Norwegian Oil Industry Workers to Go on Strike Starting June 21
Norwegian oil and gas industry trade unions announced on Monday that workers on offshore drilling rigs will begin a strike on June 21, if no agreement is reached with employers regarding next year’s wages. About 438 members of three unions — Styrke, SAFE, and DSO — may take part in …
Chevron and Exxon Plan to Enter Gas Production Projects in Algeria This Year
Algeria’s State Company Sonatrach Plans to Sign an Agreement on the Development of a Large Hydrocarbon Deposit with Chevron, Said the Country’s Minister of Energy Mohamed Arkab The country also expects to sign contracts with ExxonMobil by the end of the year for the development of very important fields that …
New Oil Asset in the Arctic
Norway has officially brought one of its most important Arctic energy projects into production. On March 31, 2025, the Johan Castberg oil field in the Barents Sea began operations, marking a major milestone in the country’s strategy to develop Arctic resources and solidify its position as a key energy supplier …
Norwegians Believe in Strong Demand for Oil and Gas Until 2035
Norwegian Equinor will invest up to $7 billion per year in exploration and production on the Norwegian shelf until 2035. Norway‘s Equinor plans to invest up to $6.7 billion annually in oil and gas offshore Norway by 2035, anticipating continued high demand for fossil fuels. Equinor said it could produce …
Equinor and ExxonMobil Transfer Shares in a Marine Block in Suriname, Media Reported
Norwegian oil and gas group Equinor is leaving Suriname and, together with ExxonMobil, is transferring shares in the deepwater exploration block to the American energy company Hess, Reuters reports. “Equinor and ExxonMobil announced on Wednesday that they had transferred their shares in a deepwater oil and gas exploration block off …
Libya Has Limited Production at Its Largest Oil Field Due to Instability
In Libya, oil production was partially stopped at the country‘s largest Sharara field on August 4 due to unauthorized entry. The maximum capacity of Sharara is 320 thousand barrels per day. According to S&P Global Commodity Insights, production losses now range from 28-70 thousand b/s. Sharara is a joint project …
Libya Has Limited Oil Production at the Largest Field
After limiting production at Libya‘s largest Sharara field, the indicator fell by 30 thousand barrels per day to 230 thousand barrels per day as of the evening of August 3. Libya has begun a partial shutdown of production at its largest oil field, Sharara, Bloomberg reported, citing three sources directly …
Equinor Lets Contracts for Raia Drilling Offshore Brazil
Norwegian energy company Equinor (35%, operator), on behalf of its partners Repsol Sinopec Brasil (35%) and Petrobras (30%), has won a drilling contract with Valaris, represented by Ensco UK Drilling Limited and Ensco do Brasil Petróleo e Gás LTDA, for the Raia project in Brazil. Drilling at Raia is scheduled …
Indian Ongc Videsh Acquired a Share in the Field in the Caspian Sea
The total investment will be up to $60 million Indian state oil and gas company ONGC Videsh has signed an agreement to purchase from Norway’s Equinor a 0.615% stake in the Azeri-Chirag-Gunashli (ACG) offshore oil field in the Azerbaijani sector of the Caspian Sea. The company announced this in a …
Sale of Eni and Equinor’s Onshore Assets in Nigeria Is Approved
The Nigerian Petroleum Regulatory Commission (NUPRC) has given the green light for the sale of Eni and Equinor assets to Nigeria’s Oando. The deals had been pending for months as they required approval from the Minister of Petroleum under the recently passed Petroleum Act. Approvals for ExxonMobil’s $1.3 billion sale …