(Bloomberg) – BP Plc is pushing back plans to make renewable fuels on the site of its former Kwinana oil refinery in Australia, amid a broader cost-cutting drive within the company. BP has previously said it was looking at producing green hydrogen at Kwinana in addition to renewable fuels. SourceContinue Reading

Shell has restarted production at the Penguins field in the UK North Sea with a new FPSO facility. Shell UK is the operator, and NEO Energy owns 50% interest. The Penguins FPSO is the first Shell-operated new facility in the North Sea in more than 20 years. SourceContinue Reading

SLB OneSubsea™ has secured a contract with Vår Energi to deliver subsea production systems (SPS) for offshore Norway developments. The award leverages the existing strategic subsea partnership agreement between the two companies. SourceContinue Reading

The FPSO Baobab Ivoirien MV10, operated by Canadian Natural Resources International (CNRI), ceased hydrocarbon production on schedule Jan. 31, CNRI’s partner VAALCO Energy announced. The vessel will be transported to Dubai for refurbishment. SourceContinue Reading

Upstream M&A activity is expected to slow significantly in 2025 following two years of record-high transactions driven by U.S. shale mergers, reports Rystad Energy in its latest analysis, estimating the global deal pipeline value at $150 billion. SourceContinue Reading

Abyss Solutions has signed a research and development contract with Petrobras. The partnership focuses on the development of an innovative image contextualization and enrichment service capable of aggregate engineering and operational metadata. SourceContinue Reading

(Bloomberg) – OPEC+ declined to alter its existing oil-production plans at a review meeting on Monday, even as President Trump called for lower crude prices. A panel of key members maintained plans to keep a lid on crude supplies for Q1 2025, according to statements. SourceContinue Reading

(Bloomberg) – Nigeria, Africa’s biggest oil producer, has set itself a target of boosting daily production by about three fifths to 2.7 million barrels of crude and condensate by 2027, an adviser to the country’s president said. SourceContinue Reading

Baker Hughes has won a multi-year contract with ExxonMobil Guyana to provide all topsides, subsea, water injection and utility chemicals for the Errea Wittu and Jaguar FPSO vessels. The offshore developments feature combined 500,000 bpd capacity. SourceContinue Reading

Ecopetrol S.A. announced that its U.S. subsidiary, Ecopetrol Permian, has reached an agreement with Occidental Petroleum (OXY) to extend its development plan of Rodeo Midland Basin LLC under the joint-venture first established in July 2019.  SourceContinue Reading