UPSTREAM NEWS

ONGC sets out aggressive plans to spend about $3.64 billion this financial year as part of government’s drive to reduce oil imports

Suncor Energy could drill up to 16 exploration and appraisal wells in prospective block in Newfoundland & Labrador

TotalEnergies and its partner SOCAR (State Oil Company of the Republic of Azerbaijan) announced the start of production of the first phase of development of the Absheron natural gas and condensate field in the Caspian Sea, around 100 km south-east of Baku.

Valeura Energy shuts in 2400 barrels per day of oil at Wassana after floating storage and offloading vessel hits Calm buoy

Singapore-headquartered upstream independent Jadestone Energy intends to strengthen its executive management team following the past several months that its chairman Dennis McShane admits have been “disappointing” to all its stakeholders.

Borr and Shelf say capital returns to shareholders will be enabled by thriving market conditions

A small fire has reportedly been extinquished quickly on board Equinor's Gina Krog production platform in the Norwegian North Sea. There were no injuries reported from the fire on Wednesday morning, but production has been shut down, according to Upstream's sister publication DN, which quoted a Norwegian police report.

New oil and gas is needed, but source of financing to drill remains an issue

The UK’s Health & Safety Executive (HSE) is examining the events that led to the shutdown several weeks ago of the Kraken offshore oilfield in the UK North Sea, which field operator EnQuest has still not acknowledged.

New Shell chief Wael Sawan has shown his hand at the supermajor with a long-anticipated strategy shift confirmed today.

Brazilian oil giant Petrobras has issued a tender to contract a fresh batch of subsea trees and associated equipment to assist in the development of two producing units to be deployed in the ultra-deepwater section of the Sergipe-Alagoas basin.

A leading Italian engineering and construction giant has landed a sizeable offshore contract from Saudi Aramco for work on its Marjan oilfield, as a part of the Saudi state giant’s long-term agreement (LTA) with international contracting players.

Oil companies have submitted expressions of interest in acreage, according the hydrocarbon minister

Seatrium Limited, through its wholly-owned subsidiary Sembcorp Marine Offshore Platforms Pte. Ltd. (“SMOP”), has secured a contract worth more than S$500 million for two offshore wind farm substations from Empire Offshore Wind LLC, a joint venture between Equinor and bp.

Australian contractor Worley has won a new services contract for Shell’s Sparta ultra-deepwater field development in the US Gulf of Mexico, for which the final investment decision is now targeted later this year, reprising its role when the project was set to leave the drawing board as TotalEnergies’ North Platte.

Analysts point to an impressive performance in a quarter where profit is falling back from record levels seen in 2022. Norwegian energy giant Equinor has posted stronger than expected first quarter results at a time it is playing a key role in European energy security.

Abu Dhabi National Oil Company (Adnoc) has kicked off a fresh tender process for multiple packages involving its multibillion-dollar Hail & Ghasha offshore sour gas development.

Brazilian oil giant Petrobras is preparing a pilot project for the capture and storage of industrial carbon dioxide emissions and is looking to build partnerships for the country's first full-scale CCS hub.