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World Oil News
Aggreko, a provider of mobile, modular power, temperature control and energy services, completed a 10MW flare gas to power project, the largest in Africa, to lower its total cost of energy and lessen emissions from the oil field. Source
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Guyana has some of the world’s biggest offshore discoveries made in years, with 10 billion barrels of recoverable oil and gas starting to come online since 2019. Sulzer has delivered 11 high pressure water injection pumps, and the latest order for five more HPcp pumps will support the largest FPSO in the Stabroek block. Source
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The state-owned Nigerian National Petroleum Company recently became NNPC Limited, a commercial venture. Rather than operating as a government entity, with all of the red tape and inefficiencies that went with it, the company’s focus has been shifted to productivity and earning profits. Source
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From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. Source
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The award will increase Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day, supporting ADNOC’s plans to cater for increasing global energy demand. Source
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Baker Hughes Company has announced it is restructuring and simplifying its organization and accelerating its strategic transformation. These changes will simplify operations, enhance profitability, and drive growth, meeting customer needs and producing solutions in the rapidly evolving energy and industrial markets. Source
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EnergyFunders announced the opening of a new fund, Yield Fund II, available to accredited investors. The company is building upon the recent success of Yield Fund I – its largest fundraising effort to date. Source
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The award will increase Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day, supporting ADNOC’s plans to cater for increasing global energy demand. Source
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Sarawak Shell Berhad, together with PETRONAS Carigali Sdn Bhd, has taken a final investment decision to develop the Rosmari-Marjoram gas project. Gas production is expected to start in 2026. Source
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Hydrocarbons remain a necessary part of the global energy mix. Unlocking Uganda’s fossil-fuel resources will help meet its development needs – and even reduce emissions. Source
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