Oil and gas producer Cimarex Energy Co said on Monday it would buy smaller rival Resolute Energy Corp in a deal valued at $1.6 billion, including debt, adding more assets in the shale-rich Permian Basin.The region has seen several deals as bigger producers add more assets…
Monaco-based owner and operator of liquefied natural gas (LNG) carriers, reported a third-quarter ended September 30, 2018 loss of $654,000, after reporting a profit in the same period a year earlier.The gas shipping company said that the Q3 results included $2…
SBM Offshore, the Netherlands-based maker of floating oil and gas production facilities, on Thursday said it expected $45 million in impairments in Brazil and the United States.In Brazil, SBM Offshore has decided to temporarily close the Brasa…
Norway's Equinor has bought a 9.7 percent stake in renewable energy producer Scatec Solar, raising its ownership to 10 percent, the state-controlled energy firm said on Thursday.'The investment in Scatec Solar will increase Equinor’s exposure to a fast growing renewable sector…
Tullow Oil forecast its net debt would drop to $2.8 billion by the end of the year and slightly raised its full-year free cash flow to $700 million, helped by trimming its capital expenditure.The company had previously said it might reach free cash flow of about $650 million…
Russian President Vladimir Putin said on Thursday he had discussed the world oil market with U.S. President Donald Trump when both men were in Paris to mark the anniversary of the end of World War One.Putin, speaking to reporters on the sidelines of a regional conference in Singapore…
Russian maritime shipping company Sovcomflot has signed a new USD 149 million credit facility, for up to 10 years, with a consortium of three leading international banks, comprising: ING Bank, KfW IPEX-Bank GmbH, and Crédit Agricole Corporate and Investment Bank…
The Abu Dhabi National Oil Company (ADNOC) said on Wednesday it would invest 5.1 billion dirhams ($1.4 billion) to upgrade and expand its onshore Bu Hasa field.The upgrade will increase crude oil production capacity to 650,000 barrels per day…
Fear of a new oil demand/supply imbalance has rattled the oil market.Market sentiment has suddenly shifted. Fear that Iran sanctions will cause oil prices to spike to $100+ has been superseded by concern that prices are heading south with no bottom in sight…
Russian state bank VTB did not finance the recent deal by Qatar to buy a stake in Rosneft and it is verifiable by looking at who has the oil giant's shares as collateral, Rosneft CEO Igor Sechin said on Wednesday.Reuters reported last week that…
Oil's slide accelerated on Tuesday, with U.S. futures suffering their steepest one-day loss in more than three years due to ongoing worries about weakening global demand and oversupply.U.S. futures closed down 7.1 percent, for a record 12th straight decline and the lowest since November 2017…
Oil price reporting agency Argus has launched five new price assessments for low-sulphur marine fuels, ahead of new global rules capping the amount of sulphur in marine fuels, also known as bunkers.International Maritime Organization (IMO) regulations…
Noble Group Ltd halved its quarterly net loss from continuing operations to $43.3 million and said its soon-to-be-completed $3.5 billion debt restructuring would enable the commodity trader to reposition its business in Asia Pacific and the Middle East…
Global consulting firm AlixPartners, in a new paper entitled, “Too many ships, too few rigs: why recovery is still a distant dream for the OSV sector,” warns that companies counting on a quick return to stability in the OSV sector are in for a rude awakening…
Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, BlackRock, the world's largest asset manager, said on Tuesday.Oil and gas giants such as Royal Dutch Shell…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week