Crude oil prices were set to end the week lower than they started it as Israel and Iran stopped bombing each other, alleviating fears of a supply disruption in the Middle East.
Equinor and Shell have unveiled Adura as the name of their new incorporated joint venture, set to become the UK North Sea’s largest independent oil and gas producer, the companies said on Thursday.
Equinor and its Fram partners will invest more than $2 billion (NOK 21 billion) in a new subsea development. The plan for development and operation was today submitted to the Minister of Energy, Terje Aasland.
The deployment, completed earlier this year, integrates the second-generation sensors directly into the rig’s drilling control network, giving crews instant feedback on the status of fingerboard latches inside the derrick and reducing the risk of dropped-objects (DROPS) incidents.
U.S. shale oil producers are unlikely to heed President Donald Trump’s latest call to “Drill, Baby, Drill” as they prioritize hedging over ramping up production in response to U.S. military strikes on Iran.
Tokyo Gas Co. is in discussions with multiple U.S. liquefied natural gas suppliers to secure a long-term purchase agreement, as rising energy demand leaves Japan increasingly dependent on the fuel source.
Ashtead Technology has signed a collaboration agreement with Ocean Science Consulting Ltd. (OSC) to deliver combined environmental monitoring, mitigation and compliance services for offshore wind and oil-and-gas operators.
The Bureau of Ocean Energy Management (BOEM) has published a Proposed Notice of Sale (PNOS) for Lease Sale 262, the first of three offshore auctions in the Gulf of America under the 2024–29 Outer Continental Shelf Leasing Program.
Rising Canadian oil production and continued demand for more shipping capacity at the key U.S. refining hubs have prompted Canada’s pipeline giant Enbridge to test interest from potential shippers for a new pipeline in Illinois linked to the Mainline system.
Oil prices dropped dramatically after a surprisingly speedy ceasefire was agreed between Israel and Iran, although the peace remains fragile.