The U.S.-EU trade deal calls for the European Union buying $250 billion worth of American energy every year over the next three years. While additional U.S. energy supply would further help the bloc on its path to ditch Russian energy imports within a couple of years, the volumes needed to meet the goal in the trade deal are so high that they are unrealistic, according to analysts.
KBR will deliver FEED and related services aimed at optimising operational efficiency in the field. The work is part of KOC’s wider strategy to reinforce Kuwait’s energy security and invest towards long-term, sustained oil production.
Floating liquefied natural gas (FLNG) terminals are gaining momentum on the global LNG market, with capacity expected to triple by 2030 according to research from Rystad Energy. Once hindered by technical and operational challenges, FLNG projects are now achieving utilization rates comparable to onshore terminals. With LNG demand rising alongside the growing viability of smaller gas fields, FLNG is emerging as a faster, more flexible and cost-effective solution capable of adapting to shifting market dynamics while unlocking previously stranded reserves.
Baker Hughes announced today a definitive agreement to acquire Chart Industries in a deal valued at a total of $13.6 billion. Notably, the acquisition will strengthen Baker Hughes’ presence in the LNG and data center sectors.
Portugal’s Galp Energia has begun receiving offers for its massive Mopane oil discovery off Namibia’s coast, signaling that one of Africa’s most promising new hydrocarbon frontiers could be edging closer to commercial production. The company told investors earlier this month it’s in advanced talks with potential buyers and expects to announce a sale later this year. Galp controls an 80% stake in Mopane and, according to Bloomberg, is preparing for a development that could involve two floating production storage and offloading (FPSO) units, each pumping around 120,000 barrels a day.
Ghana is gearing up to host the highly anticipated Africa Oil Week (AOW): Investing in African Energy 2025 summit, an event set to redefine the energy future of the country and the broader West African region.
This was captured in the latest Petroleum Investment Report.
These are funds that Ghana has invested from crude oil export revenue, taxes paid by firms operating in Ghana’s oil area, and rental charges to the state since 2010.
OPEC+ stuck to the script at Monday’s Joint Ministerial Monitoring Committee (JMMC) meeting, offering no changes to current output policy and little surprise for market watchers. The virtual meeting—its 61st—reviewed production data from May and June and confirmed what most already suspected: while the group remains on track with its broad plans, not every member is keeping pace.
We are still in the early innings of the ongoing earnings season, with only a third of S&P 500 companies having returned their second quarter scorecards. According to FactSet, blended earnings growth rate for the S&P 500 is clocking in at 6.4% Y/Y, the lowest clip in six quarters.
The European Union’s promise to buy $750 billion of American energy imports over three years was pivotal to securing a trade deal with President Donald Trump, but it’s a pledge it will struggle to keep.