During its June 2025 Commissioners’ Conference, the Railroad Commission of Texas (RRC) assessed over $1.4 million in penalties on oil and gas operators for violations. The RRC is the state agency responsible for regulating the oil and gas industry in Texas, including pipeline safety. SourceContinue Reading
U.S. oil inventories dropped 11.5 million barrels in the week through June 13, the steepest slide since late June 2024, according to data released Wednesday by the U.S. Energy Information Administration (EIA). SourceContinue Reading
The contract includes a firm commitment to drill two exploration wells, targeting drill-ready prospects that offer significant resource potential and are strategically positioned to unlock synergies with Petronas’ existing operations in Suriname. SourceContinue Reading
DNV’s latest service specification, DNV-SE-0696, provides a structured methodology to de-risk CCUS projects across design, construction, and operation—addressing a key industry need as carbon capture scales globally. SourceContinue Reading
Oil swung in a turbulent session amid speculation the U.S. may join the Middle East conflict. The oil market’s main concerns are flows from Iran and the threat to vessel traffic in the Strait of Hormuz, through which about a quarter of the world’s crude shipments flow. SourceContinue Reading
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
