Two supertankers loaded with crude oil exited the Strait of Hormuz today and are heading to China, Reuters reported, citing data from LSEG and Kpler.
Norwegian offshore oil production significantly exceeded expectations in April, with total liquids output climbing to 2.158 million barrels per day — 6.7% above official forecasts — as Europe grows increasingly dependent on a stable North Sea energy supply in an increasingly fragile global market.
Saudi Arabia is importing more fuel oil than before, to use in power generation as its natural gas production reverses direction and declines, Reuters has reported, citing Rystad Energy.
QatarEnergy has increased its participation in Uruguay’s offshore upstream sector with the acquisition from Shell subsidiary BG International of a non-operated interest in Block OFF-4, QatarEnergy announced on Wednesday.
Taimi Nangula Itembu, co-founder and executive director of Zephyr Marine Services, talks to The Energy Year about positioning the company to capture business from Namibia’s offshore boom and investing in capabilities to participate in the full oil and gas project lifecycle.
EIG’s MidOcean Energy has secured a $120 million equity commitment from The Arab Energy Fund (TAEF), toward a $2 billion investment target from newcomers.
bp has signed three production sharing contracts (PSCs) in Indonesia, expanding its upstream exploration portfolio near the company’s existing Tangguh LNG operations in Papua Barat and adding participation in a new East Java block.
ADNOC and SNF have signed an agreement to evaluate expanded enhanced oil recovery (EOR) activity in the UAE, including potential local manufacturing of EOR chemicals and additional polymer flooding applications.
BW Energy has approved offshore development projects in Gabon and Brazil that are expected to increase company production above 100,000 bopd by 2028.
Venezuela is making a fresh pitch to foreign oil companies: this time, if things go sideways, you may not have to fight it out in Caracas.