Rigzone Industry News

'The acquisition of Trailstone is an important accelerator in Engelhart's long term strategy to grow our platform and enhance our technological capability to play a leading role in the clean energy transition'.

The project is expected to be financed 60 percent from debt and 40 percent from equity, with partners Haisla Nation and Pembina each contributing 20 percent of equity.

The IEA forecast a surplus petroleum production of up to eight MMbpd by 2030 as cleaner transport and electricity generation drive a decline in demand while non-OPEC countries continue to grow output capacity.

Oil rose as risk-on sentiment spurred by cooling US inflation overshadowed an unexpected increase in the country's crude stockpiles.

European natural gas prices jumped after Germany's Uniper SE was awarded more than €13 billion ($14 billion) in damages for unsupplied volumes from Gazprom PJSC.

The DOE awarded $45 million to several states under a capital program for energy efficiency projects.

'There are a number of key gas projects in the pipeline', analysts at BMI said.

Billionaire Warren Buffett bought almost 2.57 million more common stocks from Occidental for about $153.3 million.

Vitor Abreu is a geologist, but he arrived in Seoul last week like a star, greeted at the airport by flashing cameras and a hoard of reporters.

Fusion technology has the potential to deliver emissions-free, continuous, and on-demand energy to complement Occidental's existing zero or very-low emissions approach for DAC power and heat requirements.