Latest News
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04 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. -
04 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 $2.2 billion of Hess shares. Started production from Ballymore field in the Gulf of America in April. -
04 May 25
Argentina: Golar enters into 20-year agreements for 5.95mtpa nameplate capacity in Argentina – one of the world’s largest FLNG development projects
Golar LNG has entered into 20-year agreements for 5.95mtpa nameplate capacity in Argentina – one of the world’s largest FLNG development projects. The two FLNG agreements are expected to add US$ 13.7 billion in earnings backlog to Golar over 20 years, before adjustments. -
04 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'. -
04 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. -
04 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. -
04 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. -
04 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. -
04 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. -
04 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. -
04 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. -
04 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. -
02 May 25
First European built offshore CO2 Carrier to be christened and launched on May 14
The dedicated CO2 carrier currently under construction at Royal Niestern Sander shipyard in the Netherlands is a cornerstone in Greensand’s mission to deliver EU’s first full-scale carbon capture and storage (CCS) value chain. -
02 May 25
Italy: Prospex Energy announces Q1 2025 activity report
Prospex Energy, the AIM quoted investment company focused on European gas and power projects, has provided an update from the Selva Malvezzi production concession in Italy following the publication by Po Valley Energy of its Q1-2025 activity report. -
02 May 25
Argentina: Harbour Energy takes FID for the Southern Energy FLNG export project in Argentina.
Harbour Energy and its partners – Pan American Energy, YPF, Pampa Energia and Golar LNG – have taken Final Investment Decision (FID) for the Southern Energy floating liquefied natural gas (FLNG) export project in Argentina. -
02 May 25
Shell announces Q1 2025 results
Shell has announced its Q1 2025 results. Shell delivered another solid set of results in the first quarter of 2025, further strengthening its leading LNG business by completing the acquisition of Pavilion Energy, and high-grading its portfolio with the completion of the Nigeria onshore and the Singapore Energy and Chemicals Park divestments. -
02 May 25
UK: Archer and Repsol sign major five-year contract for late life and P&A services
Archer, a leading provider of drilling and well services, has signed a five-year contract with Repsol Resources UK for platform drilling services, facilities engineering, coil tubing, wireline services, and downhole well service technologies. The agreement includes a two-year optional extension. -
02 May 25
US: Repsol allies with Stonepeak on solar and storage portfolio for its first US renewables partnership
Repsol announced that it will be joining forces with Stonepeak as its first partner in a portfolio of renewable assets in the United States. Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, has agreed to invest $340 million to acquire a 46.3 percent stake from Repsol in a 777 MW operating solar and storage portfolio located in New Mexico and Texas. -
02 May 25
Brazil: Equinor sells the Peregrino field for USD 3.5 billion
Equinor has entered into agreements with Brazilian company Prio Tigris Ltda., a subsidiary of PRIO SA (PRIO3.SA) for a sale of its 60% operated interest in the Peregrino field in Brazil. PRIO, Brazil’s largest independent oil and gas company, will pay a consideration of USD 3.35 billion and a maximum of USD 150 million in interest to Equinor for the transaction. -
01 May 25
GoM: Shell completes acquisition of working interest in the Ursa platform in Gulf of America
Shell Offshore Inc. and Shell Pipeline Company (SPLC), subsidiaries of Shell, have completed the previously announced agreement to increase their stake in the Ursa platform in the Gulf of America from 45.3884% to 61.3484%. The acquisition is part of Shell’s strategy to invest in profitable and carbon-competitive oil and gas projects with a strong integrated value chain. -
01 May 25
Poland: Equinor and Polenergia secure Final Environmental Decision for the Baltyk 1 Project - paving the way for Poland’s largest offshore wind farm
The decision marks a milestone in the further development of what could be the largest offshore wind farm in the Polish part of the Baltic Sea. Baltyk 1, a project developed jointly by Equinor and Polenergia is being prepared for Poland’s 2025 offshore auction. -
01 May 25
Masdar and OMV advance partnership on green hydrogen development
Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, and OMV, Austria’s integrated chemicals, fuels and energy company, have signed an agreement to partner in the production of green hydrogen, synthetic sustainable aviation fuel (eSAF), and other sustainable products.
