BP PLC said Monday the Cypre field in Trinidad and Tobago is now producing and is expected to deliver about 250 million standard cubic feet a day (MMscfd) of gas at peak. The project, located 78 kilometers (48.47 miles) off the southeast coast of Trinidad in a water depth of about 80 meters (262.47 feet) according to BP, is part of the East Mayaro Block. Cypre is wholly owned by BP Trinidad and Tobago LLC (BPTT), a joint venture owned 70 percent by Britain’s BP and 30 percent by Spain’s Repsol SA. Cypre is one of 10 projects that BP aims to start up between 2025 and 2027. “Production from Cypre will make a significant contribution towards the 250,000 barrels of oil equivalent per day combined peak net production expected from these 10 projects”, it said in an online statement. BPTT’s third subsea development, Cypre will have 7 wells tied back to BPTT’s existing Jupiter platform. Phase 1, consisting of 4 wells, was completed at the end of 2024. “The second phase is expected to commence in the second half of this year”, BP said. BPTT president David Campbell said, “Cypre is another key milestone in bpTT’s strategy to maximize production from our shallow water acreage using existing infrastructure”. “The project not only reinforces our commitment to maintaining production but also plays a crucial role in satisfying our existing gas supply commitments”, Campbell added. “Cypre represents a significant investment in the country’s energy sector”. William Lin, BP executive vice president for gas and low-carbon energy, said, “The second of 10 major projects across our global portfolio that we expect to start up by 2027, Cypre is also the first of a series of projects we will be bringing online in Trinidad to deliver gas to the nation and add value for

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 6.2 million barrels from the week ending March 21 to the week ending March 28, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. That report was released on April 2 and included data for the week ending March 28. The EIA report showed that crude oil stocks, not including the SPR, stood at 439.8 million barrels on March 28, 433.6 million barrels on March 21, and 451.4 million barrels on March 29, 2024. Crude oil in the SPR stood at 396.4 million barrels on March 28, 396.1 million barrels on March 21, and 363.6 million barrels on March 29, 2024, the report outlined. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.605 billion barrels on March 28, the report showed. Total petroleum stocks were up 5.6 million barrels week on week and up 27.2 million barrels year on year, the report revealed. “At 439.8 million barrels, U.S. crude oil inventories are about four percent below the five year average for this time of year,” the EIA said in its report. “Total motor gasoline inventories decreased by 1.6 million barrels from last week and are two percent above the five year average for this time of year. Finished gasoline inventories increased and blending components inventories decreased last week,” it added. “Distillate fuel inventories increased by 0.3 million barrels last week and are about six percent below the five year average for this time of year. Propane/propylene inventories increased by 1.0 million barrels from last week and are eight percent below the five year average for this time of year,”

Papua New Guinea’s national petroleum and energy company Kumul Petroleum Holdings Limited has finished its seismic program on its operated Kimu and Barikewa licenses. “On Wednesday, March 26, we shot the last hole on a seismic line in the Kimu license, and camp demobilization has begun. This is the culmination of a seismic program we have been undertaking in our two petroleum retention licenses”, Wapu Sonk, Kumul Petroleum’s managing director, said. “The purpose of this seismic work is to gather additional geological information on the petroleum resources already discovered in these two licenses, to increase the volumes of oil and gas reserves. The second objective is to identify and firm up siting of some delineation wells and exploration targets”. Sonk said the seismic campaign had been carried out by contractor OilMin Holdings and had taken approximately six months. He noted that seismic line cutting is a labor-intensive activity and the six seismic lines required the employment of 477 local people in remote areas of the Gulf and Western provinces. The company anticipates 6 months for analyzing and incorporating seismic data into its geological models. “Kumul Petroleum and OilMin have worked closely with locally impacted communities and although seismic work only requires company presence in an area for a relatively short time, assistance has been provided to local primary schools at Kaiam and Kumusi. Without community support this fieldwork would not have been possible”, Sonk said. Sonk said Kumul Petroleum is investing heavily to assess and develop its oil and gas licenses, aiming to create economically viable development plans. He highlighted Kumul Petroleum’s direct involvement in exploring and potentially commercializing previously deemed unviable gas resources in Papua New Guinea. To contact the author, email [email protected] What do you think? We’d love to hear from you, join the conversation on the Rigzone

Buru Energy Ltd. has executed a Strategic Development Agreement (SDA) with Clean Energy Fuels Australia Pty. Ltd. (CEFA) to co-develop the Rafael gas project. The project is located in the Canning Basin, some 150 kilometers (93.2 miles) east of Broome and approximately 85 kilometers (52.8 miles) south of Derby in the Shire of Derby-West Kimberley, Western Australia. Buru said in a media release the project is targeting the replacement of long-haul trucked or imported fuel used for power generation and mining in the northwest of Western Australia with a local source of trucked liquefied natural gas (LNG) and liquids, supporting the development of new market opportunities in the region. “The agreement with CEFA is a watershed moment for Buru and the Rafael gas project. It marks a clear demonstration of the company’s gas strategy and transition from explorer to developer and long-term producer”, Buru CEO Thomas Nador said. “Rafael is the only confirmed source of conventional gas and liquids in onshore Western Australia north of the North West Shelf project. It is a unique opportunity to provide energy to a growing market that is not connected to a gas pipeline and currently faces challenges with high energy costs and security of supply”. “Our proven virtual pipeline or ‘trucked LNG’ model lowers long-term regional energy costs and emissions and provides a viable alternative to diesel for new and existing energy users”, Basil Lenzo, CEFA/Octa Group CEO and Director, said. Buru and CEFA will establish gas pricing arrangements for competitive LNG sales, ensuring economic returns and value sharing, Buru said. The two companies will also work together on condensate production and sales. Buru added that CEFA will finance and operate a small-scale LNG plant with a capacity of up to 300 tonnes per day on the Rafael 1 well pad, with a

Offshore Energies UK (OEUK) has called for policymakers to accelerate deployment of the UK hydrogen sector. In a new report, the body warned that the country’s hydrogen industry has been slower to develop than expected and outlined key recommendations to help boost its growth. Among its recommendations are prioritising the deployment of hydrogen into industries where it can make the biggest impact in decarbonising sectors, such as high-temperature manufacturing processes. In addition, OEUK said that the government should commit to realistic, deliverable deployment targets to attract investment and build confidence in the sector. The report also called for ensuring funding mechanisms for hydrogen business models, such as the proposed Gas Shipper Obligation, are fair and proportionate whilst balancing the need to preserve energy security, reduce energy costs and deliver net zero objectives. Finally, OEUK said that policies must recognise the critical importance of domestic gas production in delivering the scale of low carbon hydrogen supplies needed to create this new market. OEUK head of energy policy Enrique Cornejo said: “The UK has the people, projects, and potential to make hydrogen a cornerstone of our energy future – but without urgent action, that opportunity could slip through our fingers. “The UK has over 100 hydrogen projects in the pipeline, equating to more than 15GW of production capacity, but without clarity on key areas and policies, these projects will struggle to progress. “Hydrogen has a role to play as a decarbonisation solution and for those industries, there needs to be a scale up of the sector.  This isn’t only about hitting targets – it’s about securing jobs, investment, and a future for many of these sectors.” The UK hydrogen industry recently echoed some of OEUK’s calls, saying that the government needs to deliver “pragmatism” and policy certainty to help the sector reach

Just a few short days ago, the Department of Energy announced that the UK’s greenhouse gas emissions had fallen by 3.5% last year – due in large part to a new record for renewable energy generation, such as wind and solar, which now powers more than 50% of the UK’s electricity supply. Greenpeace UK policy director Doug Parr said it showed “the UK’s efforts to tackle climate change are working,” and called on the government to “rapidly make renewables the backbone of our energy system to lower our bills for good.” The UK’s expansion of renewable energy infrastructure and capacity has certainly proven valuable in recent months, as repeated disruptions have continued to impact the supply of fossil fuels from abroad, and skyrocketing energy prices have underscored the need for greater energy security and independence. However, as the country celebrates this new milestone on the journey to net zero, there are significant obstacles that still lie ahead – such as the lack of long-term financing and the challenges of renewable energy intermittency. However, the most significant complication threatening to undermine the UK’s energy transition is not related to the performance or cost of renewable energy, but rather to the availability of the materials that are needed to build and scale a clean energy system. Critical minerals such as lithium, nickel, cobalt, copper and rare earth elements are essential components of rapidly growing energy technologies – including wind turbines, electricity networks and electric vehicles – and securing a stable and reliable supply of these resources has proven to be an incredibly competitive process. Rare earth boom As of 2025, the rare earth metals market is projected to reach $8.15 billion, growing at a compound annual growth rate of 7.9%. The energy sector’s demand has been a key driver of this surge,