Baker Hughes Co posted a quarterly loss on Wednesday, compared with a profit a year ago, hit by $230 million in restructuring and impairment charges relating to the oilfield services provider's latest reorganization. The company during the recent…
Qatar Energy has reduced the term price for December-loading al-Shaheen crude oil to a premium of $4.19 a barrel above Dubai quotes after receiving lower bids in its tender, several trade sources said on Wednesday. This was down from a premium of $5…
The United Arab Emirates believes OPEC+ made the correct technical choice when it agreed to cut production and the unanimous decision had nothing to do with politics, energy minister Suhail al-Mazrouei said on Tuesday. His comments came after…
Exxon Mobil Corp said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project. Exxon did not say if it received any compensation for the assets…
Saudi Arabia's national oil company, Saudi Aramco, said Monday it was, in collaboration with international partners, establishing two offshore fabrication yards that aim to deliver a more than 200 percent increase in Saudi Arabia’s offshore fabrication capacity…
Oil output at the giant Exxon-led Sakhalin-1 Russian Pacific project collapsed following the U.S. major's refusal to accept local insurance for tankers after Western insurers pulled out due to sanctions, several industry sources told Reuters…
Norway's Equinor considering buying oilfields in the British North Sea from China's CNOOC, including a big stake in the huge Buzzard oilfield, two industry sources told Reuters on Monday. The deal is valued at between 20 billion and 30 billion Norwegian crowns ($1…
Malaysia's Petronas has signed a Production Sharing Contract (PSC) with TotalEnergies, Petronas Carigali, and Shell for Block 2K, an ultra-deepwater block off the coast of Sabah, Malaysia.According to Petronas, Block SB 2K, with a depth of up to 3…
The Philippines is seeking to revive its moribund upstream oil industry with the redevelopment of an oil field that last produced in the early 1990s, as it hopes to wean itself off fuel imports, energy officials said on Wednesday. With the Southeast…
Arabian Drilling Company, a Saudi oilfield services firm, said on Tuesday it will price its initial public offering at 100 riyals a share and is set to raise 2.67 billion riyals ($710.58 million).The final price is at the top end of a price range announced last month…
India is offering 26 oil and gas blocks and 16 coal bed methane blocks in its latest exploration licensing round, according to the country's upstream regulator, as the world's third largest oil consumer seeks to boost local output.'There is…
India maintains a 'healthy dialogue' with Russia and will look at what is offered following an announced ownership revamp to the Sakhalin-1 oil and gas project, Petroleum Minister Hardeep Singh Puri told Reuters. Russia last week issued a…
Malaysia Marine and Heavy Engineering (MMHE) has secured a contract from Shell in Malaysia for the engineering, procurement and construction (EPC) services of the offshore platform for the Rosmari-Marjoram gas project. The project is located off the coast of Sarawak…
Japan will decide what to do about the Sakhalin-1 oil and gas project in Russia's Far East in consultation with its partners as it reviews details of a decree by Moscow, Japanese industry minister Yasutoshi Nishimura said on Tuesday.Russia last…
Abu Dhabi National Oil Company (ADNOC) has awarded a $1.53 billion (AED 5.62 billion) contract to ADNOC Drilling, to expand ADNOC’s offshore operations and its objective to increase oil and gas production.ADNOC offshore division ADNOC Offshore awarded the two-year contract…
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