Portfolio investors purchased petroleum contracts for the first time in seven weeks as traders squared up short positions ahead of a meeting of OPEC⁺ ministers to decide production policy in the second half of 2024.Hedge funds and other money…
ConocoPhillips is in advanced talks to buy Marathon Oil in an all-stock deal that could value the Houston-based company at a little over its $15 billion market value, the Financial Times reported on Wednesday citing people briefed on the matter…
Maryland Governor Wes Moore signed a bill aimed at reevaluating and potentially revising existing offshore wind project plans, setting the stage for the state's goal of achieving 8,500 megawatts of offshore wind energy capacity by 2031.The bill…
Brazilian state-run oil company Petrobras said on Monday that its crude oil production during the first quarter rose 4.4% compared to the same period last year.Petrobras pumped 2.24 million barrels per day (bpd) in the period, the firm said in a statement…
The price to rent an offshore rig hit a nine-year high last year with jackups, semisubmersibles and drillships costing on average $118,000, $368,000 and $419,000, respectively (as of 31 December 2023). These figures represent an overall 54% increase in dayrates when compared with 2021…
In recent years, the oil and gas industry has faced mounting pressure to address its environmental impact. This has led many companies to set decarbonization targets – we are tracking more than 460 targets set by independents, majors, and NOCs across the sector…
The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters.Abu Dhabi National Oil Company (ADNOC)…
The EU will investigate subsidies received by Chinese suppliers of wind turbines destined for Europe, in the bloc's latest move to shield domestic firms from cheap clean tech products.The European Commission will look into conditions for the development of wind parks in Spain…
Marine fuel services and solutions provider KPI OceanConnect has completed its first simultaneous operation of LNG bunkering in Singapore.KPI OceanConnect conducted the operation for MSC Mediterranean Shipping Company’s Monica Cristina vessel in Singapore…
U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess's Guyana assets.Exxon on Wednesday filed a contract arbitration…
Exxon Mobil Corp on Wednesday said it filed a contract arbitration claim disputing Hess Corp's proposed sale of its Guyana oil properties, and suggested it may counter Chevron Corp's pending deal for the assets.The arbitration case seeks to…
Oil and gas company Energean has brought the Karish North and second gas export riser online at the Karish field in the Mediterranean Sea, offshore Israel.Karish North first gas was safely achieved on February 22, 2024, Energean informed. The…
Valeura Energy has bought the Nong Yao field’s FSO Aurora for $19 million, and expanded the drilling program at its Wassana field in light of favorable initial results.In a February 13 update shared by the company, Valeura said it had exercised…
Petrogas E&P Netherlands, part of Oman-based Petrogas E&P, has started producing gas from the A15 platform installed in the Dutch North Sea.Petrogas E&P Netherlands, along with its partners EBN, Rockrose, and TAQA, produced first gas from the A15 project on February 12…
Offshore drilling contractor Noble Corporation has secured contract extension for its harsh-environment jack-up rig Noble Resolute in the North Sea.The contract extension for Noble Resolute comes from Petrogas E&P Netherlands, part of Oman-based Petrogas E&P…
Subscribe
