[1] Flat Outlook for Global Spend … but … Aadvantaged Projects Attract CapitalWith concerns of a softening oil market, we expect global upstream investment to remain flat or even fall – indeed, the reported 2025 budgets to date show a 3-4% drop…
Brazil's Brava Energia has signed an agreement with PetroReconcavo to sell 50% of its natural gas processing infrastructure in the Potiguar basin for $65 million.As part of the partnership agreement with Brava Energia, PetroReconcavo will buy…
Oil prices eased about 1% to a one-week low on Tuesday on demand worries following the release of negative economic news from Germany and China, while investors remained cautious ahead of a U.S. Federal Reserve decision on interest rates.Brent futures fell 90 cents…
Norwegian energy company Equinor has received an offer from the South Korean government for a fixed-price power purchase agreement for a 750-megawatt (MW) floating offshore wind project, the company said on Thursday.'We have received an offer for an offtake contract for our Bandibuli project…
SBM Offshore and ExxonMobil Guyana, an affiliate of ExxonMobil Corporation, have completed the transaction related to the purchase of floating, production, storage and offloading (FPSO) Liza Destiny, deployed at Stabroek Block, offshore Guyana…
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…
Toyo Construction has acquired a trenching ROV from underwater technology and services company SMD, as part of its investment strategy aimed at Japan’s emerging offshore wind sector.The ROV will form part of Toyo’s expanding fleet of assets…
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…
Woodside has signed a revised lump sum turnkey engineering, procurement and construction (EPC) contract with Bechtel for the three train 16.5 million tonnes per annum foundation development of Louisiana LNG.Bechtel has worked on site before Woodside’s $1…
UK-based oil firm Serica Energy has signed an agreement with Parkmead Group to buy its exploration and production assets, expanding its North Sea oil and gas activities.As part of the agreement, Serica Energy will acquire all shares of Parkmead (E&P)…
Marine geosciences and offshore construction support services firm Next Geosolutions has acquired a multi-purpose survey vessel (MPSV) from Beitveit Holding for $7.1 million.The vessel, Sea Admiral, will be renamed NG EXPLORER, and will be used for geophysical…
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…
Oil prices fell 1% on Friday and were headed for a weekly loss as analysts projected a supply surplus next year despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.Brent crude futures were down 85 cents…
Equinor has exercised a three-year option for AKOFS Offshore’s well intervention vessel AKOFS Seafarer.The option period is estimated to start in late fourth quarter of 2025, after the vessel has completed its customary Special Periodic Survey…
Canada-based oil and gas company Valeura Energy has completed an infill drilling campaign at the Jasmine field in the Gulf of Thailand, increasing the production at the field for 26% with five new wells coming onstream.Valeura drilled a five well program…
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