Latest News
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05 May 25
Brazil: Petrobras doubles processing capacity at UPGN in Boaventura Energy Complex
The second module of the Natural Gas Processing Unit (UPGN) of the Boaventura Energy Complex, located in Ita ltaboraí (RJ), has begun commercial operations. The Boaventura UPGN is part of Petrobras' Rota 3 Integrated Project, through which natural gas from production fields such as Tupi, Búzios, Sapinhoá, among others, is transported. -
05 May 25
BW Energy announces first quarter results 2025
BW Energy, operator of the Dussafu Marin licence in Gabon and the Golfinho cluster offshore Brazil, reported a record quarterly EBITDA of USD 182.1 million for the first quarter of 2025. This was up 31% from USD 141.6 million in the previous quarter on increased oil sales following all-time-high production in Gabon and higher output in Brazil. -
05 May 25
Brazil: BW Energy makes FID on Maromba field development in Brazil
BW Energy has announced the final investment decision (FID) for the Maromba development offshore Brazil. The development targets 500 million barrels of oil in place in the highly delineated and tested Maastrichtian sands. First oil is planned by end-2027 with expected plateau production of 60,000 barrels of oil per day. -
05 May 25
UAE: ADNOC Gas announces Q1 net income of $1.27 billion, up 7% year on year, significantly exceeding market expectations
ADNOC Gas and its subsidiaries (together referred to as 'ADNOC Gas'), a world-class integrated gas processing and sales company, today announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7% and 4% respectively. -
05 May 25
US: Interior Department to update Offshore Financial Assurance rule to support future energy development
The U.S. Department of the Interior has announced its intent to revise the Bureau of Ocean Energy Management’s 2024 Risk Management and Financial Assurance for OCS Lease and Grant Obligations Rule and proceed with development of a new rule that is consistent with the Trump administration’s 2020 proposed regulatory framework. -
05 May 25
chevron reports first quarter 2025 results
Chevron reported earnings of $3.5 billion ($2.00 per share - diluted) for first quarter 2025, compared with $5.5 billion ($2.97 per share - diluted) in first quarter 2024. Returned $6.9 billion cash to shareholders; acquired $2.2 billion of Hess shares. Started production from Ballymore field in the Gulf of America in April. -
05 May 25
Argentina: Golar enters into 20-year agreements for 5.95mtpa nameplate capacity in Argentina – one of the world’s largest FLNG development projects
Golar LNG has entered into 20-year agreements for 5.95mtpa nameplate capacity in Argentina – one of the world’s largest FLNG development projects. The two FLNG agreements are expected to add US$ 13.7 billion in earnings backlog to Golar over 20 years, before adjustments. -
05 May 25
US: Offshore provisions in reconciliation framework key to energy security
National Ocean Industries Association President Erik Militohas issued a statement in support of the House Natural Resources Committee reconciliation package. 'Chairman Westerman’s bill is a game-changer for offshore energy, delivering regulatory certainty, responsive royalty rates, and a robust schedule of 30 Gulf of America lease sales over 15 years'. -
05 May 25
EnQuest withdraws from Serica deal amid market volatility
North Sea-focused oil producer EnQuest will not make an offer for UK's Serica Energy as the two could not agree on favourable terms in time amid market volatility. -
05 May 25
UK: SSE Renewables issues statement on Berwick Bank wind farm
SSE Renewables has responded to a letter written by conservation groups, led by RSPB Scotland, to Scotland’s First Minister on its Berwick Bank offshore wind project. -
05 May 25
UK: People in England and Wales concerned about higher electricity bills under scheme to divide UK up into different pricing zones
A poll of over 3,000 people in England and Wales by Opinium Research, commissioned by RenewableUK, has found that most of them object to proposals by the Government to introduce a new scheme called zonal electricity pricing, as it would lead to unfair increases in their energy bills. -
05 May 25
Norway: Statkraft submits plan to upgrade Nore power plant for 4 billion NOK
Statkraft is seeking a licence to upgrade the Nore hydropower plants in Nore and Uvdal in Buskerud, Norway with a 4 billion NOK budget. The new power plant will be able to deliver more electricity when needed and will thus be able to contribute to more stable prices. -
05 May 25
UK: Scottish Government’s Just Transition Fund reopens for applications
Communities across the North East and Moray will benefit from over £8 million of funding to create jobs in low carbon industries and enhance green and net zero skills. -
05 May 25
UK: Scottish Government funding will help develop green hydrogen production
Eleven projects designed to accelerate Scotland’s hydrogen economy are set to benefit from a share of £3.4 million funding. The Scottish Government funding will help develop green hydrogen production, improve the hydrogen supply chain, and enhance hydrogen transport and storage infrastructure. -
05 May 25
ExxonMobil announces first-quarter 2025 results
Exxon Mobil Corporation has announced first-quarter 2025 earnings of $7.7 billion, or $1.76 per share assuming dilution. Cash flow from operating activities was $13.0 billion and free cash flow was $8.8 billion. Shareholder distributions of $9.1 billion included $4.3 billion of dividends and $4.8 billion of share repurchases, consistent with the company's announced plans. -
05 May 25
Brazil: Subsea7 awarded ‘super-major’ contract offshore Brazil
Subsea 7 has announced the award of a super-major contract by Petrobras, after winning a competitive tender, for the development of the Búzios 11 field located approx. 180 kms off the coast of the state of Rio de Janeiro, Brazil, at 2,000 metres water depth in the pre-salt Santos basin.
