U.S. officials are pressing domestic oil producers to increase output as disruptions in the Strait of Hormuz tighten global supply and push crude prices higher.
Transocean has been awarded a $158 million contract for its Deepwater Asgard drillship to support a five-well campaign in the Eastern Mediterranean.
Assala Gabon has achieved first oil at the Grand N’Gongui (GNG) field, marking a key milestone in the development of onshore resources in Gabon.
ABL Group has signed a memorandum of understanding (MoU) with PetroSafe, Egypt’s Petroleum Safety and Environmental Services Company, to collaborate on technical services aimed at improving safety, integrity and performance across the country’s energy assets.
The Mexican Association of Hydrocarbons Companies (AMEXHI) has expressed support for the federal government’s gas strategy aimed at strengthening energy sovereignty, while emphasizing the need for improved investment conditions to advance oil and gas development.
The Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has reaffirmed Ghana’s commitment to strengthening bilateral relations with Pakistan following a diplomatic engagement with the country’s ambassador.
Vår Energi has submitted an amended Plan for Development and Operation (PDO) for the Goliat Gas Export (GGE) project in the Barents Sea, aiming to increase oil recovery and extend the field’s productive life.
Norway’s crude oil export earnings surged 67.9% year-on-year in March to a record 57.4 billion kroner ($6.1 billion), primarily driven by soaring global energy prices following the outbreak of the Iran war and the subsequent closure of the Strait of Hormuz. Oil prices averaged 1,014 kroner ($107.52) per barrel in March, the highest monthly average since September 2023.
Spain’s Repsol will return to Venezuela after it signed a new deal with the Venezuelan government, with plans to increase crude oil production in the country by 50% from current levels.
Japan will establish a USD 10-billion financing framework to help Asian countries secure energy resources and build oil stockpiles as tensions in the Middle East strain supply chains, Reuters reported on Wednesday.