Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.Benchmark Brent crude fell below $70 a barrel for the first time since early April…
Austria's OMV has agreed to establish a joint venture with Malaysia's Sapura Energy Bhd , paying $540 million for a 50 percent stake in its exploration assets in line with its strategy to expand in Southeast Asia.Sapura Energy will transfer $350 million of its debt into the new firm…
Rosenberg WorleyParsons has been awarded an engineering, procurement, construction and installation contract (EPCI) by Lundin Norway ASO in the Norwegian Continental Shelf.The services include planning, engineering, prefabrication, offshore installation and commissioning support…
The American Petroleum Institute (API) released its newest valve standard as part of the industry’s continuous efforts to improve operational safety and environmental protection.According to a release from the agency, the “Specification 6A”…
London-based Tailwind Energy has announced the completion of the acquisition of Houston-headquartered oil and gas firm EOG Resources's UK portfolio. The oil and gas venture announced two months ago it has agreed with EOG Resources Inc to acquire EOG’s UK business…
Danish wind energy giant Orsted completed its previously announced takeover of Deepwater Wind from D.E. Shaw group in a deal valued at $510 million.The company closed the transaction of acquiring 100% of equity stake held by D.E. Shaw group in Deepwater Wind…
Eni president Claudio Descalzi has met Angola's president Joao Goncalves Lourenco in Luanda to discuss the Italian energy giant's operations in the country.During the meeting with President João Lourenço, Claudio Descalzi said that they discussed…
The manufacturer of specialty equipment for the oil and gas industry HydraWell has completed an offshore decommissioning project for TAQA in the Netherlands.The plugging job was conducted at one of the fields connected to the TAQA-operated P15 platform…
The UK has enough oil reserves to sustain production for the next 20 years and beyond, new figures indicate.A report published by the UK Government suggests that the overall remaining recoverable reserves and resources in the North Sea range from 10 to 20 billion barrels plus of oil equivalent…
Aquaterra Energy announced Thursday it has been awarded a contract by Equinor to deliver early well construction operations for the next 16 wells of the Johan Sverdrup field development in the Norwegian North Sea.The award follows Aquaterra…
LOC Group’s Houston office provides perspective on decommissioning developments in the Gulf of Mexico.The Gulf of Mexico basin covers approximately 1.6 million km2 and is one of the most important petroleum production regions in the world. A…
Norway's Ministry of Petroleum and Energy and Ministry of Finance has approved the transaction from AS Norske Shell and OKEA concerning the transfer of the licenses associated with the Draugen field in the Norwegian Sea and the Gjøa field in the North Sea…
London-based E&P company Panoro Energy said its Norwegian subsidiary Panoro Tunisia Production has reached an agreement with OMV Exploration & Production GmbH to acquire 100 percent of the shares of OMV Tunisia Upstream GmbH.According to the Oslo-listed company…
Poland has announced ambitious plans to develop 8 GW of offshore wind by 2035 and the country is working on laws that could support this project.Polish State Secretary for Energy Grzegorz Tobiszowski said the country has the potential to develop the capacity in the Baltic Sea up to 2035…
Brazil's right-wing President-elect Jair Bolsonaro said on Wednesday that the chief executive of state-controlled oil company Petroleo Brasileiro SA, Ivan Monteiro, is not expected to stay on during the new administration.Speaking to reporters…
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