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06 May 25	Solstad Offshore announces contract award for Normand Turquesa Solstad Offshore has announce a 4-year contract award with Petrobras, subject to board approval, for the Anchor Handling Tug Supply (AHTS) Normand Turquesa.
06 May 25	India: Shell, Reliance, and ONGC set benchmark with India’s first offshore facilities decommissioning project In a landmark achievement for India’s energy sector, the Panna-Mukta and Tapti (PMT) joint venture partners - Shell (through BGEPIL), Reliance Industries Limited (RIL), and Oil and Natural Gas Corporation Limited (ONGC) have successfully completed the country’s first offshore facilities decommissioning project with the safe removal of mid and south Tapti field facilities.
06 May 25	UAE: ADNOC Drilling awarded $806 million long-term contract for three newbuild island rigs ADNOC Drilling has been awarded a contract for three island rigs by ADNOC Offshore for an estimated total contract value of $806 million to support expanding operations at the offshore Zakum development project. These three rigs are in addition to three ordered in July 2024.
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.
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.