Month: July 2025

bp will make a single $350-million early payment of its remaining Deepwater Horizon damages to Louisiana and resolve the parishes’ coastal zone lawsuits against it.

One person has been reported dead and four remain missing after Borr Drilling’s Prospector 5 rig sank during jacking operations offshore Gabon. Search-and-rescue efforts and an investigation are underway.

The USGS estimates 96 Tcf of technically recoverable, undiscovered natural gas on Alaska’s North Slope, nearly three times the region’s roughly 35 Tcf of proven reserves.

At SPE ATCE 2026, energy economists and industry experts discussed how the prolonged Strait of Hormuz disruption is reshaping energy security, investment and transition planning. Panelists called for greater resilience through storage, infrastructure redundancy and sustained oil and gas capacity, warning that historical models and crisis-driven policies may leave energy systems vulnerable to future shocks.

SLB reported sequential growth in all regions in Q3, with its Middle East business up 13% and OneSubsea awards supporting a “very compelling” 2027 outlook.

Strathcona Resources wants a tanker ban exemption for a rail-fed Prince Rupert terminal that could export 250,000 bpd of Canadian crude to Asia within two years.

The Pentagon cleared wind projects in Maine and South Dakota as the Trump administration seeks support for a bipartisan permitting bill that could speed oil and gas projects.

An inaugural ADIPEC Global Energy Report finds 85% of surveyed energy leaders see energy as a more attractive investment than five years ago, while 72% expect the Middle East to gain importance in global energy.

DOF has won a $15–25 million contract for Skandi Acergy to transport and install subsea production systems on deepwater fields in Africa, starting in early Q1 2027.

Santos produced a record 26.3 MMboe in Q3, up 14% on the prior quarter, as Barossa reached steady output and Pikka ramped up before a planned curtailment to about 70,000 bpd.