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Guyana's tax agency will begin dispute resolution with Exxon regarding expenses
The Natural Resources Ministry of Guyana has instructed the country's Tax Agency to start a dispute resolution process with Exxon Mobil regarding the recovery from the U.S. Oil Major, about $214 million worth of expenses. Exxon's expenses as part of operations on the Stabroek block…
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Israeli Firm Gets Final Permit for US Wave Energy Demo
Eco Wave Power, an onshore wave energy technology company, has received a final permit for the construction and demonstration of its wave energy technology in San Pedro, California.The Revocable Permit 25-05 by the Port of Los Angeles was executed on behalf of the Executive Director, Eugene D.
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Global Wind Capacity in 2024 Falls Short Despite Reaching a Record
A record 117 gigawatts of wind power capacity was installed worldwide last year, slightly more than in 2023, but far less than needed to achieve goals to decarbonise energy, a report by the Global Wind Energy Council said on Wednesday.WHY IT'S IMPORTANTThe world needs to shift to renewable sources…
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Britain Emphasizes Collaboration on Energy Security at Global Summit
Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries…
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TotalEnergies Seeks $16B Permit For Green Hydrogen Project in Chile
Subsidiaries of energy major TotalEnergies have applied for an environmental permit for a $16 billion green hydrogen and ammonia project in southern Chile, a regulatory filing showed on Monday.The project, run by the Chilean subsidiary TEC H2 MAG, is expected to begin operations in 2030 and includes a wind farm, seven electrolysis centers for green
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Texas Pacific Land misses its core profit forecast for the first quarter due to lower oil prices
Texas Pacific Land, a land and royalty company focused on the Permian region, missed Wall Street's expectations for its first…
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Agency says there are undiscovered oil and natural gas reserves in the US Gulf Coast.
The U.S. Geological Survey released a report on Wednesday that outlined the potential for undiscovered oil in two formations beneath much of the U.S.
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Ancap will launch a natural hydrogen bid round in Uruguay by the end of this year, say executives
Ancap, the state-run energy company in Uruguay, plans to start a bid round by the end this year for the exploration and development…
Latest news
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Ecopetrol, Colombia's oil company, plans to cut costs as the price of crude drops
Ecopetrol, Colombia's state-owned oil company, plans to reduce costs by 232 million pesos (about 1 trillion pesos) and show…
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Harbour Energy will cut its UK workforce by 25 percent, the company claims
In a Wednesday statement, Harbour Energy announced that it would be cutting 250 jobs at its UK-based unit in Aberdeen. This…
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Romania: OMV Petrom signs a three-year gas supply contract with Moldova
Romanian oil-and-gas group OMV Petrom signed a contract for three years to deliver gas to Moldova from the Black Sea offshore Neptun Deep project…
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Aker BP will raise dividends as long as oil remains above $40 per barrel
Aker BP will increase its dividend annually by 5% if North Sea oil prices remain above $40 per barrel. The company announced this on Wednesday…
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Exxon to invest $1.5 billion in Nigerian oilfield
ExxonMobil, the world's largest oil company, will invest $1.5 billion in the development of deepwater operations for Nigerian oil companies.
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Ecopetrol Colombia reports a 22% drop in profit for the first quarter
Ecopetrol, Colombia's largest state-owned oil company, reported a 22% drop in net profits for the first quarter. The amount…
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Norway Parliament orders restart of frontier oil and Gas Exploration Licensing
The Norwegian Parliament on Tuesday directed the Labour Minority Government to launch a round of new oil and gas exploration…
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Mexico's Pemex increased crude exports to Cuba in 2024 according to filings
According to a filing by the company, Pemex, the Mexican state oil company, increased crude shipments to Cuba last year by…
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Exxon's Guyana oil production rose to 668,000 barrels per day last week
Alistair Routledge of the U.S. After receiving the floating production facility in Guyana waters in February, the group is…
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Argentina expects an $8 billion surplus in the energy trade balance for this year
Federico Valler said that Argentina is expecting an $8 billion surplus this year in its energy trade, up from a $5.7 million surplus last year.
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Kremlin: Oil price is important for Russia but the national interest comes first
Dmitry Peskov, Kremlin spokesperson, said that oil prices are crucial to the Russian budget and economy. However, Russian…
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Woodside targets a further 20%-30% saledown of the $17.5 billion Louisiana LNG Project
Woodside Energy is Australia's largest natural gas producer. It said Tuesday that it will seek to sell an additional 20%-30% stake of Louisiana LNG.
Exploration
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Malaysian PM: Petronas will adhere to contractual commitments
Anwar Ibrahim, Prime Minister of Malaysia, said that Petroliam Nasional Berhad, the state-owned energy company, will continue…
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Lavrov and Rubio discuss removal of 'barriers,' set up by the previous U.S. Administration, Russia claims
In a Saturday phone call, Russian Foreign Minister Sergei Lavrov spoke with U.S. State Secretary Marco Rubio about the situation…
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Cyprus and Chevron led group agree on updated offshore field plan
Cyprus and the Chevron-led group have reached an agreement on a new development plan for an offshore gas field near Cyprus.
Drilling
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Italy's Saipem and Norway's Subsea 7, to create a leader in energy services
Saipem, an Italian company, has agreed to merge its Norwegian competitor Subsea 7 into a global leader in offshore energy services.
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BP abandons renewables targets and returns focus to fossil fuels
BP's CEO will abandon a goal to double renewable energy generation by 2030 and return the focus to fossil energies as part…
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German antitrust watchdog flags price issues in the oil market
The German antitrust authority said on Wednesday that an examination of Germany's oil markets showed pricing issues. It called…
Production
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Equinor Norway LNG plant will be off-line March 10-14
According to a Friday regulatory filing, Equinor will shut down its Hammerfest LNG Terminal from March 10 through March 14…
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ExxonMobil’s Esso, Mitsui and Woodside to Invest $200M in Gas Project Off Australia
ExxonMobil’s Australian subsidiary Esso Australia Resources and its partners have announced a nearly $200 million investment…
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Exxon to build large-scale gas projects in Guyana, a country dominated by oil
Exxon Mobil, the U.S. oil giant, announced a massive project on Wednesday to increase natural-gas production and supply in Guyana.
