Tue.Jul 01, 2025

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UK Regulator Approves $33-Billion Investment in Gas and Power Grids

OilPrice

Britain’s energy regulator, Ofgem, has given the provisional green light to an investment program of $33 billion (£24 billion) to maintain essential gas distribution networks and expand the power grid in a move to boost energy security and allow more renewables to enter the electricity system. A total of $20.

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Chile Focuses on Solar and Storage as Generation Capacity Expands

POWER Magazine

Chile is rapidly moving to build more power generation capacity, with much of that effort focused on renewable energy resources and battery energy storage systems (BESS). The country as part of that ambition The post Chile Focuses on Solar and Storage as Generation Capacity Expands appeared first on POWER Magazine.

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Ofgem Unveils £24 Billion Grid Modernization Plan

OilPrice

The UK’s energy regulator has approved a £24bn investment to upgrade the UK’s energy infrastructure as a part of its green transition. The Office of Gas and Electricity Markets (Ofgem) move comes as the government renews its push for cleaner energy, despite backlash around the impact on prices. Over £15bn is set to be deployed into the UK’s gas transmissions and distribution systems to ensure a “safe and secure” supply of gas to households and businesses.

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Europe drives LNG import growth as Asia stumbles on higher price: Russell

Oil & Gas 360º

(BOE Report) – Global imports of liquefied natural gas (LNG) ticked higher in the first half of 2025 as stronger European demand pulled cargoes away from Asia. Total imports of the super-chilled fuel were 208.62 million metric tons in the first six months of this year, up 1.7% from the 205.11 million for the same period in 2024, according to data compiled by commodity analysts Kpler.

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Oil Markets Refocus on OPEC as Iran-Israel Conflict Cools

OilPrice

Oil markets are now refocusing on OPEC+ as the Iran-Israel ceasefire continues to hold, with the cartel's meeting this weekend likely to be the next big market mover.- Ever since OPEC+ countries started to unwind their 2.

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ADNOC Drilling secures five-year, $800 million contract for oilfield services

Oil & Gas 360º

(World Oil) – ADNOC Drilling has secured a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs, the UAE-based company announced Monday. The five-year agreement is set to commence in 3Q 2025, marking another significant milestone in ADNOC Drilling’s evolution as a fully integrated technology-enabled energy services company.

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Indonesia Wants Drilling Partners to Revive Oil Output from Old Wells

OilPrice

Indonesia’s new energy strategy entails attracting oilfield services providers with the latest technology to help the Southeast Asian country revive and increase production from ageing or idle wells. With a reform enacted, oil and gas block operators in Indonesia will be allowed to partner with drilling and service technology providers to raise production from old wells or oilfields, the country’s deputy energy minister Yuliot Tanjung said on Tuesday, as carried by Reuters.

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Saudi Aramco Set to Raise Oil Prices to Asia Amid Strong Demand

OilPrice

Saudi Arabia is expected to raise the price of its flagship crude loading for Asia in August to a four-month high as demand strengthens in the summer and buyers seek more term supplies amid volatile spot prices. Saudi oil giant Aramco, the world’s top crude exporter, is set to raise the price of its Arab Light crude in Asia for August by between $0.50 and $0.80 per barrel to up to $2.00 a barrel over regional benchmarks, according to a Reuters survey of five Asian refining sources.

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Most O&G Companies Suffer Data Breaches

Permian Basin Oil and Gas Magazine

A recent Cybernews analysis found that more than 94 percent of the world’s top 400 oil and gas companies have suffered at least one data breach to date. Cybernews also discovered that, over a recent 30-day period, more than 50 percent of the analyzed oil and gas firms were breached. Moreover, according to the Cybernews Business Digital Index , which grades businesses based on their online security measures, 69 percent of the companies received a cybersecurity score of D or F, and only 10 per

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Why BP Became Target of Biggest Potential Oil Deal in Decades

OilPrice

Reports and rumors have intensified this year that BP is in the crosshairs of rivals, especially Shell, for a potential takeover that would be the largest deal in the oil industry since the Exxon and Mobil merger in 1999. Five years of U-turns in strategy and the abrupt departure of the architect of the ‘greener’ BP, Bernard Looney, have left investors unconvinced in the direction the UK supermajor is taking and whether it could – at some point, finally – convince shareholders and the market tha

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Canada Joins LNG Export Nations as First Cargo Sets Sail

Offshore Engineer

LNG Canada has loaded the first cargo of liquefied natural gas that is now destined for global markets, marking the start of operations at Canada’s first large-scale LNG export facility…

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Permian Basin Gets Nitrogen Rejection Unit

Permian Basin Oil and Gas Magazine

BCCK has signed an agreement with ZAP Engineering and Construction Services Inc. to deliver a 45 MMSCFD NiTech Dual Tower Nitrogen Rejection Unit (NRU) and oil removal system. The new cryo facility will commence operations in Q1 of 2027. This contract marks a significant collaboration between BCCK and ZAP Engineering, the project’s engineering, procurement and construction (EPC) firm.

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Flow State: The Connected Future of Hydropower Generation

POWER Magazine

As aging infrastructure meets rising demand, hydro plants are embracing modern control systems to unlock data, streamline operations, and power a more resilient, connected future. Hydro generation has been a The post Flow State: The Connected Future of Hydropower Generation appeared first on POWER Magazine.

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Oil Review Middle East - Untitled Article

Oil Review Middle East

Lloyd's Register (LR) has signed an agreement with German developer DAI Infrastruktur GmbH (DAI) to provide advisory services for Project Ra, a large-scale green ammonia production and bunkering development at East Port Said, Egypt Project Ra is expected to have a production capacity of up to two million tonnes of green ammonia annually (mtpa), with 1.65mn tonnes produced from renewable energy sources, with production scheduled to start in 2029.

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Coalition Aims to Help NOCs Integrate Methane Reduction in Debt Financing

Rigzone

The Methane Finance Working Group released guidance to 'deliver and deploy market-tested finance mechanisms that facilitate decarbonization across the oil and gas sector'.

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Equinor, Partners Greenlight $1.3B Johan Svedrup Oil Field Extension

Offshore Engineer

Equinor and its partners have approved the $1.

Field 56
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YPF turnover ruling in US casts shadow on Argentina’s shale, FX plans

Oil & Gas 360º

(Investing) – BUENOS AIRES -A dramatic ruling by a U.S. court ordering Argentina to hand over the 51% stake it holds in state energy firm YPF has cast a shadow over the country’s plans for its huge Vaca Muerta shale formation and hopes to return to global markets. U.S. District Judge Loretta Preska said on Monday that Argentina must transfer its YPF shares within 14 days to partially satisfy an earlier $16.1 billion court judgment against the country over its 2012 nationalization of the fi

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Fueling Defense: The Backbone of Modern Military Readiness 

American Gas Association

AGA Newsroom True Blue Blog Where energy conversations come to life. While natural gas is poised to play a critical role in the future of military aviation, its importance to our national defense today is already foundational. From emergency backup power at military installations to its essential role in defense manufacturing, natural gas fuels the daily operations that keep the U.S. military mission-ready.

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U.S. oil output hits record 13.47 million b/d in April, Texas up to 5.77 million b/d

Permian Basin Oil and Gas Magazine

U.S. crude oil production reached a record of 13.47 million barrels per day in April, according to Monday’s Petroleum Supply Monthly from U.S. Energy Information Administration. That topped the record of 13.45 million b/d from March. EIA said in Texas, the nation’s top producing state, oil production increased by 1.8 percent to 5.77 million b/d (highest since November 2024).

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Equinor Invests $1.3 Billion to Expand Europe’s Biggest Oilfield

OilPrice

Equinor and its partners have decided to invest $1.3 billion (13 billion Norwegian crowns) in the Phase 3 expansion of the Johan Sverdrup oilfield in the North Sea, Western Europe’s biggest oil-producing field. The Phase 3 development plan includes two new subsea templates, which will be tied into existing infrastructure via new pipelines. The investment will increase recoverable volumes from the field by 40–50 million barrels of oil equivalent (boe), with production expected to start in late 20

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EIA Report Shows Marcellus Proved Gas Reserves Dropped 5.9% in 2023

Marcellus Drilling News

The number crunchers at the U.S. Energy Information Administration (EIA) analyzed proved reserves data for 2023 (the most recent year available) and determined that proved reserves of U.S. natural gas decreased 12.6% year over year, from 691.0 trillion cubic feet (Tcf) to 603.6 Tcf. This was the first annual decrease in U.S. natural gas reserves.

Gas 183
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Clean energy stocks jump after tax on solar and wind projects is removed from Trump's big bill

CNBC: Energy

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Energy 107
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Danos Nets Production Services Contract for Beacon Offshore's Shenandoah FPS

Offshore Engineer

Danos Operations Services has been awarded a contract to provide production services for Beacon Offshore Energy’s new deepwater facility, the Shenandoah floating production system (FPS)…

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Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Asian Oil & Gas

Yinson Production has placed $1.

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AGA Report Shows Fossil Fuels Produce 87% of World Energy Supply

Marcellus Drilling News

The American Gas Association’s 2025 Energy Institute Statistical Review of World Energy was published on June 26, 2025, covering full-year 2024 data on global energy and emissions statistics. Global energy supply reached an all-time high with natural gas contributing the most incremental supply additions of any single energy source in 2024. Nearly 87% of global.

Energy 274
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Renewable Energy Surges, but Grid Crisis Looms as Demand Grows and Policies Shift

POWER Magazine

The U.S. electric power sector is experiencing a surge in renewable energy deployment, yet the grid faces mounting pressure from skyrocketing demand and shifting federal policies. As data centers and The post Renewable Energy Surges, but Grid Crisis Looms as Demand Grows and Policies Shift appeared first on POWER Magazine.

Energy 204
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Mewbourne Oil climbs to second in list of top 100 private oil and gas producers

Permian Basin Oil and Gas Magazine

Tyler-based Mewbourne Oil Co. moved to second in Enverus’ latest list of the most prolific 100 private oil and gas producers in the U.S. based on gross operated production, well count and rig movements in 2024. Mewbourne, founded in 1965, coordinates its operations in Permian Basin from offices in Midland and Hobbs, N.M. Continental Resources, whose primary region is Rockies, continued to rank No. 1 in Enverus’ list of privates followed by runner-up Mewbourne, Aethon Energy (third again), Ascen

Oil 52
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Johan Sverdrup Phase 3 investment decision

Oilfield Technology

You are using an outdated browser. Please upgrade your browser to improve your experience. Skip to main content Advertisement Register for Oilfield Technology magazine Sign in Contact us Home News Sectors Exploration Drilling & production Offshore & subsea Hydraulic fracturing Digital oilfield HSE Special reports Product news Magazine Webinars Spotlight interviews Events White papers Advertise Get your magazine Home Drilling & production 01 Jul 25 Johan Sverdrup Phase 3 investment de

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Maintenance Pushes U.S. LNG Exports Down in June

OilPrice

Maintenance at some LNG export facilities last month drove U.S. exports of the commodity lower—to the second-lowest monthly, according to data from LSEG cited by Reuters. The June total stood at 8.4 million tons of liquefied gas last month, which was down from 8.9 million tons in May and from 9.3 million tons for April. The April total was an all-time high.

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Ameren Missouri Files Application for Big Hollow Energy Project

Rigzone

SEARCH JOBS >> CREATE ACCOUNT SIGN IN Oil & Gas Jobs ▼ Search Jobs Jobs By Category Featured Employers Ideal Employer Rankings Oil & Gas News ▼ Headlines Most Popular Oil Prices Events Training Equipment SOCIAL Rigzone AI ▼ RigzoneGPT Chatbot Recruitment Job Postings & Talent Database Packages Search CV/Resumes Recruitment Dashboard Post Job FAQ | Advertise WTI Crude $65.50 +0.08% Brent Crude $67.15 +0.06% Natural Gas $3.43 +0.5% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS

Energy 62
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Australia's Commodity Exports Face Headwinds

OilPrice

Australia has been out of luck lately. The country’s consumer watchdog just this week warned the east coast could face a gas shortage as soon as this year. Smelters and miners are complaining about high energy costs and asking for government help. And now the industry department is warning that commodity exports are about to weaken on trade headwinds.

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Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Offshore Engineer

Yinson Production has placed $1.

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Oil Review Middle East - Untitled Article

Oil Review Middle East

ADNOC Drilling has been awarded a five-year contract worth up to US$800mn by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs The contract is the fifth awarded to the company in less than two months, reflecting the company’s leadership in high-tech oilfield services, and will support ADNOC’s aim to accelerate the development of the UAE’s conventional and tight reservoirs.

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New Cryogenic Fleet Hits Houston

Permian Basin Oil and Gas Magazine

OEG has made a major investment in its first-ever fleet of cryogenic ISO tanks in North America. A Scotland-based developer of O&G assets and infrastructure has rolled out its first-ever fleet of cryogenic ISO tanks in North America, now located at its Houston facility. This step marks OEG ‘s expansion of its cryogenic tank division into the region, a move intended to help meet demand for safe, efficient transport of liquefied gases across the United States and beyond.

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Iraq Claims Top Spot Among OPEC Crude Suppliers to the U.S.

OilPrice

OPEC’s second-largest producer, Iraq, was the single biggest supplier of crude from the cartel to the United States in May, per data from the U.S. Energy Information Administration (EIA) cited by Iraqi media outlets Shafaq News and IraqiNews. Iraq ranked first among the 12 OPEC producers in terms of exports to the United States in May. Shipments totaled nearly 7 million barrels of crude, 6.95 million barrels to be precise.

Barrel 283
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PA EHB Rejects Request to Dismiss McKean Co. Injection Well Appeal

Marcellus Drilling News

MDN previously brought you the news that the Pennsylvania Dept. of Environmental Protection (DEP) approved a plan by Catalyst Energy to convert an existing conventional gas production well on Route 646 in Cyclone (Keating Township, McKean County, PA) into a shale wastewater injection well (see PA DEP Approves Shale Wastewater Injection Well in McKean County).

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Engie Completes Africa's Largest Wind Farm Four Months Early

Offshore Engineer

French utility Engie has completed Africa's largest wind farm four months early, it said on Tuesday, as it targets the Middle East and North Africa as a priority region for future renewables growth…