The Organization of the Petroleum Exporting Countries (OPEC) and their allies, known as OPEC+, needed to narrow the gap between their oil production targets and actual output, the International Energy Agency's (IEA) head Fatih Birol said on Wednesday…
MacGregor, part of Cargotec, has won a contract to supply two FPSO offloading systems for the Liuhua 11-1/4-1 redevelopment project located in the east part of the South China Sea. The contract has been awarded following the successful cooperation…
Oil prices were stable around $90 a barrel on Wednesday but the prospect of increased supply from Iran and the United States kept pressure on the market.Brent crude futures edged down 36 cents, or 0.4%, to $90.42 a barrel by 1150 GMT. U.S. West Texas Intermediate crude fell 43 cents…
Oil major Shell expects its Prelude FLNG unit in Australia, the world's largest unit of the type, will remain shut for most of the first quarter of 2022.The world's largest FLNG facility had in January 2021 resumed LNG cargo shipments, almost one year after a shutdown caused by an electrical trip…
Shell boosted its dividend and share repurchases on Thursday after its fourth-quarter profits soared to $6.4 billion on the back of higher oil and gas prices.Shell, which moved its headquarters from The Hague to London last month, said it expected…
OPEC+ agreed on Wednesday to stick to moderate rises in its oil output, two sources from the group said, despite pressure from top consumers for a bigger increase in supply after crude prices hit seven-year highs.The Organization of the Petroleum Exporting Countries and allies led by Russia…
Samuel Terry Asset Management Pty Ltd has launched a takeover offer for W. Africa-focused oil and gas company FAR.Samuel Terry Asset Management Pty Ltd as trustee for Samuel Terry Absolute Return Active Fund launched an offer to acquire FAR’s shares at 45c cash per share…
A beach in eastern Thailand was declared a disaster area on Saturday as oil leaking from an underwater pipeline in the Gulf of Thailand continued to wash ashore and blacken the sand.The leak from the pipeline owned by Star Petroleum Refining…
Oil company EnQuest has awarded a contract to the Malaysian oilfield services company Uzma Engineering for the provision of a hydraulic workover unit for EnQuest's 2022 workover program in Malaysia.Uzma's work scope includes integrated hydraulic…
Malaysia's state energy firm Petronas said it was offering 14 offshore exploration blocks, six clusters of discovered resource opportunities (DRO), and one cluster of late-life assets (LLA) in its annual bid exercise launched on Thursday.The…
Woodside Petroleum Ltd joined on Thursday multinational oil majors Chevron Corp and TotalEnergies in their plans to exit Myanmar, nearly a year after a military coup plunged the Southeast Asian nation into turmoil.Myanmar has faced unrest since…
Thailand's state oil and gas explorer looks set to take over Myanmar's biggest gas field, as TotalEnergies and Chevron Corp exit in the wake of last year's coup in the Southeast Asian state, analysts say.A move by PTT Exploration and Production Pcl (PTTEP) to become operator of Yadana field…
Morgan Stanley expects Brent crude oil prices to advance to $100 a barrel in the second half of this year, with the market heading for a simultaneous 'triple deficit' of inventories, spare capacity, and investment.'The key oil products markets (gasoline…
Australian gas producer Santos Ltd booked record sales revenue for 2021, pumped up by soaring oil and gas prices, and expects to reap big gains following its $6.2 billion takeover of Oil Search amid a surging energy market.After approaching Oil Search with an offer in the middle of last year…
Oil majors TotalEnergies and Chevron Corp, partners in a major gas project in Myanmar, said on Friday they were withdrawing from the country, citing the worsening humanitarian situation following last year's coup.Shell, in its first public acknowledgment of the move…
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