Oil prices fell to a two-week low on Tuesday as prospects for Gulf supplies improved, with Iran signaling it could reopen the Strait of Hormuz within seven days and Saudi Arabia set to resume exports from its Red Sea port of Yanbu.The Brent crude futures LCOc1 November contract was down $2…
Petrobras, Shell and Strohm have completed a qualification and offshore field trial program for a thermoplastic composite pipe flowline designed for high-CO2 conditions in Brazil's deepwater pre-salt, clearing the way for a Petrobras pilot installation planned for early 2027…
Oil and Natural Gas Corporation (ONGC) has struck gas at a deepwater exploration well in India's Mahanadi Offshore Basin, with the well flowing gas at encouraging rates and reservoir pressure.The MN-DW18-1-H-D well, about 43 km off Konark on the Odisha coast…
Thai’s state oil firm PTTEP and Valeura Energy have taken a final investment decision on the first phase of the Bussabong gas development in the Gulf of Thailand, targeting first production around the end of 2028 from a 25-well development.Bussabong lies in the eastern part of Block G3/65…
Brazilian state-run oil company Petrobras' analysis of oil discovered at the Morpho exploration well in the offshore Foz do Amazonas basin showed it to be 'very high quality' crude, an executive told Reuters on Monday.The crude found at the…
Namibia has selected TotalEnergies bidding group to supply the country's bulk diesel and petrol needs for a three-month period from November to January, energy minister Modestus Amutse said late on Monday.The Southern African country earlier…
Bounty Oil & Gas has agreed to acquire PetroQuest Liberia Deep Water, giving it a pathway to an interest in deepwater Block LB-32 offshore Liberia, while raising about $2.5 million (A$3.55 million) to advance the acquisition and exploration work…
The European Union will maintain its opposition to new oil and gas drilling in the Arctic, a European Commission spokesperson said on Monday, despite Norwegian pressure to drop the EU ban.The EU currently supports a ban on new drilling in the Arctic…
Halliburton has signed separate memorandums of understanding (MoU) with Eneva and WESCA to pursue oil and gas development opportunities in Venezuela, including field evaluation and development planning.Under its agreement with Eneva, Halliburton…
QatarEnergy expects the first train of its North Field East (NFE) liquefied natural gas expansion project to start production in the first half of 2027, but additional trains will depend on the Strait of Hormuz crisis.Disruptions caused by the…
A new shuttling system is reshaping the Middle East oil market, as producers seek to keep exports flowing despite the escalating regional conflict. The question now is whether this complex, expensive process is a stopgap measure or the global energy market’s new normal…
French energy company TotalEnergies and its partners in the $12 billion GranMorgu offshore oil and gas project in Suriname are on track to inaugurate output in mid-2028, the head of state-run Staatsolie, Annand Jagesar, said on Saturday during a tour to oversee the development's progress…
A total of 17 commodity vessels transited the Strait of Hormuz on the weekend, down from 37 a week earlier, shipping data showed on Monday, as tension in the Gulf persisted with the US and Iran in stalemate.Visible traffic through the strait…
Exmar has received Approval in Principle (AiP) from Bureau Veritas Marine & Offshore for a concept to convert an existing membrane-type LNG carrier into a floating liquefied natural gas (FLNG) unit for offshore gas developments.The FLNG concept…
Transocean has been awarded a two-well contract for its Deepwater Conqueror ultra-deepwater drillship in Equatorial Guinea, adding about $80 million to the offshore driller's backlog.The approximately 170-day campaign with an undisclosed operator is expected to begin in 2027…