Subsea 7 (SUBC.OL) secured a contract to work on Murphy Exploration & Production Co.'s String Music development in the US Gulf, according to a Tuesday release.
Under the contract, which is worth between $50 million and $150 million, the subsea engineering company will provide engineering, procurement, construction, and offshore installation services, with some works to be done in water depths of up to 1,850 meters.
Offshore operations at the project are scheduled for 2027.
Abu Dhabi National Oil Co, or Adnoc, is planning to build a new pipeline for the export of gasoline, diesel, and jet fuel amid the continued closure of the Strait of Hormuz.The multi-fuel pipeline will be the first in the United Arab Emirates and is part of Adnoc's efforts to ensure the continued supply of its products to clients as regional tensions persist, London's Financial Times reported Tuesday, citing Adnoc's Executive Vice President for Trading Philippe Khoury.Adnoc is currently developing a second crude pipeline to double its oil export capacity through Fujairah, set to become operational in 2027.
BP (BP.L) is exploring potential agreements concerning the sale of its UK North Sea assets after failed negotiations with Ithaca Energy (ITH.L), London's Financial Times reported Tuesday, citing people familiar with the process.The oil and gas company reportedly discussed a deal with the British oil and gas company worth close to 2 billion pounds sterling, but talks failed in recent weeks.The potential assets sale with other prospects is happening amid BP's restructuring under Chief Executive Officer Meg O'Neill to shift its focus on oil and gas production, the report added.BP did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Peyto Exploration & Development (PEY.TO) said Tuesday it signed a long-term natural-gas supply agreement with Centrica Energy to deliver 50,000 MMBtu of natural gas per day over a 10-year period beginning in 2029.The company said deliveries will be made at TC Energy's NIT AECO hub in Alberta. The gas will be priced against the Title Transfer Facility (TTF), the benchmark for European natural-gas markets.Peyto said the agreement supports its strategy of diversifying natural-gas sales to premium demand markets and provides the company with long-term exposure.Shares of Peyto closed up $0.35 at $25.59 on the Toronto Stock Exchange.