Murphy Oil Corp said on Thursday it is exiting Malaysia with the $2.13 billion sale of its oil and gas assets to a Thai company and will use the deal proceeds to pay down debt, buy back shares and fund potential deals in the United States.The buyer…
Brazil's state-run oil company Petroleo Brasileiro SA said on Tuesday it had started production at its P-77 platform, its fourth platform to enter operations in the Buzios field within the pre-salt region of Bacia de Santos.Petrobras, as the company is known…
Hurricane Energy's floating production, storage and offloading (FPSO) vessel has been connected to the group's North Sea Lancaster oilfield, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.Hurricane…
Installation and testing of the 67 km control umbilical connecting the Sole gas field with the Orbost Gas Plant has been completed, marking the conclusion of the offshore construction phase of the Sole Gas Project, operator Cooper Energy said in an update on Monday…
BHP Group Ltd has stepped up exploration drilling in deep water off Trinidad and Tobago hunting for gas which could supply the country's Atlantic LNG (liquefied natural gas) plant in the 2020s, a senior executive said.The company expects to complete drilling of three wells in block 14…
Malaysian state-owned oil firm Petroliam Nasional Bhd (Petronas) said on Wednesday it had relocated its floating liquefied natural gas facility to the eastern state of Sabah, nearly two years after it began operations.The Petronas FLNG (PFLNG) Satu is now moored in the Kebabangan cluster field…
Italian oil major Eni said on Wednesday it has made a major discovery in Block 15/06, in the Agogo exploration prospect, in the deep waters offshore Angola.The find is Angola's largest offshore discovery in years. Eni said the discovery is estimated…
Colombia's government on Monday said it signed two exploration and production contracts with Shell in offshore areas of the Caribbean Sea that will require the company to make initial investments of $100 million.Colombia recently modified contractual…
Thai oil and gas company PTT Exploration and Production Public Company Limited (PTTEP) has made a gas and condensate discovery at the Orchid-1, the first exploration well in Permit AC/P54 located in the Timor Sea, Australia.Phongsthorn Thavisin…
U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more.Drillers cut nine oil rigs in the week to March 8…
Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday.Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake…
Aker Energy, as the operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, announced Monday that it encountered oil in the Pecan South-1A well south of the main Pecan field offshore Ghana.Aker Energy said it is in the process of analyzing…
U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year.Drillers cut 10 oil rigs in the week to March 1…
Record U.S. output, exports offset some of OPEC's cuts.Oil prices were broadly steady on Friday as surging U.S. supply and concerns of a global economic slowdown were offset by falling OPEC output.International Brent crude futures were at $66…
The United States needs to be cautious about pending legislation that would allow the Justice Department to sue OPEC and other oil producers over supply cuts because it could result in higher prices in the long term, U.S. Energy Secretary Rick Perry said on Thursday…
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