The contracts were awarded to Exxon Mobil and Macquarie. The oil will be delivered to the reserve’s Bayou Choctaw storage site from October 1 through December 31, the Energy Department said. SourceContinue Reading
Viaro will take full ownership of the Bacton onshore gas terminal and 11 offshore facilities that produced around 28,000 boe last year, according to a statement from the company on Tuesday. That’s equivalent to about 5% of total UK gas production, and the company said it sees potential to expand production further. SourceContinue Reading
Subsea7 has been awarded an engineering, procurement, construction, and installation contract by bp for the Murlach development, formerly known as the Skua field, located 149 miles east of Aberdeen in the UK North Sea. SourceContinue Reading
European energy companies have been grappling with competing forces — the negative impact of low natural gas prices and falling refining margins due to weak fuel demand, against the positive effect of higher crude prices amid OPEC+ supply cuts. For Eni, the upside outweighed the downside. SourceContinue Reading
The cost to drill and frac new wells in U.S. shale basins is expected to drop about 10% this year as explorers look to get more for less amid record output, according to a report from Wood Mackenzie. SourceContinue Reading
The Biden administration wants more money to purchase oil as it seeks to expand its efforts to refill the depleted U.S. emergency cache. SourceContinue Reading
Post Oak Minerals V, an affiliate of Post Oak Energy Capital LP, has completed 10 acquisitions valued at over $475 million since early 2024, primarily focusing on the Permian Basin. SourceContinue Reading
Seatrium Financial Services has secured a three-year $810 million syndicated bank guarantee facility. The facility, coordinated by DBS Bank and Standard Chartered Bank, involves eight leading financial institutions. SourceContinue Reading
TotalEnergies has announced its withdrawal from offshore Blocks 11B/12B and 5/6/7 off the southern coast of South Africa. This decision follows the exit of partner CNRI from Block 11B/12B, where TotalEnergies EP South Africa holds a 45% interest. SourceContinue Reading
The deal is part of Occidental’s previously announced plan to divest assets to help fund its acquisition of closely held CrownRock LP. SourceContinue Reading
