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 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.
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.
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.
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 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.
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.
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.
Cnooc’s focus on extraction leaves its earnings heavily dependent on global oil prices, which averaged about 3% less in 2024 on-year. But it also means the company is relatively unaffected by headwinds to demand faced by downstream peers. Earlier this week, China’s biggest top, Sinopec, reported a tumble in profits as the electric-vehicle boom weighs on fuel consumption.
The latest round of US sanctions on Iran, which now targets Chinese so-called ‘teapot’ oil refineries—small, independently owned facilities—signals a growing determination to tighten the economic noose around the Tehran administration. With potential consequences reaching far beyond Iran itself, these moves could reshape geopolitics, disrupt the global economy and send shockwaves through energy markets.
While there is not yet a “maximum pressure” situation—where Iranian oil exports could drop from 1.5 million barrels per day (bpd) to near zero—Washington is stepping up efforts to push Tehran back to the negotiating table for a new nuclear deal. However, escalating pressure could drive oil prices higher, conflicting with US President Donald Trump’s goal of lowering energy costs to fight inflation, as he promised in his January inauguration speech. Rystad Energy’s data on oil trade flows shows that almost all Iranian crude exports make their way to China, so achieving effective maximum pressure would require cooperation from the Chinese government.