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Latest news - International

China delivers heaviest offshore oil and gas platform for Saudi deployment

China delivers heaviest offshore oil and gas platform for Saudi deployment China Offshore Oil Engineering has been officially delivered one of the world’s largest oil and gas platform from its yard in Qingdao.   The Marjan oil and gas collection and transportation platform is seen as breakthrough of construction technology of large-scale offshore oil and gas platform for the Chinese builders, weighing more than 17,200 tons, making it one of the world's largest. The pla...

Suriname to invest big in first offshore oil project

Suriname to invest big in first offshore oil project   The state-owned energy, oil and gas company, Staatsolie, says it plans to invest US$1.8 billion in its first offshore oil project, with the possibility of taking up a 20 per cent stake in the block. In its 2023 annual report, Staatsolie said it fully intends to take up “our option for a stake of up to 20 per cent in this groundbreaking project, which at current investment levels will entail an investment of approximately...

TotalEnergies Announces First Oil from Anchor Field in Gulf of Mexico

TotalEnergies Announces First Oil from Anchor Field in Gulf of Mexico   TotalEnergies has announced the start of production from the Anchor field, located 225 km offshore Louisiana in the US Gulf of Mexico. The Anchor field, developed in December 2019, is a partnership between TotalEnergies holding 37.14% interest and Chevron holding the remaining 62.86% interest as an operator. The field consists of a system of subsea wells connected to a semi-submersible floating production un...

Oil tests support that could snap rally ahead of API numbers

Oil tests support that could snap rally ahead of API numbers   Oil price reverses in US trading session after soft PPI numbers. Traders sent crude prices up near 3% on Monday even as the OPEC report cut the demand outlook. The US Dollar Index trades at the pivotal 103.18 level after being glued to it since last week. Oil snaps its winning streak and dips lower after very soft US Producer Price Index numbers could mean sluggish demand ahead. Meanwhile, the International Ene...

Shell Announces Phase 2 Development of Surat Gas Project in Australia

Shell Announces Phase 2 Development of Surat Gas Project in Australia   Shell has announced its plan to develop Phase 2 of Surat Gas Project (SGP) in Queensland, Australia alongside its partner Petrochina through their 50/50 incorporated joint venture, Arrow Energy. The gas from the project will flow to the Shell-operated QCLNG liquefied natural gas (LNG) facility on Curtis Island, near Gladstone, to meet long-term contracts and supply domestic customers. QCLNG is a Shell-operat...

Talks underway with potential partner to sign up for exploitation of oil prospect offshore Namibia

Talks underway with potential partner to sign up for exploitation of oil prospect offshore Namibia   Global Petroleum, an AIM-listed oil and gas upstream exploration company presently focused on Africa and the Mediterranean, has engaged in discussions to secure a farm-in agreement with an undisclosed potential operating partner for its petroleum exploration license (PEL) 94 in Block 2011A in the Walvis Basin, off the coast of Namibia. With the rise in planned offshore exploration a...

Shell, PetroChina to expand Surat coal seam gas project in Australia

Shell, PetroChina to expand Surat coal seam gas project in Australia   Shell and PetroChina have decided to expand the Surat coal seam gas project (SGP) in Queensland, the British oil and gas giant said on Monday, amid calls for more investment to boost local energy supply. The decision comes at a time when industry executives have been pushing for government measures to bring back investments put off by a slew of state interventions to curb energy prices and boost domestic supply....

Petrobras Posts a Loss in Q2

Petrobras Posts a Loss in Q2   Brazil’s state oil major Petrobras swung to a net loss in the second quarter, attributing it to unfavorable exchange rates and a one-off tax charge. The net result came in at some $470 million but excluding the tax charge, Petrobras said, it would have posted a net profit of $5.4 billion. The company, however, presented the tax charge in a positive light. “The main events were the exchange rate variation for the period - an effect betwe...

Harbour Energy Reports Turnaround Profit in H1 of 2024, Adjusts FY Production Guidance

Harbour Energy Reports Turnaround Profit in H1 of 2024, Adjusts FY Production Guidance   Harbour Energy has released its half-year results for the six months ended 30 June 2024, recording total revenue and other income to $1,916 million, down from $2,016 million in the same period in 2023. This decrease was driven by lower production volumes, partially offset by higher commodity prices. The company, meanwhile, reported a profit after taxation of $57 million, an improvement from a l...

ReconAfrica’s exploration efforts onshore Namibia affirm broader African oil and gas development plans

ReconAfrica’s exploration efforts onshore Namibia affirm broader African oil and gas development plans   In July, Canadian independent Reconnaissance Energy Africa (ReconAfrica) spud the Naingopo-1 exploration well in the Damara Fold Belt in Namibia’s Kavango basin. ReconAfrica is renowned for its exploration activities in the Kavango basin in Namibia and Botswana, where it is currently targeting multiple oil and natural gas reservoirs. In partnership with the National...

Net Zero Mining Boom Fuels Destruction of Rainforests and Coral Reefs

Net Zero Mining Boom Fuels Destruction of Rainforests and Coral Reefs   Swathes of rainforest and coral reefs are being destroyed by a nickel mining boom in Indonesia sparked by the Net Zero race to transition away from fossil fuels. The Telegraph has more.   Across the country, a major drive to exploit the country’s abundant natural resources is underway. The photograph [above] captures the sheer scale of the production process. Rows of chi...

Motive responds to Americas market demand with $10M revenue growth goal

Motive responds to Americas market demand with $10M revenue growth goal The company announces new hire and revenue targets as it doubles down on transatlantic growth   Motive Offshore Group (Motive), which specializes in engineering, inspection and rental equipment for the energy sector, has appointed Jonathan Watt as Americas Regional Manager in response to rising market demand. As part of its global growth strategy, the company expects the Americas region to turnover $10M in the...

Petrobras Confirms Gas Discovery In Colombia

Petrobras Confirms Gas Discovery In Colombia   Petrobras, following up on the release disclosed on 07/29/2022, informs that it has achieved the main target of the Uchuva-2 well, confirming the extent of the gas Discovery made in 2022 with the drilling of the Uchuva-1 well. This well adds relevant information for the development of a new frontier of exploration and production in Colombia, reinforcing the volumetric potential for gas in the region. Uchuva-2 well, spudded on 06/19/202...

ConocoPhillips Earnings Inch Up as Production Rises

ConocoPhillips Earnings Inch Up as Production Rises   ConocoPhillips reported second-quarter 2024 earnings of $2.3 billion, surpassing the second-quarter 2023 earnings of $2.2 billion. The company said in a media release that production for the second quarter of 2024 was four percent higher than the same period a year ago. “In the second quarter, we continued to deliver on our returns-focused value proposition, achieving record production and advancing our global LNG strat...

Kent Secures 3 -Year Global Commissioning Services Contract with Shell

Kent Secures 3 -Year Global Commissioning Services Contract with Shell   The Hague, Netherlands, 5 August 2024 - Kent, a leading engineering and services company, is pleased to announce it has been awarded a global three-year enterprise framework agreement (EFA) by Shell to provide Commissioning and Start-Up Services (CSU) across various onshore and offshore projects. This contract encompasses a wide range of energy sectors, including oil, gas, and new energy initiatives, and reinforc...

Billionaire former Glencore oil trader charged with corruption in West Africa

Billionaire former Glencore oil trader charged with corruption in West Africa Alex Beard and four other executives charged with conspiring to make corrupt payments in long-running SFO investigation   The UK’s Serious Fraud Office has charged Glencore’s billionaire former head of oil trading with conspiring to make corrupt payments to benefit the commodities company’s oil operations in West Africa. Alex Beard, who ran Glencore’s oil division from 2007 unti...

Aramco suspends two more Valaris jackups

Aramco suspends two more Valaris jackups   Valaris has seen two more of its jackup rigs suspended in Saudi Arabia, after Aramco’s initial move to cut more than 20 units across eight contractors earlier this year. The New York-listed offshore driller said in its fleet update it had received suspension notices in late July for Valaris 147 and Valaris 148, which are under bareboat charter to its Saudi joint venture ARO Drilling. The first unit, the Valaris 143 got suspended i...

bp gives go-ahead for sixth operated hub, Kaskida, in the US Gulf of Mexico

bp gives go-ahead for sixth operated hub, Kaskida, in the US Gulf of Mexico   Strategic growth project represents bp’s ongoing commitment to invest in this prolific high-margin basin, an important element of growing the value of bp New platform expected to have nameplate production capacity of 80,000 barrels of oil per day Hub to leverage simplified, standardized and cost-efficient design, planned to be replicated in future projects Unlocks potential for development of...

Shell profits hit $14bn amid shift back to oil and gas

Shell profits hit $14bn amid shift back to oil and gas   Shell profits hit $14bn (£10.9bn )in the first half of the year as the energy giant accelerated its shift away from renewables back to oil and gas. The FTSE 100 listed company announced a better than expected $6.3bn (£4.9bn) of adjusted earnings during the second quarter of the year. It also announced it was extending its share buyback plan of $3.5bn over the next three months. Half year and second quar...

GA Drilling partners with Petrobras for geothermal deep drilling

GA Drilling partners with Petrobras for geothermal deep drilling   GA Drilling, a pioneer in drilling innovations, has entered into a technical co-operation programme with Petrobras, one of the largest energy companies in the world. In co-operation with Cenpes, Petrobras’ research, development, and innovation centre, the partnership aims to revolutionise the industry by bringing a next-generation downhole drilling system to fruition, significantly reducing well construction cost...
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