Eni SpA and Repsol SA plan to start exporting natural gas from Venezuela by the end of 2031 after reaching a deal with Caracas to revive a long-stalled effort to expand production from a massive offshore field.
President Donald Trump has invoked the Defense Production Act (DPA) to accelerate domestic oil and gas development, directing federal support toward upstream production, refining and critical energy infrastructure.
Griffon Marine has sold its BHT-130 series hovercraft Solent Express to Caspian Offshore Construction (COC), where the vessel will support oil and gas operations in the North Caspian Sea.
President Donald Trump said it’s “highly unlikely” he would extend the two-week ceasefire with Iran if a deal is not reached before it ends, and said the Strait of Hormuz would remain blocked until an agreement is finalized.
TGS has secured a three-year extension to its ongoing ocean bottom node (OBN) seismic acquisition contract in the Gulf of America/Mexico, reinforcing continued demand for high-resolution subsurface imaging in offshore developments.
Pakistan is paying an all-time high premium of $34 per barrel on petroleum product imports amid the supply crunch caused by the war in the Middle East.
As tensions in the Middle East escalated again over the weekend, the Iran-aligned Houthis threatened to close the Bab el-Mandeb Strait, the key oil shipping lane still open for crude shipments from the Middle East via ports on the Red Sea.
Eni has made a giant gas discovery in the Kutei Basin offshore Indonesia that could hold reserves of about 142 bcm (5 tcf) of gas and 300 million barrels of condensate, the company announced on Monday.
Kuwait declared force majeure on shipments of crude oil and refined products as the blockade of the Strait of Hormuz makes it impossible to meet obligations to customers that can’t bring vessels into the Persian Gulf.
Trafigura has signed a USD 1-billion oil prepayment agreement with Gabon in exchange for exclusive crude oil offtake for a period of seven years, the company announced on Wednesday.