FPSO leasing specialist firm MODEC and drone firm Terra Drone have signed a Memorandum of Understanding for the technical development of inspection drones for floating production, storage, and offloading systems.
The energy sector is poised for a moderately lower start, pressured by low conviction weakness in the underlying commodities and in the broader equity futures. Equity sentiment steadied this morning following the recent run up in the benchmark indices as the markets assessed some disappointing retail results and looked ahead to the release of the Federal Reserve meeting minutes.
RM Parks Inc. California-based US fuel distribution company signed an agreement with the BOI with an investment of U$ 100 million. The company will serve the Sri Lankan petroleum sector, in collaboration with Shell Plc.
TotalEnergies has completed today the sale to Suncor of the entirety of the shares of TotalEnergies EP Canada Ltd., comprising notably its participation in the Fort Hills oil sands asset and associated midstream commitments. The consideration for the transaction is C$1.47 billion (about US$1.1 billion), with an effective date on April 1st, 2023. Including adjustments, TotalEnergies received a cash payment at closing of C$1.83 billion (about US$1.3 billion).
Fifty years after the Trans-Alaska Pipeline, U.S. energy independence is threatened by attacks on resource development projects.
Europe’s gas storage is full, but rising winter demand and Asian market competition could drive prices up.
Oil markets are now fully focused on the upcoming OPEC+ meeting, with reports that the group may deepen cuts being counteracted by an apparent lack of unity amongst OPEC members on the issue.
Africa’s oil production is set for a gradual decline in 2024, the African Energy Chamber said in a new report on the industry this weekend.
The Nigerian economy depends significantly on the oil and gas sector. Despite persistent challenges, recent technological advancements, including robotics, advanced instrumentation, drones, and rapid progress in artificial intelligence solutions, are bringing about a transformative era for the industry. This article explores the potential of these cutting-edge technologies to enhance sub-surface production monitoring, enabling real-time measurement, and ensuring the secure transportation of produced volumes across an extensive network of pipelines and surface installations in a bid to contribute to the enhancement of Nigeria’s economic prosperity through technological innovation.
he Federal Government has lost an estimated $16tn to natural gas flaring in 10 years, a report obtained by The PUNCH on Monday has shown.