas Railroad Commissioner Wayne Christian announced the next phase of the initiative following a year-long review […]
DeepOcean has secured a contract from bp to support decommissioning and recycling activities at the Foinaven field, located West of Shetland on the UK Continental Shelf (UKCS). Under the agreement, DeepOcean will remove 10 flexible process risers, three dynamic subsea umbilicals and one static umbilical from the former Foinaven FPSO location. The scope also includes recovery of buoyancy modules, […]
Nigeria’s national oil company, NNPC Limited, has renewed its partnership with TotalEnergies for another two years to expand the use of advanced drone-based technology aimed at detecting, measuring, and reducing methane emissions across its upstream operations as part of its decarbonisation and gas-flare reduction commitments. The agreement, aimed at helping NNPC Ltd meet its gas-flare […]
Iraq is preparing to boost oil exports from its southern ports with a formal deal to open the Strait of Hormuz scheduled to be signed on Friday.