PetroChina Co Ltd struck sizeable oil and gas flows in an exploration well in the Tarim basin of the remote northwestern region of Xinjiang, marking a breakthrough in exploring an earlier untapped region, parent CNPC said on Thursday.Zhongqiu-1 well tested a daily natural gas flow of 330…
ExxonMobil Corp and the world's top miner BHP Billiton said on Thursday they approved development of the West Barracouta gas field in the Gippsland Basin in Australia, to bring fresh gas to Australian domestic markets.Exxon said the project…
Lawyers for the Nigerian government said they had filed a $1.1 billion lawsuit against Royal Dutch Shell and Eni in a commercial court in London on Thursday in relation to a 2011 oilfield deal.The OPL 245 oilfield is also at the heart of an…
Private equity-backed oil firm Chrysaor has hired advisers ahead of talks to buy Chevron's British North Sea oil and gas fields for over $2.5 billion, industry and banking sources said.Chrysaor has signed up investment banks Jefferies and BMO…
Oil major Chevron announced Monday it has named Navin Mahajan vice president and treasurer, effective February 1, 2019, and Dale Walsh vice president of Corporate Affairs, effective March 1.Mahajan, who is currently vice president, Finance Downstream & Chemicals…
Swedish floating wind turbine player SeaTwirl has joined the Ocean Energy Scale-Up Alliance (OESA) that has been granted funding from the Interreg North Sea Region.SeaTwirl is a vertical floating wind turbine that was tested off the west coast of Sweden in 2011…
The oil and gas company with focus in Norway and the U.K. Faroe Petroleum has reaffirmed that Norwegian oil giant DNO ASA's GBP608mln ($761.65 million) unsolicited takeover offer for the AIM-listed firm is 'opportunistic' and 'substantially' undervalues it…
Netherlands-based Sif Holding N.V. announced that Dredging International has awarded to Sif the production of 58 monopiles and the primary steel of the transition pieces for SeaMade offshore wind farm.The manufactures steel foundations to the…
One of the world’s largest offshore wind projects, the 402-megawatt (MW) Dudgeon offshore wind farm in the U.K., announced the signing and pricing of privately placed notes for the refinancing of the project’s existing non-recourse project debt…
National Ocean Industries Association (NOIA) said that U.S. territories need the Offshore Wind for Territories Act.The U.S. has five permanently inhabited 'Territories' in the Caribbean Sea and the Pacific Ocean: American Samoa, Guam, the Northern Mariana Islands…
U.S. crude inventory declined again last week, reducing fear of a repeat 2014/16 oil glut occurring. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates a small inventory fall of 1.2 million barrels in the week ended December 7…
U.S. producer Hess Corp said on Wednesday it expects oil and gas output to grow more than 10 percent a year compounded through 2025, citing higher growth opportunities at its Bakken shale and offshore Guyana projects.The company projects higher…
Parker Drilling files for pre-arranged Chapter 11 reorganizationOilfield services provider Parker Drilling Co said it filed for bankruptcy protection on Wednesday under an agreement with a group of debtors that will allow it to quickly restructure…
U.S. crude oil stockpiles last week fell less than expected, while gasoline inventories increased and distillates stocks fell, the Energy Information Administration said on Wednesday.Crude inventories fell by 1.2 million barrels in the week to Dec…
Venezuela is facing the possible unraveling of a pair of billion-dollar settlements aimed at protecting the cash-strapped country's U.S.-based Citgo Petroleum Corp from seizure by creditors.A lawyer for Canadian mining company Crystallex International…
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