Momentary price spikes aside, the recent conflict and now uneasy ceasefire between Israel and Iran has done little to alter the trajectory of global oil markets, according to a new analysis by S&P Global Commodity Insights. SourceContinue Reading
Equinor and Aker BP are investing NOK 13 billion (~$1.29 billion USD) in the third phase of Johan Sverdrup, one of the world’s most carbon-efficient oil fields. New subsea infrastructure will increase recovery by 40–50 million barrels of oil equivalent (boe). SourceContinue Reading
Total U.S. liquids production managed a record-high of 20.83 million bpd in April, up roughly 50,000 barrels from the previous month, according to the Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday. SourceContinue Reading
Russia’s sanctioned Arctic LNG 2 project raised production to record levels during the last days of June as the facility appears to have resumed loading cargoes. The facility located above the Arctic Circle is key for Russia’s ambition to triple LNG production by 2030. SourceContinue Reading
According to Alberta Energy Regulator data, Cenovus Energy Inc.’s Christina Lake oil sands site vented the most natural gas in more than four years into the atmosphere when a wildfire forced an emergency shutdown of the facility in May. SourceContinue Reading
Argentina must give up its controlling stake in signature energy company YPF SA within two weeks after a New York judge sided with litigators in a $16 billion judgment, delivering a setback to President Javier Milei before crucial midterm elections. SourceContinue Reading
Danos Operations Services has been awarded a contract to provide production services for Beacon Offshore Energy’s new deepwater facility in the Gulf of America/Gulf of Mexico — the Shenandoah floating production system. SourceContinue Reading
ADNOC Drilling has secured a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs, the UAE-based company announced Monday. SourceContinue Reading
Petrobras has awarded Fugro four significant multi-year contracts for the inspection and monitoring of critical subsea infrastructure in Brazil. The contracts will see an expansion of Fugro’s remote operations capabilities, including the remote piloting of ROVs. SourceContinue Reading
TotalEnergies is in talks with potential buyers for its shale oil assets in Argentina’s Vaca Muerta, as international operators look to exit the region amid improved valuations and shifting investment priorities. SourceContinue Reading
