The company said in a press release it has secured multiple awards to provide anticorrosion coating services for the oil and gas markets in Western Canada and the UAE. In the United States and Saudi Arabia, Perma-Pipe will deliver double-containment and pre-insulated piping solutions for data center and industrial expansion projects under multiple contracts.
Perenco CEO Armel Simondin said, “This test has met our expectations, both in terms of technical execution and the quality of data gathered. These insights are instrumental as we move to the next phase of developing the Poseidon Project. The successful test highlights the role our industry can play in the UK’s decarbonization efforts. The Perenco CCS team and our joint venture partners are now fully focused on interpreting the results and converting new insights into an evidence-based development plan for Project Poseidon”.
Abu Dhabi National Oil Co. is working with advisers to evaluate an offer for the assets that could potentially be worth about $9 billion, said the people, who asked not to be identified as the matter is private. Other suitors are also circling Aethon’s natural gas and midstream assets that are mostly based in Texas and Louisiana, the people said.
Deliberations are in the early stages and no final agreements have been reached, the people said. It isn’t immediately clear if recent market volatility would impact the transaction.
The updated OSD system supports continuous communication with the Miros Cloud infrastructure and is the backbone of the Miros OSD Monitoring application. Vital oil spill data is instantly synced to the cloud, ensuring all stakeholders have access to the same real-time information, enabling seamless collaboration and informed decision-making.
After taking a 70% stake in Terna Energy in December 2024 at EUR 20 per share in a deal that valued the company at EUR 3.2 billion, Masdar has acquired the remaining 30%, also at EUR 20 per share. Upon completion of the transaction, Terna’s shares will be delisted from the Athens Stock Exchange.
At the heart of China’s energy strategy lies its ambitious, seven-year (2019-2025) domestic oil and gas production campaign launched by the National Energy Administration in response to growing energy security concerns. The results have been promising: since the campaign’s inception China has reversed a domestic production decline and increased output by approximately 480,000 barrels per day. However, the country’s dependency on foreign oil remains high, with imports filling more than 70% of Chinese demand.
The recent reiteration by Iraq Oil Ministry of a 7 million barrels per day (bpd) oil production target within the next five years has spurred activity among Chinese firms that continue to dominate the country’s oil and gas sector. As it stands, more than a third of all Iraq’s proven oil and gas reserves and over two-thirds of its current production are managed by Beijing’s companies, according to industry figures. This translates into Chinese companies having a combined direct share in around 24 billion barrels of reserves and responsibility for production of around 3.0 million bpd. The latest in the very long line of Beijing’s firms to benefit from its ongoing stealthy takeover of Iraq’s huge oil and gas assets is China Huanqiu Contracting & Engineering Company (HQC), which has signed a huge project management consultancy contract for the supergiant West Qurna 1 oilfield.
“President Trump is trying to lower inflation, and lowering energy prices is the crux of that strategy,” said Simon Wong, an analyst at Gabelli Funds. Subdued inflation would empower the Federal Reserve to cut interest rates, which would allow Trump to refinance trillions in debt at reduced rates, he added.
Oil executives had identified efforts by New York and other states to penalize the industry for its greenhouse gas emissions and contributions to climate change as a top concern during a meeting with the president at the White House last month, according to people familiar with the matter. It’s an example of how the industry is getting much of what it wants from the administration, even as Trump’s global tariffs have triggered a sharp drop in crude prices over the past week.
Ambassadors from the bloc’s 27 member states will meet in Brussels on Friday to sign off on a joint push for a 10 percentage-point deviation until 2027 from rules that require tanks to be 90 percent full by winter. If their position is agreed soon with the European Parliament in upcoming talks, the new regulations could come into effect before the next heating season.