U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output…
Murphy Oil Corp said on Thursday it is exiting Malaysia with the $2.13 billion sale of its oil and gas assets to a Thai company and will use the deal proceeds to pay down debt, buy back shares and fund potential deals in the United States.The buyer…
North Sea focused oil producer EnQuest on Thursday committed to continue efforts to cut its $1.77 billion debt this year after reporting a jump in full-year profits on the back of increased production.Chief Executive Amjad Bseisu said, 'We are committed to further reducing our debt…
In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles.Workers at its Remuda lease near Carlsbad - part of a staff of 5…
Oil prices rose to new 2019 highs on Tuesday, supported by OPEC supply cuts and falling output from Iran and Venezuela because of U.S. sanctions.Brent crude oil futures were up 16 cents at $67.70 a barrel at 1415 GMT, having earlier risen to a 2019 peak of $68…
Malaysian state oil firm Petronas has set the price factor for Malaysian Crude Oil (MCO) for April at $5.50 per barrel, up 10 cents from the previous month, the company said on TuesdayThe monthly price factor is added to the average of Platts'…
Hurricane Energy's floating production, storage and offloading (FPSO) vessel has been connected to the group's North Sea Lancaster oilfield, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.Hurricane…
Oil edged further above $67 a barrel on Monday, supported by the prospect of prolonged OPEC-led oil supply curbs though concern that an economic downturn may dent fuel consumption curbed gains.OPEC and non-OPEC ministers who met in Azerbaijan…
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics.Present: top U.S. diplomat Mike Pompeo. Absent: leading Saudi and Russian officials…
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts.Drillers cut one oil rig in the week to March 15…
How Russia sank billions of dollars into Venezuela quicksandReuters estimates that after sinking more than $9 billion into Venezuela in loans, acquisitions and project spending since 2010, Rosneft, which is majority owned by the Russian state…
Houston-based subsea engineering company Oceaneering International has secured a contract renewal from Equinor, the Norwegian multinational energy company, covering the provision of maintenance, reliability and integrity management.The oilfield provider of engineered services and products…
Norwegian oil and gas exploration company Wellesley Petroleum has drilled another dry well in the Norwegian section of the North Sea, 220 kilometers northwest of Stavanger.The explorer for oil and gas sees second dry well this year with latest probe using semisub Transocean Arctic…
Emerson and Repsol announced they have established a strategic alliance to deliver advanced subsurface geophysical technologies to reduce the time to prospect and produce first oil.Emerson, a global engineering and technology company, will…
Italian oil major Eni said on Wednesday it has made a major discovery in Block 15/06, in the Agogo exploration prospect, in the deep waters offshore Angola.The find is Angola's largest offshore discovery in years. Eni said the discovery is estimated…
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