Vantage Drilling has entered into a merger agreement under which Norway-based Eldorado Drilling will acquire the offshore drilling contractor in a transaction valuing the company's equity at approximately $257.6 million.Under the agreement, Vantage shareholders will receive $19.00 per share in cash. The transaction has been unanimously approved by Vantage's board of directors, which has recommended that shareholders vote in favor of the deal…
Kuwait could restore nearly 70% of its oil production within six to eight weeks after the Strait of Hormuz reopens, Kuwait Petroleum Corporation's managing director for international marketing, Shaikh Khaled Ahmad Al-Sabah, said on Wednesday…
Cambodia said on Tuesday it had launched a compulsory conciliation process under international law aimed at resolving a long-running maritime boundary dispute with Thailand and had informed the United Nations and Bangkok.The move follows a Thai…
QatarEnergy has signed a memorandum of understanding (MoU) with TotalEnergies, ConocoPhillips and the Syrian Petroleum Company for cooperation in offshore oil and gas exploration in Syria.The agreement covers a technical review to assess the…
ADNOC Drilling has completed its acquisition of an 80% stake in MB Petroleum Services (MBPS), forming a joint venture that expands its presence across Gulf markets and increases its total fleet to 170 rigs.The transaction, completed ahead of schedule…
Thailand on Tuesday unilaterally terminated a longstanding agreement with Cambodia to work towards joint offshore energy exploration, defying calls from its neighbour to stay the course on the 25-year-old pact.The Thai cabinet's cancellation of the agreement…
Oil prices dived, stocks surged and the dollar was knocked back on Wednesday as a two-week Middle East ceasefire sparked a relief rally, fuelled by hopes that oil and gas flows through the Strait of Hormuz could resume.The news capped weeks of market volatility and geopolitical upheaval after U…
The United Arab Emirates has told the U.S. and other Western allies it would participate in a multinational maritime taskforce to reopen the Strait of Hormuz, the Financial Times reported on Friday, citing people familiar with the matter.The…
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