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SLB OneSubsea and Subsea7 Partner with PETRONAS for Suriname Offshore Development

SLB OneSubsea and Subsea7 Partner with PETRONAS for Suriname Offshore Development

SLB OneSubsea and Subsea7 have entered into a strategic collaboration with PETRONAS Suriname to advance offshore subsea projects in Suriname's deepwater basin. This agreement, part of the Subsea Integration Alliance, aims to streamline project execution by integrating engineering, procurement, construction, installation, and commissioning services. The collaboration seeks to leverage the combined expertise of the partners to reduce project risks and enhance delivery efficiency. Suriname is emerging as a significant region for exploration and development in South America, with the potential for substantial production growth driven by recent discoveries.

How Texaco Helped Shape Global Oil

How Texaco Helped Shape Global Oil

Texaco, once a dominant force in the global petroleum industry, played a significant role as one of the Seven Sisters. These seven oil companies co...

Ecopetrol CEO Exit Eases Strike Threat, Union Withdraws Protest Plans

Ecopetrol CEO Exit Eases Strike Threat, Union Withdraws Protest Plans

Colombia's largest oil workers union, the Unión Sindical Obrera (USO), has retracted its strike threat following the removal of Ecopetrol SA's CEO, Ricardo Roa. The decision came after a board meeting where Roa was asked to take a leave of absence until June 28. This move was anticipated by investors, resulting in minimal market reaction. Roa's departure is linked to charges of influence peddling and alleged campaign finance violations during Gustavo Petro's 2022 presidential campaign. The union had previously warned that Roa's continued leadership could disrupt Ecopetrol's operations. With Roa stepping down, the union believes the company can refocus on its mission to create value for Colombia.

Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Hunting has secured a $63.5 million subsea order for a new offshore development in Guyana, reinforcing investment in FPSO-based projects in the region. The order includes the supply of titanium stress joints (TSJs), essential components for subsea riser systems used in floating production, storage, and offloading (FPSO) vessels. Hunting's Subsea Spring business unit will execute the work, with delivery scheduled through May 2028. Revenue recognition is expected to begin in the second half of 2026. This order builds on an additional $4.4 million in related contracts awarded to Hunting's Stafford and Flexible Engineered Solutions units since late 2025, with potential for further scope as the development progresses.

New York Allocates $50 Million to Expand Clean Energy Workforce Programs

New York Allocates $50 Million to Expand Clean Energy Workforce Programs

New York Allocates $50 Million to Expand Clean Energy Workforce Programs

Somalia Initiates First Offshore Oil Drilling with Turkish Partnership

Somalia Initiates First Offshore Oil Drilling with Turkish Partnership

Somalia is set to commence its first offshore oil drilling operations, marking a significant milestone in its energy sector. A Turkish government-owned drilling ship, the Çağrı Bey, is expected to arrive off the Somali coast on Friday to begin deep water drilling. This development follows successful seismic surveys conducted last year by a Turkish research vessel. Somalia's Petroleum Minister, Dahir Shire, described this as a 'historic milestone' in the country's offshore energy journey. The drilling aims to unlock potential offshore oil reserves, which could significantly contribute to Somalia's economic recovery and establish it as a regional energy player. The Turkish Petroleum Corporation's involvement is part of a broader production-sharing agreement formalized in 2024, highlighting Turkey's role as a long-term partner in Somalia's development.

New York Invests $50 Million in Clean Energy Workforce Development

New York Invests $50 Million in Clean Energy Workforce Development

New York Invests $50 Million in Clean Energy Workforce Development

Lion Energy Contracts Rig for Bula Karang-1 Well in Indonesia, Aiming to Tap Oil Resources

Lion Energy Contracts Rig for Bula Karang-1 Well in Indonesia, Aiming to Tap Oil Resources

Lion Energy Contracts Rig for Bula Karang-1 Well in Indonesia, Aiming to Tap Oil Resources

Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Hunting Secures $63.5 Million Subsea Order for Guyana Offshore Project

Lion Energy Advances Oil Exploration with New Rig in Indonesia

Lion Energy Advances Oil Exploration with New Rig in Indonesia

Lion Energy Advances Oil Exploration with New Rig in Indonesia

Lion Energy Advances Oil Exploration with Rig Contract in Indonesia

Lion Energy Advances Oil Exploration with Rig Contract in Indonesia

Lion Energy has secured a contract with Silver City Drilling for the SCD-20 rig to drill the Bula Karang-1 exploration well in Indonesia's East Seram production sharing contract. This marks a significant step in the company's exploration activities in the region. The well is expected to spud in mid-2026 and aims to target oil resources in the East Seram block. Designed as a deviated well, Bula Karang-1 will test offshore structures from an onshore location, which is intended to reduce development costs while accessing potential reservoirs. The prospect is estimated to contain approximately 12 million barrels of oil, with drilling anticipated to provide further insights into the block's resource potential.

Wall Street Zen Downgrades Alliance Resource Partners to 'Hold' Amid Coal Industry Concerns

Wall Street Zen Downgrades Alliance Resource Partners to 'Hold' Amid Coal Industry Concerns

Wall Street Zen Downgrades Alliance Resource Partners to 'Hold' Amid Coal Industry Concerns