Indonesia Energy Corp. (IEC) is advancing drilling of its K-29 well at the Kruh Block on Sumatra, with the well reaching more than 2,500 ft as it approaches the targeted reservoir interval.
bp has awarded Emerson a multi-million-dollar contract to provide automation technologies for the $2.9 billion Shah Deniz Compression project offshore Azerbaijan, supporting increased gas recovery from the Caspian Sea field.
Petro-Victory Energy Corp. has more than doubled oil production during its first year of operations at Capixaba Energia in Brazil, while reducing production costs and identifying additional reservoir opportunities through a workover and optimization program.
Freight costs for oil tankers shipping crude from the Black Sea to the Mediterranean have risen to a record after a flurry of drone attacks, driving down prices for Kazakhstan’s main CPC export grade.
Energy and marine consultancy ABL has signed a memorandum of understanding (MoU) with shipbroker Baltic Maritime Broker (BMB) to provide vessel assurance and marine risk services supporting offshore energy operations across the Baltic Sea.
The U.S. Department of the Interior’s third Gulf of America/Mexico oil and gas lease sale generated $82.7 million in high bids, with 16 companies competing for offshore acreage as the Trump administration moves forward with a congressionally mandated series of Gulf lease sales.
Greenland Energy Company and JV partner 80 Mile are now targeting winter 2027 for permits covering the company’s planned oil exploration program in East Greenland’s Jameson Land basin after regulators indicated the project will require a more extensive review.
Iran is battling an oil spill off Qeshm Island, underscoring the environmental risks posed by attacks on tankers in the Persian Gulf.
South Korean private equity firm Hahn & Co plans to reshuffle the liquefied natural gas tanker fleets of its shipping companies SK Shipping and H-Line Shipping to create Asia’s biggest and the world’s third-largest operator of LNG carriers.
Indian state-controlled oil refiners continue to search the market for spot crude supply as term deliveries are constrained by the ongoing crisis in the Middle East and its key oil chokepoint, the Strait of Hormuz.