Industry News
Large oil surplus looms in new year thanks to spare OPEC+ capacity
The global oil market is facing a substantial surplus moving into the next year, says International Energy Agency.
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Company News
Northern Ocean to equip rigs with Kinetic Pressure Control’s K-BOS system
Northern Ocean Limited (NOL) signed a “LOI” with Kinetic Pressure Control to enhance its 6th generation semi-submersible rigs.
Company News
Chevron boosts oil and gas production in New Mexico’s Permian Basin
Chevron is intensifying its oil and gas production in the Permian Basin, a region renowned for its prolific oil and gas reserves.
Company News
TotalEnergies anticipates decline in Q3 earnings due to low refining margins
TotalEnergies is anticipating a significant decline in its Q3 earnings, primarily due to a substantial decrease in refining margins.
Analyst Comment
Robotics adoption increasing in oil and gas to ease HS&E concerns
Robotics is the branch of technology that deals with the design, construction, operation, and application of robots.
Contract News
JAPEX, Idemitsu and HEPCO collaborate on CCS projects in Tomakomai, Japan
JAPEX, Idemitsu, and HEPCO have partnered with JOGMEC for an advanced carbon capture and storage (CCS) project in Tomakomai.
Industry News
Congo cancels auction of 27 oil exploration sites citing insufficient competition
Congo’s government has announced the cancellation of an auction for 27 sites that were designated for oil exploration.
Industry News
Norwegian court rules against environmental injunction on oil and gas fields
The court decision overturns temporary injunctions against the development of the Yggdrasil, Tyrving, and Breidablikk fields.
Industry News
Red Sea oil tanker traffic has dropped by 50% this year, says EIA
Crude oil flowing through the Bab el-Mandeb in the Red Sea has decreased by more than 50% in the first eight months of 2024 says EIA.
Company News
Baker Hughes and Repsol collaborate on AI-driven oilfield technology
Baker Hughes Repsol collaboration utilises AI through Leucipa to enhance oil recovery and reduce emissions.