Saudi Arabia slashed its flagship oil price by the most in more than two years, just days after the OPEC+ alliance announced an unexpectedly large output hike.
State producer Saudi Aramco will lower Arab Light crude to its biggest buyers in Asia by $2.30 a barrel for May, according to a price list seen by Bloomberg.
The project involves the transportation and installation of a floating production system (FPS) at Garden Banks block 959, which is located off the southeastern coast of Louisiana at water depths of up to 1,635 meters.
Pakistan’s Oil and Gas Development Company Limited (OGDCL) has continued to make discoveries at the Spinwam-1 well in the Waziristan block in Khyber Pakhtunkhwa. The company said in a filing with the Pakistan Stock Exchange that it had made its third gas and condensate discovery in the well in the Hangu formation.
Brazil’s state-controlled oil producer Petroleo Brasileiro SA said it has finished building a wildlife rescue center, marking a step toward its first exploratory well in a promising yet contentious region offshore the country’s Northern state.
Kenya has renewed a contract to purchase fuel on credit from three state-owned Gulf firms by 24 months and renegotiated lower margins.
Saudi Aramco, Emirates National Oil Co. and Abu Dhabi National Oil Co. will continue to supply gasoline, diesel, kerosene and jet fuel under a 180-day credit plan, Energy and Petroleum Regulatory Authority Director-General Daniel Kiptoo said in an interview in the capital, Nairobi.
It’s official: President Donald Trump has announced sweeping tariffs on friends and foes alike, with the minimum rate at 10% and higher versions of between 20% and as much as 49%. Oil prices took a dive after the announcement, predictions of a grim economic future multiplied, and countries around the world vowed to retaliate. It’s a game of tariffs with a twist: energy imports were exempted from the tariffs.
These are big days for oilfield services (OFS) providers, and the awarding of a major drilling contract to U.S.-based giant SLB (NYSE:SLB) for an ultra-deepwater Trion project offshore Mexico is more than just another deal. It’s where the deepest offshore drilling becomes the purview of artificial intelligence.
The contract, awarded by Australia-based Woodside Energy Group (NYSE:WDE), Trion’s operator, will see SLB employ its artificial intelligence-enabled drilling capabilities to drill 18 ultra-deepwater wells with improved operational efficiency and well quality.
China’s biggest state-held energy firms are following the demand trends in the world’s top crude oil and natural gas importer.
After decades of growth, Chinese demand for transport fuels is peaking as electric vehicles and LNG-powered trucks are seizing market share from gasoline and diesel. But natural gas demand is only going up, and it’s expected to continue growing for decades.
Japan’s Terra Drone has signed an MoU with Saudi Aramco to develop innovative drone, robotics and AI-driven solutions for the oil and gas sector, the company said on Thursday.
The partnership aims to enhance safety and operational efficiency while supporting Saudi Arabia’s localisation efforts. The MoU establishes a framework for collaboration in research and development, technology piloting, and workforce training, aligning with the country’s broader economic goals.
Global infrastructure investment company Brookfield Infrastructure Partners and its institutional partners have agreed to buy all assets of Colonial Enterprises for approximately USD 9 billion, Brookfield announced on Thursday.