Shell has agreed to sell its wholly owned subsidiary BG Cyprus to MOL Group for up to $720 million, giving the Hungarian energy company a 35% stake in Cyprus' Aphrodite offshore gas field.The transaction, which is subject to customary adjustments, milestone-linked contingent payments, regulatory approvals and other closing conditions, is expected to complete in early 2027.BG Cyprus holds a 35% non-operated interest in Cyprus Offshore Block 12…
An ExxonMobil-led joint venture has recovered the billions of dollars it invested to develop a large oilfield in Guyana, its chief financial officer told Reuters, and the South American country will now receive more oil money.Guyana's Stabroek Block…
ExxonMobil missed Wall Street estimates for second-quarter profit on Friday, despite notching its biggest quarterly profit in four years amid higher oil prices and improved refining margins driven by the ongoing U.S.-Israeli war with Iran.Adjusted earnings rose 67% from the first quarter to $14…
DOF Group ASA has been awarded firm contracts with a duration of more than 1 year and expected commencement in Q1 of 2027 for two of its AHTS vessels. The expected value of each contract is Significant, which DOF defines as contracts with value between USD$15 and 25 million.
A drone caused the fire that engulfed two gas vessels at Egypt's Mediterranean port of Damietta, the Egyptian cabinet said on Thursday, confirming for the first time that the blaze which erupted a day earlier was the result of an attack rather than an accident…
Italian energy group Eni on Wednesday lifted its share buyback programme by €600 million to €3.4 billion ($3.9 billion) after reporting better than expected second-quarter results.The company's adjusted net profit more than doubled in April-June compared with the same period last year to €2…
Italian oil and gas contractor Saipem on Monday revised down its expectations for 2026 core earnings to take into account extra costs linked to the Middle East crisis.The de-consolidation of its shallow-water drilling business, which Saipem recently sold…
QatarEnergy has extended force majeure on liquefied natural gas (LNG) supplies to several Asian buyers and continues to lease out some of its LNG tankers through mid-October, trade sources said, signaling expectations that export disruptions could persist as the Strait of Hormuz remains closed…
London-listed independent energy company EnQuest has cleared a key hurdle in its proposed $833 million acquisition of interests in four offshore production sharing contracts in Malaysia after existing partners waived their pre-emption rights over one of the three transaction packages…
OMS Group has started construction of CS Resilience, the third vessel in its next-generation GREAT-Class fleet, with a first steel cutting ceremony held at CRIST's shipyard in Gdynia, Poland.The milestone marks the start of construction of the cable-laying vessel…
DOF Group ASA announced a large contract award for Subsea Construction and Pre Commissioning Support services in the APAC Region.Skandi Inventor will be deployed for the execution of the offshore operations scheduled to commence in Q4 2026 in North Australian waters…
Lighting company Glamox has appointed Elisabeth Tapper as its chief business and marketing officer, a newly created role aimed at strengthening customer focus, commercial excellence and business development across its global operations.Tapper…
SBM Offshore has secured project financing worth $465 million for the Chalchi floating storage and offloading (FSO) vessel, being built for Woodside Energy's Trion project offshore Mexico.The financing has been provided by a consortium of international…
Around 1,000 Norwegian oil service workers were locked out on Saturday morning in an escalation of a labour dispute that is expected to disrupt drilling and some production on the Norwegian continental shelf.The lockout was declared in response…
Faced with declining production post-2030, across Sub-Saharan Africa (SSA), the Majors have started the process of reloading exploration hoppers. Targeting predominantly deep and ultra-deep waters, they have signed numerous agreements aimed…
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