Under the agreement, Wood will provide maintenance services and shutdown support to optimize the operational performance of the Gippsland Basin Joint Venture’s offshore assets in the Bass Strait and the Longford and Long Island Point facilities, Wood said in a media release. The Gippsland Basin Joint Venture is a 50-50 joint venture between operator Esso Australia Resources Pty. Ltd. and Woodside Energy Pty. Ltd., Wood said.
The 3,300-km (2,050 miles) hydrogen pipeline, named SouthH2 Corridor, is planned to ship green hydrogen from the African coast to Italy and then further north to Austria and Germany.
Portugal will increase purchases of liquefied natural gas (LNG) from the United States and Nigeria, as it aims to end imports of Russian gas, Environment Minister Maria da Graca Carvalho said on Tuesday. According to data from electricity and gas grids operator REN, Portugal imported 49,141 gigawatt-hours (GWh) of natural gas in 2024, of which around 96% was LNG.
Last month, a survey by law firm Haynes Boone LLC revealed that banks are gearing up for oil prices to fall below $60 a barrel by the middle of President-elect Donald Trump’s new term. Trump says he’ll push shale producers to ramp up output.
Citing several unnamed sources the report said Pilot Co had let almost all of its employees go and refocus on its original business in the United States. Warren Buffett’s Berkshire Hathaway acquired Pilot Co. back in 2017 and it ventured into the world of international oil trading after that.
The LNG project in the restive Cabo Delgado province has been on hold since 2021 when an Islamist insurgency threatened the site. Dozens of civilians were killed in the attacks in a nearby town, forcing Total to declare a force majeure and withdraw all staff from the construction site.
Although the U.S. dropped four rigs week on week, Canada added 13 during the same period, taking the total North America rig count up to 809, comprising 580 rigs from the U.S. and 229 rigs from Canada, the count outlined.
A cold blast gripping the US South threatens to bring record-breaking snowfall to New Orleans and Houston and a deep freeze that endangers oil and natural gas output and electrical grids.
France’s low-carbon electricity output surged to more than 95 percent of annual power production for the first time in 2024, as rising nuclear and hydro generation squeezed the use of fossil fuels.
Global energy technology company SLB has posted a six percent rise in net income for 2024, despite a drop for the fourth quarter. The company said in its report that its net income for the year landed at $4.46 billion. For the fourth quarter, the company’s net income was at $1.1 billion, eight percent below Q3 and two percent below the corresponding 2023 quarter.