Equinor, Vår Energi and Petoro will invest around $395 million (NOK 4 billion) in the first discovery tied back to the Johan Castberg field in the Barents Sea.The decision comes eight months after Johan Castberg came on stream. Recoverable oil in the new subsea development is estimated at 46 million barrels, and start-up is planned as early as the fourth quarter of 2028.Johan Castberg is the newest oil production hub on the Norwegian continental shelf (NCS)…
Following receipt of North Sea Transition Authority (NSTA) consent for change of control, Serica Energy has completed the acquisition of Prax Upstream (PUL) from Prax Exploration & Production.Serica has settled the consideration of £14.5 million ($18…
BP, Woodside Energy and Chevron were the top winners on Wednesday at the U.S. government's first sale of oil and gas drilling rights in the Gulf of Mexico since 2023.The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U…
BP, Chevron and Shell were among the top bidders on Wednesday at the U.S. government's first sale of oil and gas drilling rights in the Gulf of Mexico since 2023.The auction, which ended with $279.4 million in high bids, was the first of 30 mandated by U…
Rockhopper Exploration has taken a final investment decision (FID) on Phase 1 of the Sea Lion oil development north of the Falkland Islands, allowing the long-delayed project to proceed after securing financing commitments and regulatory approvals…
The North Sea Transition Authority (NSTA) has opened a carbon storage licensing round offering 14 locations in Scottish and English waters for exploration and appraisal, and with potential to provide future capacity to support industrial decarbonization for the U…
Orbital Marine Power Ltd, operator of the world’s most powerful tidal turbine, has secured a multi-million dollar investment to advance its international commercial projects and contribute to the wider decarbonization of energy.PXN Ventures…
Equinor and its Brazilian subsidiary Rio Energy have started commercial power production at the Serra da Babilônia Solar facility in Brazil. Strategically co-located with the existing Serra da Babilônia Wind, this represents the first hybrid asset in Equinor’s power portfolio…
Seaway7, part of Subsea7, has secured a sizeable contract by Ocean Winds for the work on the BC-Wind offshore wind project in Poland.Seaway7’s scope of work includes the transport and installation of 26 transition pieces and an offshore substation with offshore activity expected to commence in 2027…
Crude oil production in the United States is booming, reports Poten & Partners in its weekly opinion.According to the U.S. Energy Information Administration, U.S. Field Production of Crude Oil reached 13.8 Million barrels per day (Mb/d) in September 2025…
Petrobras and Shell have increased their participation in Brazil’s Atapu and Mero pre-salt reservoirs after securing additional equity in an auction held by Pré-Sal Petróleo (PPSA).The consortium formed by Petrobras (80%), in partnership with Shell Brasil Petróleo (20%)…
The Borkum Riffgrund 3 offshore wind farm, jointly owned by Ørsted and Nuveen Infrastructure, has started delivering power to the German grid.The 913 MW offshore wind farm delivered its first power to the grid on December 3, 2025.The renewable electricity from Borkum Riffgrund 3 will…
Vår Energi has confirmed an oil discovery in the Goliat North exploration well, located close to its operated Goliat field in the Barents Sea. The exploration well located five kilometers north of the Goliat field encountered hydrocarbons in the Realgrunnen and Kobbe formations…
Great British Energy, a state-owned energy company, unveiled a five-year strategic plan on Thursday aimed at accelerating the country’s transition to renewable power to help meet its climate targets.Britain is seeking to largely decarbonize its power sector by 2030…
Chevron said on Wednesday that capital expenditure for 2026 will be between $18 billion and $19 billion as the oil major focuses on production in the U.S. and investments connected to a recently-acquired oil stake in Guyana.The range is at the…
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