Rigzone Industry News

DeepOcean's contract involves the Troll B-Increased Gas Export project while that of Ocean Installer includes the Northern Lights CO2 Pipeline.

Tecnicas Reunidas has won a $560 million contract for the North Field.

The projects are expected to generate over 2.6 GW for Saudi Arabia.

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, decreased by 6.1 million barrels.

Hywind Tampen in Norway has a capacity of 88 MW.

Chevron is raising production at its Wheatstone gas plant by five percent.

The surge comes despite government pledges to cut back on fossil fuel subsidies.

The aid aims to ease high costs brought by the Russia-Ukraine war.

Oil edged higher after struggling for direction throughout the session as traders weighed increased supplies and a shaky economic outlook.

OPEC's core members may need to consider further production cuts.