Petrobras will exercise its right to purchase Malaysian company Petronas' 50% stake in two offshore fields in Brazil for $450 million, according to a securities filing.Following the deal, Petrobras will hold 100% of the Tartaruga Verde field and Module III of the Espadarte field…
U.S. officials are drafting agreements to pay nearly $1 billion to oil major TotalEnergies as compensation for the cancellation of leases for wind farms in federal waters off New York State and North Carolina, the New York Times reported on Tuesday…
Eni has marked a pair of strategic milestones, advancing its gas position offshore Angola while reinforcing its financial flexibility through a new multi-billion-dollar credit facility.In Angola, the company announced first gas from the Quiluma field…
Eni has made two new gas discoveries in Libya as a result of an exploration campaign initiated in the past months.Two adjacent geological structures, Bahr Essalam South 2 (BESS 2) and Bahr Essalam South 3 (BESS 3), were successfully drilled by the B2-16/4 and C1-16/4 wells…
2025 was a year of recalibration, continuing the softness experienced since the fourth quarter of 2024. Rather than a slowdown, this period can be better described as a collective deep breath as the industry prepares for the next upcycle in the Asian Pacific region…
Unlike larger jackup regions where scale provides greater flexibility, relatively minor changes in supply can have an outsized impact. The availability, reactivation, or retirement of a single rig can materially shift utilisation levels, dayrate negotiations…
Norway's Equinor EQNR.OL and its partners have discovered oil near the Snorre field in the North Sea and plan a 'rapid and cost effective' development of the new reserves, the state-controlled operator said on Monday.Preliminary estimates put the size of the discovery…
Oil surged 9% on Monday after retaliatory Iranian attacks disrupted shipping in the crucial Strait of Hormuz following the weekend's bombing by Israel and the United States that killed Iranian Supreme Leader Ali Khamenei.A sustained jump in prices would threaten a global economic recovery…
Tronics, a TDK group company, has expanded its high-performance MEMS inertial sensor portfolio with the launch of the AXO315®T1, a high-temperature digital accelerometer designed for energy sector drilling applications. The AXO315®T1 MEMS accelerometer…
The Bureau of Ocean Energy Management announced a Proposed Notice of Sale for the third offshore oil and gas lease sale under the One Big Beautiful Bill Act. The proposed lease sale, known as Lease Sale Big Beautiful Gulf 3, or BBG3, is scheduled to take place on Aug…
The premium currently built into the crude oil price over tensions between the United States and Iran fluctuates according to the daily headlines, but there is an underlying assumption that everything will turn out fine.Global benchmark Brent futures LCOc1 jumped 4…
President Donald Trump denounced a clean energy agreement between the United Kingdom and California Governor Gavin Newsom hours after it was signed on Monday, Politico reported.In an interview with the outlet, Trump said it was 'inappropriate' for Britain to be dealing with the Democratic governor…
The Bureau of Ocean Energy Management, today announced another major step toward expanding offshore energy development pursuant to the One Big Beautiful Bill Act. BOEM released the Final Notice of Sale for Lease Sale Big Beautiful Gulf 2 (BBG2)…
'In 2025, India’s oil imports from Russia made up 33% of the country’s total seaborne oil imports and 25% of Russia’s seaborne oil exports. A new trade agreement between the US and India could, according to US President Donald Trump, put an end to that trade…
A U.S. judge on Monday will consider a request from Danish energy company Orsted to block the Trump administration's halt on its Sunrise Wind project off the coast of New York.The preliminary injunction request is the fifth brought by an offshore wind…
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