OPEC+’s decision to delay a rollback of production cuts agreed last year has rekindled trader interest in the commodity with a view to a tighter supply picture in 2025.
Team Trump is preparing to make sweeping changes to the U.S. energy sector on day one. Boosting U.S. oil and gas drilling and accelerating permits for domestic energy infrastructure and LNG exports are expected to be top priorities for the new administration.
Bram and Starnav will be responsible for chartering six vessels each to Petrobras. The contracts include a period of up to four years for mobilisation and 12 years of operation, during which the vessels will support Petrobras’s exploration and production activities.
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.