South Korea's Posco and Malaysia's Petronas Carigali have been awarded a Production Sharing Contract (PSC) for Block PM524, offshore Malaysia.Posco is the operator with an 80 percent stake and Petronas Carigali, a subsidiary of Petronas holds the remaining 20 percent…
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates.The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents…
Chevron Corp on Friday posted its highest quarterly profit in eight years on surging oil and gas prices and as a recovery in motor fuel demand that boosted refining margins.The strong results came a day after top executives from major oil companies were grilled by U…
Italian energy group Eni on Friday beat expectations with a third-quarter profit that jumped back to pre-COVID levels boosted by higher gas prices.The group swung to an adjusted net profit of 1.43 billion euros ($1.67 billion) from a 153 million euro loss a year earlier and beat a 1…
Chinese offshore wind turbine maker MingYang has secured an order to supply its 11MW offshore wind turbine for a floating wind project in Europe.The company said Friday the order was related to an offshore floating wind power pilot project in…
A disruption at a gas well in Indonesia's Merakes gas field is likely to affect the project's production for as long as six months, an official at the country's oil and gas regulator said on Thursday.The disruption, caused by a sand blockage…
TotalEnergies' earnings rose sharply in third quarter, the French energy group said on Thursday, as it reaped the rewards of surging power prices and predicted gas prices would remain high in Europe and Asia though next spring.The company's third-quarter adjusted net profit soared to $4…
Japan-based oil and gas firm Inpex has said it has sold its stake in an offshore block in D. R. Congo, from which it produced oil since 1975. An expected significant decline in production is the reason for the sale, Inpex said.Inpex has sold its shares in Teikoku Oil (D…
Danish wind turbine maker Vestas has said it has completed the construction of all the blades, nacelles, and most of the tower sections for Akita Offshore Wind Corporation's Akita Noshiro offshore wind farm project in Japan.The project will be Japan's first utility-scale offshore wind farm…
Oil prices extended pre-weekend gains on Monday to hit multi-year highs, lifted by tight global supply and strengthening fuel demand in the United States and beyond as economies recover from pandemic-induced slumps.Brent crude futures rose by 97 cents…
ADC Energy, an Aberdeen-based offshore rig inspection firm, has announced the completion of a trial with 'a major rig owner' that found that an upgrade to Dynamically Positioned (DP) rigs power systems can reduce carbon emissions by nearly 5…
QatarEnergy has signed a deal for a 40% stake in one of ExxonMobil’s major offshore explorations in Canada, the Qatar state-owned oil and gas firm said on Sunday.The deal marks QatarEnergy’s first foray into offshore exploration in Canada, the company said in a statement…
Global oil major ExxonMobil Corp is looking at buying a stake in some of the local deepwater fields of Indian explorer Oil and Natural Gas Corp, oil secretary Tarun Kapoor said on Friday.India, the world's third-biggest oil importer, and consumer…
Schlumberger NV reported a rise in third-quarter adjusted income on Friday, buoyed by higher demand for the company's oilfield services and related equipment from producers looking to capitalize on a rebound in crude prices.Global crude prices rose 4…
East Timor wants to press ahead with plans for a carbon capture and storage (CCS) project in a depleted oil and gas field off its coast as it races to fill a multi-billion dollar revenue hole starting in late 2023 when the field dries up.The…
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