Despite a drop in oil price of $10 per barrel year-on-year, the results and cash flow from business segments should be flat to 5% higher thanks to accretive hydrocarbon production growth and improved results of the downstream businesses, the French energy giant said in a trading update on Wednesday.
Norway’s DOF Group has secured long-term charters valued at around USD 200 million from Petrobras for two vessels to be deployed in Brazil, DOF Group announced on Thursday.
Russia is one of the top-three oil exporters in the world, meaning any pressure on its exports should be applied with care to avoid a price shock. Indeed, President Trump’s statement about PM Modi pushed oil benchmarks higher earlier today because of the supply tightening effect such a move by India would have.
Offshore services provider DeepOcean has expanded its operational capabilities across the offshore renewables and oil and gas sectors through a new time charter agreement for the multipurpose support vessel (MPSV) Glomar Supporter.
Ghana’s oil production has been on a steady decline since peaking in 2019, raising serious concerns about the country’s future petroleum revenue and energy sustainability, according to the Head of the Public Interest and Accountability Committee (PIAC) Secretariat, Isaac Dwamena.
HI also supports Shell’s plan announced on Capital Market Day 2025 to start up upstream and integrated gas projects with a total capacity of one million barrels of oil equivalent per day between 2025 and 2030. It also contributes to the company’s target to grow top line production across its upstream and integrated gas business by one percent per year through the end of the decade, Shell said.
The Petroleum Ministry laid out the plan this week, revealing that 101 wells are already slated for 2026, spread across Egypt’s main producing regions. The announcement didn’t specify where all that capital is coming from—never a minor detail—but the country has been cozying up to the majors again, signing new exploration deals with BP (BP.L) and Eni (ENI.MI) to scour the Mediterranean for the next Zohr-sized win.
The Rizhao Shihua Crude Oil Terminal, which was blacklisted by Washington last week over its role in taking Iranian crude, is located in Shandong province, the center of China’s refining industry. Partly owned by Sinopec, Rizhao is the major entry point for foreign crude for the oil major, also known as China Petroleum & Chemical Corp., and is connected with several of its facilities by a lengthy pipeline.
Last month Tamboran said it had received approval from the Northern Territory government to sell appraisal gas from the SS Pilot Project, after the Beetaloo JV and the government entered an agreement for the supply of 40 terajoules (tJ) per day from the project to the Northern Territory for an initial term of nine years starting in the first half of 2026.
“Net debt at the end of the third quarter is expected to be broadly flat compared to the end of the second quarter at around $26 billion including the impact of the redemption of $1.2 billion perpetual hybrid bonds on 1 September as planned, higher income taxes paid of around $1 billion and a working capital release”.