Akrake Petroleum Benin, an indirect subsidiary of Rex International Holding, has achieved first oil from the AK-2H well at the Sèmè Field Block 1 offshore Benin, as drilling complications and cost overruns prompt a strategic and financial review.Lime Petroleum, the parent company of Akrake Petroleum Benin, said the production from the AK-2H well is expected to begin within the next two weeks after the first oil was achieved earlier in February…
India’s Adani Ports will deepen its European footprint by building offshore capabilities with U.S. engineering firm Oceaneering International committing $1.36 billion in capital spending through fiscal year 2031.The country's largest private…
Equinor is extending key supplier agreements with a combined value of around NOK 17 billion ($1.8 billion). Baker Hughes Norge, Halliburton and SLB Norge have been awarded the contracts for integrated drilling and well services to help maintain production from the Norwegian continental shelf…
Oil prices jumped on Wednesday with Brent trading above $100 a barrel, erasing earlier losses following reports of gunfire attacks on at least three container ships in the Strait of Hormuz.Brent crude futures LCOc1 were up $1.59, or 1.6%, at $100…
The Philippines' Secretary of Energy Sharon Garin on Tuesday said the country has asked the United States to extend a waiver to purchase Russian oil and petroleum products.Garin said the government is optimistic about extending the waiver which expired on April 11…
OneSubsea, a joint venture backed by SLB, Aker Solutions and Subsea7, has secured a contract by Beacon Offshore Energy to supply a subsea boosting system for the Shenandoah field in the Gulf of America.The contract covers delivery of a high‑pressure…
Crude oil exports from Saudi Arabia's Red Sea Yanbu port rose to nearly 4 million barrels per day last week, a sharp increase from export levels before the Iran war broke out, shipping data shows.The jump shows that Saudi Aramco, the world's biggest oil exporter…
SLB has announced that its OneSubsea™ joint venture has been awarded a multi-well, integrated engineering, production, and construction (EPC) contract by China National Offshore Oil Corporation (CNOOC).The contract encompasses 20 wells and covers…
Kent has been selected by EnEarth, to perform the front end engineering design (FEED) for the Prinos CO₂ Storage Project in Northern Greece.Kent will develop the FEED design for the new CO₂ handling and storage facility, which will receive, store…
The Trump administration on Friday directed Sable Offshore to restore oil drilling operations off the southern California coast, the U.S. Energy Department said.The move aims to restart oil production at a cluster of offshore platforms as fuel prices continue to rise in the wake of the war on Iran…
China set an annual oil output target of 200 million metric tons (4 million barrels per day) in its next five-year plan on Thursday, a level it already surpassed last year, as the country also pledged to expand the size of its undisclosed strategic oil reserves…
OneSubsea, a joint venture between SLB, Aker Solutions, and Subsea7, has been awarded an engineering, procurement and construction (EPC) contract by Equinor to upgrade the subsea compression system at the Gullfaks field in the Norwegian North Sea…
ConocoPhillips Skandinavia and its partners have submitted two Plans for Development and Operation (PDOs) to Norway’s Ministry of Energy for a combined redevelopment of the Albuskjell, Vest Ekofisk and Tommeliten Gamma fields in the Greater Ekofisk Area of the North Sea…
Energy services firm EnerMech has secured a subsea pre-commissioning services contract by Saipem for the Whiptail development, offshore Guyana in the Stabroek Block, operated by ExxonMobil Guyana.The contract award marks EnerMech’s first project…
U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes them to boost output in Venezuela - a move that would weaken the oil market, cut revenues and hurt industry at home.Trump has…
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