(Oilandgaspress) Sunrise Wind LLC, a wholly owned subsidiary of Ørsted, will file a complaint in the U.S. District Court for the District of Columbia, challenging the lease suspension order issued on December 22, 2025 by the U.S. Department of the Interior’s Bureau of Ocean Energy...
(Oilandgaspress) Corteva Inc. and bp today announced the launch of Etlas, their new 50:50 joint venture that will produce oil from crops – including canola, mustard and sunflower – for use in the production of biofuels like sustainable (or synthetic) aviation fuel (SAF)...
(Oilandgaspress) Aker Solutions expects activity levels to decrease in 2026 compared to 2025.To adapt to the market situation and prepare for the future, Aker Solutions will reduce capacity and headcount in certain areas.“We still see many opportunities both in Norway and internationally, but the anticipated...
(Oilandgaspress) Baker Hughes announced the final closing of its previously announced joint venture with a subsidiary of Cactus, Inc., in which Baker Hughes has contributed its surface pressure control (SPC) product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and...
(Oilandgaspress) Saipem has been awarded a new offshore contract by Turkish Petroleum OTC for additional activities as part of the extension of the third phase of the Sakarya gas field development project in Turkish sector of Black Sea. The value of the contract is approximately...
(Oilandgaspress) XPeng Motors has recently undergone a series of upgrades to its localization strategy in the Middle East and Africa: successfully entering the Qatari market, establishing a strategic partnership with a partner in Mauritius, and simultaneously launching new showrooms and service centers in Abu Dhabi,...
(Oilandgaspress) From January to December 2025, XPeng Motors delivered a total of 429,445 new vehicles, representing a year-on-year increase of 126%. In December 2025, XPeng Motors delivered 37,508 new vehicles, achieving both year-on-year and month-on-month growth. The vehicles delivered by XPeng Motors throughout 2025 are...
(Oilandgaspress) –The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on 4 January 2026, to review global market conditions and outlook. The eight participating countries reaffirmed their...
(Oilandgaspress) Transocean Ltd. announced a contract award and an extension, respectively, for two of its drilling rigs. Together, the fixtures represent approximately $168 million of firm backlog. In Brazil, the Deepwater Mykonos was awarded a contract with bp. The estimated 302-day campaign is expected to begin...
(Oilandgaspress) The Arab Shipbuilding and Repair Yard Company (ASRY) has successfully completed a series of major rig repair and upgrade projects for ADES Holding, reinforcing the strong and growing partnership between the two companies. In 2025, several ADES jack-up rigs underwent major works at ASRY. ADM-501...
(Oilandgaspress) The offshore division of Arab Shipbuilding and Repair Yard (ASRY) in Bahrain is on track to deliver its 200th project milestone in the first quarter of 2026. It will be a landmark achievement for ASRY since its Offshore Division was established in 2011 and reinforces...
(Oilandgaspress) Occidental announced it has completed the sale of its chemical business, OxyChem, to Berkshire Hathaway (NYSE: BRK.A, BRK.B) for $9.7 billion in cash, subject to customary purchase price adjustments. As previously disclosed, an Occidental subsidiary, Environmental Resource Holdings, LLC (ERH), has retained OxyChem’s legacy tort...