Petronas has confirmed a hydrocarbon discovery at the Barokah-1 exploration well in the North Ketapang Production Sharing Contract (PSC) offshore East Java, Indonesia.The discovery was made by Petronas through its subsidiary Petronas North Ketapang, which operates the block with a 51% participating interest. Earthon North Ketapang holds a 34% interest, while PT. Pertamina Hulu Energi North Ketapang holds the remaining 15%…
Everllence has secured a contract to supply compressor technology for Thailand’s first carbon capture and storage (CCS) project at the Arthit gas field in the Gulf of Thailand.The company will deliver two RB compressor skids that will support…
A sale of drilling rights in the Gulf of Mexico on Wednesday ended with $46.98 million in high bids from oil and gas companies, with a single bid from BP accounting for nearly half of the total, according to a livestreamed U.S. government auction…
MidOcean Energy, an LNG company backed by U.S. energy-focused private equity firm EIG, has agreed to acquire additional Australian liquefied natural gas project stakes from Japan’s JERA, the companies said on Thursday.The transaction covers JERA’s 0…
Energy and marine consultancy ABL has been contracted to provide marine warranty survey services for marine operations and installation activities on ExxonMobil’s Hammerhead development offshore Guyana.The Hammerhead project is expected to be the seventh development in the Stabroek Block…
G7 energy ministers stopped short of agreeing on a release of strategic oil reserves on Tuesday and instead asked the International Energy Agency to assess the situation before acting.The IEA said it was convening an extraordinary meeting of its member states on Tuesday…
Exxon Mobil has evacuated non-essential employees from its operations in the Middle East, CEO Darren Woods said in an interview on Tuesday, as the U.S.-Israel war on Iran continues.Some operations have been scaled back to manage oil inventory…
The Trump administration's second sale of oil and gas leases in the Gulf of Mexico in three months attracted far less industry interest than the auction it held in December, according to a sale document posted on a government website on Tuesday…
International oil majors Chevron and Shell are closing in on the first big oil production deals with Venezuela since the U.S. capture of President Nicolas Maduro in January, five sources close to the negotiations told Reuters.The deals would…
Oil prices plummeted 7% on Tuesday after soaring to a more than three-year high in the previous session as U.S. President Donald Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to oil supplies…
Saudi Arabia's Aramco, the world's top oil exporter, said on Tuesday there would be 'catastrophic consequences' for the world's oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz.Oil shipments have been largely blocked from traversing through the shipping artery…
2025 was a year of recalibration, continuing the softness experienced since the fourth quarter of 2024. Rather than a slowdown, this period can be better described as a collective deep breath as the industry prepares for the next upcycle in the Asian Pacific region…
Unlike larger jackup regions where scale provides greater flexibility, relatively minor changes in supply can have an outsized impact. The availability, reactivation, or retirement of a single rig can materially shift utilisation levels, dayrate negotiations…
Offshore drilling contractor Borr Drilling has placed three jack-up rigs on standby in the Arabian Gulf following recent hostilities in the region arising from the U.S.-Israel and Iran war.The company has four jack-up rigs deployed in the area…
The dollar surged on Monday as soaring oil prices sent investors scrambling for cash on worries that a protracted Middle East war could severely disrupt energy supplies and hurt global growth.Against the surging greenback, the euro EUR= and sterling GBP= were down roughly 1% in Asia…
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