Energy News

Exxon Cuts Spending by $10B

1 hour ago

Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree in shale, LNG and deep water oil production and will cut planned capital spending this year by $10 billion as the coronavirus pandemic saps energy demand and oil prices…

Global Petroleum in Offshore Namibia 'Data for Equity' Deal

2 hours ago

Oil company Global Petroleum has exchanged part of its stake in offshore Namibia Block, 2011A (PEL0094), with NAMCOR, for a right to get access to pre-existing 3D seismic data over the block.'This key data, acquired by previous licensees in 2010…

Chinese Refiners Buy Rare North Sea, Guyana Crude at Low Prices

3 hours ago

Chinese independent refiners have snapped up rare crude grades from the North Sea and Guyana at low prices in an oversupplied market after the coronavirus pandemic destroyed demand, four sources with knowledge of the matter said on Tuesday.The North Sea grades bought included Balder…

Ithaca Cuts Spending. Cashflow Buoyant Even at $1 a Barrel

4 hours ago

Delek's British North Sea oil and gas producer Ithaca Energy will cut spending by about half to $120 million this year, it said on Tuesday, adding that cashflow remains strong in spite of a recent slump in oil prices.Ithaca, which its owner has said could list on the London stock market this year…

BP Terminates Senegal/Mauritania Survey Deal with EMGS

4 hours ago

British oil major BP has terminated the contract with the Norwegian offshore survey company EMGS for a survey in Senegal and Mauritania, where it operates the Tortue Ahmeyim offshore development. As previously reported, EMGS had mobilized its Atlantic Guardian vessel…

Australia: Shell Postpones Crux Project FID

5 hours ago

Royal Dutch Shell said on Tuesday its Australian unit and joint venture partners had decided to delay a final investment decision (FID) on the Crux gas project in offshore Australia that was initially planned for 2020.The Crux project is one…

Total Sells Brunei, Sierra Leone, and Liberia Assets for $400M+

6 hours ago

French oil firm Total has said it has sold assets in Brunei, Liberia, and Sierra Leone for more than $400 million, as part of its plan to divest $5B worth of assets in 2019-2020 period.The divestments announced Tuesday include non-core assets…

Wintershall Dea Discovers Oil at Bergknapp Prospect Off Norway

6 hours ago

Wintershall Dea Norge has made an oil discovery at the Bergknapp prospect in the Norwegian Sea, offshore Norway.The wildcat well 6406/3-10 (as it is formally named) is located in the production license 836 S, about eight kilometers west of the…

Norway May Join OPEC Meeting

Apr 06, 2020

Norway has been invited to and is considering attending the OPEC meeting on April 9 as an observer, and would reduce output provided there is broad support to do so, the country's oil ministry said on Monday.The ministry reiterated in an email…

Petrofac Confirms Capex, Jobs, Salaries Cuts

Apr 06, 2020

UK oilfield services provider Petrofac has confirmed it is planning staff reductions and furloughing as part of its action to save cash in response to low oil prices and COVID-19 pandemic.Reuters last week reported that Petrofac was planning to reduce the workforce by 20%…

Pertamina Q1 Oil Output Slightly Below Target

Apr 06, 2020

Indonesia's state oil and gas company PT Pertamina produced 421,000 barrels of crude oil per day and 2,887 million cubic feet of gas per day (mmscfd) in the first quarter of 2020, it said in a statement on Monday.'Amid work and personnel adjustment due to the COVID-19 pandemic…

Dubai Petroleum Shortens Another Shelf Drilling Rig Contract

Apr 06, 2020

Jack-up drilling rig contractor Shelf Drilling has been slapped with another early rig contract termination, its third in the past month.Shelf Drilling on Monday said that it had entered into a mutual agreement with the client 'to amend the…

Lebanon in Another Offshore Round Delay

Apr 06, 2020

Lebanon has postponed the deadline for submissions of applications for its second offshore licensing round once again.Lebanon had in January postponed the deadline from January 31 to April 30 to allow international firms more time to pursue administrative…

Jersey Oil & Gas Names Board Advisor

Apr 06, 2020

Jersey Oil & Gas (JOG), a UK Continental Shelf focused oil company has appointed Chris Haynes, as a Board Advisor to the company.Haynes is a non-executive director of Australia-based Woodside Petroleum Limited and Worley Limited. 'Chris has…

Current News

North Sea FPSO Shut Down Due to Coronavirus Case Aboard

Havila Shipping Reaches Debt Restructuring Deal

Exxon Cuts Spending by $10B

Global Petroleum in Offshore Namibia 'Data for Equity' Deal

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