A unit of the National Iranian Oil Co. (NIOC) signed a deal with a local firm on Sunday to build a crude oil storage facility near Iran's southeastern port of Jask with an initial investment of 200 million euros ($232 million), the oil ministry news website SHANA reported…
Equinor has signed an agreement to acquire Chevron’s 40 percent operated interest in the Rosebank project, one of the largest undeveloped fields on the U.K. Continental Shelf (UKCS). The parties did not disclose the commercial terms of the agreement…
Russia's Sakhalin-1 consortium, led by ExxonMobil, has agreeed to pay $230 million to Russian energy giant Rosneft as part of an out-of-court settlement, the managing director of consortium partner ONGC Videsh told Reuters on Friday.The deal…
Energy exports from Norway to Britain will not be affected even if Britain leaves the European Union without a deal, Norway's energy ministry said on Friday.'Energy trade is governed by bilateral commercial agreements. We hence expect that energy exports from Norway to Britain will not be affected…
Petrogal, the Brazilian unit of Portugal's Galp, plans to spend $800 million to $1 billion annually in the coming years in Brazil to develop its current oil and gas assets and boost its stake offshore, its chief executive officer said on Thursday…
Oil prices rose on Friday as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production.Global crude oil benchmark Brent was up 60 cents at $82.32 a barrel by 1340 GMT. The contract hit a four-year high of $82…
A consortium made up of Royal Dutch Shell and Chevron Corp won the Saturno block in the Santos basin in Brazil's pre-salt offshore oil auction on Friday, outbidding a rival group led by Exxon Mobil Corp.Shell's consortium won by pledging 70…
Exxon Mobil Corp will focus on drilling and production in Brazil now that it has acquired lots of oil blocks in the country, the company's chief executive officer in Brazil, Carla Lacerda, said on Thursday.Exxon also sees new opportunities in Brazil's biofuels…
Oil edged higher on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in just five weeks' time.U.S. President Donald Trump this week demanded that OPEC raise…
Petróleo Brasileiro SA will pay an $853.2 million fine to settle U.S. criminal charges the Brazilian state-run oil company bribed politicians and then sought to conceal the payments, the Justice Department said on Thursday.The settlement with U…
Malaysian oil and gas exploration and production company Hibiscus Petroleum is aiming to double its oil output in the United Kingdom and Malaysia to 20,000 barrels per day (bpd) by 2021, a senior company executive said on Thursday.It needs an…
Austria's OMV started production at Abu Dhabi's SARB and Umm Lulu's offshore oil fields, expecting to produce 25,800 barrels per day by year-end, it said on Thursday.The gas and oil group took a 20 percent interest in the two oilfields off the United Arab Emirates under a $1…
Brazil's Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said.Petrobras' 2019-2023 business plan, set to be released in December…
U.S. oil group Chevron has a potential buyer for its stake in one of the UK North Sea's biggest oil and gas developments, a company spokeswoman said on Wednesday.The sale of its 40 percent stake in the Rosebank project would mark Chevron's complete…
Oil prices eased on Wednesday but were still heading for a fifth consecutive quarter of gains, driven by an impending drop in Iranian exports in the last three months of the year when global demand heats up.Brent crude futures were last down 49 cents on the day at $81…
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