West Texas Intermediate gained 2.8% to settle near $63 a barrel after the Organization of the Petroleum Exporting Countries and its allies agreed on Saturday to add 411,000 bpd of supply in July though some members objected, including Russia. With a handful of countries lobbying for a pause in July, banks are now split on how many more hikes will come in subsequent months.
The Trump administration is moving to repeal Biden-era curbs blocking oil drilling across most of the mammoth petroleum reserve in Alaska that’s home to an estimated 8.7 billion barrels of recoverable oil.
Aker Solutions has successfully installed an autonomous drone system on Aker BP’s Edvard Grieg platform in the North Sea, enabling frequent, remote inspections from shore.
the Edvard Grieg platform, offshore North Sea
The company recently completed the first offshore beyond-visual-line-of-sight (BVLOS) drone operation, piloted from its onshore control center in Stavanger. The inspection flight was carried out using an installed drone on Aker BP’s Edvard Grieg platform.
Getech Group plc, a leading locator of subsurface energy and mineral resources, and STRYDE, the onshore nodal seismic imaging experts, have jointly announced the launch of a new high impact targeting and exploration service designed to help energy and natural resource companies explore faster and more effectively, while reducing exploration risk and cost.
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.
A turbulent week for global energy markets saw oil prices slide amid OPEC+ uncertainty and escalating U.S.-China tensions.
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 10-rig decrease last week, and a 6-rig decrease the week before that.
EOG Resources Inc. and BP Trinidad and Tobago LLC (BPTT) have put onstream the Mento field off Trinidad’s southeast coast.
The startup involved the initial discovery well. The partners will now start drilling the remaining seven wells, BP PLC said in an online statement. It did not disclose the production rate.
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.
Specialist drilling waste management company, TWMA*, has published its first quarter results for 2025, including revenue of $16.4million and EBITDA of $4.1m. The results follow a period of progress on key Group strategic initiatives, positioning TWMA for future expansion.