- Crude Oil (WTI) 72.07 USD/bbl +1.27%
- Crude Oil (Brent) 76.00 USD/bbl +1.40%
- NYMEX Natural Gas 2.32 USD/MMBtu +6.14%
- OPEC Basket Price 76.06 USD/bbl -0.41%
ADES Awarded $93.3M Drilling Contract
ADES Holding Company (ADES) in Saudi Arabia has been awarded a one-year firm jack-up drilling contract in Qatar by a major International Oil Company (IOC), with optional extensions of up to 18 months. The total contract value, including firm and optional terms, amounts to approximately SAR 350 million ($93.3 million).
Chevron to Invest $500M in Low Carbon Technologies
Chevron's venture capital arm has announced its third fund, the Future Energy Fund III, with a $500 million commitment aimed at investing in renewable energy technologies, according to Reuters.
Egypt
Qalaa Holdings, Major Banks in Egypt Finalize Debt Settlement Deal
Qalaa Holdings has announced the signing of an agreement to settle all its debts to Banque Misr, Banque du Caire, Arab African International Bank, and Al Ahli Bank of Kuwait in exchange for approximately EGP 4.547 billion. The debt will be settled through stocks while keeping the right to repurchase; land; and compensation for exchange rate changes and stock market price fluctuations beyond the agreed upon price.
SLB Secures Three Contracts for Buzios Field Electrification Offshore Brazil
SLB has secured three contracts from Petrobras for completion hardware and services for up to 35 subsea wells in the Buzios Wave II oilfield development. The contracts entail SLB’s full bore electric interval control valves and electric subsurface safety valves. marking a shift towards full production system electrification for Petrobras to enhance production availability through more reliable completions.
TechnipFMC Secures Subsea Contract for ExxonMobil Guyana’s Whiptail Project
TechnipFMC has secured a contract in Guyana's Stabroek Block from ExxonMobil Guyana Limited for the Whiptail project. This contract involves the supply of subsea production systems, including 48 subsea trees, associated tooling, 12 manifolds, controls, and tie-in equipment.
TotalEnergies Extends FID of Papua New Guinea LNG Project to 2025
TotalEnergies has said that more efforts are needed before a final investment decision can be made regarding the planned liquefied natural gas (LNG) project in Papua New Guinea.
