Saipem, the global engineering, in consortium with China’s Offshore Oil Engineering Co (COOEC), has been awarded a major offshore engineering, procurement, construction, and installation (EPCI) contract by QatarEnergy LNG for the COMP5 package of the North Field Production Sustainability (NFPS) Offshore Compression Complexes project.
Harbour Energy has agreed to acquire US-based LLOG Exploration Company LLC in a $3.2 billion deal that will establish a major deepwater presence for the company in the US Gulf of America, according to a press release. The transaction is designed to lift production, extend reserves life, improve margins, and support higher free cash flow and shareholder returns later this decade. The acquisition consideration includes $2.7 billion in cash and $0.5 billion in new Harbour voting ordinary shares to be issued to LLOG Holdings LLC.
Abu Dhabi National Oil Company (ADNOC) has signed a $2 billion (AED 7.34 billion) green financing agreement backed by the Korea Trade Insurance Corporation (K-SURE) to support the development of lower-carbon projects across its operations.
Abu Dhabi National Oil Company (ADNOC), the State-owned energy major, has signed a landmark structured financing transaction of up to $11 billion to monetize future midstream gas production from the Hail and Ghasha project, in partnership with Eni and Thailand’s PTTEP.
Baker Hughes, one of the major innovators, has secured a significant multi-year contract from Kuwait Oil Company (KOC), the state-owned oil company, to deploy advanced artificial lift technologies aimed at enhancing production across Kuwait’s oil and gas fields.
India’s imports of Russian crude oil are set to exceed 1 million barrels per day (mmbbl/d) in December, according to trade and refining sources, bucking earlier expectations of a sharp drop as refiners resume purchases from non-sanctioned suppliers offering steep discounts, Reuters reported.
Energy trade between India and Russia has remained resilient despite increased Western sanctions, following a recent meeting between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, where both leaders reaffirmed their commitment to continued cooperation.
Saudi Arabia’s Midad Energy has become a key contender to acquire the international assets of Russian oil major Lukoil. The assets, estimated to be worth around $22 billion, include oilfields, refineries, and thousands of fuel retail stations across global markets.
TotalEnergies and Google have signed a 21-year power purchase agreement (PPA) under which Google will receive one terawatt-hour (TWh) of certified renewable electricity from the Citra Energies solar power plant in northern Malaysia, the companies announced. The agreement covers the supply of around 20 megawatts (MW) of solar power from the project, which will be developed in Kedah province and is scheduled to begin construction in early 2026.
Baker Hughes, one of the major energy technology company and Hunt Oil Company, privately held upstream explorer, have signed a joint framework agreement to evaluate and redevelop mature oil and gas fields worldwide, the companies announced aiming to extend the productive life of aging assets and unlock new hydrocarbon value.
The European Union (EU) has imposed new sanctions on Russian oil interests, targeting traders and shipping networks accused of helping Moscow bypass Western restrictions on crude exports that fund its war in Ukraine, Reuters reported.
The latest measures add nine individuals and entities linked to Russia’s so-called shadow fleet of oil tankers, including businessmen connected to state oil companies Rosneft and Lukoil, as well as firms that own and manage tankers operating outside Western maritime and insurance systems.
