Industry News

Oil dropped in another choppy session after a surprise buildup in US crude stockpiles undercut the threat to supplies from recent escalations in the Red Sea.

Evolution said there is 'significant upside' associated with approximately 3,700 net acres in the plays with more than 300 gross undeveloped locations.

Petrofac has been awarded a three-year deal from BP for its Greater Tortue Ahmeyim project in Mauritania and Senegal.

'Jobs in the U.S. oilfield experienced a slight decline'.

'Despite the silver lining of increased production, we're very concerned about what the clouds look like ahead if we don't get the policies right now'.

The Biden administration is reevaluating the climate criteria it uses to approve new liquefied natural gas export facilities.

'18 OWA UAVs, two anti-ship cruise missiles, and one anti-ship ballistic missile were shot down'.

'The main area of concentration for the foreseeable future is the Red Sea and the issues and changing threat landscape within that region'.

The two companies plan to jointly explore opportunities relating to long-term ammonia and hydrogen offtake arrangements.

Storegga has a portfolio of carbon capture projects in the UK, the USA, and Norway, including the Acorn CCS project, which is expected to store up to 10 mtpa.

Petrobras filed 142 patent applications at the National Institute of Industrial Property in 2023.

Most of the decrease was due to short-term factors brought about by international crises and an economic slowdown.

Aker BP began construction for the production and wellhead platform of the Valhall field life extension project on the North Sea.

Petronas has received a PSC 20-year extension.

The company has secured a FEED contract for the CCS project Aramis and a service contract for BP's Greater Tortue Ahmeyim project.

Key oil-market gauges are signaling that crude's rebound from its biggest drop in more than a month is reflecting a stronger underlying physical market, bolstering futures' attempt to break out of their recent trading range.

A climate activist group is urging securities regulators to investigate Canada's biggest banks over their green-finance claims.

'This accretive acquisition enhances FET's downhole and artificial lift product portfolio'.

The US Supreme Court refused to consider giving a key procedural boost to the API and other defendants in a suit against the oil industry.

In a new report sent to Rigzone, analysts at Standard Chartered projected that global oil demand growth 'will stay above the longer-term average' in 2024 and 2025.