Wed.Jul 16, 2025

article thumbnail

Shale Sputters as Oil Slides Into Profit Danger Zone

OilPrice

U.S. shale drillers are scaling back as crude prices drift into the red zone for profitability, according to Quantum Capital Group’s Dwight Scott. With West Texas Intermediate (WTI) hovering near $65, private operators are seeing diminishing returns on new drilling activity. “In the mid-$60s, you get dangerously close to where oil prices don’t really drive appropriate returns for new drilling,” Scott said in a Bloomberg TV interview on Wednesday.

Oil
article thumbnail

How has the U.S. energy use changed since 1776?

Oil & Gas 360º

(EIA) – In 2024, the United States consumed about 94 quadrillion British thermal units (quads) of energy, a 1% increase from 2023, according to our Monthly Energy Review. Fossil fuels—petroleum, natural gas, and coal—accounted for 82% of total U.S. energy consumption in 2024. Nonfossil fuel energy—from renewables and nuclear energy—accounted for the other 18%.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Could Natural Hydrogen Reserves Really Power the Planet for Centuries?

OilPrice

Researchers from three respectable universities (Durham, Oxford, and Toronto) just issued a paper that lays out a guide to exploring for underground hydrogen deposits and also claims that the planet’s reserves, theoretically, could supply all energy needs for so many years that you would write off the number as delusional hyperbole if we repeated it.

article thumbnail

Van Oord Installs All Monopiles for Sofia Offshore Wind Farm

Offshore Engineer

Van Oord has completed the installation of all monopile foundations at RWE’s Sofia offshore wind farm, marking a major milestone in the construction of one of world’s largest wind farms…

article thumbnail

Aramco-Backed MidOcean in Advanced Talks for Major Stake in Canada LNG Unit

OilPrice

MidOcean Energy, the LNG investment platform backed by Saudi Aramco, has emerged as the front-runner to acquire a significant minority stake in Petronas’s Canadian gas and LNG business, according to people familiar with the talks, cited by Bloomberg. The deal, now reportedly in late-stage negotiations, could value the assets between $6 and $7 billion, making it one of the largest LNG transactions of the year.

article thumbnail

How Canada’s oil sands transformed into one of North America’s lowest-cost plays

BOE Report

Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up.

Oil
article thumbnail

5 Oil Titans Who Revolutionized the Energy Sector

OilPrice

From pioneering technologies that shattered geological limits to building empires that outmuscled governments, these oil titans didn’t follow the energy industry — they dragged it behind them. Some were wildcatters with nothing but a hunch and a homemade rig. Others were empire-builders who transformed family fortunes into multinational juggernauts.

Oil

More Trending

article thumbnail

How Canada’s oil sands transformed into one of North America’s lowest-cost plays

Oil & Gas 360º

(BOE Report) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. As the global oil industry enters a downturn due to economic uncertainty related to U.S. tariffs policy and OPEC+ pumping more barrels, Canada’s oil sands industry finds itself in a position

Oil
article thumbnail

Seatrium: first turnkey FPSO delivery to Petrobras

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 Offshore & subsea 16 Jul 25 Seatrium: first turnkey FPSO delivery to

article thumbnail

Angola's First Major Gas Discovery Could Anchor Its $150 Billion Strategy

OilPrice

Angola has made a major natural gas discovery, marking a breakthrough in the country’s efforts to diversify its fossil fuel production. Azule Energy, a joint venture between BP Plc (NYSE:BP), Eni S.p.A. (NYSE:E) and a group of Angolan companies successfully drilled the country's first dedicated gas exploration well in the Lower Congo Basin, with preliminary estimates suggesting the reserve holds more than 1 trillion cubic feet of natural gas and up to 100 million barrels of condensates.

article thumbnail

CF Industries announces start-up of Donaldsonville complex CO2 dehydration and compression unit, permanent CO2 sequestration

Oilfield Technology

CF Industries Holdings, Inc. has announced the start-up of the carbon dioxide (CO2) dehydration and compression facility at its Donaldsonville Complex in Louisiana. The facility will enable the transportation and permanent geological sequestration of up to 2 million tpy of CO2 that would otherwise have been emitted into the atmosphere. ExxonMobil, the Company’s carbon capture and sequestration (CCS) partner for this project, will be transporting and permanently storing the CO2.

article thumbnail

TotalEnergies Says Lower Oil and Gas Prices Will Weigh on Q2 Profit

OilPrice

TotalEnergies expects lower earnings in its upstream and LNG divisions for the second quarter amid a drop in oil, natural gas, and LNG prices compared to early this year and the same time last year. In an update note ahead of the Q2 results due out on July 24, the French supermajor said that its exploration and production earnings are expected to reflect the $7 per barrel decline in oil prices in the second quarter compared to the first quarter.

article thumbnail

GM, Redwood Materials Pursue Use of Vehicle Batteries for Energy Storage

POWER Magazine

General Motors (GM) has signed a non-binding memorandum of understanding with Redwood Materials, an agreement meant to accelerate deployment of energy storage systems using both new U.S.-manufactured batteries from GM, and second-life battery packs from GM electric vehicles (EVs). This collaboration, announced July 16, marks a significant step toward taking GM’s advanced battery technology beyond […] The post GM, Redwood Materials Pursue Use of Vehicle Batteries for Energy Storage appeared

article thumbnail

The Promise and Pitfalls of Mexico’s Clean Energy Plan

OilPrice

For years, Mexico has been exploiting its vast oil reserves to meet its energy needs and boost its export revenues. During this time, several governments largely overlooked the country’s renewable energy potential. Many regions of Mexico experience abundant sunlight throughout the year, while the north of the country has high levels of wind. However, to date, its renewable energy sector is somewhat underdeveloped.

article thumbnail

ANGOLA: Azule Energy Announces Gas Discovery at Gajajeira-01 Well Offshore Block 1/14

Oil News Africa

Azule Energy (35%), ANPG and partners Equinor (30%), Sonangol E&P (25%), and Acrep S.A. (10%), announce a gas discovery at the Gajajeira-01 exploration well, located offshore in the Lower Congo … Read More The post ANGOLA: Azule Energy Announces Gas Discovery at Gajajeira-01 Well Offshore Block 1/14 appeared first on oilnewsafrica.

E&P
article thumbnail

Don’t cancel or coddle at-risk capital projects—challenge them

McKinsey

Skip to main content Don’t cancel or coddle at-risk capital projects—challenge them July 16, 2025 | Article Today’s volatility leaves multibillion-dollar capital projects with little room for error. A new approach to stress testing helps keep them on track. Findings from economic geographer Bent Flyvbjerg, editor of The Oxford Handbook of Megaproject Management (Oxford University Press, June 2017), confirm a stark reality: Out of a database of 16,000 projects, only 8.5 percent

article thumbnail

Eni signs 20-year LNG supply deal with Venture Global

Oil & Gas 360º

Publisher’s Note: Eni SpA will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Register to attend. (World Oil) – Venture Global and Itay’s Eni today announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 MMtpa of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years.

article thumbnail

Macquarie Strategists See WoW USA Crude Inventory Build

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 $65.80 -1.08% Brent Crude $68.09 -0.9% Natural Gas $3.52 -0.17% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS

article thumbnail

OEUK: Next offshore wind allocation round must raise 8.4 GW to move UK closer to Clean Power 2030 goals

Offshore Energies UK

​Leading trade body OEUK has responded to the Government’s announcement of reforms to the Contracts for Difference scheme for Allocation Round 7 for offshore wind. OEUK’s wind and renewables manager, Thibaut Cheret comments: “Encouraging firms and investors to invest in the UK is critical across our energy mix. This new and pragmatic approach to planning, timelines and budgets is important for making Allocation Round 7 (AR7) a success.

article thumbnail

Capital Power Investing $3B in Hummel Gas-Fired Plant Shamokin Dam

Marcellus Drilling News

In 2018, the Panda Hummel Marcellus-fired power plant in Snyder County, PA, roared to life (see Marcellus-Fired Panda Hummel Electric Plant Roars to Life in PA). Panda Hummel was one of the largest coal-to-gas conversion projects in the country, constructing a large 1,124-megawatt (MW) Marcellus gas-fired electric plant on the site of a retired coal-fired.

Gas
article thumbnail

TechnipFMC Awarded Heidrun Extension Contract

Offshore Engineer

TechnipFMC has been awarded an integrated engineering, procurement, construction, and installation contract by Equinor for its Heidrun extension project in the Norwegian North Sea…

article thumbnail

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Asian Oil & Gas

Seatrium has announced the impending delivery of Petrobras 78 (P-78), the first of a series of turnkey floating production, storage and offloading (FPSO) units to Petrobras…

article thumbnail

How developers are stacking the odds to unlock value in clean fuels projects

Enverus

CALGARY, Alberta (July 16, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages Generative AI across its solutions, has released a new report examining how clean fuel developers are unlocking greater value through strategic technology integration and smart policy alignment.

article thumbnail

EQT Set To Be Named Gas Supplier for Homer City Redevelopment Project

Rigzone

Homer City Redevelopment, tasked with transforming the decommissioned coal-burning Homer City Generating Station, signed an agreement in principle with EQT for the supply of gas to the 4.4-GW redevelopment project.

Gas
article thumbnail

MDN’s Energy Stories of Interest: Wed, Jul 16, 2025 [FREE ACCESS]

Marcellus Drilling News

MARCELLUS/UTICA REGION: What Pennsylvania can learn from Louisiana about energy policy; Wärtsilä engines selected to deliver reliable power for U.S. data center; NATIONAL: Energy leaders warn of power shortfall in AI competition, urge swift action; Sunnova’s Enron-ish ending; Made-for-court climate study completely fails science gold standard; Natural gas – the workhorse of American energy dominance.

article thumbnail

Several Oilfields in Kurdistan Halt Production After Drone Attacks

OilPrice

Several oilfields operated by foreign companies in Iraq’s semi-autonomous region of Kurdistan have halted production in the past few hours following attacks with explosive-laden drones on infrastructure at the fields. On Tuesday, a drone attack forced the suspension of production at the Sarsang oilfield, operated by a U.S. privately held firm, HKN Energy.

article thumbnail

Blackcomb Pipeline: Expanding Texas Midstream Infrastructure with New Compressor Stations

Oil Gas Leads

As Texas continues to anchor itself as a national leader in energy infrastructure, Blackcomb Pipeline, LLC is advancing development with two new compressor stations to support its natural gas pipeline network. Backed by recent air permits issued by the Texas Commission on Environmental Quality (TCEQ) , these stations are set to enhance compression capacity and reliability across the Permian and Eagle Ford regions.

article thumbnail

GAIL, OIL Add 15 Years to Their Existing Gas Sale and Purchase Deal

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 $65.80 -1.08% Brent Crude $68.09 -0.9% Natural Gas $3.52 -0.17% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS

Gas
article thumbnail

CONGO: PetroNor E&P Provides Q2 2025 Production Update

Oil News Africa

PetroNor E&P ASA has provided the following update on the Congo operations related to the PNGF Sud field complex:Second quarter average net working interest production was 4,240 bopd*, compared with … Read More The post CONGO: PetroNor E&P Provides Q2 2025 Production Update appeared first on oilnewsafrica.

E&P
article thumbnail

Egypt's EGAS Leases Another FSRU from New Fortress Energy

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 $65.80 -1.08% Brent Crude $68.09 -0.9% Natural Gas $3.52 -0.17% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS

article thumbnail

Equinor Reports ‘Safer Than Ever’ Second Quarter Ops

Offshore Engineer

Equinor's long-term positive safety trend is reinforced through the second quarter of 2025, as the total number of serious incidents and personal injuries per million…

article thumbnail

Venture Global signs 20-year contract to supply LNG to Italy’s Eni

BOE Report

Venture Global will supply 2 million tonnes per annum (MTPA) of liquefied natural gas from its Calcasieu Pass 2 project over 20 years to Italian state-controlled energy group Eni, the two companies said on Wednesday.

article thumbnail

Turn The Page - EU Efforts to Move Away from Russian Gas Add Uncertainty to Global LNG Market

RBN Energy

The European Union (EU) has taken a number of steps in recent years to end its reliance on Russian natural gas, which accounted for nearly half of the bloc’s supplies before the 2022 invasion of Ukraine. But while the changes happening in Europe might provide a boost for global LNG exporters, including projects in operation or under development in the U.S., the EU’s policy shifts have also introduced greater uncertainty around demand.

Gas
article thumbnail

CNOOC Finds Oil and Gas in South China Sea

Offshore Engineer

China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has made a ‘major breakthrough’ in the exploration of metamorphic buried hills…

Gas
article thumbnail

Naftogaz Partners with Baker Hughes to Strengthen Ukraine's Energy Sector

Rigzone

'The ultimate goal of our companies is to contribute to the energy security and decarbonization of Ukraine's energy sector and support the eventual reconstruction of the country's economy through reliable and modern energy solutions'.

article thumbnail

GHD Takes EIA Approvals Lead for Australian 1GW Offshore Wind Project

Offshore Engineer

Engineering specialist GHD has been appointed to lead the Environmental Impact Assessment (EIA) and approvals process for Blue Mackerel, a proposed 1 GW offshore…

article thumbnail

IDC deploys Second Rig for 35-Well Project at Zubair Field

Iraq Business News: Oil & Gas

By John Lee. The Iraqi Drilling Company (IDC) has deployed a second drilling rig, IDC-56, as part of the ongoing project to drill 35 oil wells at the Zubair oilfield. The project is being implemented under a contract with Italy's ENI , in cooperation with oilfield services company Schlumberger. IDC had previously commenced operations at Zubair using rig IDC-51.