Oil & Gas

OPEC+ tensions with Kazakhstan escalate, sending oil prices lower

Oil & Gas‚ Oil and Gas Industry | intent | April 24, 2025 | Comment off

OPEC+’s audacious bid to punish its oil-quota cheats prompted a renewed plunge in crude on Wednesday, as growing tensions with Kazakhstan stoked fears of an escalating price war.

Oil markets have been jittery since early April, when the producers’ group led by Saudi Arabia stunned traders by accelerating the revival in its output. This was an apparent effort to discipline over-producing members by driving down prices, yet Kazakhstan — the greatest offender — has continued to pump as usual at its biggest fields.

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Vantage Drilling secures $80 million contract for deepwater drillship

Oil & Gas‚ Oil and Gas Industry | intent | April 24, 2025 | Comment off

Vantage Drilling International has received a conditional letter of award for the Platinum Explorer deepwater drillship with a 90-day validity period. The contract value is circa $80 million with an anticipated 260 days required to render the campaign, inclusive of mobilization time, paid-for contract preparation time and demobilization time.

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AIQ and Weatherford to deploy AI-driven efficiency tools in energy

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

AIQ and Weatherford have signed a strategic collaboration agreement to integrate AIQ’s artificial intelligence systems with Weatherford’s digital oilfield technologies, the companies said on Tuesday.

The partnership aims to enhance efficiency in global energy operations. It will bring together AIQ’s AI platforms with Weatherford’s Modern Edge suite, Unified Data Model and WFRD Software Launchpad. The integration is designed to modernise workflows, reduce downtime and cut operational costs across energy facilities worldwide.

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Halliburton announces tariff impact on drilling, frac operations

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

Halliburton Co., the world’s largest provider of hydraulic fracturing services, fell sharply after warning investors that tariffs will impact a wide swath of the company’s business units.

The dominant North American oil field services provider told investors Tuesday on a conference call that tariffs will have an impact of 2 to 3 cents per share during the second quarter, with 60% of the hit affecting its completions-and-production unit, which houses the fracing business. The rest of the tariffs impact will be to its drilling and evaluation segment.

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Turkey Eyes Oil & Gas Exploration In Bulgaria, Iraq And Libya

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

Turkey is currently in talks to explore for oil and gas in Bulgaria, with similar plans for exploration in Iraq and Libya, Turkish Energy Minister Alparslan Bayraktar has revealed. According to the minister, state-owned energy company Turkiye Petrolleri AO (TPAO) will sign an agreement with an unnamed foreign partner within the next month to conduct exploration in Bulgaria’s section of the Black Sea. 

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