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Aug 28 (Reuters) - California on Friday sued the Trump administration and an offshore wind developer over a deal that canceled a planned project off the state's Central Coast in exchange for a $120 million federal reimbursement and a commitment to invest in fossil fuel projects. California Attorney General Rob Bonta filed the lawsuit in... Continue Reading →
Aug 29 (Reuters) - Venezuelan interim President Delcy Rodriguez said on Saturday that an energy agreement with the U.S. would remain in force for 25 years, target an increase in crude output to 1.5 million barrels per day (bpd) and preserve the country's sovereignty over its natural resources. Rodriguez hailed the accord in a late-night address as... Continue Reading →
Aug. 27 (oilprice.com) The Trump administration is reportedly in active discussions with Venezuela’s interim government to acquire a direct U.S. ownership stake in key Venezuelan oil fields. According to senior U.S. officials cited by Axios, the talks involve equity stakes in a select group of high-yield fields containing approximately 90 billion barrels of proven crude—a transaction... Continue Reading →
Aug. 27 (oilprice.com) Alongside boosting exploration and production offshore its home market Norway, Equinor is pursuing an international growth strategy, aiming to significantly increase its overseas oil and gas output by focusing on fewer but more lucrative regions such as the U.S., Brazil, and Angola. In recent years, Equinor has streamlined and high-graded its portfolio... Continue Reading →
Aug. 24 (oilnow.gy) A year after Chevron completed its acquisition of Hess, Guyana is emerging as a distinct part of the company’s longer-term production outlook, with a resource base that can support successive offshore developments through the 2030s. Chevron acquired Hess in July 2025, gaining a 30% interest in Guyana’s Stabroek Block along with producing and... Continue Reading →
Aug. 24 (oilprice.com) More than half a year after the U.S. captured and extracted Nicolas Maduro from Venezuela, the biggest American oil firms haven’t returned to operating oilfields in the world’s largest oil reserves holder. Chevron, which has operated in Venezuela throughout Maduro’s reign, is extracting and exporting oil to the U.S., but neither ExxonMobil... Continue Reading →
Aug. 10 (offshoreWIND.biz) Ørsted expects three of its offshore wind farms currently under construction to reach full commissioning in the second half of 2026, with Borkum Riffgrund 3 in Germany, Greater Changhua 2b and 4 in Taiwan, and Revolution Wind in the US all approaching completion. The updates were provided by Ørsted as part of... Continue Reading →
Aug 19 (Reuters) - Oil service provider SLB and private equity firm Formentera Partners are working to either reactivate oil rigs in Venezuela or import additional rigs into the country in the coming months, executives from both firms said on Wednesday during a conference in Houston. Energy-focused Formentera is in discussions with international service providers to... Continue Reading →
Aug. 19 (oilprice.com) Venezuela has signed deals with oilfield service major SLB and Hunt Oil Co. as part of efforts to boost investment in its key energy industry, Bloomberg reported, citing a TV statement made by the South American country’s oil minister, Paula Henao. One of the deals involves development of two fields and the other... Continue Reading →
Aug 17 (Reuters) - The U.S. diesel crack, a key measure of refining profitability, hit an all-time high of $102.20 a barrel on Monday as global supply disruptions from the wars in Iran and Ukraine run into peak agricultural consumption season. Measured as the premium of U.S. diesel futures over U.S. West Texas Intermediate crude oil futures , the... Continue Reading →
