Author: intent

Tariffs and Turmoil Undermine Trump’s Oil and Gas Promises

When U.S. President Donald Trump came into office in January, he promised to back greater oil and gas production, doubling down on his “drill, baby, drill” catch phrase. He rapidly introduced executive orders aimed at encouraging new oil and gas exploration across the country while reining in the renewable energy industry. However, since these early promises, Trump appears to be increasingly alienating the oil and gas industry as companies battle low oil prices, the uncertainty of a trade war, and several other challenges.

Norway Takes Drone Inspections of Offshore Oil Platform to New Level

A major Norwegian oil field is taking the industry’s use of drones for safety inspections to a new level, with a permanently installed aircraft that’s operated remotely from the shore.

From a control room in Norway’s oil capital of Stavanger, pilots are performing drone inspections of the Edvard Grieg platform some 180 kilometers out at sea. The technology is a step toward fully autonomous inspections, requiring fewer workers to be sent offshore, according to its operator Aker Solutions ASA.

TotalEnergies Exits Bonga Field in Nigeria

TotalEnergies SE has signed a deal to sell its 12.5 percent stake in Nigeria’s OML118 production sharing contract, which contains the producing Bonga field, to Shell PLC for $510 million.

The French company, through subsidiary TotalEnergies EP Nigeria Ltd., derived 11,000 barrels of oil equivalent a day (boed) from its share of production in the block, mainly oil, in 2024.

OPEC+ Unwinding Cuts Leaves Market Miraculously Balanced

The eight OPEC+ nations that contributed to voluntary production cuts are set to meet on Friday to discuss production strategy for July. Commodity strategists at Standard Chartered have predicted that we are likely to see more of the same, with the group adding another 411 thousand barrels per day to July targets and cumulative unwinding now clocking in at 1.4 mb/d.