Borr Drilling has agreed to sell its 51% stake in two Mexican joint ventures to its local partner, while retaining ownership of three jack-up rigs working for Pemex and continuing to participate in their underlying contracts through bareboat charters.The definitive agreements cover Borr's interests in Perforaciones Estratégicas e Integrales Mexicana and Perforaciones Estratégicas e Integrales Mexicana II…
Commodity vessel transits through the Strait of Hormuz dwindled to just three ships on Wednesday, down from 12 a day earlier and well below the 10-day average of about 17, preliminary ship-tracking data showed on Thursday.The figures exclude…
Global LNG prices could shoot higher this winter as Europe holds its lowest stocks in years and North Asian buyers face increased competition with the Strait of Hormuz still closed, executives said at an industry conference this week.Europe…
Oil prices settled $3 higher on Tuesday after shipping industry sources said crude loadings at Saudi Arabia's Red Sea export hub of Yanbu had been suspended and Riyadh had canceled some cargo deliveries to European customers, deepening concerns…
China dipped into its massive crude oil stockpile in August for the third month in the past four as increased refinery processing exceeded a modest increase in oil imports.Refineries processed about 640,000 barrels per day (bpd) more than what…
Santos has agreed key commercial terms for a 10-year LNG supply deal with POSCO Steel and separately signed a non-binding agreement to buy about 1 million tonnes per annum of LNG from Canada's proposed Ksi Lisims project for up to 20 years.Under the proposed POSCO agreement…
RWE and Masdar plan to explore joint bids in Germany's 2027 offshore wind auctions under a cooperation agreement with an indicative investment value of more than $3.47 billion (€3 billion), while RWE separately advanced talks with ADNOC over potential long-term LNG supplies…
Petronas and PTTEP subsidiaries have received approvals from the governments of Malaysia and Thailand for a new 35-year production sharing contract covering Block A-18-01 in the Malaysia-Thailand Joint Development Area (MTJDA).PC JDA Limited…
Saudi Arabia has shut down its East-West pipeline, after the vital oil conduit came under aerial attack in the widening Middle East war, threatening to send energy prices even higher.The world’s largest crude oil exporter said it temporarily…
The Greater Sunrise natural gas project has pushed back its earliest possible production start by two years to 2034, East Timor's petroleum minister said, tightening a timeline already plagued by decades of delays.Production at the multi-billion dollar gas field…
Global oil supply and demand will fall further than previously thought this year, the International Energy Agency said on Friday, as a lack of progress in ending the Iran war delays the return of normal Middle East flows into 2027 and sends fuel prices soaring…
Asia's crude oil industry has a good idea of how to end the current crisis created by the Iran conflict. But they also know their wish is unlikely to be granted and they are hunkering down for an extended disruption to supplies from the Middle East…
Petronas has awarded a production sharing contract for Malaysia's Estuary Cluster to Harvester Energy and handed over enhanced seismic data for the Mutiara Cluster to DIALOG Resources, advancing development of discovered oil and gas resources in two Malaysian basins…
ExxonMobil has made a new hydrocarbon discovery at the Vicango East-01 exploration well in Angola’s offshore Block 15, marking the third discovery in the prolific block in the past four years.The well encountered about 25 metres (82 feet) of high-quality…
The American Bureau of Shipping (ABS) has issued basic design review certification to Hanwha Ocean for a standardized floating production, storage and offloading (FPSO) design targeting deepwater projects in South America and West Africa.The…
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