Australian offshore oil and gas safety regulator NOPSEMA has accepted Shell's offshore project proposal for the development of the Crux gas field in the Browse Basin, off the north coast of Western Australia.Consisting of a normally unmanned platform and five production wells, the proposed Crux development would connect to the Prelude Floating Liquefied Natural Gas (FLNG) facility via a 165km export pipeline…
Oil prices rose to their highest since early March on Wednesday on data showing a big drop in U.S. crude inventories, and a weak dollar, but mounting coronavirus infections weighed on the demand outlook.Brent crude was up $1.63, or 3.67%, at $46…
Pharos Energy, and oil and gas company formerly known as Soco International, has been granted a two-year license extension for the TGT offshore field license in Vietnam.The company said Tuesday the license had been formally granted to the Joint…
Oil prices fell on Monday on fears about the economic fallout from rising COVID-19 cases around the globe and on oversupply worries as OPEC and its allies are set to wind back output cuts in August.Brent crude fell 18 cents, or 0.4%, to $43…
Indonesia announced over the weekend that it had made revisions to a 2017 law that will give oil and gas investors more flexibility when choosing their contract options for exploration.The revisions, which came into effect on July 16, allow…
A former manager of consultancy Unaoil was sentenced to three years in jail by a London court on Thursday – the second Unaoil executive to be jailed for bribing an Iraqi official to secure a $55 million oil deal after the fall of Saddam Hussein in 2003…
Russian oil and gas company Sakhalin Energy has started seasonal maintenance of its Molikpaq offshore oil and gas platform, at the Russian far east.Sakhalin Energy said Friday that over 300 people, including about 160 maintenance contractor personnel…
ConocoPhillips said on Thursday it expects production curtailments in the current quarter to be roughly half as much as last quarter and will restore most of its output by the end of September, after the oil and gas producer slashed about a third of its output in April as oil prices plunged 41%…
Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil's collapse in April and May amid the coronavirus pandemic…
Two refiners in South Korea, the world's fifth largest crude oil importer, posted their biggest losses ever in the first half when oil prices slumped as the COVID-19 pandemic ravaged fuel demand.SK Innovation Co Ltd, owner of South Korea's top refiner SK Energy…
Worsening diplomatic relations between the United States and China are putting a spotlight on their economic inter-dependency in the context of global supply chains for both technology and energy.Top policymakers in the United States and some of its closest allies…
Australian oil and gas company Karoon Energy has said that its founder and CEO Robert Hosking will step down after 16 years at the helm.The company, with oil and gas projects in Australia, Peru, and Brazil, said Wednesday that Hosking had informed…
Gulf Marine Services, a UAE-based supplier of self-propelled and self-elevating support vessels (SESVs) for the offshore energy industry, has said it has completed its first Well Intervention work scope.The company, which normally provides offshore…
The ongoing flood of crude oil into China is obscuring the fact that demand in the rest of Asia remains weak, and that countries in the world's top-consuming region didn't join China is stocking up when prices slumped.China's crude imports set consecutive records in May and June…
China-based offshore oil and gas-focused company CNOOC will acquire rights in Abu Dhabi's major offshore blocks Lower Zakum, Umm Shaif and Nasr.Abu Dhabi's national oil company ADNOC said Monday it would transfer part of rights in the offshore…
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