Offshore Energy News


US Gulf Lease Sale Pulls in $159.4 Million

Aug 21, 2019

A major auction of oil and gas leases in the U.S. Gulf of Mexico on Wednesday received $159.4 million in high bids, government officials said.Combined with a March auction that drew $244.3 million in high bids, the total was the highest annual bid level since 2015…

Moods 'Upbeat' Heading into GoM Lease Sale -NOIA

Aug 20, 2019

Sentiment in the US offshore oil and gas industry is “generally upbeat” heading into the nation's next Gulf of Mexico lease sale, according to trade group National Ocean Industries Association (NOIA).On Wednesday in New Orleans, the Bureau of Ocean Energy Management (BOEM) will offer 77…

Brazil Okays BW Offshore's Oilfield Buy

Aug 19, 2019

Norwegean provider of floating production services to the oil and gas industry BW Offshore has won approval from Brazilian oil regulator ANP for the purchase of the Maromba oilfield, part of the Oslo-listed company's plan to become an operator and not just a supplier of oil services…

ExxonMobil Planning Exit from UK North Sea

Aug 16, 2019

ExxonMobil is considering a sale of its assets in the British North Sea after more than 50 years in the oil and gas basin as it focuses on U.S. shale production and new projects.The world’s largest publicly traded energy company has held talks…

Suriname Seeking Funds for Offshore Exploration

Aug 16, 2019

Suriname's state-owned oil company is planning a bond sale next year to finance offshore oil exploration, its chief executive said on Thursday, as it seeks to capitalize on growing hype over neighboring Guyana's looming oil boom.The company…

Woodside H1 Profit Slumps

Aug 15, 2019

Woodside Petroleum flagged a challenging near-term outlook on Thursday as it grapples to win over its partners to back $34 billion worth of new oil and gas projects amid a souring global environment.Australia's biggest independent oil and gas…

A Gleam of Hope for Kenya’s Offshore

Aug 15, 2019

Kenya’s offshore oil and gas sector has remained underexplored even as the country remains optimistic of making a breakthrough in the search for more hydrocarbons based on recent growth of its upstream operations.The agreement signed last July…

Mariner Field Comes On Stream

Aug 15, 2019

Norwegian energy company Equinor and its partners have started oil production from the Mariner field in the UK North Sea, the operator said on Thursday.The Mariner field, located on the East Shetland Platform of the UK North Sea, approximately…

UK Gas Prices Rise as Norway Imports Dip

Aug 13, 2019

British wholesale gas prices rose on Tuesday morning as imports from Norway fell, creating undersupply.Within-day gas price up 1.30 pence at 31.20 pence per therm by 0809 GMT.Day-ahead gas price up 0.90 p at 30.50 p/therm.'Prompt prices are all up a bit on lower supply…

Chinese Ship Returns to Vietnam's EEZ

Aug 13, 2019

A Chinese survey ship returned to Vietnam's exclusive economic zone off its coast on Tuesday, ship tracking data showed, less than a week after it left the area where vessels from the two countries were locked in a month-long standoff.The Haiyang…

Corvus Energy Gets Shell Ventures Investment

Aug 12, 2019

Canadian-Norwegian battery maker Corvus Energy announced that it has finalized an investment deal with Shell Ventures.The investment is a step towards Shell’s ambition to decrease the carbon footprint of the energy products they sell by around 20% by 2035 and by around 50% by 2050…

Petrobras Sells Stakes in Brazil Oilfields

Aug 12, 2019

Brazil's state-controlled oil company Petrobras sold stakes in a set of oilfields known as Polo Macau, located in the country's Potiguar Basin, to SPE 3R Petroleum for $191.1 million, the company said on Friday.Petrobras, or Petróleo Brasileiro SA…

Anadarko Shareholders Go for Cash in Oxy Buyout

Aug 08, 2019

Shareholders of Anadarko Petroleum Corp on Thursday voted overwhelmingly to sell the company for $38 billion to rival Occidental Petroleum Corp, ending a short-lived contest that pitted two of the most storied names in the oil industry against one another…

BHP Sanctions Ruby Project

Aug 08, 2019

BHP Group said on Thursday it has approved $283 million in funding to develop the Ruby Project offshore in Trinidad and Tobago.Total investment in the project, in which operator BHP holds a 68.5% stake, is about $500 million, the company said…

Exxon Looks to Spur Norwegian Asset Sales

Aug 08, 2019

U.S. oil major Exxon Mobil has hired investment bank Jefferies to sell the stakes it holds in oil and gas fields off the Norwegian coast, which could fetch up to $4 billion, banking sources said.Exxon said in June that it was looking to test market interest for its Norwegian upstream portfolio…

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