Saudi Aramco has purchased its first cargo of WTI Midland, a U.S. crude oil grade that underpins the global Brent benchmark, according to Reuters. The transaction took place on Tuesday in the Platts trading window, with Aramco acquiring the cargo from trading firm Gunvor.
Petronas has transferred operations of the Kebabangan cluster Production Sharing Contract (KBBC PSC) to ConocoPhillips' subsidiary, ConocoPhillips Sabah Gas Limited, effective January 21. The KBBC PSC, previously operated by Kebabangan Petroleum Operating Company Sdn. Bhd. (KPOC), is now solely managed by ConocoPhillips Sabah Gas Ltd. With an export capacity of up to 750 million standard cubic feet of gas per day (mscf/d), the KBBC PSC will continue until 2050, ensuring future gas field developments remain economically attractive and support Sabah's energy security.
Petrobras has extended the charter and service agreement for the FPSO Cidade de Angra dos Reis to continue operating in Tupi field at Santos Basin offshore Brazil until 2030. Along with the extension, the FPSO will undergo upgrades to enhance production reliability and efficiency, maintain platform integrity, improve operational safety, and reduce greenhouse gas emissions. The FPSO currently has a production potential exceeding 50,000 barrels per day (bbl/d).
Harbour Energy expects a rise in revenue to c.$6.1 billion from $3.7 billion in 2023, driven by increased production, according to its trading and operations update of the year ended 31 December 2024, released on Thursday. The company completed the transformational acquisition of the Wintershall Dea asset portfolio last September, leading to an increase in the company’s production and reserve life.
Eni's chemical company, Versalis, has partnered with Lummus Technology during which it will have the rights to license all of Versalis' technologies related to the phenolics value chain which range from Cumene to Cyclohexanone Oxime.
SLB and Star Energy Geothermal, a subsidiary of Indonesia’s Barito Renewables have signed a cooperative agreement to accelerate advanced technologies for geothermal asset development. SLB has previously worked with Star Energy Geothermal on technology solutions that optimize well placement and employ artificial intelligence (AI) to improve the efficiency and economics of drilling geothermal wells.
Kuwait Oil Company (KOC) announced a hydrocarbon discovery at the Al-Jlaiaa offshore field within the Kuwaiti waters, estimated to hold 800 million barrels (mmbbls) of medium-density oil and an estimated 600 billion standard cubic feet(bcf) of associated gas, equivalent to 950 mmbbls of oil equivalent.
Ghiath Diab, the oil minister in the interim government appointed by Syria's new rulers, has issued public tenders for oil and its products, Reuters reported.
ADNOC Distribution announced the launch of the second phase of its service station solarization program in cooperation with Emerge, a joint venture between Masdar and the EDF Group. This initiative aims to enhance sustainability and operational efficiency by reducing greenhouse gas emissions and reliance on non-renewable energy.
SLB has released its results of the year 2024, recording 10% year on year (YoY) increase in revenues amounting to $36.29 billion. This was driven by the company’s acquisition of Aker Solutions in the fourth quarter (Q4) of 2023 alongside upstream operations in Europe, North Africa, and the Middle East during 2024.
