Based on end-2024 financial results, the merged company will have approximately EUR 21 billion in revenues and more than EUR 2 billion in EBITDA, and will command a backlog of around EUR 43 billion as of the end of Q1 2025. Annual free cash flow is expected to exceed EUR 800 million.
Aberdeenshire headquartered multi-discipline construction and maintenance specialist, AquaTerra Group, has announced the award of two separate contracts with bp and Ithaca Energy to support a number of their North Sea assets.
Full details of the decision were not immediately clear. The move came around the same time Washington and Caracas brokered an agreement that saw the release of 10 Americans detained in Venezuela, while 250 Venezuelans who were imprisoned in El Salvador were returned to their home country.
Shares of TechnipFMC PLC, one of the world’s biggest makers of offshore oil gear, surged to the highest in a decade on signs of a robust outlook that underscores the industry’s optimism over production at sea.
The Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company Limited (BOST) have signed a Memorandum of Understanding (MoU) to enhance technical and commercial collaboration.
“The new refinery in Nigeria and some issues in securing domestic supplies played a role for those unique flows earlier this year. But going forward, with the refinery now aiming to secure domestic flows, and probably looking at other crude grades, it is difficult to forecast if the volume flowing from the U.S. to Nigeria will persist,” agreed Giovanni Staunovo, an analyst at UBS.
On Wednesday, majority state-owned Equinor ASA said its Norwegian equity gas and liquids production in the second quarter averaged 704,000 barrels of oil equivalent a day (boed) and 655,000 boed respectively. “New production from the Johan Castberg field reaching plateau and Halten East contributed. Together, this offset natural decline, impact from the turnaround at Hammerfest LNG and maintenance at the Kollsnes processing plant”, Equinor said.
Carnarvon said the investment gives it a stake in Strike’s “extensive and high-quality gas portfolio of production, development and exploration assets which requires access to capital to drive growth”. The investment will also give Carnarvon exposure to Western Australia’s domestic gas and electricity markets “at a time when gas and energy demand is increasing,” the company said.
In Block 32, TotalEnergies, with a 30 percent operating ownership, said 2024 it would continue drilling development wells through the third quarter of 2025 including three infill wells of Kari Phase 1. It said it was assessing potential additional developments in discoveries in the central and northern areas of the block. Block 32 is already in production through FPSOs Kaombo Norte and Kaombo Sul.
This is taking place ahead of the next round of trade talks between the two countries, to take place in Sweden next week. U.S. Treasury Secretary described current relations as being “in a good place.” Chinese officials, for their part, have signaled a readiness on the part of the country’s government to reach a mutually beneficial deal. An official statement said that the Chinese side hoped for an atmosphere of “mutual respect, peaceful coexistence and win-win cooperation,” at the talks.