Oil edged up on Wednesday after a drop in U.S. crude inventories, and as investors eyed a potential interest rate cut by the U.S. Federal Reserve while weighing its projections for 2025.Brent futures were up 62 cents, or 0.85%, to $73.81 a barrel at 10:40 a…
Oilfield services company TechnipFMC has secured a contract with Shell’s subsidiary, Shell Nigeria Exploration and Production Company Limited (SNEPCo) to supply its Subsea 2.0 production systems for the Bonga North development offshore Nigeria…
U.S.-based oilfield services provider Expro has signed a technology agreement with Petrobras for the development of a new non-intrusive flowmeter for the optimization of production from oil and gas wells.The technology will provide flow rates and identify flow patterns…
Oil futures slipped from the highest levels in several weeks on Monday on weakness in consumer spending in China, which is the world's largest oil importer, and as investors paused buying ahead of the U.S. Federal Reserve's interest rate decision…
Shell said on Thursday its unit has made a final investment decision to add two wells at the Perdido platform in the U.S. Gulf of Mexico to boost production.The Shell unit, which operates the Perdido platform, said the two wells are expected to produce up to 6…
Global energy technology company SLB, through its OneSubsea joint venture, has secured a contract with Petrobras for the delivery of two subsea raw seawater injection (RWI) systems to increase production at the Búzios field, offshore Brazil…
Exxon Mobil said on Wednesday its annual project spending will rise to between $28 billion and $33 billion between 2026 and 2030, with a goal of lifting oil and gas output by 18%.The top U.S. oil producer laid out a five-year plan to expand…
U.S. net crude oil imports are forecast to fall by 20% next year to 1.9 million barrels per day, their lowest since 1971, the Energy Information Administration said on Tuesday, pointing to higher U.S. production and lower refinery demand.The EIA expects the United States to produce 13…
Equinor and its partners Vår Energi and Petoro have postponed the start-up of Johan Castberg field, located in the Norwegian part of the Barents Sea, to January or February 2025 from the initial plan to bring the field on stream by the end of 2024…
Drilling waste management specialist, TWMA, has announced the appointment of Jonathan Parkes as its new Group Commercial Director. This strategic hire comes as the Aberdeen-based company continues to build on a period of rapid international growth and expansion…
Oil prices rose by nearly 2% on Monday on increased geopolitical risk after the fall of Syrian President Bashar al-Assad, and as top importer China flagged its first move towards a loosened monetary policy stance since 2010.Brent crude futures were up $1…
Norwegian oil and gas operator DNO has restarted production at its Trym field in the Norwegian North Sea, which is tied-back to Tyra field’s infrastructure, after five-year shutdown.First commissioned in 2011, Trym is expected to contribute 3…
It was likely a fairly easy decision for OPEC+ to once again delay plans to increase oil output.The soft state of global demand is by itself sufficient reason to justify the decision at this week's meeting of the group to defer winding back some of its production cuts until at least April…
Brazil's state-run oil firm Petrobras PETR4.SA cut $1.1 billion in planned investments in decommissioning oil and gas platforms in its strategic plan for the 2025-2029 period, compared to what was earmarked in its 2024-2028 plan, the company told Reuters…
National Ocean Industries Association (NOIA) President Erik Milito issued the following statement after the Bureau of Ocean Energy Management (BOEM) released the Draft Programmatic Environmental Impact Statement (EIS) for oil and gas leasing…
