The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating their taxable income. Companies including ConocoPhillips, Ovintiv Inc. and Civitas Resources, Inc. lobbied in favor of it. SourceContinue Reading

Subsea7 has secured a substantial contract offshore Norway. Subsea7’s scope includes engineering, procurement, construction and installation (EPCI) of pipeline bundles, spools, protection covers and tie-ins using key vessels from Subsea7’s fleet.  SourceContinue Reading

At an open meeting on Tuesday of the Railroad Commission of Texas, Commissioner Jim Wright was unanimously elected to serve as Chairman. “It is a high honor to serve the citizens of Texas as Railroad Commissioner,” commented Wright. SourceContinue Reading

Workrise has announced an exclusive licensing agreement to bring Shell’s U-lateral drilling technology to operators across the U.S. The U-lateral technique allows operators to reduce drilling costs and save time while increasing production capacity. SourceContinue Reading

Petrobras, Exxon Mobil Corp. and Chevron Corp. have won exploration rights in Brazil’s Equatorial Margin, betting that the nation’s environmental regulator will finally open the promising offshore oil region for drilling after years of delay. SourceContinue Reading

Geospace Technologies Corporation have secured a Permanent Reservoir Monitoring contract award for Mero Fields 3 and 4 from Petrobras. The contract encompasses the supply and installation of nearly 500km of the OptoSeis® Permanent Reservoir Monitoring (PRM) system. SourceContinue Reading

TotalEnergies, jointly with QatarEnergy, has been awarded the Ahara license following the “Algeria Bid Round 2024”, launched by The National Agency for the Valorization of Hydrocarbon Resources (ALNAFT), the first call for tender conducted under the hydrocarbon law No.19-13. SourceContinue Reading

Angola’s Minister of Mineral Resources, Oil and Gas, Diamantino Azevedo, recently met with U.S. Secretary of Energy Chris Wright in Washington, D.C. to advance strategic cooperation and expand U.S. investment across oil, gas, critical minerals and renewable energy. SourceContinue Reading

The American Petroleum Institute has joined more than 100 other energy trade groups and organizations in urging the Department of the Interior to develop a new five-year offshore leasing program that fully leverages the U.S. Outer Continental Shelf. SourceContinue Reading

SLB on Monday launched Sequestri™ carbon storage solutions — a comprehensive portfolio of technologies and services for accelerating safer and more economic carbon storage projects. The Sequestri portfolio addresses the unique challenges of long-term carbon storage, SLB announced. SourceContinue Reading