Saudi Arabia's giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world's biggest listing as the kingdom seeks to diversify its economy away from oil…
Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.The Organization of the Petroleum Exporting Countries…
Aker Energy's planned development of an oilfield in Ghana faces delay due to a disagreement with authorities over regulations, Norwegian investment company Aker ASA said on Friday.Aker said in May it expected Ghanaian authorities to approve a $4…
The International Court of Justice has delayed to early November the hearing of the maritime border dispute between Kenya and Somalia and hence delaying further the earlier approved offshore oil and gas exploration activities by both countries…
As global oil firms make ever-bigger bets on Brazil's massive deepwater fields in its 'subsalt' area, a swarm of small and mid-sized companies has sprung up to specialize in lower-profile fields that still produce over a third of the country's crude…
Total said it has signed an agreement to sell wholly owned subsidiary Total E&P Deep Offshore Borneo BV — which holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei — to Shell for $300 million.“This transaction…
In the shale field that helped launch the U.S. natural gas boom a decade ago, Chesapeake Energy Corp this month set aside its last drilling rig. The problem for the once No. 2 U.S. gas producer was not a lack of gas, but too much of it.A long…
Baker Hughes Co reported a rise in quarterly adjusted profit on Wednesday, helped by increased demand for its oilfield services and higher margins for its turbomachinery such as gas turbines and compressors.The company's results contrasted with…
Heavyweight oilfield service providers like Saipem and Baker Hughes are moving past just oil and gas projects and embracing more renewable energy projects going forward.In 2014, non-upstream oil and gas activities accounted for 22% of revenues among service suppliers…
BP's profits fell sharply in the third quarter, hurt by lower oil prices, but strong refining operations helped the company beat expectations even after taking a one-off $2.6 billion charge linked to asset sales.BP, like other big energy companies…
From 2022 the Johan Sverdrup field will supply the Gina Krog, Ivar Aasen and Edvard Grieg fields with power from shore. The area’s licence partners have recently agreed on maximizing the utilization of power from shore to the area by enabling…
Swedish marine energy developer Minesto AB has renewed the collaboration agreement with National Taiwan Ocean University (NTOU) to explore the potential for Minesto’s Deep Green technology in Taiwan.The renewed collaboration agreement with NTOU's…
Energy group Eni achieved its highest ever oil and gas production rate for a third quarter, softening the blow of lower quarterly earnings because of weak oil and gas prices.The Italian company generates around 90% of its operating profit from its upstream oil and gas business…
Royal Dutch Shell and Exxon Mobil have paid $1.7 million to Somalia to lease offshore blocks for 30 years, the country's state news agency reported on Friday.'Shell/Exxon Mobil have paid $1.7 million to Somalia as the preliminary rent for 30 years…
Bernhard Schulte Offshore GmbH (BSO) and MidOcean Wind (MOW) have entered into a joint venture to build and operate support vessels for the US offshore wind industry as well as explore opportunities in other sectors of U.S. merchant shipping…