Offshore oil contractor Borr Drilling Ltd. expects almost a third of the world’s fleet of shallow-water rigs to be retired in the coming years because of their age, leading to higher daily leasing rates. SourceContinue Reading

The Real Reason Iran Hasn’t Retaliated Against Israel | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – Aug 15, 2024, 2:00 PM CDT Iran has delayed its...Continue Reading

Canada’s new green technology fund is putting as much as $100 million into a carbon-capture firm that’s backed by Chevron Corp. to help it commercialize its technology. SourceContinue Reading

Avance Gas holding Ltd., whose largest shareholder is Norwegian shipping billionaire John Fredriksen, said it has agreed to sell its entire fleet of very large gas carrying ships to BW LPG Ltd. SourceContinue Reading

The slowdown in production outside OPEC+, particularly in the U.S., is expected to narrow the global oil market surplus in 2025, though production will still outpace demand. SourceContinue Reading

Kent and the Energy Institute have announced a collaboration to create comprehensive guidelines for the economics of decarbonization in greenhouse gas (GHG) emission reduction projects within the upstream oil and gas sector. SourceContinue Reading

The American Petroleum Institute (API) released a new poll conducted by Morning Consult that reveals strong support among swing state voters for policies that promote domestic oil and natural gas production, while limiting reliance on foreign energy sources. SourceContinue Reading

Seatrium Limited has successfully delivered its fourth jackup rig, named “Vali,” to Borr Drilling, about a year ahead of the planned delivery date. The project was completed on an accelerated schedule, highlighting Seatrium’s ability to execute major projects efficiently and on budget. SourceContinue Reading

TDI-Brooks has successfully completed a geotechnical coring project for Geohidra in the Southern Gulf of Mexico. The operation, conducted aboard the MV Laguna Azule, involved thirty-two cone penetration tests using the Neptune 3000 system. SourceContinue Reading

Supply Chain Woes Worsen After Chinese Port Closure | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – Aug 15, 2024, 1:00 PM CDT An explosion involving hazardous materials has shut down Ningbo Port, the world’s third-busiest container port. The closure is expected to...Continue Reading