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An Already Bad Situation in the Red Sea Just Got Worse


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Canadian Well Plugging Firm Gears Up for IPO
The company deploys crews to decommission orphaned oil and gas wells nationwide and generate carbon offsets.
12:00 PM EST | April 16, 2024
House Votes to Sanction China's Purchase of Iranian Oil
The legislation was approved by a 383-11 vote.
11:26 AM EST | April 16, 2024
SBM Bags Contracts for ExxonMobil's Latest Guyana Project
SBM Offshore will construct and install the floating production, storage and offloading unit (FPSO) Jaguar.
10:35 AM EST | April 16, 2024
ExxonMobil French Unit to Sell Refinery to Entara-Trafigura Consortium
The refinery has a crude oil processing capacity of 7 million metric tons per year.
10:22 AM EST | April 16, 2024
North America Breaks Rig Loss Streak
North America added rigs week on week, according to Baker Hughes' latest rotary rig count.
8:00 AM EST | April 16, 2024
Mexico Presidential Frontrunner Plans to Spend Billions on RE, Gas Power
Mexico's leading presidential candidate would spend around $13.6 billion to boost her country's use of renewable energy while still adding gas-burning power plants.
3:54 AM EST | April 16, 2024
Germany to Provide $2.3B Aid for Decarbonization of Industrial Sectors
Germany received clearance from the European Commission for $2.3 billion in state support for projects to migrate industrial sectors from fossil fuels to renewable hydrogen, as well as projects to electrify industrial processes.
3:47 AM EST | April 16, 2024
Chile's ENAP Says Working on Decarbonization Plan
ENAP's decarbonization plan will adopt targets for 2035 and 2050.
3:00 AM EST | April 16, 2024
Valeura Makes Three Oil Discoveries Offshore Thailand
Valeura declared three new oil discoveries in the Gulf of Thailand.
2:45 AM EST | April 16, 2024
EU Offers $900MM in Funding for Energy Infrastructure Projects
The call will open for submission on April 30 and will close on October 22.
2:11 AM EST | April 16, 2024
House Votes to Sanction China's Purchase of Iranian Oil Share your comments
The legislation was approved by a 383-11 vote.
11:26 AM EST | April 16, 2024
North America Breaks Rig Loss Streak Share your comments
North America added rigs week on week, according to Baker Hughes' latest rotary rig count.
8:00 AM EST | April 16, 2024
An Already Bad Situation in the Red Sea Just Got Worse Share your comments
'An already bad situation in the Red Sea and Gulf of Aden has just got worse,' Xeneta Chief Analyst Peter Sand said.
2:09 AM EST | April 16, 2024
Oil Markets Were Already Positioned for Iran Attack Share your comments
'The market had been bracing for this scenario', analysts at FGE said.
1:57 AM EST | April 16, 2024
Is The Iran Nuclear Deal Revival Project Dead? Share your comments
'There has been no meaningful progress on either side', the President of Transversal Consulting told Rigzone.
10:07 AM EST | April 15, 2024
House to Vote on China's Iranian Oil Imports After Israel Attack Share your comments
The U.S. House of Representatives is poised to vote Monday on legislation aimed at countering China's purchase of Iranian crude oil.
3:00 PM EST | April 15, 2024
Oil Falls as Traders Anticipate Israeli Retaliation Against Iran Share your comments
Oil retreated from session lows as traders await Israel's response to an unprecedented attack from Iran.
3:32 PM EST | April 15, 2024
BMI Reveals Latest Henry Hub Price Forecasts Share your comments
BMI revealed its latest Henry Hub front month natural gas price forecasts out to 2028.
10:00 AM EST | April 15, 2024
EIA Raises WTI Oil Price Forecasts Share your comments
The U.S. Energy Information Administration raised its West Texas Intermediate oil price forecast for 2024 and 2025.
7:19 AM EST | April 15, 2024
BMI Says Australia's LNG Exports Will Drop This Year Share your comments
Australia's liquefied natural gas (LNG) exports will drop this year, continuing a trend from last year after reaching a record high in 2022.
6:00 AM EST | April 15, 2024
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Valeura Makes Three Oil Discoveries Offshore Thailand Share your comments
Valeura declared three new oil discoveries in the Gulf of Thailand.
2:45 AM EST | April 16, 2024
Biden Plans Sweeping Effort to Block Arctic Oil Drilling Share your comments
The initiative, set to be finalized within days, marks one of the most sweeping efforts yet by Biden to limit oil and gas exploration on federal lands.
7:22 AM EST | April 12, 2024
Petrobras Discovers Oil in Potiguar Basin Share your comments
The discovery of Albian-age turbidite reservoirs carrying oil is 'unprecedented in the Potiguar Basin'.
3:57 AM EST | April 11, 2024
Pantheon Upgrades Kodiak Estimates to 1.2 Billion Barrels Share your comments
An updated report gave best estimates of contingent recoverable resources of 1.2 billion barrels of marketable liquids.
4:05 AM EST | April 10, 2024
Petro-Victory Finds More Oil in Sao Joao Field in Brazil Share your comments
Petro-Victory Energy Corp, a publicly traded company engaged in acquiring and developing crude oil and natural gas resources in Brazil, has found more oil in the Sao Joao field.
10:42 AM EST | April 09, 2024
Panoro Advances Plans for Equatorial Guinea Offshore Block PSC Share your comments
Block EG-23 is located offshore Equatorial Guinea north of Bioko Island and adjacent to the producing Alba gas and condensate field.
4:00 AM EST | April 08, 2024
PDVSA-Chevron JV Launches Venezuela 2024 Drilling Campaign Share your comments
'The CMI14 well, the first of 17 contemplated in this year's business plan, represents an important milestone for the increase in production of this joint venture'.
5:49 AM EST | April 05, 2024
JV to Study CCS Potential of Malaysia's Penyu Basin Share your comments
A joint venture consortium of PGS, TGS and SLB has started a multi-client 3D seismic project in the Penyu Basin, offshore Peninsular Malaysia.
11:02 PM EST | April 04, 2024
BOEM Announces Next Steps in Leasing Program Share your comments
The U.S. Bureau of Ocean Energy Management announced the next steps in the national outer continental shelf oil and gas leasing program.
12:28 PM EST | April 03, 2024
Who Dat JVs Approve Exploration Wells for Drilling Share your comments
Karoon Energy said its total committed CAPEX for 2024 has increased to $117 million to 134 million.
12:00 PM EST | April 03, 2024
Read More Exploration News
SBM Bags Contracts for ExxonMobil's Latest Guyana Project Share your comments
SBM Offshore will construct and install the floating production, storage and offloading unit (FPSO) Jaguar.
10:35 AM EST | April 16, 2024
Bayou Bend CCS Taps Sulmara for Geo Survey Share your comments
'The quality of the data gathered is some of the best we've seen from a USV'.
4:22 AM EST | April 12, 2024
Exxon CEO Pay Climbed 2.8 Percent to $36.9MM Last Year on Pension Share your comments
Exxon Mobil Corp. Chief Executive Officer Darren Woods' pay climbed 2.8 percent to $36.9 million last year.
5:00 PM EST | April 11, 2024
OKEA, DNO Make FID on Brasse Development in North Sea Share your comments
The field is estimated to contain 24 million barrels of oil equivalent gross in recoverable reserves and will be developed as a tie-back to the Brage field.
4:00 AM EST | April 09, 2024
Woodside-Led JV Teams Up with Yara for CCS in Western Australia Share your comments
Yara Pilbara and Angel CCS will study whether CCS can be used to decarbonize the current operations in the Burrup Strategic Industrial Area.
3:26 AM EST | April 09, 2024
RRC Reveals Texas Top 10 Crude Oil Producing Counties Share your comments
The Texas Railroad Commission revealed the top 10 crude oil producing counties in Texas, ranked by preliminary production, for January 2024.
8:02 AM EST | April 08, 2024
DeepOcean Scores 4-Year Frame Agreement with Equinor Share your comments
The four-year agreement has options for an extension of up to four more years.
6:00 AM EST | April 08, 2024
Petronas Teams Up with JERA for Japan-Malaysia CCS Value Chain Share your comments
The scope of the agreement includes the separation and capture of CO2 emitted by JERA in Japan, cross-border transportation, and CO2 storage in Malaysia.
3:41 AM EST | April 04, 2024
Iraq Fails to Meet OPEC+ Oil Target Even After Lowering Output Share your comments
Iraq again missed its OPEC+ oil production target in March.
5:00 PM EST | April 03, 2024
Adnoc Begins Crude Production in Offshore Asset Share your comments
The Belbazem offshore block is operated by Al Yasat Petroleum, a joint venture between Adnoc and China National Petroleum Corporation (CNPC).
4:00 AM EST | April 01, 2024
Read More Production News
Canadian Well Plugging Firm Gears Up for IPO Share your comments
The company deploys crews to decommission orphaned oil and gas wells nationwide and generate carbon offsets.
12:00 PM EST | April 16, 2024
Germany to Provide $2.3B Aid for Decarbonization of Industrial Sectors Share your comments
Germany received clearance from the European Commission for $2.3 billion in state support for projects to migrate industrial sectors from fossil fuels to renewable hydrogen, as well as projects to electrify industrial processes.
3:47 AM EST | April 16, 2024
Chile's ENAP Says Working on Decarbonization Plan Share your comments
ENAP's decarbonization plan will adopt targets for 2035 and 2050.
3:00 AM EST | April 16, 2024
USA Regional Banks Dramatically Step Up Loans to Oil and Gas Share your comments
A group of U.S. regional banks is ratcheting up lending to oil, gas and coal clients.
2:11 AM EST | April 16, 2024
Japan's Mizuho Invests $3.64MM in Bison's CCS Project in Alberta Share your comments
Bison's Meadowbrook CCS Hub project, located near Edmonton, Alberta, aims to develop a world-scale storage operation with a capacity of three million tons of CO2 per annum.
2:20 AM EST | April 15, 2024
Colombia's GeoPark to Acquire Stakes in Argentina's Neuquen Basin Share your comments
The agreed acquisition price is around $200 million, plus an additional carry of $110 to 120 million over a two-year period, associated with certain exploration activities.
4:57 AM EST | April 12, 2024
Woodside Reconsiders Sale of Macedon, Pyrenees Assets Share your comments
The Australian integrated energy company started a process in the second half of 2023 to consider the potential for divestment of its interests in the assets.
3:25 AM EST | April 12, 2024
Diamondback Sells $5.5B of Bonds for Endeavor Deal Share your comments
Diamondback Energy borrowed $5.5 billion in the U.S. investment-grade market to partly help fund its $26 billion takeover of Endeavor Energy Resources.
4:12 AM EST | April 10, 2024
BP Sees Strong Trading Performance in First Quarter Share your comments
BP expects to report a strong performance from its trading business for the first quarter.
10:00 AM EST | April 09, 2024
Russia's Revenue Jumps in First Quarter as Oil Prices Rise Share your comments
Russia reported a sharp increase in revenue in the first quarter due in part to one-time tax payments and rising oil prices.
3:58 AM EST | April 09, 2024
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ORE Catapult Looks for New CEO as Jamieson Steps Down Share your comments
Andrew Jamieson is set to step down as CEO of renewables research organization ORE Catapult at the end of 2024.
2:30 AM EST | April 15, 2024
Mitsui's STATS Group Makes Leadership Change Share your comments
Leigh Howarth will be replaced by Stephen Rawlinson, currently STATS Group's director for North America and global sales director.
2:30 AM EST | April 15, 2024
Trafigura Makes Management Changes as Long-Serving Members Retire Share your comments
Global commodities player Trafigura will see two of its long-serving high-ranking officials depart this year.
8:00 AM EST | April 14, 2024
Petrobras Chairman Suspended Share your comments
A court suspended Petroleo Brasileiro SA's government-appointed chairman for alleged conflicts of interest.
8:00 AM EST | April 13, 2024
Energean Completes Chariot Morocco Farm-In Share your comments
Energean has completed a farm-in to Chariot Limited's acreage offshore Morocco.
10:35 AM EST | April 12, 2024
APA Corporation Shuffles Management Following Callon Acquisition Share your comments
APA Corporation has made changes to its executive leadership team.
1:00 PM EST | April 11, 2024
KCA Deutag Scores $204MM Worth of Drilling Contracts Share your comments
KCA Deutag has secured contracts worth $204 million in its key and core markets.
10:11 AM EST | April 11, 2024
Borr Drilling Secures $156.8MM of Contracts in North Sea, Southeast Asia Share your comments
The contracts are for Borr's Prospector 1 and Gunnlod jack-up rigs, plus a rig still to be determined.
5:00 AM EST | April 11, 2024
TotalEnergies Inks Hydrocarbons MoU, Expanding Partnership with Sonatrach Share your comments
'This Memorandum of Understanding reflects our shared willingness to expand our strategic partnership with Sonatrach'.
1:00 PM EST | April 10, 2024
Eni's Plenitude Starts Construction of Renopool Solar Park in Spain Share your comments
Eni-controlled renewable energy company Plentitude has started the construction of the Renopool solar park in Extremadura.
11:11 AM EST | April 10, 2024
Read More Company Operations News
US, Japan Team Up for Commercialization of Fusion Energy Share your comments
Japan and the U.S. agreed to cooperate on research and the development of the supply chain for the societal deployment of fusion energy.
1:30 PM EST | April 15, 2024
Equinor Advances First Battery Storage Projects in USA Share your comments
The two projects have a combined total capacity of 110 MW, providing a valuable source of energy security for the Texas grid once operational.
8:00 AM EST | April 15, 2024
Canadian Green H2 Project Gets Environmental Green Light Share your comments
Project Nujio'qonik will be Canada's first commercial green hydrogen/ammonia producer created from over three gigawatts of renewable electricity through wind projects.
10:00 AM EST | April 12, 2024
Oklo Aims to Provide Nuclear Power for Diamondback's Permian Operations Share your comments
Oklo is proposing to provide its Aurora powerhouse technology to supply reliable and emission-free electricity.
10:00 AM EST | April 11, 2024
EverWind Green Hydrogen Nova Scotia Project Advances with FEED Completion Share your comments
The green hydrogen project of EverWind Fuels in Nova Scotia is progressing.
10:00 AM EST | April 10, 2024
Greece to Provide $1.1B in State Aid for Two Solar, Energy Storage Projects Share your comments
Greece received European Commission clearance for $1.1 billion in state support for two solar photovoltaic farms with a combined capacity of 813 MW.
3:38 AM EST | April 08, 2024
US FERC Opens Comment on Environmental Report for Kennebec Hydro Projects Share your comments
The comment solicitation concerns Brookfield's applications 2022 to amend three existing licenses and a relicensing application, which have a combined generation capacity of about 47 MW.
1:30 PM EST | April 05, 2024
NGIF Funds Methane-to-Hydrogen Tech Share your comments
New Wave's technological process directly cracks methane into hydrogen and carbon black with no direct GHG emissions, utilizing shockwave and compression heating as the primary energy sources.
8:00 AM EST | April 04, 2024
US to Shell Out $4B in First Round of Advanced Energy Tax Credit Share your comments
Over 100 projects across 35 states have been selected for the first round of the 10 billion Advanced Energy Tax Credit.
1:30 PM EST | April 02, 2024
USA Biofuels Industry is Booming Share your comments
The biofuels industry in the U.S. is booming, according to Rystad Energy.
7:43 AM EST | April 01, 2024
Read More Alternative Energy News