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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
(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
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
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.
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?
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.
(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.
An exploration well, Dalia‑6, was also drilled 2024. In Block 32, TotalEnergies, with a 30 percent operating ownership, said 2024 it would continue drilling development wells through the third quarter of 2025 including three infill wells of Kari Phase 1. Start-up is targeted 2028.
The Perito Moreno gas pipeline and compression plants at Tratay én and Saliquel ó added a combined 10 million cu m/day between August 2023 and October 2024. Leading operators include TotalEnergies, Harbour and CGC, with assets like Vega Pl é yade, Ara, and El Cerrito, both onshore and offshore.
The WDDM concession is located around 90 km offshore Egypt, in the north-western Nile Delta region of the Mediterranean Sea, and is operated by Shell through its joint venture, Burullus Gas Company. The area includes 17 gas fields at water depths ranging from 300 to 1,200 m.
million tpy recorded in 2024. Terminals commissioned before 2024 achieved an average utilization rate of 86.5% in 2024 and 76% to date in 2025, figures comparable to global onshore LNG plants, according to Rystad. FLNG has come a long way in less than a decade. Sign Up Connect Follow us for the latest industry news and insights.
for Q2 2024. onshore assets in 2024, and higher production from these assets, contributed to a 28 percent increase in oil and gas production from U.S. onshore assets in 2024, and higher production from these assets, contributed to a 28 percent increase in oil and gas production from U.S. per share for Q2 2025. In the U.S.,
That’s the equivalent to 8 years of production, down from 10 years in 2023, and compared with Exxon’s 12 years in 2024. Closing Bell Story Crude Oil Featured Mergers, Acquisitions & Divestitures Offshore American oil Chevron Exxon arbitration ExxonMobil Guyana prize assets billion barrels, according to LSEG data.
2),â Eurostat, accessed June 2024; âEmployment by sex, age, and detailed economic activity (from 2008 onwards, NACE Rev.2 2 two digit level)â1000,â Eurostat, accessed June 2024. In 2024, the European Commission set the CO 2 emission allowance cap at nearly 1.4 percent reduction factor for 2024 to 2027 and 4.4
The first six months of the year saw a four percent growth in new capacity compared to the same period in 2024. percent) stand out, thanks to the 68 percent growth in offshore wind farms in France and Germany; in Brazil (+11.7 Iberdrola’s total capacity reached 57,273 MW after 1,800 MW were installed in the first half of 2025.
Orlen said in a media release that the Vestas units, each with a 15-megawatt capacity, are the largest offshore wind turbines to be installed in Europe. Orlen said that as early as next year, the Baltic Power offshore wind farm will be capable of covering up to 3 percent of Poland’s electricity demand.
million settlement agreement for losses resulting from 2024 turbine blade failure on the Vineyard Wind 1 offshore wind project… The Town and County of Nantucket and GE Vernova have signed a $10.5
Canada added 2 rigs to 114 (gas +2 to 46), but remains 29 below 2024 levels. Offshore activity held at 13 rigs (-9 y/y). The deal would give ADNOC Asia-Pacific LNG assets (Santos produced 5Mtpa in 2024, could reach 8Mtpa) but faces FIRB scrutiny over energy security concerns. Read more Baker Hughes reports U.S.
“The partners will evaluate several CO2 storage sites in the Malay Basin, including both saline aquifers and depleted offshore fields”, France’s TotalEnergies said in a press release then. In 2024 Petronas signed an agreement with Abu Dhabi National Oil Co.
The company said in a media release that the Vestas units are the largest offshore wind turbines to be installed in Europe. Orlen said that as early as next year, the Baltic Power offshore wind farm will be capable of covering up to 3 percent of Poland’s electricity demand. gigawatts in partnership with other entities.
As we continue our transformation, we are proud to support the nation’s strategic energy goals and reinforce our position as a leader in integrated drilling and completion solutions.”
Image by Manuel Milan via iStock Iberdrola SA will distribute EUR 0.409 ($0.48) per share as a supplementary dividend for 2024, raising total shareholder remuneration for last year’s results to EUR 0.645 gross per unit. The total 2024 distribution represents a 15.6 billion for Q1 2024 to EUR 4.64 percent against Q1 2024.
Abu Dhabi National Oil Company considered a takeover in 2024, but did not proceed, Reuters reported. Finally, BP is still paying for the 2010 Macondo disaster, when a blowout at an offshore platform in the Gulf of Mexico caused one of the world’s worst oil spills. oil majors such as Exxon Mobil or Chevron. BP declined to comment.
Please upgrade your browser to improve your experience. During June 2025, Keddington produced a total of 992 bbl of oil over 23 days of timed pumped production averaging 10.4 h/d with an average flow-rate of 43 bpd gross during the period. Already a member?
The US Energy Information Administration has forecast crude oil production in the Federal Offshore Gulf of America [Gulf of Mexico] (henceforth GoA) will average 1.80 million bpd in 2024, in its most recent Short-Term Energy Outlook (STEO). million bpd in 2025 and 1.81 million bpd in 2026, compared with 1.77
percent stake in the Scarborough field offshore Western Australia to Japanese companies: 15.1 In May 2024 JBIC agreed to lend Woodside $1 billion for the Scarborough gas project. The LNG will come from Woodside’s LNG portfolio including the Scarborough Enbergy Project, JERA said. Last year Woodside sold a 25.1
As part of its second-quarter 2025 report released July 23, Woodside chief executive officer Meg O’Neill said the Trion project offshore Mexico is now 35% complete. The FPU and FSO installation contract with SBM Offshore ( OGJ Online, Aug. 14, 2024 ). A pipe contract to Corinth Pipeworks ( OGJ Online, July 12, 2024 ).
THREE60 Energy, a global life cycle solutions company specialising in engineering, operations and systems, has announced its financial results for the year ending 31 December 2024; last year was the strongest year of growth to date with revenue increasing by 36% year-on-year to £181.7 million, while EBITDA rose by 82% to £11.3
Brazilian oil company Prio expects to double its daily output next year when compared with 2024 levels, driven by the development of some key offshore fields, CEO Roberto Monteiro said on Monday…
The company said in a media release that the Vestas units, each with a 15-megawatt capacity, are the largest offshore wind turbines to be installed in Europe. Orlen said that as early as next year, the Baltic Power offshore wind farm will be capable of covering up to 3 percent of Poland’s electricity demand.
The company has also been awarded the production concession agreement for the Abu Dhabi Offshore 2 project by a state agency of the Emirate of Abu Dhabi, UAE, following a successful gas discovery. In the Middle East, PTTEP has also signed an agreement to extend the Exploration and Production Sharing Agreement for Block 53 through 2050.
The UK’s offshore basin is naturally declining – with over 280 active oil and gas fields today, but around 180 expected to cease production by 2030. The independent study , produced for OEUK by energy experts Westwood Global Energy Group, finds that up to 7.5 billion barrels of oil and gas could still be produced from UK waters – 3.2
from 2018-2024. With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. London, Mexico City, and Shanghai.
The figure also marks the fourth consecutive month that Norway’s gas output fell year-on-year, according to data from the Norwegian Offshore Directorate (NOD). percent against June 2024. percent from May and three percent from June 2024. June 2025’s gas production dropped 2.2 percent compared to May 2025 and 15.5
million bpd in 2024, a record high. million bpd in 2024. Growth in crude oil production from federal lands has increased at a faster rate: the 2024 output of 1.7 By comparison, crude oil production in offshore federal lands has increased at a slower rate but at 1.8 trillion ft 3 in 2024. million bpd in 2008 to 13.2
With offices in Dallas and Houston, NSAI provides a complete range of geological, geophysical, petrophysical, and engineering services and has the technical experience and ability to perform these services in any of the onshore and offshore oil and gas producing areas of the world. London, Mexico City, and Shanghai.
Pemex reported about $30 billion in losses in 2024. to develop offshore gas assets. Pemex posted a net income of 59.52 billion pesos ($3.2 billion) for the second quarter, compared with a 273.3 billion peso loss a year prior. Crude and condensate production slumped to 1.63 million barrels per day, down 8.6% drop from a year prior.
Sustain Low-Carbon Leadership in the Permian Environmental performance remains central. onshore portfolio through targeted sales and strategic redeployment.
Sval Energi has non-operated interests in 16 producing fields offshore Norway, with net production of 64,100 boepd in 2024, and 141 million boe in net 2P reserves and 102 million boe of net 2C resources. Its largest assets, measured by net 2P reserves, are Nova, Martin Linge, Kvitebjørn, Eldfisk, Maria, Symra and Ekofisk.
In its release, Maersk Training noted that the new maritime and safety training facility at Fletcher Technical Community College will primarily serve the offshore oil and gas industry and the maritime sector.
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