Fracking has boosted U.S. oil and gas production to record highs and significantly raised America’s oil and gas exports, giving the United States sway over global oil and LNG markets. Soaring U.S. oil production has challenged OPEC’s decades-long influence on global oil supply and prices, while American LNG exports have upended global natural gas trade, both in cargo flows and pricing mechanisms.
We will then look at some of the key market movers early this week before providing you with the latest analysis of the top news events taking place in the global energy complex over the past few days. We hope you enjoy.
The FPU will be deployed northwest of the Djeno Terminal, offshore the Republic of Congo, at a depth of approximately 35 metres.
Equinor ASA and its partners have struck an oil and gas discovery nine kilometers (5.59 miles) north of the Troll field on Norway’s side of the North Sea.
Malaysia’s Petroliam Nasional Berhad (Petronas) has produced the first hydrocarbons from the Bindu field, located 210 kilometers (136 miles) off the coast of Terengganu.
EnQuest along with its joint venture partners and the Government of Indonesia have signed Production Sharing Contracts (PSCs) for the Gaea and Gaea II exploration blocks, located in Papua Barat, Indonesia.
Zephyr Energy has completed its $7.3 million acquisition of working interests in accretive, mature proved developed producing (PDP) assets in core Rocky Mountain basins. The acquisition has an effective date of 1 June 2025, with cash flow accruing to Zephyr from that date.
International industrial services provider Bilfinger has secured a contract to provide inspection services using Non-Destructive Testing (NDT) across all of bp’s North Sea assets. This milestone follows the recent three-year extension of Bilfinger’s existing insulation, access, and painting (ISP) contract with bp in the UK, originally awarded in 2019.
Baker Hughes has secured a long-term service agreement award from bp for its Tangguh Liquefied Natural Gas (LNG) plant in Papua Barat, Indonesia. This comprehensive 90-month agreement covers spare parts, repair services, and field service engineering support for critical turbomachinery at the facility including heavy-duty gas turbines, steam turbines and compressors for three LNG trains.
There has been much excitement in recent days among those who know nothing much worth knowing about the issue that the long-running ban on oil sales from the Kurdistan Region of Iraq (KRI) to Turkey may be lifted soon. Supposedly, the government of the Erbil-based semi-autonomous region of Kurdistan (the KRG) and the Baghdad-based Federal Government of Iraq (FGI) have agreed on a new mechanism for oil exports from the Kurdistan Region to the Turkish port of Ceyhan.