News

April 21, 2025 — Abu Dhabi National Oil Company (ADNOC) Gas is making significant progress on the expansion of its gas processing infrastructure in the United Arab Emirates, focusing on the enhancement of the Habshan gas facilities. This initiative aims to increase gas processing capacity to meet the rising domestic and international demand for natural gas.

April 21, 2025 – Global consulting and engineering firm Wood has secured two framework agreements valued at a combined $11 million from TotalEnergies EP Ratawi Hub to provide critical engineering and procurement services for the redevelopment of the Ratawi oil field in southern Iraq. The contracts span a three-year term and are part of the Associated Gas Upstream Project (AGUP), a key element of Iraq’s Gas Growth Integrated Project (GGIP).

Viva Energy is advancing its $350 million Ultra-Low Sulfur Gasoline (ULSG) project at the Geelong Refinery in Victoria, Australia, aiming to commence production by late 2025. This initiative is set to reduce the sulfur content in gasoline to 10 parts per million (ppm), aligning with new national fuel standards effective December 2025. The project includes the construction of a new sulfur removal unit and supplementary equipment, with significant components already delivered and installed. The upgrade is expected to enhance fuel quality, reduce vehicle emissions, and support the introduction of advanced engine technologies in Australia.​

April 2025 – BW Energy has approved the Final Investment Decision (FID) for its Golfinho Boost project, a strategic initiative aimed at enhancing oil recovery from the Golfinho field, located offshore Brazil in the Espírito Santo Basin. The project is designed to increase production by approximately 3,000 barrels of oil per day by 2027 and unlock an additional 12 million barrels of recoverable reserves. The total investment is expected to reach $107 million.

The Middle East holds a pivotal position in the global oil and gas industry.

Iraq and BP have reached a significant agreement to develop multiple oil fields in Kirkuk province, aiming to boost production capacity and modernize the region’s energy infrastructure.

Eni and Petronas have signed a memorandum of understanding to establish a joint venture overseeing selected upstream assets in Indonesia and Malaysia.

BP has announced a strategic pivot, increasing its investment in oil and gas operations to approximately $10 billion annually, while reducing its commitment to renewable energy projects.

Vermilion Energy Inc. has finalized its acquisition of Westbrick Energy Ltd. for a total consideration of $746 million USD ($1.075 billion CAD).

ADNOC Gas, a key subsidiary of Abu Dhabi National Oil Company (ADNOC), has announced a significant $2.1 billion contract aimed at enhancing its natural gas infrastructure.

Hindustan Petroleum Corporation Limited (HPCL), a leading Indian oil and gas company, has unveiled plans to invest ₹1.3 lakh crore in expanding its refining capacity and strengthening its presence in the renewable energy sector.

Shell, a leading global energy company, forecasts that global demand for liquefied natural gas (LNG) will surge by 60% by 2040, with Asia playing a dominant role in this expansion. As economies transition toward cleaner energy sources, LNG is expected to play a crucial part in meeting the growing demand for reliable and lower-carbon energy solutions.

Kazakhstan, the world’s largest uranium producer, is considering nuclear power as a long-term solution to its increasing energy deficit. As electricity demand rises due to industrial growth and economic expansion, the country is exploring nuclear energy to ensure a stable and sustainable power supply.

March 21, 2025 – Baker Hughes, a leading global energy technology company, has been awarded a substantial multi-year contract by Petrobras to supply advanced completions technology for deepwater oil fields offshore Brazil. This agreement aims to enhance production efficiency and well performance in some of the region’s most technically challenging environments.

March 21, 2025 – Baker Hughes and NextDecade Corporation have signed a framework agreement to support the expansion of the Rio Grande LNG facility in Texas. The agreement involves Baker Hughes supplying state-of-the-art gas turbines and refrigerant compressors to enhance the efficiency and capacity of the facility’s upcoming liquefaction trains. This marks a significant step toward strengthening the United States' position in the global LNG market.

March 21, 2025 – Cairn Oil & Gas, a subsidiary of Vedanta Group and India’s leading private oil and gas producer, has announced a strategic partnership with 2H Offshore to advance the development of a major offshore oil field on India’s west coast. The project, one of the largest under India’s Discovered Small Fields (DSF) initiative, aims to unlock an estimated 20 million barrels of oil equivalent (MMBOE), strengthening India’s domestic energy security.

South Korea’s S-Oil Corporation continues to advance its major petrochemical expansion project, the Shaheen Olefins Complex, in Ulsan. The project, which officially broke ground in March 2023 and is expected to be completed by 2026, represents a significant step in South Korea’s refining and petrochemical industry, aiming to enhance the country’s capacity to produce high-value petrochemical products. The development aligns with global trends toward integrated refining and petrochemical operations, maximizing efficiency and profitability.

OMV, Austria’s leading oil, gas, and petrochemicals company, has announced a significant expansion at its Schwechat refinery with the addition of a new processing plant. This development marks a strategic step in enhancing the refinery’s operational efficiency and product output, reinforcing OMV’s commitment to long-term energy security and industrial sustainability.

China Petroleum & Chemical Corporation (Sinopec) has announced the discovery of significant new shale oil reserves in multiple locations across China, reinforcing the country’s potential as a major player in unconventional oil production. These findings are expected to strengthen China’s domestic energy security and reduce reliance on imported crude oil.

TechnipFMC has been awarded a significant integrated engineering, procurement, construction, and installation (iEPCI™) contract by Shell for the development of the Gato do Mato offshore field, located in the Santos Basin, Brazil. This contract represents a crucial milestone in advancing deepwater production in one of the most promising oil regions globally.