Russia's largest oil firm, Rosneft, snubbed a meeting chaired by Energy Minister Alexander Novak on Thursday aimed at consulting domestic energy companies as leading global producers signal a possible cut in crude output.A return to oil production…
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 has been forced to close the Sture Oil Terminal near Bergen and has started closing down the nearby Kollsness gas-and-condensate terminal — a lifeline of heating gas to Europe — after an early morning collision between a $440-million frigate and an oil tanker…
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…
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…
Ghana has approved state-owned company GOIL as minority local partner for Exxon Mobil's deepwater offshore oilfield, Energy Minister Peter Amewu said on Wednesday.The West African nation is receiving 'huge interest' from international and local…
Gabon plans to scrap a 35 percent corporate tax on energy companies as part of a revised hydrocarbons law and has launched a new offshore oil and gas exploration licensing round for 34 blocks, Oil Minister Pascal Ambouroue said on Wednesday…
South Africa's cash-strapped power firm Eskom has approved a plan to cut executives jobs as it struggles to bring down operating costs, the utility said on Wednesday, the first step in the firm's proposed restructuring.'Eskom's operating costs…
The Republic of Congo has launched its latest oil exploration bidding round in Cape Town, offering 18 blocks in deep-water offshore and onshore sites in its efforts to boost production, the ministry of hydrocarbons said on Tuesday.Operators already in the country…
Nigeria's Senate voted on Tuesday to probe the state oil firm's alleged withdrawal of $1.05 billion from gas company Nigeria LNG.The Premium Times newspaper reported on Monday that the Nigerian National Petroleum Corporation (NNPC) had used…
Africa-focused Tullow Oil expects the first crude shipments from its Kenyan oilfields in the first half of 2019 and is pricing the product for the market, the company's chief executive said on Tuesday.Paul McDade also told Reuters that Tullow…
Brazil's Petroleo Brasileiro SA on Tuesday reported a surge in third-quarter net profit that still lagged forecasts as oil prices rose but spending at the state-owned company jumped.Petrobras made a net profit of 6.644 billion reais ($1.78 billion)…
North Sea operator Serica Energy has struck a deal with commodities giant BHP Billiton to up its stakes in two North Sea fields, taking it above 90 per cent ownership of the assets.Under the a sale and purchase agreement (SPA), Serica UK will acquire a 16…
Norway’s Uptime International has entered into two new contracts with compatriot vessel provider Island Offshore.'Island Clipper has secured a three-year agreement with Equinor as combined PSV and walk to work vessel. The vessel will be equipped with battery package…
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