U.S. oil and gas company Murphy Oil has slashed capital spending plans by $500 million citing 'current market conditions and recent commodity price volatility.' The company plans to preserve dividend payments.Murphy’s revised 2020 budget is approximately $950 million…
Somalia has agreed an initial roadmap with a Shell/Exxon joint venture to explore and develop potential offshore oil and gas reserves, the Ministry of Petroleum and Mineral Resources said on Monday.'I am delighted we have agreed an initial roadmap with the Shell/Exxon joint venture…
Jack-up drilling contractor Borr Drilling's Chairman has said that 2019 was a record year when it comes to jack-up rig contract years awarded and that demand is high for modern jack-ups.In a statement Friday, the Chairman of the Board, Paal…
Greek oil company Energean Oil and Gas has signed a deal to buy Total’s stake in Block 2, offshore Western Greece.Energean said the acquisition would provide material exploration opportunities in its core area of the Eastern Mediterranean with limited financialexposure…
Bahamas Petroleum Company has received environmental authorization for its Perseverance #1 offshore well, expected to spud in April offshore The Bahamas.'Authorization represents the conclusion of an extensive and thorough process over many years…
Lebanon's much-delayed search for offshore oil and gas is set to begin on Thursday with the results from its first exploratory well expected in the next two months, the chairman of the Lebanese Petroleum Administration (LPA) said on Wednesday…
U.S. Senator Marco Rubio on Tuesday said he was confident the administration of President Donald Trump will extend a ban on oil and gas drilling off Florida, despite its enthusiasm for opening much of the country's coasts to petroleum development…
Wintershall Dea Norge has reduced the size estimate of its Baldebra discovery in the Norwegian Sea, after an appraisal well near the 2018 gas find proved dry.The 6604/5-1 gas discovery was proven in Upper Cretaceous reservoir rocks (the Springar Formation) in 2018…
Norwegian offshore safety regulator PSA Norway on Monday gave its approvals for offshore exploration drilling plans by Wintershall Dea Norge and Capricorn Norge. Wintershall Dea Norge, a Norwegian subsidiary of the German company Wintershall Dea…
Seacrest-capital backed Azinam and Oslo-listed Panoro Energy have agreed to farm into Africa Energy's Block 2B offshore South Africa, which contains the A-J1 oil discovery.Azinam will take a 50% stake and become the operator of the block, while Panoro will acquire a 12% percent share…
Norwegian company Equinor has become the third major fossil fuel producer to abandon plans to drill for oil in the Great Australian Bight, after years of work. Previously, BP and Chevron canceled their drilling plans in the area, in 2016, and 2017 respectively…
Greenpeace and its partners on Monday asked Norway's supreme court to rule on the legality of the country's Arctic oil and gas exploration licenses, in a case that could block the petroleum industry's expansion plans. If the supreme court takes up the case…
OMV Norway has applied for an environmental permit to drill the Hades appraisal well in the Norwegian Sea about 280 kilometers north of Kristiansund.The subsidiary of Austria's OMV plans to use the Island Innovator semi-submersible drilling…
Tower Resources Cameroon SA, a wholly-owned subsidiary of Africa-focused Tower Resources Plc, has hinted at good progress on the ongoing discussions with potential farm-in parties into the Thali PSC offshore Cameroon.The progress in the negotiations…
South Korea's Posco International has made a gas discovery at the Mahar well offshore Myanmar.Located in Block A3, the well was drilled using the Maersk Viking drillship in a water depth of 1000 meters.The Korea Herald has reported that the…
Subscribe
