French oil company Maurel & Prom (M&P) has confirmed a natural gas discovery in Tanzania's Mnazi Bay license, with preliminary estimates indicating approximately 200 billion cubic feet (bcf) of gas in a reservoir reached by drilling from onshore to a target 4.5 kilometers offshore.The Kasa-1X exploration well, drilled in collaboration with Tanzania Petroleum Development Corporation (TPDC), encountered a gas reservoir with encouraging characteristics…
Carbon capture and storage (CCS) is moving from a collection of demonstration projects toward a new infrastructure business. As of July 2025, 734 commercial CCS facilities were in operation or development, up from 628 a year earlier, while…
Baker Hughes reported a fall in third-quarter profit on Tuesday, as prolonged conflict in the Middle East hit demand for services and equipment in the key oil-producing region.Repeated flare-ups in the Middle East conflict, now in its eighth month…
Dolphin Drilling has agreed to sell its Blackford Dolphin semi-submersible drilling rig to SPM Energy Shipping for up to $25 million and entered into a preliminary agreement for the management of future drilling contracts involving the rig and at least one additional semi-submersible unit…
Ocean Power Technologies (OPT) and Stratum Holdings have signed a non-binding letter of intent (LOI) to explore the development of offshore data center assets powered by wave, wind and solar energy, combining renewable power platforms with high-performance computing infrastructure…
The Chouest Group and the founders of Horizon Maritime Services have announced a strategic partnership that includes the acquisition of the Canadian offshore and marine services company from CFFI and its lender, HPS.The transaction expands the Louisiana-based Chouest Group's presence in Canada…
SLB beat Wall Street estimates for third-quarter profit on Friday, supported by strong North American oilfield activity, while signaling recovery in parts of the Middle East following conflict-related disruptions.Repeated flare-ups in the US-Iran conflict…
XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), is in talks with Eni about potentially buying a stake in the Italian company's oil and gas business in Libya, two people familiar with the matter said.Negotiations…
Norwegian offshore vessel owner DOF Group has secured a subsea installation contract in Africa, with its Skandi Acergy construction support vessel (CSV) scheduled to undertake the offshore campaign in early 2027.The contract, valued at between $15 million and $25 million…
Oil prices rallied over $2 a barrel on Thursday after more Houthi attacks in Saudi Arabia stoked concerns over a broader escalation of conflict and further disruptions to crude supplies from the world's key exporting region.Brent crude futures LCOc1 climbed$2…
Chevron is exploring the sale of some of its older oil and gas assets in the US Gulf, the company confirmed to Reuters, part of an effort to focus on high-growth developments in the region.The energy producer is in the early stages of a multi…
TechnipFMC and BP have signed a memorandum of understanding (MoU) to explore cooperation on the supply of high-pressure subsea production systems for BP's Paleogene oil developments in the U.S. Gulf.The agreement, announced on October 20, establishes…
Oilfield service companies including Weatherford International, Baker Hughes, Halliburton and SLB are advertising dozens of jobs in Venezuela, according to company websites, an early sign that a Washington-backed plan to rebuild the country's energy industry is gaining traction…
ACCIONA has been selected as development partner for a transmission network designed to connect up to 2 GW of offshore wind capacity to the electricity grid in Australia's Victoria state.Under a concession agreement, ACCIONA will be responsible for developing…
Oil markets initially treated the Iran war as a brief bullish disruption in a long-term bearish trend. But traders are now betting that oil prices will remain elevated through 2028, forcing a rethink of the global inflation outlook.Eight months into the war…
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