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Forum of oil and gas operators reports early success in tackling subsea challenges

An influential forum of oil and gas operators with a vested interest in subsea operations is tackling the challenges of ageing offshore infrastructure through cross-industry collaboration. Early reports, since the forum was established […]

J.P. Morgan sees Brent oil price averaging $73 a barrel in 2025

“Our view on 2025 has remained largely unchanged over the past year: we look for a large 1.3 mbd (million barrels per day)surplus and an average Brent of $73,” the note said. The bank sees […]

Russia’s Novak says oil market balanced thanks to OPEC+

OPEC+ countries, which are pumping around half the world’s oil, are taking all necessary decisions to maintain market stability, Novak also said after meeting OPEC Secretary General Haitham Al Ghais in Moscow. “Today, while discussing […]

DeepOcean wins landmark 8-year Equinor contract for subsea IMR work

Ocean services provider DeepOcean has been awarded its largest contract on record, a long-term subsea inspection, maintenance and repair (IMR) contract by Equinor. The eight-year contract will set a new benchmark for digitalized and environmentally […]

Saudi Aramco to take on more debt, focus on dividend growth, Bloomberg News reports

“You’ll see us do a couple of things. One is, just take on more debt compared to use of equity. It’s nothing to do with the dividend, it is optimising our capital structure so that […]

Energy Maritime Associates expects $126 billion investment in new Floating Production Units

From 2025-2029, Energy Maritime Associates (EMA) expects orders for 119 Floating Production Systems, with a Capital cost of $126 Billion, in its mid-case forecast. Over 70% of this investment would go towards the 54 FPSOs. […]

MOL Group signs exploration agreement with Kazakhstani national oil company, KazMunayGas

MOL Group and Kazakhstani national oil company KazMunayGas (KMG) have signed today a cooperation agreement to jointly explore opportunities in the oil, gas and petrochemical sector. This agreement builds on the successful joint venture in […]

NNPC exports five cargoes of Utapate crude, 2 cargoes set for sale before year-end

*The Managing Director of NNPC E& P Limited, Mr. Nicholas Foucart (right), formerly unveiling Utapate crude grade to European crude oil marketers at the Argus European Crude Conference in London, United Kingdom on Wednesday Mkpoikana […]

NNPCL/First E&P JV targets 100,000bpd oil output from OML 83/85

*Sen. Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil) touring Abigail Joseph FPSO in Anyala field, First E&P operated OML83/85. Mkpoikana Udoma Port Harcourt — The NNPCL-First E&P Joint Venture, operating the Abigail […]

NNPCL/First E&P JV targets 100,000bpd oil output from OML 83/85

*Sen. Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil) touring Abigail Joseph FPSO in Anyala field, First E&P operated OML83/85. Mkpoikana Udoma Port Harcourt — The NNPCL-First E&P Joint Venture, operating the Abigail […]