TotalEnergies offshore project in Suriname to start production in mid-2028
Annand Jagesar of the state-run Staatsolie said that the French energy company TotalEnergies, along with its partners, are on track to launch the project's output in mid-2028. He was speaking during a visit to the site to monitor the progress. Jagesar said, "Together we are not just developing an energy project; we are writing a chapter in Suriname’s history," during the event held in Paramaribo, capital of the small South American country. Suriname wants to emulate the transformation of neighbouring Guyana into a major oil producer through offshore development led by international energy firms.
Baker Hughes reports that US energy companies have not changed their rig count for the second week in a row.
Baker Hughes, a leading energy services company, said in a closely watched report released on Friday that U.S. firms have kept the 'overall rig counts' unchanged for a second consecutive week. The total oil and gas rig counts, an early indicator for future production, held steady at 588 during the week ending September 4. Baker Hughes reported that oil rigs increased by 2?to 449, gas rigs decreased by 2?to?130 and other miscellaneous drilling rigs were unchanged at 9. Oil and?gas production declined by 20% in 2023, as energy firms focused more on increasing shareholder returns, paying off debt and decreasing costs than increasing output. The U.S.
Limits on foreign reactor technology may limit India's nuclear ambitions
Experts say that a new draft framework could dilute India's largest?nuclear?reform in decades, by adding additional approval requirements for foreign reactors. This would force companies to choose domestic technology and imports over the latter, and restrict the flow of new capital and expertise. The draft framework is a follow-up to 'New Delhi's' new nuclear law passed last year. This opened up the country's tightly controlled nuclear sector to private companies, and sought to attract foreign technology. India expects that it will need to invest nearly $210 billion to increase its nuclear power capability almost tenfold…
Equinor, Aker-BP and Vaar will cooperate in Norway for frontier oil exploration
Equinor Aker BP Vaar Energi? plan to?cooperate in oil and gas exploration on the so-called high impact frontier areas of Norway’s continental shelf. Drilling in areas where there has been little or no exploration is more expensive and carries a higher risk of dry holes. However, it could also yield larger finds. In a joint press release, the three companies said they had agreed to combine their expertise, data and technology, as well as their exploration capabilities, in order to take advantage of high-impact exploration opportunities.
Baker Hughes reports that US energy companies have cut back on drilling for the first time in four-weeks.
Baker Hughes, a 'closely watched' energy services firm, said in its report on Friday that U.S. firms have lowered the number of operating rigs for the first four weeks. The number of oil and gas drilling rigs, a good indicator of future production, dropped by five in the week ending August 21. Baker Hughes stated that the total count is still up by 50 rigs or 9.3% from last year. Baker Hughes said oil rigs dropped by three this week to 452, while gas rigs decreased by one to 128, and miscellaneous or other rigs by one to 9. The rig count in the 'Permian', America's largest oil-producing shale region, has risen by two, to 267. This is the highest since June 2025.
US Natural Gas Futures Reach Four-Week High
U.S. natural gas futures rose to a near four-week high on Wednesday, supported by forecasts for hotter weather and firm oil prices, while investors awaited a federal storage report due this week. Front-month gas futures for September delivery on the New York Mercantile Exchange rose 9.6 cents, or 3.5%, to $2.87 per million British thermal units, their highest level since July 24. Oil prices steadied near a three-week high on uncertainty over shipping through the Strait of Hormuz and other ongoing supply disruptions in the market. "(Natgas) market is currently edging higher...
Baker Hughes: US energy companies leave rig count unchanged for the latest week
?U.S. Energy firms have left the total rig count unchanged for the last week, according to a closely watched report by energy services firm Baker Hughes on Friday. The number of oil and gas drilling rigs, a good indicator of future production, remained unchanged at 588 during the week ending August 7, compared to the previous week. Baker Hughes reported that the total number of rigs was up by?49 or 9% compared to this time last. Baker Hughes reported that oil rigs increased by three this week to 454 - their highest level since May 2025. Gas rigs, on the other hand, fell by three - to 124 – their lowest level since July 2026.
Genel Energy, a Kurdistan-based company, rejects a takeover bid by Norway's DNO
The Norwegian oil firm DNO announced on Friday that it had submitted a takeover bid of PS202 million ($271.8) for its Kurdistan focused rival Genel Energy at the end of last month, but was rejected. Genel shares were up 14% at 57 pence in London trading as of 0725 GMT. This wipes out most of their 17% losses for the year. Oil companies in the Middle East are pursuing mergers and acquisitions at a faster pace. The surge in oil prices that has occurred since the Iran War began has allowed some energy firms to focus on the region. Separately…
Baker Hughes says US energy companies have added rigs six times in the last seven weeks.
Baker Hughes, a leading energy services company, said that U.S. firms added rigs this week for the sixth time in 7 weeks. The number of oil and gas drilling rigs, which is an early indicator of future production, increased by one in the week ending July 31. Baker Hughes stated that the increase of 48 rigs or 9% over this time last week is a result of this week's increases. Baker Hughes reported that oil?rigs increased by one this week to 451 - their highest level since mid-July. Gas rigs were unchanged at 127, and miscellaneous other rigs?remained at 10. The Eagle Ford Shale in South Texas saw a rig count increase of two, to 49.
Baker Hughes reports that US energy companies have cut back on drilling for the first time in six-weeks.
Baker Hughes, a closely-followed energy'services' firm, said in a report on Friday that U.S. firms have cut back the number of operating rigs for the first six weeks. Total oil and gas rig counts, an indicator of future production, dropped by one in the week ending July 24. This is the lowest level since mid-July. Baker Hughes said that despite this week's decline in rig count, the total number was still 45 rigs or 8% higher than this time last. Baker Hughes reported that oil rigs dropped by two this week to 450, their lowest level since mid July…
EU antitrust regulators warn that the Saipem-Subsea 7 merger could lead to a price increase
The'merger' of Italian energy contractor Saipem with Norwegian counterpart Subsea 7 could lead to higher prices and less innovation, EU antitrust regulators warned Wednesday as they opened a full investigation. The deal announced last February would create a global leader in offshore energy services. This includes drilling, engineering and subsea construction for offshore oil and natural gas projects. Both companies have a fleet for these services. The European Commission, the EU's competition enforcer, confirmed that the deal could have "a significant impact" on the competition in certain offshore engineering and construction services markets.
EU antitrust regulators warn that the Saipem-Subsea 7 merger could lead to a price increase
The'merger' of Italian energy contractor Saipem with Norwegian counterpart Subsea 7 could 'lead to higher prices and less innovation. 'EU antitrust regulators warned a day earlier as they opened a full-scale probe. The deal, announced in February of last year, would have created a global leader in offshore energy services. This includes drilling and engineering as well as subsea construction for offshore oil and natural gas projects. Both companies have a fleet for these services. The Commission stated that the transaction could lead to a "loss of significant competition" in the market for SURF service, which may result in higher prices and less innovation.
Baker Hughes reports that US energy companies have increased the number of rigs to their highest level since April 2025.
Energy services firm Baker Hughes reported on Friday that U.S. firms added rigs this week for a fifth consecutive week for the first since early June. The 'total count' now stands at its highest level since April 2025. The total rig counts, which are an early indicator of the future production, increased by seven in the week ending July 17. Baker Hughes reported that the total rig counts are up by?44 or 8% from this time last week. Baker Hughes reported that oil rigs increased by seven this week to 452, the highest level since May 2025. Gas rigs remained at 126, and other miscellaneous drilling rigs stayed at?10.
Baker Hughes reports that US energy companies have added rigs to their fleets for the fourth consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added rigs this week for the fourth consecutive week for the first since early June. Baker Hughes normally releases the report around 1700 GMT on Fridays at?1 pm EDT. The report was released 49 minutes later. Baker Hughes officials did not comment on the cause of the delay. The number of oil and gas drilling rigs, which is a good indicator of future production, increased by one in the week ending July 10 to 581, its highest level since May 2025. Baker Hughes reported that the total number of rigs increased by 44, or 8% over this time last year.
US Natural Gas Prices Drop to Six Week Low
U.S. natural gas futures fell about 4% to a six-week low on Thursday on expectations gas flows to liquefied natural gas (LNG) export plants will remain low through late August due to planned maintenance at Freeport LNG's plant in Texas, and after the release of a federal report showing last week's storage build was much bigger than expected.Front-month gas futures for August delivery on the New York Mercantile Exchange fell 13.9 cents, or 4.3%, to $3.073 per million British thermal units (mmBtu), putting the contract on track for its…
Baker Hughes reports that US energy companies have added rigs to their fleets for the third consecutive week.
Baker Hughes, a provider of energy services, said that U.S. firms?added drilling rigs this week for the third consecutive week. The number of oil and gas rigs, a good indicator of future production, increased by 7 in the week ending July 2. This is its highest level since May 2025. Baker Hughes published the rig counts report one day earlier than normal due to the U.S. The 4th of July holiday is celebrated on Friday, 3rd July. Baker Hughes reported that 'this week, the increase brings the total rig counts up by 41 rigs or 7.6% over a year ago. Baker Hughes reported that oil rigs increased by five this week to 445, a record high since the end of May 2025.
Argentina's Genneia power company reveals revenue increase in US IPO
Genneia, a Argentine 'power 'producer, revealed a jump in annual revenues on Thursday when it filed its U.S. Initial Public Offering filing. It joined a number of other energy companies that have decided to go public this year. The listing follows a successful?second quarter in the U.S. IPO Market, as a steady stream of large deals and SpaceX’s record-breaking listing pushed annual proceeds beyond $100 billion. This year investors have shown a strong appetite for energy firms, particularly those focused on renewables. Companies like?Fervo Energy or SOLV Energy made successful debuts in the New York market.
US Natural Gas Prices Fall With Ample Supply Maintaining Pressure on Market
U.S. natural gas futures fell for a second straight session on Monday, as ample supplies kept pressure on the market despite forecasts for hotter weather in the coming weeks. On its first day as the front-month, gas futures for August delivery on the New York Mercantile Exchange fell 8.2 cents, or 2.5%, to $3.20 per million British thermal units. The contract is down 2.7% so far this month. "The market thinks the heat wave is going to be short-lived and that next week temperatures will cool back to normal. With production remaining strong…
Australian energy firms increase their exploration
Australia is the No.2 liquefied natural gas producer in the world. This increase is due to domestic gas demand, a more favourable investment climate and improving technology. Australia, the world's No. Geoscience Australia has provided a summary of drilling activity, including estimates of contingent resources as of October 20, 2025, except where otherwise noted. The Beetaloo Sub-basin lies in the Northern Territory around 500 km (310 mi) south of Darwin. The Northern Territory Government estimates that the gas reserves are over 7 trillion cubic foot (Tcf). Santos plans to drill up to 12 appraisal wells within the sub-basin in this and the next year.
Baker Hughes reports that US energy companies have added the most rigs per week in a row since June 2022.
Baker Hughes, an energy services company, said in its report on Friday that the U.S. energy companies?had experienced their largest weekly increase of rigs since June 2022. The number of oil and gas rigs, a good indicator of future production, increased by 10 during the week ending June 26. This is the biggest weekly increase in the last four years. Total rig count reached 573, its highest level since May 2025. Baker Hughes said this week's rise in rig counts puts the total up by 26 rigs or 5% over this time last. Oil rigs rose by seven this week to 440, the highest level since June 2025. Gas rigs increased by?three, to 125.