Quick Links
Latest news about Oil and gas Industries-28.03.25
On March 24, 2025 Shell CEO Wael Sawan is nearing the end of a two-year restructuring effort focused on cost-cutting, operational reliability, and divesting underperforming assets. Analysts and investors are keen to hear updates on Shell’s growth plans, particularly in its liquefied natural gas (LNG) business, where it remains the global leader, as well as reassurances about its long-term oil reserves. With LNG demand projected to rise 60% by 2040, attention will be on Shell’s major projects like LNG Canada and potential expansions. However, concerns linger over its upstream oil portfolio, as recent divestments and drilling setbacks have left limited growth visibility beyond 2030, possibly necessitating acquisitions.
While Shell has maintained a steady strategy under Sawan—contrasting with BP’s turbulent leadership changes—its investor day in New York signals a shift toward prioritizing fossil fuels over renewables. The location reflects a more oil-friendly investment climate compared to Europe, aligning with Shell’s pivot away from clean energy. Shareholders have rewarded this approach, with Shell’s stock up 20% over two years, outperforming BP’s 10% decline. As rivals like Exxon and Chevron expand in the Americas, Shell’s challenge will be proving it can sustain growth in LNG while addressing gaps in its oil portfolio.
Visit: https://worldoil.com/news/2025/3/24/shell-ceo-seen-focusing-on-lng-as-key-part-of-growth-strategy/
On March 25, 2025, Enteq Technologies successfully completed the latest trials for its next-generation SABER Tool, a Rotary Steerable System (RSS), at the Catoosa Test Facility. The tests confirmed the tool’s ability to generate controlled doglegs of at least 3 degrees per 100 ft, with performance improving at higher flow rates and mud weights, making it a cost-effective solution for both lateral and vertical drilling. CEO Andrew Law highlighted that the 17 test runs have provided critical data to optimize performance, leading to further refinements such as an upgraded generator and enhanced accelerometer package for vertical applications.
Enteq is advancing the SABER system with ongoing customer trials in Australia and has introduced the SABER-Vertical and a standalone generator to broaden its applications. Law expressed confidence in SABER’s potential to deliver a reliable, low-cost RSS solution, emphasizing its ability to set new industry standards for efficiency and value. The company aims to expand the SABER technology across multiple drilling sectors, offering operators versatile and high-performance alternatives.
On March 26, 2025 BP secured final government approval for its contract to redevelop several major oil fields in Kirkuk, northern Iraq. The agreement, signed with North Oil Company (NOC) and North Gas Company (NGC), covers the rehabilitation of fields like Baba, Avanah, Bai Hassan, Jambur, and Khabbaz, focusing on oil, gas, power, and water infrastructure, with potential exploration opportunities. BP CEO Murray Auchincloss emphasized the company’s long-standing presence in Iraq and its commitment to enhancing production through world-class operations, aligning with BP’s strategy to strengthen its upstream portfolio. The initial phase targets over 3 billion barrels of oil equivalent, with broader resources estimated at up to 20 billion barrels.
Under the approved agreement, BP will collaborate with NOC and NGC to establish a new operator, primarily staffed by local personnel with BP secondees, to begin development. The project aims to leverage BP’s expertise in managing large-scale fields while supporting Iraq’s energy sector growth. The signing ceremony in Baghdad was attended by Iraqi Prime Minister Mohammed Shia’ Al Sudani, Deputy PM for Energy Hayan Abdul Ghani, and BP executives, marking a significant step in expanding Iraq’s oil and gas production capabilities.
Visit our website for the latest news updates in the oil and gas industry and to explore Supermec's wide range of explosion-proof products at affordable prices. We are committed to meeting safety standards, ensuring workplace safety and peace of mind for our clients. For help selecting the right products for your business, contact our team for expert assistance.