Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020…
German oil firm Wintershall's flagship project in Norway - the Maria oil and gas field - is not meeting output expectations due to water injection issues, the company said on Monday.The field, which started nine months ahead of schedule at end-2017…
The Oseberg Vestflanken 2 field in the North Sea came on stream on Sunday. Remote-operated from the Oseberg field center, the new Oseberg H platform is the first unmanned platform on the Norwegian Continental Shelf. Recoverable resources are 110 million barrels…
Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook.Benchmark Brent crude oil jumped by $1.49 a barrel to a high of $81.92 before giving up its gains to trade around $80…
India's Petronet LNG Ltd said on Monday its talks to invest in Qatar's exploration and production sector had 'slowed down,' as the company had not been able to reach an agreement on pricing with the Middle Eastern nation.'Qatar is still at a very preliminary stage…
Spain's Cepsa postponed what would have been the largest oil company listing in a decade on Monday, the latest IPO to succumb to a global sell-off in equity markets.Cepsa's owner, Abu Dhabi state investor Mubadala, had planned to raise about 2 billion euros ($2…
The Aoka Mizu floating production, storage and offloading (FPSO) vessel ordered by Hurricane Energy has left Dubai following a series of upgrades, the company said, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain…
Aker BP has agreed to buy Equinor's 77.8 percent stake in Norway's King Lear gas and condensate discovery for $250 million in cash, the two companies said on Monday.The North Sea discovery has estimated reserves of 77 million barrels of oil equivalents…
U.S. Gulf of Mexico producers have cut oil output by 32 percent and natural gas production by 13 percent as a result of the lingering effects of Hurricane Michael, the Bureau of Safety and Environmental Enforcement (BSEE) said on Friday, citing reports from 27 companies…
The U.S. oil drilling rig count rose this week for the first time in four weeks even as crude prices tumbled to their lowest in almost three weeks.Drillers added eight oil rigs in the week to Oct. 12, bringing the total count to 869, General…
Norway's Equinor has awarded Maersk Drilling AS a five-month contract for the Maersk Intrepid rig to provide operational support on the Martin Linge field in the North Sea. Two extension options will also be exercised, and four new options will be added…
Brazil's state-controlled oil company Petroleo Brasileiro SA is forming a joint venture with Murphy Oil Company to explore oil and gas fields in the Gulf of Mexico, the Brazilian company said on Wednesday in a securities filing.According to the filing…
Royal Dutch Shell expects a landmark corruption trial over a Nigerian oil deal to last many months, warning staff of continued critical media coverage in the $1.3 billion case, according to an internal memo seen by Reuters.Shell's Legal Director…
Angola, Africa's second largest crude producer, could partially list state oil company Sonangol, a spokesman for the ministry of mineral resources and oil said on Thursday.This follows comments by Mineral Resources and Oil Minister Diamantino Azevedo…
A power outage has shut down production at Equinor's Stafjord A platform in the North Sea and a restart time was as yet unclear, a company spokesman said on Thursday.'We are still investigating the reasons of the power outage, which happened before midnight…
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