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…
Texas-based offshore drilling contractor Rowan Companies announced that it has concluded the sale of two LeTourneau TARZAN Class jack-up rigs, the Scooter Yeargain and the Hank Boswell, to ARO Drilling.The net economic impact of this transaction…
Venezuela on Wednesday increased wages for workers at state energy company PDVSA after employees staged small protests to decry meager salaries amid the OPEC nation's economic meltdown.Socialist President Nicolas Maduro in August unexpectedly…
Mexico plans to enforce fines imposed on Odebrecht over corruption allegations by confiscating some $30 million owed by state oil company Pemex to the Brazilian firm, a top official at the public administration ministry said.Christian Ramirez…
Plans by Australia's AGL Energy to start importing liquefied natural gas from 2021 will be delayed after the state of Victoria called for the company and its pipeline partner to submit a full environmental assessment of their project.The review process typically takes nine to 12 months…
The world's biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year as U.S. sanctions on Iran reduce crude exports from the Islamic republic.The range of views…
U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter.Oil majors, including Exxon Mobil, BP and Shell…
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