The deal, which circumvents US sanctions, offers a lifeline to Iraq's power grid.

The North African country, known for its significant oil reserves, collected nearly $8 billion (LYD 37.3 billion) in oil revenue in the previous year's corresponding period.

Xodus has been awarded a contract to provide technical and project support services for the decommissioning of a floating production storage and offtake facility located in the Timor Sea.

erry's comments come in response to recent statements by Shell's CEO, who emphasized the need for future oil investments.

With a mid-point estimate of 175 MMboe, Carmen represents the largest discovery on the Norwegian Continental Shelf since 2013.

The decision comes after an incident involving the floating storage and offloading vessel stationed at the field, which deviated from its intended position and made contact with the field's catenary anchor leg mooring buoy.

The USA Department of Energy (DOE) has initiated the bidding process for the supply of six million barrels of domestically produced oil to be deposited into the Strategic Petroleum Reserve (SPR).

The solution, featuring a multi-functional single shear and seal mechanism, will be incorporated into a full subsea deepwater completion/intervention system for a long-standing customer in the Gulf of Mexico.

Located approximately 100 km southeast of Baku, this milestone marks the connection of a subsea production well to a new gas processing platform, which is linked to SOCAR's existing facilities in Oil Rocks.

The incident resulted in casualties, evacuation of workers, and significant implications for oil production.