bp has begun production from the Murlach field in the UK North Sea, marking the company’s sixth major upstream start-up of 2025. The Murlach redevelopment, a two-well subsea tieback to the bp-operated Eastern Trough Area Project (ETAP) hub, is expected to add around 15,000 barrels of oil equivalent per day (boed) at peak production.
The FPSO, which will be stationed off the coast of Portugal, will feature a 300-MW electrolyzer capable of producing up to 243,000 metric tons of green ammonia per year. Powered by certified renewable electricity purchased under a Power Purchase Agreement, the facility will play a role in meeting the growing global demand for low-carbon marine fuels.
EIG Global Energy Partners’ MidOcean Energy said it has entered into definitive agreements to invest in Petroliam Nasional Bhd’s (Petronas) Canadian businesses, including by acquiring a stake in the recently fired up LNG Canada.
Eni has signed an exploration contract with Côte d’Ivoire’s Ministry of Mines, Petroleum and Renewable Energies for the CI-707 offshore block in the Abidjan basin, the company announced on Wednesday.
“Investing now in solar, wind, hydro, and geothermal power is not just a moral and development imperative; it is also a strategic choice that strengthens supply chains, creates up to 38 million green jobs by 2030, and makes energy systems more resilient”, the Commission said.
MODEC has confirmed the award of full EPCI scope from ExxonMobil to build an FPSO for the Hammerhead development offshore Guyana, MODEC announced on Tuesday.
Exxon had nine functional companies that operated relatively independently from one another when Woods took over in 2017, creating layers of bureaucracy and duplication of support services. The company now has three main divisions — production, refining and low-carbon — all of which share services like engineering, IT and project management.
Sawan noted that natural gas is one of the best fuels to reduce emissions in places that currently rely heavily on coal, such as China, India, and the rest of Asia. “We are absolutely committed to this sector,” he said, reiterating Shell’s prediction from earlier this year that demand for liquefied natural gas is set to expand by 60% between now and 2040.
WTI crude oil (CL) extended its rebound for the second day, climbing above $64.50 per barrel. The recovery followed a two-week low hit on Monday. Strong inventory data and rising geopolitical risks injected fresh momentum into the market.
OPEC+ will likely raise oil output again in November as the group continues its strategy to reclaim global market share, according to people familiar with its plans.