Chevron is nearing a deal to operate two giant oil fields holding billions of barrels of heavy oil in Venezuela’s Orinoco Belt, potentially marking a major expansion of the U.S. producer’s footprint in the country. SourceContinue Reading
Two oil supertankers attempting to exit the Strait of Hormuz were reportedly struck by projectiles as renewed U.S.-Iran hostilities threaten a recent recovery in oil shipments through the critical waterway. SourceContinue Reading
Subsea Cable Assets has launched a cable carousel rental service with new 4,000- and 6,000-ton systems for handling cables, flexibles and umbilicals, with the first rental contract already secured for a European project. SourceContinue Reading
The Railroad Commission of Texas has named David Lindley director of its Oil and Gas Division, which oversees oil and natural gas exploration, production, permitting and field operations across the state. SourceContinue Reading
SLB will acquire thermal management provider Kelvion in a $4.1-billion deal, significantly expanding its data center infrastructure business as surging AI investment drives demand for cooling, power and integrated facility solutions. SourceContinue Reading
ONGC plans to invest $736 million in a 13-million-bbl underground strategic crude storage project in southern India as the country looks to strengthen its defenses against oil supply disruptions. SourceContinue Reading
Peak hurricane season can leave offshore operators with little time to react. Predictive maintenance can identify equipment risks early, giving teams more time to protect production and avoid unplanned downtime. SourceContinue Reading
Ranger Energy Services will acquire STEP Energy Services’ U.S. coiled tubing assets for $27.5 million, adding 13 coiled tubing spreads and significantly expanding its Permian and Bakken operations. SourceContinue Reading
Helix shareholders have approved the company’s all-stock combination with Hornbeck Offshore Services, clearing the way for the offshore services merger to close Sept. 1. Hornbeck securityholders will own approximately 55% of the combined company. SourceContinue Reading
SLB will acquire thermal management provider Kelvion for $3.4 billion in cash, significantly expanding its data center infrastructure business as surging AI investment drives demand for cooling, power and integrated facility solutions. SourceContinue Reading
