Latest News
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05 May 25
Denmark: Construction begins on Greensand’s CO2 transit terminal at Port Esbjerg - The first gateway for Carbon storage in the EU
Construction has started on Greensand’s Carbon Dioxide transit terminal at Port Esbjerg in Denmark. Once operational, the terminal will be a critical component in what is expected to become the EU’s first CO2 storage facility aimed at mitigating climate change. -
05 May 25
Egypt: Scatec starts construction of large scale solar and battery storage project in Egypt
Scatec has commenced construction of its 1.1 GW Obelisk solar and 100 MW/200 MWh battery storage project in Egypt. The energy will be sold under a USD-denominated 25-year Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC), backed by a sovereign guarantee. -
05 May 25
Libya: Eni CEO Claudio Descalzi meets the Prime Minister of the Libyan Government of National Unity Abdul Hamid Mohammed Dbeibeh
The Prime Minister of the Libyan Government of National Unity, Abdul Hamid Mohammed Dbeibeh, and Eni’s CEO, Claudio Descalzi, met in Tripoli to review the progress of activities in the Country, namely the three projects sanctioned in 2023: Sabratha Compression, Bouri Gas Utilization Project and Bahr Essalam Structures A&E. -
05 May 25
Germany: Vestas announces new 65 MW order in Germany
Vestas has announced a 65 MW order in Germany as part of its Q2 order intake. Delivery is planned to begin in Q4 2026, with commissioning scheduled for Q2 2027. Customer is Lindenhof GmbH and project name is Kloddram. -
05 May 25
Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability and adjust production upward
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman, will implement a production adjustment of 411 thousand barrels per day in June 2025 from May 2025 required production level. -
05 May 25
Valaris announces sale of Jackup VALARIS 247 to BW Energy for $108 million
Valaris has agreed to sell jackup VALARIS 247 to BW Energy (BWE) for cash proceeds of approx. $108 million. As part of the sales agreement, BW Energy will be restricted from using the rig outside of BWE-owned or affiliated properties for the rig’s expected remaining useful life. -
05 May 25
Valaris announces contract award for drillship VALARIS DS-15
Valaris has been awarded a five-well contract offshore West Africa for drillship VALARIS DS-15. The contract is expected to commence in the third quarter 2026. The total contract value, based on an estimated duration of 250 days, is approx. $135 million. -
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.
