bp has announced a significant gas and condensate discovery offshore Egypt following the successful drilling of the Denise W-1 exploration well in the Temsah Concession, located in the Eastern Mediterranean. Located approximately 70 kilometres offshore in a water depth of 95 metres, the Denise W discovery...
Shell said it had slashed its gas production for the first quarter of the year after being affected by the conflict in the Middle East. This comes after reporting an 11 per cent drop in fourth-quarter profits.Shell's first-quarter integrated gas production was expected to be...
The UK saved approximately £2.5 billion last year by utilising its own offshore gas reserves instead of importing liquified natural gas (LNG), according to analysis by investment bank Stifel.Stifel anticipates even greater savings this year, primarily due to a more than 50 per cent surge...
The recent surge in global energy prices - amplified by the evolving security situation in the Middle East and its impact on worldwide fuel availability - continues to place significant pressure on logistics and intermodal transportation markets. With approximately 20% of global fuel passing through...
Ecopetrol S.A.announces that its Board of Directors, at a meeting held on April 6, 2026, approved an unpaid leave of absence requested by the Company’s President, Mr. Ricardo Roa Barragán. This unpaid leave of absence was authorized in accordance with Section 3 of Article 23...
Government officials are preparing to engage with global stakeholders at the Invest in African Energy Forum in Paris next month. The country has reported increased upstream activity supported by recent reforms, new project approvals and a shift in asset ownership, according to APO Group. In 2025,...
Subsea 7 S.A. announced the signing of a strategic collaboration agreement between PETRONAS Suriname E&P B.V. (“PETRONAS Suriname”), a subsidiary of PETRONAS and Subsea Integration Alliance (SIA), which comprises Subsea7 and SLB OneSubsea. The agreement creates a long-term framework for close collaboration on field development...
Maraen brings together Port of Nigg, fabrication and energy services to deliver integrated energy infrastructure solutions. Plans for over £30M of investment at one of the UK’s leading deepwater ports have been approved, as three industry-leading North-east Scotland energy businesses unite under a new brand...
Gro* is located in the Norwegian Sea, about 160 kilometres from the Åsta Hansteen field and 350 kilometres west of Sandnessjøen. "Gro has been left untouched in recent years. There's a time-limit on this, because the discovery needs to be tied back to the Åsta...
The U.S. Energy Information Administration published its April Short-Term Energy Outlook this week, examining the implications of the closure of the Strait of Hormuz.• Global oil production. Oil flows through the Strait of Hormuz continue to be limited causing oil storage to fill quickly in...
(Oilandgaspress) Oil crisis caused by Strait of Hormuz closure continues to create serious disruption to energy supplies and prices which is affecting global economies. Oil and Gas BlendsUnitsOil PriceChangeCrude Oil (WTI) OilpriceUSD/bbl$116.00UpCrude Oil (Brent)USD/bbl$110.50UpBonny Light 07/04/26 CBNUSD/bbl$135.11UpDubaiUSD/bbl$128.52--Natural GasUSD/MMBtu$2.85UpMurbanUSD/bbl$118.60UpOPEC basket 06/04/26 OPECUSD/bbl$123.87UpAt press time April 07, 2026 Around...
As agreed during the virtual meeting held by the eight countries with additional voluntary adjustments, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman on 1 March 2026, the OPEC Secretariat received updated compensation plans as per the table below Related...