@import url(‘https://fonts.googleapis.com/css2?family=Inter:wght@100..900&display=swap’); .ebm-page__main h1, .ebm-page__main h2, .ebm-page__main h3, .ebm-page__main h4, .ebm-page__main h5, .ebm-page__main h6 { font-family: Inter; } body { line-height: 150%; letter-spacing: 0.025em; } button, .ebm-button-wrapper { font-family: Inter; } .label-style { text-transform: uppercase; color: var(–color-grey); font-weight: 600; font-size: 0.75rem; } .caption-style { font-size: 0.75rem; color: color-mix(in srgb, currentColor 60%, transparent); } <!–> Equinor Energy AS awarded Aibel a front-end engineering and design (FEED) study contract covering topside modules for the proposed floating production, storage, and offloading (FPSO) vessel for Wisting field development in the Barents Sea. The contract includes FEED work and further maturation of the FPSO topsides design to support the Wisting partners’ project execution decision. It also contains an option for engineering, procurement, and project management (EPma) services. Any contract for fabrication of the topside modules would be awarded later, Equinor said. Work will begin immediately and is scheduled for completion in late 2027. The FEED study will form part of the basis for the Wisting license partners’ planned investment decision in late 2027. Equinor and partners plan to decide on concept selection and the project’s further progression by yearend 2026. “We are at an early stage in the development of Wisting, and considerable work remains to develop a project that is profitable and feasible,” said Trond Bokn, Equinor’s senior vice-president for project development. ]–> <!–> –> <!–> Dec. 2, 2019 ]–> <!–> –> <!–> April 22, 2024 ]–> <!–> –> <!–> May 21, 2026 ]–> Wisting Wisting, discovered in 2013 in the Hoop area of the Barents Sea about 310 km north of Hammerfest, is the largest oil discovery on the Norwegian continental shelf yet to be developed. The field contains estimated recoverable resources of just under 500 MMboe. Water depths across the development area are 390-418 m. In July, Equinor submitted for public consultation

Oil prices rose sharply Oct. 23 as escalating attacks on Saudi Arabian energy infrastructure and mounting threats to Middle East shipping heightened concerns over further supply disruptions. Oil prices rose more than 3% on Oct. 23, with Brent crude futures climbing above $117/bbl, their highest level since late April, while US benchmark West Texas Intermediate (WTI) advanced above $103/bbl. Brent was on track for a third consecutive weekly gain, reflecting a growing geopolitical risk premium amid continued regional hostilities. Market concerns intensified following attacks by Yemen’s Houthi movement on Saudi targets, including energy infrastructure and airports. On Oct. 21, Saudi air defenses intercepted a drone targeting a processing plant at Saudi Aramco’s Shaybah oil field. Falling debris caused a fire in a contractor’s vehicle, killing two people and injuring two others, according to the Saudi Energy Ministry. Operations at the field were unaffected. Saudi Aramco also instructed employees to evacuate its headquarters in Dhahran and work remotely as regional hostilities escalated, Reuters reported Oct. 22, citing people familiar with the matter. Although the latest incident at Shaybah did not interrupt production, continued attacks have raised concerns about the security of Saudi energy infrastructure and the reliability of regional supplies. Shipping risks have added to market uncertainty. October has recorded the highest number of attacks on commercial vessels in the Strait of Hormuz and surrounding waterways since tracking began in 2017, according to data compiled by the Washington Institute for Near East Policy. Although Middle Eastern crude exports have recovered strongly from earlier disruptions, the escalation in maritime attacks has raised questions about whether those flows can be sustained. The United Arab Emirates (UAE) also reported an oil spill from a tanker off Umm Al Quwain on Oct. 23. Authorities did not identify the vessel or establish the cause of the

The board of directors for the Interstate Natural Gas Association of America (INGAA) has appointed Chris Schindler to serve as chairman of the organization for a 1-year term. Schindler serves as executive vice-president, general counsel, corporate secretary, and chief compliance officer of Southern Star Central Gas Pipeline, which transports natural gas through about 5,800 miles of pipeline in the Midwest and Mid-Continent regions of the United States. Schindler joined Southern Star in June 2019 following a 25-year legal career at Hogan Lovells, in Washington, DC. He handled regulatory matters before the Federal Energy Regulatory Commission (FERC), Commodity Futures Trading Commission (CFTC), and state commissions; executed regulatory strategies for energy infrastructure projects; litigated FERC rate cases; and was a frequent national speaker on FERC and CFTC regulatory issues. INGAA also appointed Rob Johnson, president of WBI Energy Inc., as first vice chair, and David Brast, president of US Natural Gas Pipelines, TC Energy, as second vice chair.

WASHINGTON— The U.S. Department of Energy (DOE) today announced the authorization of an emergency exchange of up to 400,000 barrels of crude oil from the Strategic Petroleum Reserve (SPR) to address a crude oil supply disruption affecting the Phillips 66 Lake Charles Refinery in Louisiana. Under the terms of the exchange, all borrowed crude oil will be returned with additional premium barrels, helping replenish and strengthen the SPR at no additional cost to taxpayers.  “With this exchange, the Energy Department is taking definitive action to support refinery operations, maintain stable fuel supplies, and ensure all Americans continue to have access to the affordable, reliable, and secure energy they rely on every day,” said DOE Under Secretary of Energy Kyle Haustveit. “This emergency exchange helps alleviate supply disruption and requires Phillips 66 to return more barrels to the SPR than are currently being withdrawn, saving hardworking taxpayers millions of dollars and delivering on the Trump Administration’s commitment to strengthen and safeguard America’s energy security.” The Energy Department has authorized the exchange of up to 400,000 barrels for the Phillips 66 Lake Charles Refinery from the West Hackberry SPR site for immediate delivery. The supply will help offset temporary disruptions affecting crude oil deliveries to the refinery and support continued production of transportation fuels serving Louisiana and surrounding markets.  DOE will continue working with industry partners to help ensure stability across the fuel supply chain and stands ready to utilize available authorities, as appropriate, to support the reliable delivery of energy supplies and protect U.S. energy security.  For more information on the SPR, please visit DOE’s SPR website. 

WASHINGTON—The U.S. Department of Energy (DOE) today announced that Secretary of Energy Chris Wright has designated helium as a critical material under the Energy Act of 2020. The designation advances the Trump Administration’s commitment to freeing America from reliance on foreign sources of critical materials, strengthening domestic manufacturing, supporting American jobs, and securing the materials essential to U.S. economic and national security.  “President Trump is bringing back America’s manufacturing industry, and that means making sure we have the materials needed to build things in America again,” said U.S . Secretary of Energy Chris Wright. “Helium is essential to producing the semiconductors and advanced technologies that power our economy. By designating helium as a critical material, we are taking another step toward securing our supply chains, creating American jobs, and ensuring the United States leads the world in energy and technological innovation.” DOE determined that helium meets the statutory definition of a critical material due to its essential role in American manufacturing and growing exposure to supply chain risks. Helium’s unique properties make it indispensable to semiconductor production, with no viable substitutes in many critical applications. The United States has significant domestic deposits of helium-rich natural gas to support growing industrial demand. “The U.S. Department of Energy is committed to strengthening our country’s supply chain of critical materials that are essential to continued economic and job growth, energy dominance, and U.S. leadership in cutting-edge technologies such as SI and semiconductors,” said Assistant Secretary of Energy Audrey Robertson. “Under Secretary Wright’s leadership, DOE is taking decisive action to ensure American manufacturers have reliable access to helium as a critical resource they need.” Global demand for helium is growing faster than production, increasing supply risks for American manufacturers. Despite the nation’s abundant helium resources, limited refining capacity and lengthy permitting timelines continue to

WASHINGTON—President Donald J. Trump today announced plans to provide up to $150 million in Defense Production Act (DPA) Title III funding to expand domestic petroleum production, storage, and logistics at refineries across the United States.  By leveraging DPA authorities, DOE will help increase domestic production of gasoline, diesel, jet fuel, and other petroleum products, strengthening America’s fuel supply and lowering prices for American families and businesses. Together, this funding is expected to increase U.S. refining output by millions of gallons per day.  “After 17 years of Democrat leaders enacting energy subtraction policies that led to the closure of refineries and more expensive refined oil products, the Trump Administration is taking action to expand our nation’s refining capacity and strengthen our energy security,” said U.S. Secretary of Energy Chris Wright. “Thanks to President Trump, America is producing more oil and gas than ever before and thanks to President Trump, we will soon be producing more refined products as well. These Defense Production Act funds will be used strategically and in partnership with private industry to rapidly bolster America’s existing energy infrastructure. By restoring energy addition policies, we will continue to unleash American energy dominance and lower costs for the American people.” The investment supports President Trump’s commitment to ensuring all Americans have access to affordable, reliable, and secure energy while strengthening energy infrastructure critical to national defense. Thanks to the Working Families Tax Cuts, $1 billion in federal funding has been appropriated for energy-related projects deemed critical to national security. Presidential Determination No. 2026-11 identifies domestic petroleum production, refining, and logistics capacity as essential to national defense. The selection process is ongoing and will be announced in the near future.