Norway plans to step up spending on looking for oil and gas in the northern Barents Sea close to its border with Russia, the country's 2019 budget showed on Monday.The government has proposed to allocate an extra 50 million Norwegian crowns ($6…
Seventy percent of funds needed to finance the Nord Stream 2 underwater gas pipeline from Russia to Germany have been raised, TASS news agency quoted the head of Russian gas giant Gazprom, Alexei Miller, as saying on Sunday.Nord Stream 2, which…
Orsted, the world's largest offshore wind developer, said on Monday it would buy U.S.-based Deepwater Wind LLC for $510 million as part of its strategy to expand in a major growth market.The still small U.S. offshore wind sector is seen as one…
Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's (ADNOC) drilling unit for $550 million under a tie-up announced on Monday.Baker Hughes (BHGE) becomes the first foreign…
Norway has again revised up the estimated cost of developing the Martin Linge oil and gas field, which state-controlled Equinor bought from France's Total last year, with the start-up delayed until 2020, according to the fiscal budget.The North…
Iran's Oil Minister Bijan Zanganeh has dismissed as 'nonsense' claims by the Saudi crown prince that Saudi Arabia can replace sanctions-hit Iranian oil in the market.'(Mohammed) bin Salman's remarks and such bragging can only satisfy (U.S. President Donald) Trump…
The United States is 'in the midst of an internal process' of considering sanctions waivers for countries that are reducing their imports of Iranian oil, a U.S. government official said on Friday.The Trump administration, which withdrew from a deal over Tehran's nuclear program in May…
Neptune Energy has appointed Odin Estensen as Managing Director of its Norwegian business, based in Stavanger.Estensen joins Neptune Energy from A/S Norske Shell, where he is currently the Norway Operated Asset Manager.With more than 28 years’ experience in the oil and gas sector…
Aker Solutions said it has secured an order from Petrobras to provide a subsea production system and related services for the Mero 1 project, the first full production project within the major Mero field development, one of the largest oil discoveries in Brazil's pre-salt area…
Brazil's state-controlled oil company Petroleo Brasileiro said on Friday it prepaid a 2 billion real ($516.13 million) loan due in 2020 from Banco do Brasil, and opened a new credit line for the same amount with the same bank due in 2025.The…
Royal Boskalis Westminster N.V. has been awarded the Tyra Redevelopment Subsea Installation Phase II contract by Total E&P Denmark.The sizable contract includes subsea engineering, procurement, fabrication and installation for the Tyra Redevelopment…
Oil held just below four-year highs on Thursday, supported by the imminent loss of Iranian supply through U.S. sanctions, but also tempered by the prospect of a rapid production increase from Saudi Arabia and Russia.Brent crude oil futures were down 33 cents at $85…
Aker Solutions has been awarded a five-year agreement to supply brownfield modifications, maintenance and operations support for BP's Greater Plutonio and PSVM fields offshore Angola.The work scope covers the supply of engineering, procurement…
Oil production at Eni's Arctic Goliat field off the coast of Norway will restart by Friday following maintenance, the company told Reuters on Thursday.The restart had originally been planned for Oct. 1, but Eni extended the outage to carry out…
OMV has agreed to buy Siberian assets from Gazprom instead of swapping them, the Austrian oil and gas group said on Wednesday.In 2016, OMV agreed to swap 38.5 percent of its Norwegian assets for 24.98 percent of the Russian company's Urengoy gas field…
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