The Italian EPC player will support the development of offshore facilities for the transportation and storage of CO2 in the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT) projects – part of the UK’s East Coast Cluster of carbon projects.
Subsea 7 has been awarded a contract worth up to USD 300 million for works offshore Saudi Arabia as part of a long-term agreement, the company said on Thursday.
Construction on the expanded plant is set to begin in mid-2025, with first production expected in 2028, followed by a three-year ramp up to full capacity.
Colombia’s state-owned energy company Ecopetrol and Canadian independent Parex Resources have signed five new agreements to conduct E&P activities in Colombia’s Putumayo and Piedemonte basins, the companies announced on Wednesday. In the Putumayo basin, Parex will acquire a 50% working interest in the Orito, Area Sur, Occidente and Nororiente blocks and assume full operatorship. The company has […]
Dr Doku explained that the delay was due to routine pipeline maintenance, which included an extensive cleaning exercise mandated by regulatory requirements.
Trump is likely to implement universal tariffs on imports to encourage domestic production, along with incentives for reshoring key industries back to the US. He will most likely reduce the corporate tax rate to 15%, extend individual tax cuts, and eliminate taxes on Social Security benefits. At the same time, he is almost certain to push for a “big bang” of deregulation, which will decrease the regulatory burden and costs for corporate America. On the balance, while tariffs will ultimately be inflationary, tax cuts and deregulation will be deflationary, and it’s hard to predict which factors will prevail in the end.
In a letter to Speaker Johnson, the coalition highlights an alarming trend: the average time for energy infrastructure projects to go from initial permitting to operation has more than doubled, from two years in 2000 to over five years in 2021. This significant delay is deterring investment, impedes the nation’s ability to meet future energy demands and jeopardizes national energy security.
Signature of the LOI enables Sunda Energy to progress regulatory approvals for the use of the jackup rig in Timor-Leste, including the preparation of the required drilling safety case and other campaign specific documentation, in compliance with applicable law in Timor-Leste. The rig is expected to complete its ongoing work in the region before becoming available for Chuditch appraisal drilling in Q2 2025.
The change compared with a build of 1.23 million barrels for the week, as estimated by the American Petroleum Institute a day earlier. It also compared with an EIA-estimated draw of 1.8 million barrels for the prior week.
The upstream oil and gas sector stands on the cusp of entering a new investment cycle — one that Rystad Energy has dubbed the ‘deliver in uncertainty’ cycle — where there is set to be an increased focus among players to deliver on sustainability targets while remaining financially robust.