Oil prices edged up on Monday, supported by ongoing supply cuts from producer club OPEC and Russia and by a drop in U.S. drilling activity.International Brent crude oil futures were at $60.75 per barrel at 0040 GMT, up 27 cents, or 0.5 percent…
Austrian oil and energy group OMV reported a 10 percent quarter-on-quarter rise in fourth-quarter oil and gas production on Monday.Output rose to 447,000 barrels of oil equivalent per day (boe/d) from 406,000 boe/d in the previous quarter, it said…
Shares in Orsted fell on Monday after the energy company, which is 50.1 percent owned be the Danish state, on Sunday announced that there was no longer political support for the divestment of its power business.The world's largest offshore wind…
Britain's Premier Oil Plc said on Monday it was looking to buy U.K. North Sea assets, after the Sunday Times reported that it was preparing to tap shareholders for cash to help it buy about $1.5 billion worth of oil fields.The company's shares fell as much as 12…
Saudi Arabia's Energy Minister Khalid al-Falih said that oil demand remains strong and that he sees no impact from U.S.-China trade tensions.'The global economy is strong enough, I'm not too concerned. If a slowdown happens, it will be mild…
Norwegian oil and gas firm Equinor has restarted operations at its Melkoeya LNG plant after an outage ten days ago, the company said on Monday.The plant, which liquefies natural gas from the Arctic Snoehvit gas field for transportation by tankers…
Brazil's government on Monday nominated three new board members for state-owned oil company Petroleo Brasileiro SA (Petrobras), amid accusations that new CEO Roberto Castello Branco was pushing to oust board members.The nominees are Eduardo Bacellar Ferreira…
Hedge fund managers show signs of having completed their recent sale of crude and refined fuels, with positions edging up slightly in the first week of the new year, amid hopes a recession can be averted.Oil prices have bounced off their recent lows…
Viking Link, an electricity link between Denmark and the UK has been given the green light by the government. The a proposed 473-mile (761km) electricity cable between Bicker Fen, near Boston, and Revsing, in southern Jutland.The cable running from the Lincolnshire coast to Denmark…
Italy's Eni SpA and Thailand’s PTT Exploration and Production Pcl secured rights to explore for oil and natural gas in Abu Dhabi from the Abu Dhabi National Oil Company (Adnoc), following Abu Dhabi’s first competitive block licensing round.A tweet from Adnoc said…
The National Decommissioning Centre (NDC) is opened by Lord Duncan, UK Government Minister for Scotland and Paul Wheelhouse MSP, Scottish Energy Minister, in Newburgh, in North-East Scotland’s Energetica Corridor.The Centre aims to work in partnership…
National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) and ENI signed a Memorandum of Understanding (MoU) to pursue petroleum exploration of Block 1, an offshore area of over 2,800 sqkm still largely unexplored, located in the northern…
The coming year is expected to make the U.S. the third largest exporter of liquefied natural gas (LNG) in the world, creating jobs stateside while reducing emissions and providing reliable energy to countries around the world, said American Petroleum Institute (API)…
Cleaner and greener: Azeez Mohammed, president & CEO of GE's Power Conversion business, discusses the key role of electrification technology in decarbonizing the oil and gas value chain.The renewables revolution is in full swing. However, renewable…
The owners of software company Wellit have decided to sell 60 percent of company shares to private equity company Norvestor.Wellit develops logistics solutions for the global oil and gas industry. Its software, WELS, is a cloud-based multi-tenant platform tailored to the oil and gas industry…
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