oil-gas
12 September 2025
World Oiloil-gas
Sep 12, 2025World Oil
(Bloomberg) - Kuwait Petroleum Corp. (KPC) is weighing a multibillion-dollar pipeline lease deal that could raise as much as $7 billion to support its ambitious upstream oil investment program. The state-backed company, OPEC’s fifth-largest producer, is considering leasing 13 pipelines for up to 25 years, according to people familiar with the matter. Centerview Partners LLC is advising on the potential transaction.
The deal would mirror recent monetization strategies by regional peers Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC), which have leased key midstream assets to global investors to free up capital for upstream growth. KPC plans to invest $65 billion across its portfolio, with about $33 billion earmarked for boosting oil production capacity toward its long-term goal of 4 million barrels per day by 2035.
CEO Sheikh Nawaf Al-Sabah has signaled flexibility in funding strategies, pointing to pipeline monetization as a competitive option. “If it comes from a pipeline deal, which would be open to both domestic and foreign investors, I’ll pursue that,” he said in an earlier interview.
The company’s upstream investment push comes amid growing demand for Gulf crude and heightened competition for capital in the global energy transition. Any final decision will require government approval, but a pipeline deal would underscore Kuwait’s commitment to sustaining and expanding upstream output in line with its OPEC role.
The deliberations follow recent major regional infrastructure transactions, including BlackRock’s $11 billion lease-and-leaseback deal with Aramco on the Jafurah gas project, as well as prior pipeline divestments by ADNOC. By pursuing similar partnerships, KPC is positioning itself to unlock capital while accelerating upstream drilling and production projects critical to its long-term energy strategy.
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Us: Epa Releases Proposal To End The Costly Greenhouse Gas Reporting Program, Saving Up To $2.4 BillionIn accordance with President Trump’s Day One executive orders, U.S. Environmental Protection Agency (EPA) Administrator Lee Zeldin has announced a proposed rule to end the burdensome Greenhouse Gas Reporting Program (GHGRP), saving American businesses up to $2.4 billion in regulatory costs while maintaining the agency’s statutory obligations under the Clean Air Act (CAA). Unlike other mandatory information collections under the CAA, the GHGRP is not directly related to a potential regulation and has no material impact on improving human health and the environment. If finalized, the proposal would remove reporting obligations for most large facilities, all fuel and industrial gas suppliers, and CO2 injection sites.
'Alongside President Trump, EPA continues to live up to the promise of unleashing energy dominance that powers the American Dream. The Greenhouse Gas Reporting Program is nothing more than bureaucratic red tape that does nothing to improve air quality,' said EPA Administrator Zeldin. “Instead, it costs American businesses and manufacturing billions of dollars, driving up the cost of living, jeopardizing our nation’s prosperity and hurting American communities. With this proposal, we show once again that fulfilling EPA’s statutory obligations and Powering the Great American Comeback is not a binary choice.'
By reducing the overall regulatory burden, current regulated parties will be able to focus compliance expenditures on actual, tangible environmental benefits. As the agency continues to Power the Great American Comeback, this proposal represents a significant step toward streamlining operations, cutting unnecessary red tape, unleashing American energy, and advancing EPA’s core mission of protecting human health and the environment.
The GHGRP requires 47 source categories, covering over 8,000 facilities and suppliers in the U.S. to calculate and submit their greenhouse gas (GHG) emissions reporting annually. Following a careful review, EPA proposed that there is no requirement under CAA section 114(a) to collect GHG emission information from businesses nor is continuing the ongoing costly data collection useful to fulfill any of the agency’s statutory obligations. Therefore, EPA is proposing to remove all GHG reporting requirements, except for those subject to the Waste Emissions Charge (WEC).
CAA section 136 only requires data collection for segments of subpart W (petroleum and natural gas systems) subject to the WEC. On July 4, 2025, President Trump signed the One Big Beautiful Bill Act, which amended CAA section 136(g), so that the WEC now applies to emissions reported for calendar year 2034 and for each year thereafter. In accordance with the law, EPA will not be collecting subpart W data until 2034.
EPA will initiate a public comment period to solicit input. Further information on the public comment process and instructions for participation will be published in the Federal Register and on the EPA website.
For more information on the proposed rule and how to comment, please see EPA’s fact sheet here.
Background
On March 12, 2025, Administrator Zeldin announced that the agency was reconsidering the GHGRP. This was announced in conjunction with a number of historic actions to advance President Trump’s Day One executive orders and Power the Great American Comeback. While accomplishing EPA’s core mission of protecting human health and the environment, the agency is committed to fulfilling President Trump’s promise to unleash American energy.
Congress authorized funding for the creation of the GHGRP in the Fiscal Year 2008 Consolidated Appropriations Act. The Obama EPA promulgated the program and began collecting data in 2010. The GHGRP currently requires reporting of GHG data from certain large GHG emission sources, fuel and industrial gas suppliers, and CO2 injection sites.
November 18, 2024, the Biden EPA issued the final WEC rule to implement the 2022 Inflation Reduction Act’s methane tax provisions. Congress amended the CAA by adding section 136, “Methane Emissions and Waste Reduction Incentive Program for Petroleum and Natural Gas Systems.” Among other things, CAA section 136 (c)-(g) required EPA to impose and collect a waste emission charge on methane emissions that exceeded specified thresholds from applicable facilities that reported more than 25,000 metric tons of carbon dioxide equivalent (MTCO2e) of GHGs under the petroleum and natural gas systems subpart W source category.
On March 14, 2025, President Trump signed a joint resolution of disapproval under the Congressional Review Act, disapproving the November 2024 final WEC rule.
Original announcement link
Source: EPA
Energypedia News
oil & gas
13 September 20254 min readUs: Epa Releases Proposal To End The Costly Greenhouse Gas Reporting Program, Saving Up To $2.4 Billion
Energypedia News
13 September 2025
oil-gas
Kuwait Petroleum Eyes $7 Billion Pipeline Deal To Fund Upstream Oil Expansion(Bloomberg) - Kuwait Petroleum Corp. (KPC) is weighing a multibillion-dollar pipeline lease deal that could raise as much as $7 billion to support its ambitious upstream oil investment program. The state-backed company, OPEC’s fifth-largest producer, is considering leasing 13 pipelines for up to 25 years, according to people familiar with the matter. Centerview Partners LLC is advising on the potential transaction.
The deal would mirror recent monetization strategies by regional peers Saudi Aramco and Abu Dhabi National Oil Co. (ADNOC), which have leased key midstream assets to global investors to free up capital for upstream growth. KPC plans to invest $65 billion across its portfolio, with about $33 billion earmarked for boosting oil production capacity toward its long-term goal of 4 million barrels per day by 2035.
CEO Sheikh Nawaf Al-Sabah has signaled flexibility in funding strategies, pointing to pipeline monetization as a competitive option. “If it comes from a pipeline deal, which would be open to both domestic and foreign investors, I’ll pursue that,” he said in an earlier interview.
The company’s upstream investment push comes amid growing demand for Gulf crude and heightened competition for capital in the global energy transition. Any final decision will require government approval, but a pipeline deal would underscore Kuwait’s commitment to sustaining and expanding upstream output in line with its OPEC role.
The deliberations follow recent major regional infrastructure transactions, including BlackRock’s $11 billion lease-and-leaseback deal with Aramco on the Jafurah gas project, as well as prior pipeline divestments by ADNOC. By pursuing similar partnerships, KPC is positioning itself to unlock capital while accelerating upstream drilling and production projects critical to its long-term energy strategy.
World Oil
oil & gas
12 September 20252 min readKuwait Petroleum Eyes $7 Billion Pipeline Deal To Fund Upstream Oil Expansion
World Oil
12 September 2025
oil-gas
Kuwait Soil Remediation Program Accelerates With Eight Million Tonnes TreatedRestoration continues to progress in the world’s biggest anthropogenic oil spill in Kuwait as over 8 million tonnes of soil have been cleaned through washing and bioremediation as part of KAK-LAMOR JV/C’s clean-up efforts.
Over a decade ago, the Kuwait Environmental Remediation Program (KERP) was established by the United Nations Compensation Commission (UNCC), Kuwait National Focal Point (KNFP) and Kuwait Oil Company (KOC) to address the extensive damage resulting from the Gulf War.
The conflict left Kuwait’s landscape heavily contaminated with oil, including wet and dry oil lakes, contaminated soil, and sludge. Following the destruction of some 700 oil wells in the early 1990s, approximately 26,000,000m3 of soil was contaminated with crude oil, signalling the launch of one of the most extensive remediation programmes involving the cooperation and expertise of a consortium of international partners.
In Kuwait, three billion dollars of funding from the UNCC is contributing towards the clean-up of 300km2 with about 26 million cubic meters of oil-contaminated soil.
Part of this remediation work is managed by KAK-LAMOR JV/C, a joint venture between Kuwaiti EPC contractors Khaled Ali Al-Kharafi & Brothers Co. and Finnish remediation specialists Lamor.
KAK-LAMOR JV/C are undertaking two remediation projects, one in northern Kuwait, and another in southern Kuwait. These two projects account for approximately one quarter of the 300km2 contaminated area.
CDE, a leader in wet processing solutions, was appointed by KAK-LAMOR JV/C to supply two soil washing plants to support soil remediation efforts, one each in north and south Kuwait, in conjunction with its local partner Gulf Center United Industrial Equipment Co.
Construction of the soil washing plants started in 2023, with the facility in the north operating later that year, and the southern facility operational from early 2024. Both of these plants range from 50-100 tonnes per hour (tph) depending on the fines content of the feed material.
As the material is very diverse and has varying age particle size distribution (PSD), both soil washing and bioremediation are being used in this project, both of which complement each other. Whilst the majority of the material will be processed through bioremediation, soil washing is preferential for soils with greater than 5% level of contamination.
Darren Eastwood, Business Development Director at CDE commented: “The significance of this project cannot be understated. This program, the largest of its kind, aims to remediate and restore the affected areas, focusing on both environmental and socio-economic rehabilitation. The comprehensive approach of KERP includes cleaning, remediating, and revegetating the impacted zones to restore ecological balance and support the well-being of future generations.
“We have significant experience with this type of material which can be challenging to process, but we have a track record for successfully transforming this matter into valuable products which can be repurposed. And we can already see from the success of this project that washing works and is delivering the results we need. This cleanup effort is not just about restoring the land, it has major health and social implications, ensuring safer environments for communities and supporting Kuwait’s long-term sustainability goals.”
Soil washing offers a highly efficient remediation strategy, it can provide a throughput of up to 250 tph in one line which ensures fast treatment times and makes it ideal for large volumes, while the plant’s compact footprint minimises land use.
Since washing preserves the biological structure of the soil, treated soils remain biologically intact and suitable for recultivation. Soil washing also scores highly on ESG metrics thanks to its material recovery and reduced environmental liabilities.
Additionally, it’s readily integrated with downstream treatments, such as bioremediation or thermal desorption units (TDU), when needed as part of a treatment train.
Material processed through soil washing in the southern facility has an average clean output of <1%, meaning there is less than 1% contamination once washed. In the northern facility, the washed soil has an average clean output of <1%, which is then on some occasions processed by bioremediation.
Whilst work is well underway with this project, it has not been without challenge as Khaled Tubaileh, Deputy CEO, Khalid Ali al-Kharafi & Brothers explains.
“We have brought together a global consortium of contractors who are the best in the business to complete this work, but it has become more than that. We’ve developed long lasting relationships that are centred on our passion and dedication to seeing the success of this landmark project.
“These robust relationships have made it easier to navigate the challenges that we’ve been faced with. For example, when surveying the ground, we have found historical bombs which need to be managed carefully, and also the complexities that come with managing a team and fleet at the size we’re operating. As well as this, it is an intricate process and we are only able to process contaminated soil, so when extracting material, we have to be very precise, and careful not to disturb clean soil.”
One key challenge however was water management. Kuwait has no permanent rivers or lakes and receives minimal rainfall. Groundwater reserves are limited and primarily located in the north, with restricted recharge due to low precipitation.
But whilst water resource in Kuwait is limited, its water consumption per capita is among the highest in the world[1], which puts even more pressure on businesses to preserve as much water as possible. This is why water management was at the heart of the design.
During the washing process, each tonne of soil requires two tonnes of water. To secure sufficient water supplies, two 60 m³ lagoons were constructed. These lagoons store treated wastewater that is continuously recycled back into the washing operation as the plant itself is designed to recycle up to 90% of the water. This closed-loop system champions sustainability while significantly cutting operational expenses by eliminating the need for external water deliveries or fresh-water intake.
Discussing the collaborative part of this venture, Richard Hill, Chief Operations Officer at Lamor says: “It’s been an honour to be a part of this flagship project and to see the progress that has already been made. I think one of the key aspects of how this consortium has gelled is our like-mindedness. When we were appointing CDE for this project, it stood out to us that all manufacturing was completed in-house, and that’s the same approach we take at Lamor. It’s values like this that has made it easier to adapt and evolve with this initiative.”
Completion of this project will offer significant opportunity in Kuwait, with recultivation projects already underway, and the Kuwaiti government plans to grow trees and introduce animals back to the area.
It is expected these sections of the soil remediation project will be completed in early 2026.
Saudi Gulf Projects
oil & gas
11 September 20256 min readKuwait Soil Remediation Program Accelerates With Eight Million Tonnes Treated
Saudi Gulf Projects
11 September 2025
oil-gas
Energean Nets $4B In New Israeli Gas Offtake DealsEastern Mediterranean focused gas producer Energean secured $4 billion worth of new Israeli gas offtake contracts in the first half of the year, the group said on Thursday, bringing its contract pipeline to $20 billion over the next two decades.
However, the London-listed group cut its annual production forecast for the second time in nearly four months because of a temporary production suspension in Israel in June.
Energean, which aims to expand in its core locations, including Israel and Egypt and is seeking new business in West Africa, also reported a 11% drop in its core profit in six months to June 30, while after-tax profit jumped nearly 24%.
It now expects this year's production at 145,000 to 155,000 barrels of oil equivalent per day (boed), down from 160,000-175,000 boed seen in May, after Israel ordered it to stop production at its Karish offshore field during its conflict with Iran.
Energean reported first-half adjusted EBITDAX (Earnings Before Interest, Taxes, Depreciation, Amortisation, and Exploration Expense) of $505 million and after-tax profit of $110 million.
In Egypt, the group estimates there is a further 3 trillion cubic feet of gas under its existing platforms, CEO Mathios Rigas told Reuters.
Offshore Israel, Energean was weighing drilling into yet untapped formations in deep Mesozoic rocks in Block 23, which could be a "new play opener for the whole East (Mediterranean)", Rigas said.
Energean would seek a partner, though, for such a complex well, which probably have to wait until stability returned to the region, he said.
Energean also expects up to 2 billion cubic metres a year from its Katlan field off Israel, due to start production in 2027, to be carried on the planned Nitzana pipeline from Israel to Egypt after that is yet to be built, Rigas said.
(Reuters - Additional reporting by Ankita Bora in Bengaluru; Editing by Harikrishnan Nair and Tomasz Janowski)
Offshore Engineer
oil & gas
11 September 20252 min readEnergean Nets $4B In New Israeli Gas Offtake Deals
Offshore Engineer
11 September 2025
oil-gas
Energean Lands $4 Billion In Israeli Gas Deals But Cuts Output Amid Conflict(Reuters) — Eastern Mediterranean focused gas producer Energean secured $4 billion worth of new Israeli gas offtake contracts in the first half of the year, the group said on Sept. 11, bringing its contract pipeline to $20 billion over the next two decades.
However, the London-listed group cut its annual production forecast for the second time in nearly four months because of a temporary production suspension in Israel in June.
Energean, which aims to expand in its core locations, including Israel and Egypt and is seeking new business in West Africa, also reported a 11% drop in its core profit in six months to June 30, while after-tax profit jumped nearly 24%.
It now expects this year's production at 145,000 to 155,000 barrels of oil equivalent per day (boed), down from 160,000-175,000 boed seen in May, after Israel ordered it to stop production at its Karish offshore field during its conflict with Iran.
Energean reported first-half adjusted EBITDAX (Earnings Before Interest, Taxes, Depreciation, Amortization, and Exploration Expense) of $505 million and after-tax profit of $110 million.
In Egypt, the group estimates there is a further 3 trillion cubic feet of gas under its existing platforms, CEO Mathios Rigas told Reuters.
Offshore Israel, Energean was weighing drilling into yet untapped formations in deep Mesozoic rocks in Block 23, which could be a "new play opener for the whole East (Mediterranean)", Rigas said.
Energean would seek a partner, though, for such a complex well, which probably have to wait until stability returned to the region, he said.
Energean also expects up to 2 billion cubic meters a year from its Katlan field off Israel, due to start production in 2027, to be carried on the planned Nitzana pipeline from Israel to Egypt after that is yet to be built, Rigas said.
Pipeline Gas Journal
oil & gas
11 September 20252 min readEnergean Lands $4 Billion In Israeli Gas Deals But Cuts Output Amid Conflict
Pipeline Gas Journal
11 September 2025
oil-gas
Turkey: Saipem Awarded New Offshore Contract For Sakarya Gas Field Development Worth Approx. 1.5 Billion UsdSaipem has been awarded a new offshore contract by Turkish Petroleum OTC for the third phase of the Sakarya gas field development project in Turkey. The value of the contract is approx. 1.5 billion USD.
Sakarya is the largest offshore natural gas field discovered in Turkey and is located about 170 km off the coast of Filyos, Zonguldak. The third phase of development entails a new dedicated floating production unit (FPU), fed by 27 wells located in the Sakarya and Amasra fields, connected by a new trunkline to the onshore facility located in Filyos, on the Turkish Black Sea coast.
Saipem’s scope of work encompasses the engineering, procurement, construction and installation (EPCI) of 8 rigid flowlines and a 24-inch diameter Gas Export Pipeline (GEP), approximately 183 km long, connecting the offshore field, at a maximum depth of 2,200 meters, to Filyos. The overall duration of the contract is approximately 3 years, while the offshore campaign will be conducted by Saipem's Castorone pipelay vessel in 2027.
Saipem has successfully completed the first phase of the Sakarya field development project awarded in 2021 and is finalizing activities related to the second phase awarded in 2023. With the signing of this new contract, the company further consolidates its presence in Turkey and its involvement in a strategic project that contributes to the country's energy independence.
Original announcement link
Source: Saipem
Energypedia News
oil & gas
10 September 20252 min readTurkey: Saipem Awarded New Offshore Contract For Sakarya Gas Field Development Worth Approx. 1.5 Billion Usd
Energypedia News
10 September 2025
oil-gas
Saipem Bags $1.5B Contract For Türkiye Largest Offshore Gas FieldItalian energy services firm Saipem has secured a new offshore contract by Turkish Petroleum OTC for the third phase of the Sakarya gas field development project in Türkiye, worth approximately $1.5 billion.
The third phase of development entails a new dedicated floating production unit (FPU), fed by 27 wells located in the Sakarya and Amasra fields, connected by a new trunkline to the onshore facility located in Filyos, on the Turkish Black Sea coast.
Saipem’s scope of work encompasses the engineering, procurement, construction and installation (EPCI) of eight rigid flowlines and a 24-inch diameter Gas Export Pipeline (GEP), approximately 183 km long, connecting the offshore field, at a maximum depth of 2,200 meters, to Filyos.
The overall duration of the contract is approximately 3 years, while the offshore campaign will be conducted by Saipem's Castorone pipelay vessel in 2027.
Saipem has successfully completed the first phase of the Sakarya field development project awarded in 2021 and is finalizing activities related to the second phase awarded in 2023.
With the signing of this new contract, the company further consolidates its presence in Türkiye and its involvement in a strategic project that contributes to the country's energy independence.
Offshore Engineer
oil & gas
10 September 20251 min readSaipem Bags $1.5B Contract For Türkiye Largest Offshore Gas Field
Offshore Engineer
10 September 2025
oil-gas
Nearly 500 Miles Of Southeast Gas Pipeline Projects Enter Ferc ReviewBy Mary Holcomb, Digital Editor
(P&GJ) — The Federal Energy Regulatory Commission (FERC) has begun preparing an environmental impact statement (EIS) for two major natural gas pipeline expansions: Tennessee Gas Pipeline’s Mississippi Crossing (MSX) Project and Southern Natural Gas/Elba Express’ South System Expansion 4 (SSE4) Project, according to a Sept. 10 filing.
The review will cover new pipeline construction, compressor station installations, and facility upgrades across Mississippi, Alabama, and Georgia, with the projects designed to deliver more than 3.4 billion cubic feet per day (Bcf/d) of additional transportation capacity to the Southeast.
Project Details
Environmental Scope
FERC staff said the draft EIS will analyze potential impacts on water resources, wetlands, endangered species, cultural sites, and land use. The MSX project would affect 146 acres of wetlands and cross over 1,000 waterbodies, including the Big Black River and the Natchez Trace Parkway. SSE4 would affect 224 acres of wetlands and cross the Flint, Oconee, and Tallapoosa Rivers.
The draft EIS is scheduled for January 2026, with a final EIS expected by June 2026. A federal decision deadline is set for September 2026.
Mary Holcomb is the Digital Editor & Operations Manager at Gulf Energy Information, overseeing the Pipeline & Gas Journal, World Oil, and Underground Infrastructure brands. With over 5 years of experience, she drives digital content strategy and operations for these industry-leading publications.
Pipeline Gas Journal
oil & gas
10 September 20252 min readNearly 500 Miles Of Southeast Gas Pipeline Projects Enter Ferc Review
Pipeline Gas Journal
10 September 2025
oil-gas
Japan Weighs Trump-Backed $44 Billion Alaska Gas Pipeline Project, Hires ConsultantJapan has hired energy consultancy Wood Mackenzie to assess a proposed 800-mile Alaska gas pipeline and liquefied natural gas (LNG) plant, according to two sources with knowledge of the matter.
The move signals Japan’s seriousness in supporting the $44 billion project championed by U.S. President Donald Trump, with the assessment expected to alleviate concerns among potential Japanese investors and buyers about a project that has stalled for decades due to immense cost and logistical challenges.
According to the Reuters report, the scope and value of the deal with Wood Mackenzie are unclear, and it is unknown if the resulting report will be made public. Japan's Ministry for Economy, Trade, and Industry officials have yet to publicly comment on the developments.
Developers Glenfarne, along with the state-owned Alaska Gasline Development Corp., have also not commented publicly about the ongoing project assessments.
Since returning to office, Trump has repeatedly promised to advance the massive project, which would transport gas from Alaska's remote north to a coastal plant where it would be chilled and shipped overseas as LNG.
After a July trade deal with Japan, Trump stated that Tokyo and Washington would form a joint venture to develop the project. Japan, however, has not confirmed such a plan.
Nonetheless, the final terms of the recent trade agreement included a commitment from Tokyo to explore a new offtake agreement for Alaskan LNG. Japan also pledged to make $550 billion in unspecified U.S.-bound investments in sectors like energy and pipelines.
Despite the U.S. president's optimism, Japanese officials and energy leaders have voiced doubts about the project's cost, which they fear could make the gas supply more expensive than other sources.
Project developers have engaged in talks with several major Japanese companies, including JERA, Japan's largest LNG buyer, Tokyo Gas, Osaka Gas, Mitsubishi Corp., and Inpex, an oil and gas explorer.
"We are continuing to hold close discussions with U.S. officials on the economic viability, a forecast for starting production, and the form of cooperation, in order to realize offtake in a way that benefits both Japan and the U.S.," Japan’s Trade Minister Yoji Muto said in a briefing in late July.
Securing a deal in Japan would significantly boost the project's prospects as the nation is the world's second-largest LNG buyer, a major investor in energy infrastructure, and an emerging trading hub for U.S. gas in Southeast Asia.
A deal could also unlock financing from state banks like the Japan Bank for International Cooperation, which has previously stated it would consider providing support based on Japanese corporate involvement.
U.S. officials have emphasized the security benefits of the Alaskan project, citing its proximity to Japan and the fact that shipments would bypass sensitive maritime chokepoints like the Straits of Hormuz and Malacca.
Japan currently gets about 10 percent of its LNG from the U.S. and similar amounts from Russia and the Middle East, with Australia accounting for around 40 percent.
In late May, the developers of Alaska LNG hired Worley, an Australian engineering firm, to perform a final cost estimate, with a final investment decision expected by the end of the year, paving the way for the pipeline's construction to begin next year.
Pipeline Technology Journal
oil & gas
09 September 20253 min readJapan Weighs Trump-Backed $44 Billion Alaska Gas Pipeline Project, Hires Consultant
Pipeline Technology Journal
09 September 2025
oil-gas
Industry Job Losses And $2 Billion Cuts Threaten U.S. Oil Output Growth(Reuters) -- The U.S. oil industry is facing significant challenges, having laid off thousands of workers and reduced billions in spending due to declining oil prices and major industry consolidation. This shift may signal the end of the rapid output growth that once positioned the U.S. as the top global producer.
In response, the Organization of the Petroleum Exporting Countries and its partners in the OPEC+ group are ramping up production to reclaim market share lost to the U.S. and other producers. On Sunday, OPEC+ announced plans to increase output by 137,000 barrels per day starting in October.
These adjustments have led to a nearly 12% decline in international oil prices this year, bringing them close to breakeven for many U.S. companies. This situation has prompted significant budget cuts and layoffs, which industry insiders warn could limit future production. Should output plateau or decline, it could weaken the U.S.'s influence in global oil markets and complicate President Donald Trump's energy dominance agenda.
ConocoPhillips, the third largest oil producer in the U.S., recently announced it would reduce its workforce by up to 25%. This follows a similar announcement from Chevron, which plans to lay off 20% of its employees, approximately 8,000 workers. Other companies like SLB and Halliburton have also implemented workforce reductions.
A Reuters analysis indicated that 22 public U.S. oil producers—such as Occidental Petroleum, ConocoPhillips, and Diamondback Energy—have cut capital expenditures by $2 billion, although major players like Exxon and Chevron weren't included in this assessment.
Compounding these issues, the U.S. oil rig count—a key indicator of future drilling activity—has dropped by about 69 to a total of 414 this year, according to Baker Hughes. Experts suggest that oil prices need to stabilize between $70 and $75 per barrel for drilling operations to resume effectively. Current trading for U.S. West Texas Intermediate futures was at $62.15 per barrel on Monday.
As of the last week of August, production from the lower 48 states of the U.S. was approximately 13.4 million barrels per day, slightly below the peak of 13.6 million reached in December of the previous year.
World Oil
oil & gas
09 September 20252 min readIndustry Job Losses And $2 Billion Cuts Threaten U.S. Oil Output Growth
World Oil
09 September 2025
oil-gas
Congo Brazzaville: Conoco And Wing Wah Sign $23B Hydrocarbon Deal To Boost Congo’S Oil Output And Increase Local ContentThe Republic of the Congo and Chinese oil and gas company Wing Wah have signed a $23 billion hydrocarbon agreement for the integrated development of the Banga Kayo, Holmoni and Cayo permits. This deal sets the stage for a transformative boost to the nation’s oil production. It targets increasing output to 200,000 barrels per day (bpd) by 2030.
The agreement was officially signed by Bruno Jean-Richard Itoua, Minister of Hydrocarbons of Congo, Jean-Jacques Bouya, Minister of State of Congo and Xiao Lianping, President General, Wing Wah in August.
Through the pact, Congo is looking to ramp up cumulative production across the three permits to more than 1.3 billion barrels by 2050. The deal is a central pillar in the country’s broader economic and financial strategy, committing over $23 billion in investment and promising substantial fiscal and para-fiscal revenues.
The African Energy Chamber – the voice of the African energy sector – supports the signing of this agreement, which extends beyond crude extraction. The agreement advances energy sovereignty through the valorization of associated gas for domestic use which is key to reducing routine flaring. A cornerstone of the project is the creation of a training center, aimed at boosting local content by equipping Congolese citizens at all skill levels to access new job opportunities generated by the development.
The project also includes an integrated gas monetization component, with multi-phase expansion of LNG, LPG, butane and propane production capacity–intended to satisfy both domestic demand and exports. The integrated nature of the development includes scalable gas treatment infrastructure, on-site power generation and water-management systems–all designed for efficiency and community benefit.
Local employment is already substantial, with some 3,000–3,300 Congolese workers involved, and social benefits such as excess power and treated water provided to nearby communities.
Wing Wah has already established a significant presence in Congo via its development of the Banga Kayo field. This onshore permit currently comprises around 237–250 drilled wells and produces approximately 45,000 bpd, approaching a peak output of 50,000–80,000 bpd.
The Republic of Congo took a significant step towards maximizing its hydrocarbon resources with the signing of an amended Production Sharing Contract (PSC) between Minister of Hydrocarbons Bruno Jean-Richard Itoua and China’s Wing Wah Oil Company for the Banga Kayo block last year. This move marked the beginning of development at the block and underscored the country’s commitment to tapping into its untapped resources.
The amended PSC outlined a three-phase development plan, demonstrating the importance of public-private partnerships in developing oil and gas projects in Africa, providing a clear path to resource monetization.
'The Republic of the Congo is aggressively developing its oil and gas resources, led by its Ministry of Hydrocarbons. The country’s rapid approach to resource development serves as a model for other African nations rich in natural resources. With ambitious plans to increase production capacity, Congo is set to unlock new opportunities for sustainable economic growth through strategic oil and gas investments,' says NJ Ayuk, Executive Chairman, African Energy Chamber.
Original announcement link
Source: African Energy Chamber
Energypedia News
oil & gas
08 September 20253 min readCongo Brazzaville: Conoco And Wing Wah Sign $23B Hydrocarbon Deal To Boost Congo’S Oil Output And Increase Local Content
Energypedia News
08 September 2025
oil-gas
Pttep Greenlights $320M Offshore Ccs Project At Arthit Gas Field In ThailandThailand’s state-owned oil and gas company PTT Exploration and Production (PTTEP) has reached the final investment decision (FID) on carbon capture and storage (CCS) project at its producing Arthit gas field, offshore Thailand.
This milestone marks Thailand’s first CCS development, paving the way for the technology to play a significant role in advancing the country’s Net Zero goal.
The Arthit CCS Project has been endorsed as one of flagship projects for greenhouse gas emissions reduction under the NDC Action Plan, with an approved direction for the government to consider measures and granting of appropriate investment support such as tax incentives.
PTTEP has conducted extensive studies and assessments in preparation for the project, covering the entire process - from storage site selection with reservoirs at depths of 1,000 - 2,000 meters, to engineering design, and comprehensive Measurement, Monitoring and Verification (MMV) programs.
The company will leverage existing infrastructure at Arthit field while constructing and installing additional facilities as required.
Carbon storage operations are expected to commence in 2028, with capacity gradually ramping up to around 1 million tonnes of carbon dioxide per year.
The five-year investment is estimated at approximately $320 million (THB 10 billion.
Importantly, the development will not impact natural gas production at the Arthit field.
CCS is regarded as a reverse process of petroleum exploration and production. As natural gas is extracted from underground to provide energy for national development and everyday life, the excess carbon dioxide is captured and safely injected back into its original subsurface reservoirs.
“PTTEP strives not only to safeguard the country’s energy security but also to reduce greenhouse gas emissions. CCS is an essential technology, both nationally and globally, complementing other clean energy solutions in addressing climate change.
“The Arthit CCS Project will serve as a pilot for cultivating expertise and driving CCS adoption in Thailand, including the Eastern CCS Hub in the Northern Gulf of Thailand, which has potential to make material contribution to the country’s Net Zero target and enhance the nation’s long-term economic competitiveness” said Montri Rawanchaikul, Chief Executive Officer of PTTEP.
Offshore Engineer
oil & gas
08 September 20252 min readPttep Greenlights $320M Offshore Ccs Project At Arthit Gas Field In Thailand
Offshore Engineer
08 September 2025
oil-gas