The Southeast Asian focused oil company Coro Energy will not be buying a share in the Bulu PSC, offshore Indonesia, citing increased risks around the Bulu project.'The company had in September 2018 agreed to buy a 42.5% interest in the shallow water (60m) block offshore East Java…
Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike which killed a top Iranian military commander.Brent crude futures soared to a high of $70…
Oil rose on the last trading day of the decade on Tuesday and was on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.Brent crude was up 11 cents at $66.78 a barrel by 1143 GMT…
Oil rose towards $68 a barrel to its highest in over three months on Thursday, buoyed by a report showing lower U.S. crude inventories, hopes of an end to the China-U.S. trade dispute and OPEC-led efforts to constrain supply.The American Petroleum Institute…
Malaysia's Terengganu state said on Wednesday it was open to buying a stake in national energy giant Petronas, after Prime Minister Mahathir Mohamad said he was considering such a sale to raise funds for his heavily-indebted federal government…
Santos Ltd on Tuesday increased its forecast for 2025 production by 20% underpinned by oil and gas projects it plans to develop in Australia and Papua New Guinea.The company plans to produce 120 million barrels of oil equivalent (mmboe) a year by 2025…
Oil rose above $62 a barrel on Thursday after China hinted at progress towards a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and demand for fuel.China and the United States…
Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.The Organization of the Petroleum Exporting Countries…
Total said it has signed an agreement to sell wholly owned subsidiary Total E&P Deep Offshore Borneo BV — which holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei — to Shell for $300 million.“This transaction…
CNOOC Ltd, the listed arm of China's largest offshore oil and gas producer, on Thursday reported a 27.9% jump in capital spending in the third quarter amid Beijing's push to boost oil and gas exploration and production.Capital expenditure at CNOOC reached 19…
CNOOC, China's largest offshore oil and gas producer, on Thursday said it would be affected by U.S. sanctions on its COSCO shipping firm but there would be no impact on its oil and gas production.'(The sanctions) will have some impact on our…
India is expected to drive capacity growth in Asia and Oceania’s liquefied natural gas (LNG) regasification industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 35% of the total growth.According…
U.S. oilfield services company McDermott International Inc on Monday agreed with some of its lenders for additional funding of up to $1.7 billion, sending its shares up 25% in trading before the bell.Under the terms, the company said it would have immediate access to $650 million in financing…
There is no future for companies that work only in oil and gas in the medium- to long-term, the head of Italian major Eni said on Friday.'Diversification into renewable energy and the circular economy is crucial,' Claudio Descalzi told financial daily Il Sole 24 Ore in an interview…
Oil freight rates in the Middle East and Asia have increased by almost 20 percent today following new US sanctions on units of Chinese company COSCO for its alleged involvement in ferrying crude oil out of Iran.In what the U.S. State Department…
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