oil and gas

OPEC+ Agrees to Make Larger Than Expected Supply Hike in May

Oil & Gas‚ Oil and Gas Industry | intent | April 4, 2025 | Comment off

OPEC+ agreed to make a larger than expected oil supply hike in May, adding the equivalent of three monthly tranches from its previous plan to revive output.

The group led by Saudi Arabia and Russia will add 411,000 barrels a day to the market next month, according to a statement posted on the OPEC website. The decision followed a conference call between ministers on Thursday that was focused on member countries that had been consistently exceeding their quotas, delegates said, asking not to be identified as the talks were private.

Aker BP, SLB, Stimwell Extend Alliance for Five More Years

Oil & Gas‚ Oil and Gas Industry | intent | April 4, 2025 | Comment off

Aker BP ASA has extended its alliance agreement with SLB (Schlumberger Limited) and Stimwell Services Ltd. for another five years. The alliance formed in 2019 has supported Aker BP’s operated assets in meeting production targets.
Aker BP said in a media release the alliance will work on further accelerating and boosting oil production.

Kongsberg secures equipment contract for new offshore support vessel

Oil & Gas‚ Oil and Gas Industry | intent | April 4, 2025 | Comment off

Kongsberg Maritime has secured a contract to supply an integrated package of equipment for a new Offshore Support Vessel (OSV) being built for ship owner DOF.

The new 110-meter OSV, with a capacity to accommodate 164 people, is designed by MMC Ship Design and constructed at CRIST shipyard in Gdynia, Poland. The vessel will operate offshore Newfoundland, known for its harsh environmental conditions.

bp starts production from Cypre gas field, Trinidad and Tobago

Oil & Gas‚ Oil and Gas Industry | intent | April 4, 2025 | Comment off

bp Trinidad and Tobago (bpTT) today confirms its Cypre development has safely delivered its first gas.
bp’s Juniper rig, offshore Trinidad
Cypre is one of bp’s 10 major projects expected to start up worldwide between 2025 and 2027, announced as part of bp’s reset strategy to grow the upstream. Production from Cypre will make a significant contribution towards the 250,000 barrels of oil equivalent per day (boed) combined peak net production expected from these 10 projects.

African oil giants advance IPO plans to attract investment

Oil & Gas‚ Oil and Gas Industry | intent | April 4, 2025 | Comment off

In a bid to bolster investment and competitiveness within Africa’s oil and gas sector, national oil companies (NOCs) in Nigeria and Angola are progressing with long-anticipated initial public offerings (IPOs). These IPOs are poised to attract significant global investment, providing much-needed capital to enhance production capabilities, improve infrastructure and foster long-term growth. This move reflects a broader trend of African nations seeking to modernize and diversify their energy sectors, signaling a shift toward greater transparency and accountability in state-owned enterprises, while also positioning the continent as a more attractive investment destination in the global energy market.

What Trends Will Shape Oil and Gas Hiring In 2025?

Oil & Gas‚ Oil and Gas Industry | intent | April 2, 2025 | Comment off

OneSource Professional Search describes itself on its website as an executive and technical search firm. Mount told Rigzone that the business focuses primarily on U.S. oil and gas jobs or companies that are based in the U.S. with international operations. Mount also highlighted to Rigzone that OneSource Professional Search was acquired by Boston-based Xenspire Group in September 2024.

New Report Shows USA Oil and Gas Wages by Industry

Oil & Gas‚ Oil and Gas Industry | intent | April 2, 2025 | Comment off

The oil and gas industry paid a national average wage of $81,808 in 2024, TIPRO stated in its report. This national average grew by $1,767 year on year, according to the report, which showed that the national average stood at $80,041 in 2023, $76,027 in 2022, $70,413 in 2021, $70,558 in 2020, and $71,247 in 2019.

BP cuts renewable investment and boosts oil and gas in strategy shift

Oil & Gas‚ Oil and Gas Industry‚ Uncategorized | intent | April 2, 2025 | Comment off

BP cut planned annual investment in renewable energy businesses by more than $5 billion, from its previous forecast, to between $1.5 billion and $2 billion per year. It now aims to grow oil and gas production to between 2.3 million and 2.5 million barrels of oil equivalent per day (boepd) in 2030. It pumped 2.36 million boepd in 2024.

Nigeria courts Chinese investment as interest booms in oil, gas and bigger opportunities

Oil & Gas‚ Oil and Gas Industry | intent | April 2, 2025 | Comment off

In September, the Nigerian president attended the Forum on China-Africa Cooperation (FOCAC) in Beijing and carried out a state visit to China, and since then more than 200 Chinese companies have expressed interest in investing in Nigeria. It followed the signing of the Nigeria-China relationship agreement last year, with 74 of those companies specifically focused on the oil and gas industry.

Africa’s Oil and Gas Investment to Hit $43 Billion in 2025

Oil & Gas‚ Oil and Gas Industry | intent | April 2, 2025 | Comment off

Despite the growing emphasis on natural gas with international majors exploring and putting online gas projects and LNG export facilities around Africa, projections indicate that liquid hydrocarbons will still hold the lion’s share of capex, attracting 60% of the total investment through 2030. But natural gas is gradually gaining ground and its share of annual expenditure is set to increase from around 30% in 2023 to more than 40% by the end of the decade, the African Energy Chamber’s report says.

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