Asset Management
After a record year for LNG project approvals in 2025, multiyear repairs to war-damaged liquefaction facilities in Qatar and the UAE threaten to slow the growth of global LNG capacity.
The declaration builds on a memorandum of understanding the partners signed with Egypt in May to process Block 10 gas at the country’s LNG export and domestic gas facilities.
Alongside the new subsea awards, Equinor strengthened its position in the 400-million-bbl Bay du Nord development by acquiring BP’s interest in the project.
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The company is creating two new business groups: Natural Resources, focused on developing the upstream oil and gas portfolio sustainably, and Energy Evolution, dedicated to supporting the evolution of the company’s power generation, product transformation, and marketing. -
Sleipner’s share in net-zero emissions savings will be more than 150,000 tonnes per year.
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With the acquisition of Magnolia LNG, along with its Texas LNG Brownsville project, Glenfarne Group expands its export capacity to 12 mpta.
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The FPSO vessel will reduce capital expenditure and breakeven costs and increase commercially feasibility, leading to FID.
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Work has resumed on Energan’s Singapore FPSO; subsea installation for the Karish project continues as planned.
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Weatherford announced that Mark A. McCollum, president, CEO, and a director, has left the company, effectively immediately.
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The leadership change comes amid a downturn in global crude prices which has lowered the national oil company’s revenues this year. Taking over the position will be the current chief financial officer.
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Although oil prices were down on 8 June, the market is expected to see higher prices in response to the OPEC+ decision to continue production cuts.
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McDermott’s completion comes 19 months after it was first awarded. SapuraOMV achieved first production from the Larak gas field in January.
