Author: omc_admin

(WO) — MODEC has been awarded a contract by ExxonMobil Guyana Limited to develop a Floating Production, Storage, and Offloading (FPSO) vessel for the Hammerhead project offshore Guyana. The contract, issued as a Limited Notice to Proceed (LNTP), allows MODEC to begin early-phase work on the FPSO while awaiting regulatory and government approvals. Phase one of the project will involve front-end engineering and design (FEED), followed by engineering, procurement, construction, and installation (EPCI) in phase two—pending final project sanction by ExxonMobil Guyana and its Stabroek Block co-venturers. The Hammerhead FPSO will have a production capacity of 150,000 barrels…

(Bloomberg) – bp Plc is off to a “great start” in its strategy reset and can follow through on the turnaround despite the recent drop in oil prices, said Chief Executive Officer Murray Auchincloss. BP CEO Murray Auchincloss U.S. President Donald Trump’s trade war has driven Brent crude below $70 a barrel, the price assumption that underpins bp’s plans to boost cash flow and reduce debt by selling assets. While the financial framework has tightened, the company is on track and its $20 billion divestment program could actually be assisted, Auchincloss said.  “Given the nature of the assets…

(Bloomberg) – Woodside Energy Group Ltd. is in talks with the overseas unit of Kuwait Petroleum Corp. for selling a stake in its proposed liquefied natural gas export project in the U.S., according to people with knowledge of the matter. Kuwait Foreign Petroleum Exploration Co., known as Kufpec, is also considering securing LNG supply from the project in Louisiana, along with taking a stake, the people said, asking not to be named because the talks are private. Earlier this month, Woodside sold 40% of Louisiana LNG Infrastructure LLC to Stonepeak and said the buyer will invest $5.7 billion in the…

GeoPark Limited, an independent oil and gas company with over 20 years of successful operations across Latin America, announces the appointment of Felipe Bayon as its new Chief Executive Officer and a member of the Board of Directors, effective June 1, 2025. This appointment follows the decision of Andrés Ocampo to step down for personal reasons. Mr. Bayon is recognized as one of the most effective energy executives in Latin America with more than three decades of accomplishments in the international oil and gas industry. From 2017 to 2023, Mr. Bayon was CEO of Ecopetrol, one of the…

The Republic of Congo will showcase new exploration and gas monetization opportunities at African Energy Week (AEW) 2025, as Minister of Hydrocarbons Bruno Jean-Richard Itoua prepares to engage global investors and outline the country’s growth strategy. TotalEnergies’ Moho Nord development, offshore Congo His participation reinforces Congo’s drive to expand hydrocarbon production and mobilize investment across the oil and gas value chain. Minister Itoua’s engagement at AEW comes as Congo prepares to launch its 2025 licensing round – central to its strategy of increasing oil output from 274,000 to 500,000 bpd by 2027. The round will unlock exploration and…

Flotek has acquired power generation assets and related intellectual property from ProFrac GDM, a subsidiary of ProFrac, for $105 million. Flotek concurrently entered into an agreement for a six-year dry lease of the acquired assets with ProFrac GDM. ESD Skid for Gas Conditioning and Field Gas Custody Transfer. Image courtesy of Flotek The acquired assets include digitally enhanced mobile natural gas conditioning and distribution units providing real-time gas monitoring and dual fuel optimization for remote, behind-the-meter power generation with applications across multiple markets. With this acquisition, Flotek will leverage its real-time measurement technology to treat and optimize fuels…

Labour is putting people, the economy and the environment in increasing peril by failing to act on the effects of the climate crisis, the UK’s climate watchdog has said.Flooding, droughts and heatwaves are all increasing in severity due to climate breakdown, but current plans to protect people, land and infrastructure against extreme weather have been judged inadequate in a scathing assessment of the UK’s preparedness.Lady Brown, the chair of the adaptation subgroup of the Climate Change Committee (CCC), the statutory adviser to government, said: “We are seeing no change in activity from the new government, despite the fact that ……

(Bloomberg) — Vitol Group has stepped up oil purchases in Venezuela in the final weeks of a U.S. license that allows the world’s largest independent oil trader to do business in the sanctioned nation. Vitol is set to load at least 2.5 million barrels of Venezuelan oil this month, according to documents seen by Bloomberg. It has more than doubled buying in April compared with March, when it took 1 million barrels, the data shows. Vitol’s license to operate in Venezuela hasn’t been previously reported. The company aims to move Venezuelan oil for as long as it can…

(Bloomberg) – CNOOC Ltd., China’s biggest offshore driller of crude oil, saw profits fall in the first quarter after a drop in global prices. The energy giant reported a 7.9% decline in net income to 36.56 billion yuan ($5.03 billion) after revenue fell 4.1% to 106.85 billion yuan, according to a statement on Tuesday. CNOOC has led Beijing’s efforts to boost oil and gas output and bolster energy security, and its focus on extraction helped deliver near-record annual profits last year. But that dependence on upstream prices was a burden in the first quarter.  The average price of Brent…

Woodside has made a final investment decision to develop the three-train, 16.5 million tonne per annum (MMtpa) Louisiana LNG development. Woodside is targeting first LNG in 2029. Development of Louisiana LNG will position Woodside to deliver approximately 24 Mtpa from its global LNG portfolio in the 2030s, and operating over 5% of global LNG supply.1 The development has expansion capacity for two additional LNG trains and is fully permitted for a total capacity of 27.6 Mtpa. At full capacity, the foundation project is expected to generate approximately $2 billion of annual net operating cash in the 2030s. It will…