Tag Archives: Offshore Technology

The Troll gas field in the North Sea has achieved a historic production milestone by delivering 42.5 billion standard cubic metres (bscm) of natural gas in 2024. This figure represents the highest annual production ever for the field and marks an increase of nearly 10% from the previous record of …

The US is bracing for a surge in natural gas demand as freezing weather and snowstorms threaten to cause widespread power outages, reported Reuters, citing energy analysts and reliability coordinators. The current conditions could lead to the highest levels of natural gas demand this winter. The increased demand coincides with …

Russia’s first ice-class LNG carrier has begun sea trials, advancing its efforts to expand in the global LNG market despite US sanctions, reported Reuters. The Alexey Kosygin tanker, named after a Soviet statesman, was built at the Zvezda shipyard and will join Russia’s Arctic LNG 2 fleet, which has been …

Saudi Arabian energy giant Aramco has announced a series of new initiatives aimed at bolstering digital development within its operations. These initiatives, unveiled at the Global AI Summit in Riyadh, include partnerships and the deployment of an AI supercomputer. At the summit, Aramco signed memorandums of understanding (MOUs) with Cerebras …

Saudi Aramco, Abu Dhabi National Oil Company (ADNOC) and commodities trader Trafigura are among the entities vying to acquire Shell’s service stations in South Africa, reported Bloomberg, citing sources. The sale, which could fetch close to $1bn, includes a network of 600 service stations and is part of Shell’s downstream …

Shell is looking to reduce its oil and gas exploration workforce by 20%, reported Reuters, citing sources. The news comes as CEO Wael Sawan makes cost-saving measures to the upstream division, which significantly contributes to the company’s earnings. According to sources, the planned cuts will affect offices globally, notably in …

The US EIA has forecast that US oil markets will experience a closer balance between supply and demand this year. At the same time, the EIA has revised its forecast for 2025 crude prices downwards compared with its Short-Term Energy Outlook (STEO), published in July. Despite recent drops in crude …

TotalEnergies is planning to exit its gas-condensate finds off the South African coast, reported Bloomberg, citing sources familiar with the matter. Instead, the French oil and gas major plans to focus on exploration opportunities closer to Namibia. In 2019, TotalEnergies made a discovery at the Brulpadda field, braving one of …

Saudi Arabia is preparing for a multi-billion-dollar share sale for its oil and gas company Aramco, potentially as early as June, reported Reuters, citing sources. The sources added that the divesture could fetch approximately $10bn (SR37.5bn) for the Saudi government. The sale’s specifics are still being worked out, and people …

China National Offshore Oil Corporation (CNOOC) is dispatching a team of top executives to Angola to explore new oil exploration opportunities, reported Reuters. This development comes as Angola, one of Africa’s leading oil producers, seeks to strengthen its energy ties with China, a principal creditor and a crucial market for …