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The International Energy Agency has lowered expectations for a global oil surplus this year amid stronger demand growth in Asia and sanctions on OPEC+ nations. "Time and again, oil markets show adaptability in the face of major challenges," the agency said. View the full article
Mozambique has committed to “drill, baby, drill,” and expand exploration and production activity in a key message delivered by Florival Mucave, Chairman of the Mozambique Energy Chamber, during a roundtable event in Maputo on Thursday. View the full article
The upcoming launch of the South African National Petroleum Company reflects a broader trend across Africa, where nations are restructuring their state-owned energy enterprises to attract investment, improve efficiency and enhance energy security. View the full article
Sunnen Products Company has launched the HTE 1600W Tube Hone, an all-electric precision honing machine specifically designed for the oil and natural gas industry's demanding small diameter, long bore applications. View the full article
Petrobras has requested authorization from Brazil’s environment protection agency to prepare a drilling rig for work at a disputed offshore exploration project, a sign that the state-controlled producer is optimistic about overcoming licensing hurdles. View the full article
EDF and TAQA Geothermal have signed a strategic Memorandum of Understanding (MoU) to collaborate on geothermal energy technologies including power generation and HVAC applications as well as Compressed Air Energy Storage in Saudi Arabia. View the full article
ADNOC Drilling announced record financial results for both Q4 and full-year 2024, with Q4 revenue growing 41% year-over-year, and full-year revenue increasing 32% y-o-y. ADNOC attributes the success to its expansion of onshore and offshore fleets, and its oilfield services (OFS) segment. View the full article
ADNOC Gas has signed a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company. View the full article
(Bloomberg) – Pemex (Petroleos Mexicanos) will split profits with private-sector partners in joint ventures that may account for as much as 10% of the state oil company’s output, said Mexico President Claudia Sheinbaum. View the full article
ADNOC Gas has signed a 14-year sales and purchase agreement (SPA) with Indian Oil Corporation for the export of up to 1.2 million tonnes per annum (mtpa) of liquefied natural gas (LNG) to India’s largest integrated and diversified energy company. View the full article
STRYDE has secured a major contract to supply 42,000 autonomous nodes to Smart Seismic Solutions (S3). The nodes will be deployed on a 3D high-density seismic survey for the CarbonCuts CO₂ Storage Project onshore in Denmark. View the full article
Vipo has opened a new Swellable Packer Manufacturing facility in Monclova, Ohio. This factory was established to better supply the long-standing oil and gas customer with swellable packers for use in installations all over the world. View the full article
(Bloomberg) – Chevron Corp. plans to cut its global workforce by 15% to 20% by next year, as part of a broader cost reduction strategy. Chevron recently relocated its headquarters from Calif. to Houston, Texas, and is targeting between $2–3 billion in cost reductions by 2026. View the full article
TGS announced it has been awarded two 4D streamer contract acquisition projects, one in the North Sea and one in the Norwegian Sea. The 4D projects are scheduled to be acquired back-to-back and commence in June. View the full article
(Bloomberg) – BP Plc CEO Murray Auchincloss insisted that the company’s “fundamental reset” has been in the works for a year, while refusing to comment on an analyst’s question about whether he’s had engagement with activist Elliott Investment Management. View the full article
The U.S. expects bigger oil surpluses than it previously projected for this year and in 2026, driven by continued growth in American and non-OPEC production and projections that sanctions won’t likely dent Russian output. View the full article
Hilong Offshore, a subsidiary of China-based Hilong Group, has secured a transportation and installation contract for phase two of Eni’s Congo LNG project. The deal is valued at approx. $55 million USD (400 million yuan). View the full article
(Bloomberg) – Dar Petroleum Operating Co. has resumed producing oil from a number of its wells in South Sudan after almost a year, people with knowledge of the matter said. View the full article
Equatorial Guinea is aiming to revitalize its upstream sector, with plans to launch a new licensing round in 2025 aimed at increasing E&P activity. Equatorial Guinea’s last licensing round, held in 2019, offered 27 blocks for exploration and attracted significant industry interest. View the full article
The 2025 Offshore Technology Conference (OTC) Board of Directors has selected its Distinguished Achievement Award (DAA) recipients. The recipients will be honored during the OTC Opening Ceremony Monday, 5 May 2025 at NRG Center in Houston, Texas. View the full article
Kosmos Energy has produced first LNG at the bp-operated Greater Tortue Ahmeyim (GTA) LNG project, offshore Mauritania & Senegal. "We are looking forward to the accelerated ramp-up of LNG production and the first LNG cargo lifting," Kosmos said. View the full article
Global Underwater Hub (GUH), the trade and development body which represents the UK’s £9.2 billion underwater industry, has published a white paper explaining its strategies to improve subsea cable systems for offshore wind projects. View the full article
Oil and Natural Gas Corporation Limited (ONGC) and bp have signed a contract under which bp will serve as the Technical Services Provider (TSP) for the Mumbai High field, India’s largest and most prolific offshore oil field. View the full article