Brent crude could again test $120/bbl as Middle East supply disruptions, falling inventories and widespread refinery constraints erode the buffers that previously helped contain oil prices, according to analysts at PVM Oil Associates, part of TP ICAP. John Evans, analyst at PVM, said the prospect of $120 Brent has become a “live” consideration again […]
Fulkrum has been awarded an inspection services contract by Vår Energi covering projects across the operator’s Norwegian Continental Shelf (NCS) portfolio. Under the framework agreement, Fulkrum is currently supporting three subsea developments in the Gjøa area: Ophelia, Gjøa Nord and Cerisa. The company is providing inspection and testing of equipment and systems both offshore […]
PETRONAS has signed a five-year agreement to supply LNG to Greek energy company METLEN, expanding the Malaysian company’s presence in European and Mediterranean gas markets. Under the sale and purchase agreement, PETRONAS subsidiary PETCO Trading (UK) Ltd. will deliver six LNG cargoes annually to Greece beginning in 2027. The volumes are equivalent to approximately 0.6 […]
Wood has secured a five-year, $200 million construction services contract from ExxonMobil PNG to support brownfield projects across the PNG LNG project in Papua New Guinea. The contract covers work across the Hides Gas Conditioning Plant, the LNG plant at Caution Bay, approximately 700 km of pipeline infrastructure and associated well pads and flowlines. More […]
Saipem has won a $350 million offshore contract from Azule Energy for subsea work on the Agogo Integrated West Hub Development offshore Angola.
On Thursday, a discovery from June, made in the Acacia-5 development of Angola’s offshore Block 17, was announced by TotalEnergies‘ Chairman and CEO Patrick Pouyanné. The discovery was made near to existing production at Block 17, allowing development to be fast-tracked via a tie-back using spare capacity on the Pazflor FPSO. This means no new […]
TotalEnergies SE and its partners plan to invest $10 billion in Angola’s oil sector over the next five years in order to sustain production in the country. The French energy company produces about 450,000 barrels of oil a day in Angola, more than 40% of the nation’s output, Chief Executive Officer Patrick Pouyanné said at […]
Malaysian state energy firm Petronas said on Monday its unit and subsidiaries of Thailand’s PTT had secured government approvals for a new production-sharing contract (PSC) covering a major gas-producing block in their joint development area.
Up to 15 percent production improvements realized through advanced engineering, project development, lifecycle support and digital optimization
Guyana’s president says his country has seen an increase in oil revenue as the Iran conflict reshapes global markets. President Mohamed Irfaan Ali insists he does not want Guyana to depend solely on its oil wealth. In recent months, oil revenues in the South American country have increased sharply as the US-Israel war on Iran […]