The International Energy Agency has lowered expectations for a global oil surplus this year amid stronger demand growth in Asia and sanctions on OPEC+ nations. “Time and again, oil markets show adaptability in the face of major challenges,” the agency said. SourceContinue Reading

Mozambique has committed to “drill, baby, drill,” and expand exploration and production activity in a key message delivered by Florival Mucave, Chairman of the Mozambique Energy Chamber, during a roundtable event in Maputo on Thursday. SourceContinue Reading

The upcoming launch of the South African National Petroleum Company reflects a broader trend across Africa, where nations are restructuring their state-owned energy enterprises to attract investment, improve efficiency and enhance energy security. SourceContinue Reading

Petrobras has requested authorization from Brazil’s environment protection agency to prepare a drilling rig for work at a disputed offshore exploration project, a sign that the state-controlled producer is optimistic about overcoming licensing hurdles.  SourceContinue Reading

EDF and TAQA Geothermal have signed a strategic Memorandum of Understanding (MoU) to collaborate on geothermal energy technologies including power generation and HVAC applications as well as Compressed Air Energy Storage in Saudi Arabia. SourceContinue Reading

ADNOC Drilling announced record financial results for both Q4 and full-year 2024, with Q4 revenue growing 41% year-over-year, and full-year revenue increasing 32% y-o-y. ADNOC attributes the success to its expansion of onshore and offshore fleets, and its oilfield services (OFS) segment. SourceContinue Reading

Sunnen Products Company has launched the HTE 1600W Tube Hone, an all-electric precision honing machine specifically designed for the oil and natural gas industry’s demanding small diameter, long bore applications. SourceContinue Reading

(Bloomberg) – Pemex (Petroleos Mexicanos) will split profits with private-sector partners in joint ventures that may account for as much as 10% of the state oil company’s output, said Mexico President Claudia Sheinbaum. SourceContinue Reading

ADNOC Gas has signed a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company. SourceContinue Reading

Vipo has opened a new Swellable Packer Manufacturing facility in Monclova, Ohio. This factory was established to better supply the long-standing oil and gas customer with swellable packers for use in installations all over the world. SourceContinue Reading