Industry News

Oil extended last week's gain.

OPEC+'s oil output hikes are part of a Saudi strategy that will see the kingdom embark on a long but shallow price war designed to recapture market share, Bank of America Corp.'s head of commodities research said.

Iberdrola's U.S. subsidiary installed nearly 600 MW in the last six months.

North America cut two rigs week on week, according to Baker Hughes' latest North America rotary rig count.

Venezuela's government is laying the groundwork for a 50 percent hike in fuel prices at the pump.

The company said it expects the transaction, which has an effective date of January 1, to close in the third quarter.

BEL Valves announced in a release sent to Rigzone recently that it had 'lock[ed]... in [a] GBP 5 million ($6.7 million) North Sea oil installation'.

NPCC's summer peak electricity demand is projected to be 104,600 MW, about 400 MW lower than last summer.

Standard Lithium successfully produced battery-quality lithium sulfide using Telescope Innovations' new trademarked low-temperature method.

Italy's Eni and Argentina's YPF signed an agreement to build a liquefaction facility to enable the export of natural gas from the Vaca Muerta field.

Weizhou 5-3 is expected to reach a peak output of about 10,000 bpd next year.

'The completion of this transaction marks a transformational step for XCF Global and the decarbonization of the aviation industry', XCF Global CEO Mihir Dange said.

'Through our STEM education program, ADNOC is equipping the UAE's young talent with the skills and mindset needed to thrive in an AI-driven future', Saif Al Falahi, Director, Group Business Support & Special Tasks at ADNOC, said.

'Notably, it does not appear that production in Saudi Arabia has ramped up significantly'.

Its partners will continue working on the maintenance and upgrade of around 12,400 miles of overhead lines over the next four years.

Fennex bagged a multi-year deal from EnQuest to deploy the flagship AI-powered Behaviour-Based Safety System across EnQuest's UK operations.

Canada's oil sands industry reduced its emissions per barrel for the sixth straight year in 2023.

Kenya lawmakers said a lack of detail over Tullow Oil Plc's sale of oil assets to local company Gulf Energy 'raises concerns' for the industry in the East African nation.

Oil rose as stronger than expected U.S. jobs data eased concerns about an economic slowdown that would crimp demand.

The companies 'expressed interest for over $115 billion of contract value for various partnerships with the Project, including equipment and material supply, services, investment, and customer agreements'.