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Germany’s Offshore Wind Sector Stalls

OilPrice

Germany’s offshore wind power installations stagnated in the first half of 2025, with 9.2 gigawatts (GW) as of June 30, the same as at end-2024, German industry associations said, calling for major changes in tender terms and pricing to revive the stalled sector. Still, offshore wind turbines with a total capacity of 1.9

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BP-Eni JV makes major gas discovery offshore Angola

Oil & Gas 360º

(Oil Price) – Azule Energy, a joint venture of international majors BP and Eni, has discovered a major natural gas reservoir offshore Angola in the first gas-targeting exploration well in the oil-producing country. The country aims to boost its current oil production of about 1.1

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Offshore Wind Growth Drives Revenue for OEG Energy Group

OilPrice

for 2024, having posted a pre-tax loss of $14.9m A UK energy services giant returned to profit and created hundreds of jobs in the year before being acquired in a deal which valued it at more than $1bn (£737m). OEG Energy Group, which is headquartered in Aberdeen, has reported a pre-tax profit of $4.4m to $537.3m

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Nigeria’s GEIL exports first crude from new onshore terminal

Oil & Gas 360º

As the country strives to produce two million bpd, projects of this nature will support new investments by providing a direct route from offshore fields to market.” The company broke ground on the construction of the facility in February 2023, with the development of storage facilities and the associated pipeline advancing in February 2024.

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U.S. onshore oil production soars to record highs

Oil & Gas 360º

million barrels per day (bpd ) in 2024, according to the EIA and the Department of the Interior. Federal offshore oil, by contrast, hasn’t kept pace. million bpd in 2024—slightly ahead of federal onshore levels, but with far more sluggish growth. trillion cubic feet (Tcf) of natural gas in 2024, up from 3.2 The driver?

Oil
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Chevron wins Exxon case but loses time, oil and billions

Oil & Gas 360º

The offshore oilfield holds more than 11 billion barrels of oil and is one of the fastest-growing oil production regions in the world. oil producer had originally targeted a mid-2024 close for the deal. That deal gave Exxon a bigger position as a shale producer in the top U.S. oilfield, the Permian basin.

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Hess exits deepwater exploration block in Suriname

Oil & Gas 360º

(World Oil) – The American international oil and gas company Hess (Suriname II) Exploration Limited (Hess) will relinquish Block 59 in offshore Suriname on 8 July 2025. In July 2024, Hess’ partners ExxonMobil Exploration and Production Suriname B.V., The block will return to Staatsolie and become part of the open acreage.