Velesto Energy Berhad has secured a drilling contract valued at approximately $16.5 million from Jadestone Energy (Malaysia) Pte Ltd. to support infill drilling operations at the East Belumut field offshore Malaysia.
Saipem said it will not complete its planned acquisition of the Deep Value Driller drillship after the vessel’s owner decided to proceed with a sale to another buyer, and the company is now considering potential legal action to protect its interests.
he Railroad Commission of Texas (RRC) assessed more than $1.27 million in enforcement fines against oil and gas operators and related businesses during its latest open meeting, reinforcing compliance requirements across the state’s energy sector.
A Philippine tycoon said partnering with China may be an option in the development of a new gas field in an area of the South China Sea where the two nations have competing maritime claims.
OPEC+ is likely to consider increasing oil output by 137,000 barrels per day (bpd) for April 2026, ending a three-month pause in hikes as they prepare for peak summer demand and navigate market share strategies
Supertanker rates to ship crude on the key Middle East-to-China route have surged to a six-year high as Persian Gulf supply to India soars and traders rush shipments to precede a potential U.S. military campaign in Iran, industry data and sources tell Reuters.
Russia’s pipeline operator Transneft has cut crude intake into its system by roughly 250,000 barrels per day after damage at the Kaleykino pumping station in Tatarstan, according to Reuters sources.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 11.4 million barrels in the week ending February 20, after falling by 609,000 barrels in the week prior. Analysts had expected a smaller build of 1.85 million barrels.
In a statement sent to Rigzone on Monday, Saipem announced that it has been awarded an additional offshore contract in Saudi Arabia under its existing long-term agreement with Aramco.
The UK government announced new sanctions on Russia’s so-called shadow oil fleet as it ramped up efforts to squeeze energy revenues funding the Kremlin’s war in Ukraine.