OPEC Production Increase Misguides Markets | OilPrice.com Cyril Widdershoven Dr. Cyril Widdershoven is a long-time observer of the global energy market. Presently he works as Director of Energy Security and Supply Chains, at Strategy… More Info Premium Content By Cyril Widdershoven – Jul 07, 2025, 1:30 PM CDT Global oil markets are again showing the...Continue Reading

Draeger Marine & Offshore (DMO) has supplied equipment to support the UK’s first CO2 injection test for carbon capture and storage (CCS). The gas monitoring equipment is being used to ensure safe operations aboard Petrodec’s ERDA rig in the North Sea. SourceContinue Reading

Cyprus Confirms 350-Meter Gas Column in ExxonMobil’s Pegasus-1 Well | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jul 07, 2025, 12:30 PM CDT The government of Cyprus has confirmed a new natural gas discovery in the Pegasus-1 well located in Block 10, operated by ExxonMobil...Continue Reading

Valaris has been awarded a 940-day contract extension for drillship VALARIS DS-16, starting in June 2026, and a new 914-day contract for drillship VALARIS DS-18, the company announced. The combined addition to contracted revenue backlog is approximately $760 million. SourceContinue Reading

Back in the dark days of Covid, we wrote a paper that said the electricity industry was spending only a fraction of what it needed to spend to modernize plant and get ready for climate change. Now, more than six years later, industry spending is getting closer to the required number set back then but...Continue Reading

McDermott has been awarded a sizeable* offshore transportation and installation contract by BRAVA Energia, an independent oil and gas company in Brazil, for the Papa-Terra field in the Campos Basin and the Atlanta field in Block BS-4 within the Santos Basin. SourceContinue Reading

A government -backed fund is pledging more than £2 for a carbon capture project. Energy secretary Ed Miliband has said that workers in “Britain’s manufacturing heartlands” will benefit from the investment in the Peak Cluster works. Peak Cluster is working towards a pipeline that will take carbon emissions from cement and lime companies in the...Continue Reading

State-owned Indian Oil Corporation, the biggest refiner in India, expects international crude oil prices to stabilize in the $65 to $70 per barrel range for the rest of the fiscal year, with potential dips below $65 a barrel, IndianOil chairman AS Sahney told the NDTV Profit outlet on Monday. “There is still some room for...Continue Reading

U.S. Energy Giants Set to Sign $34 Billion Worth of Deals With Indonesia | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jul 07, 2025, 9:30 AM CDT U.S. supermajors ExxonMobil and Chevron, Indonesia’s state energy firm Pertamina, and other companies from the two countries are...Continue Reading

OPEC+ to Complete Unwinding of Oil Output Cuts With Big September Hike | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Premium Content By Charles Kennedy – Jul 07, 2025, 8:44 AM CDT OPEC+ plans to fully unwind its 2.2 million bpd production cuts by September, much faster than originally scheduled. The...Continue Reading