Author: intent

South Africa Launches Oil Giant to Revive Energy Sector

Oil & Gas‚ Oil and Gas Industry‚ Uncategorized | intent | May 26, 2025 | Comment off

South Africa has officially launched the South African National Petroleum Company (SANPC), a new state-owned oil enterprise designed to consolidate and energize the country’s long-stalled hydrocarbons sector. Formed from the merger of PetroSA, iGas, and the Strategic Fuel Fund, SANPC will operate under the Central Energy Fund and is already integrating staff and assets to streamline operations. The aim? Reducing oil imports, bolstering energy security, and tapping into over R95 billion in potential investment.

Petronas Gets Two New PSCs offshore Indonesia

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

“The signing of the Serpang and Binaiya blocks represents a pivotal step forward in PETRONAS’ enduring commitment to fortify our oil portfolio and regional partnership, in meeting the region’s energy demand”, Petronas said. “The Serpang block presents a crucial avenue to bolster our presence in East Java – an established, high-potential basin endowed with robust infrastructure enabling timely and efficient monetization of resources. Simultaneously, the Binaiya block opens a new frontier for PETRONAS to anchor a key hub in Eastern Indonesia, alongside our Bobara block”.

Aramco Debuts RE Storage System for Gas Operations

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Ali A. Al-Meshari, Aramco senior vice president for technology oversight and coordination, commented, “The pioneering flow battery system spearheaded by Aramco’s researchers represents a breakthrough for the oil and gas industry. Aramco already powers a large number of remote gas wells with solar panels connected to lead-acid battery systems, but our ground-breaking flow battery technology offers a flexible solution for diverse renewable energy storage requirements, making it an attractive option for a variety of industrial applications”.

TotalEnergies Inaugurates Europe’s Largest Solar Park

Oil & Gas‚ Oil and Gas Industry‚ Uncategorized | intent | May 26, 2025 | Comment off

TotalEnergies said it is developing a competitive portfolio that integrates renewable sources with flexible assets to provide clean, reliable power to its customers. By the end of March 2025, TotalEnergies said it expects to have 28 GW of installed gross renewable electricity generation capacity, aiming to achieve 35 GW by the end of 2025 and exceed 100 TWh of net electricity production by 2030.

Japan Touts Ships Expertise, LNG Project as Tariff Talks Key

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Japan will tout its prowess in building ice-breakers, a growing area of need as security concerns in the Arctic region mount, while also offering to help repair US battleships that patrol the Asia-Pacific, Prime Minister Shigeru Ishiba said Sunday, as his hand-picked trade negotiator Ryosei Akazawa returned to Tokyo following a third-round of discussions with US counterparts in Washington.

EU Issues Obligatory CO2 Storage Capacities for Top Oil Producers

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Kurt Vandenberghe, the Commission’s director-general for climate action, commented, “Having extracted hydrocarbons and contributing to greenhouse gas emissions, it [the oil and gas industry] will now contribute to storing CO2 and help mitigate climate change. By combining their industrial know-how with faster permitting processes and robust financial support – including from the ETS-resourced Innovation Fund – we can make substantial progress in advancing industrial decarbonization and modernization in Europe”.

Russia Adds Military Escorts to Oil Tanker Fleet in Gulf of Finland

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Due to European sanctions and the G7 price cap, Russia is using what the media likes to call a shadow fleet of tankers, often aging, and insured by parties outside the Western world. These vessels “make use of flags of convenience and intricate ownership and management structures while employing a variety of tactics to conceal the origins of its cargo, including ship-to-ship transfers; automatic identification system blackouts; falsified positions; transmission of false data; and other deceptive or even illegal techniques.”

Aramco Considers Asset Sales to Raise Cash

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Aramco is the biggest contributor to Saudi Arabia’s budget revenues and a vital source of funding for government projects. Because the Saudi government is quite ambitious with such projects, the budget breakeven price of oil has gone up to over $90 per barrel—even though Aramco has some of the lowest production costs in the world at its conventional oilfie.ds

Oman’s OTTCO hits 17 million tonnes export from Ras Markaz

Oil & Gas‚ Oil and Gas Industry | intent | May 26, 2025 | Comment off

Operated by OTTCO, Ras Markaz Terminal supports the Duqm Refinery via an 80-kilometre crude oil pipeline and features eight tanks, floating platforms and a 7-kilometre subsea pipeline, as well as high-speed loading systems. The 40-square-kilometre site is capable of storing up to 200 million barrels of oil and offers international storage options outside the Strait of Hormuz.

Tullow restarts drilling in Ghana’s Jubilee Field in major boost for West African oil sector

Oil & Gas‚ Oil and Gas Industry | intent | May 23, 2025 | Comment off

“This is an exciting moment for us. The restart of drilling reflects another milestone in our journey in Ghana and shows our confidence in the country’s resource base,” Jean-Médard Madama, Managing Director of Tullow Ghana said in a statement. “Even as the field matures, we are confident in its capacity to deliver value—for our shareholders, partners, and the people of Ghana.”

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