Rigzone Industry News

The project, located offshore Nigeria in the Erha and Usan fields, is expected to begin in September.

Costs for the expansion of the pipeline will be 10 percent more than the most recent estimate of CAD 30.9 billion.

Perenco spudded an appraisal well in the vicinity of the Hylia South West discovery.

Woodside reported $1.7 billion in net profit for 2023, down 74 percent compared to 2022 as weaker oil and gas prices and higher costs offset increased sales and production.

The financing will be used to cover Moomba project costs incurred to date and will be tapped as the project progresses to the first injection, targeted for mid-2024.

Saudi Arabia's top chemicals maker warned of 'considerable uncertainty' for the industry.

Oil rose, bolstered by pockets of strength in physical crude markets, while traders weighed the potential for OPEC+ to extend its output cuts.

Equinor received approval to proceed with the construction of the 816-megawatt wind power project offshore New Jersey and New York.

Eidesvik said it will be the first to deploy a methanol-fueled ship for offshore wind, expecting delivery for the vessel 2026.

The outlook for Chinese oil markets is looking a little brighter after a boom in travel over the Lunar New Year, raising hopes of a more sustained recovery in demand.