Baker Hughes and Cactus, a global manufacturer of pressure control equipment for oil and gas drilling, have entered a new joint venture involving Baker Hughes’ surface pressure control (SPC) product line. Cactus will own 65% of the JV, while Baker Hughes will retain a 35% stake. SourceContinue Reading
Oil climbed after OPEC+ increased production less than some had feared and geopolitical concerns flared in Ukraine and Iran. WTI neared $63 a barrel after the Organization of the Petroleum Exporting Countries and its allies met on Saturday. SourceContinue Reading
The Trump administration is moving to repeal Biden-era curbs blocking oil drilling across most of the mammoth petroleum reserve in Alaska that’s home to an estimated 8.7 billion barrels of recoverable oil. SourceContinue Reading
The U.S. Department of Energy is canceling some $3.7 billion allocated for clean energy projects under the Trump administration’s orders. Among the canceled awards was $331 million for ExxonMobil to use hydrogen at its Baytown, Texas Olefins plant. SourceContinue Reading
Nigeria’s President Bola Tinubu has signed an executive order aimed at drawing investment in the oil sector by lowering project costs, while protecting government revenue as the West African nation looks to grow output. SourceContinue Reading
Baker Hughes and Cactus, a global manufacturer of pressure control equipment for oil and gas drilling, have entered a new joint venture involving Baker Hughes’ surface pressure control (SPC) product line. Cactus will own 65% of the JV, while Baker Hughes will retain a 35% stake. SourceContinue Reading
The Trump administration is moving to repeal Biden-era curbs blocking oil drilling across most of the mammoth petroleum reserve in Alaska that’s home to an estimated 8.7 billion barrels of recoverable oil. SourceContinue Reading
Aker Solutions has successfully installed an autonomous drone system on Aker BP’s Edvard Grieg platform in the North Sea, marking a major step toward fully autonomous offshore inspections. SourceContinue Reading
The Cooperative Republic of Guyana and African Export-Import Bank (Afreximbank) have concluded a two-day roadshow to promote access to a US $1-billion oil services financing facility announced by the Bank in February this year during the Guyana Energy Conference. SourceContinue Reading
Officials say the supply hikes reflect Saudi Arabia’s desire to punish over-producing members like Kazakhstan and Iraq, recoup market share lost to U.S. shale drillers and other rivals, and satisfy U.S. President Trump’s desire for cheaper oil. SourceContinue Reading
