A Delaware judge ordered oil pipeline operator Energy Transfer LP to pay rival Williams Cos $410 million for abandoning their $33 billion merger, one of the largest transactions to fall victim to sinking oil prices.In a 95-page decision on Wednesday…
Guyana's parliament on Wednesday approved local content rules for oil producers and a sovereign wealth fund to oversee the South American nation's earnings from a budding oil bonanza.International oil producers have discovered 10 billion barrels…
Exxon Mobil Corp on Thursday signaled a return to annual profit for 2021 as stronger oil and gas prices drove a gain of up to $1.9 billion in operating profits that exceeded one-time charges.The largest U.S. oil producer issued a snapshot of…
Brazilian state-run oil company Petrobras has declared four offshore concessions in the states of Alagoas and Sergipe commercially viable in presentations to the nation's oil regulator, it said in securities filing on Thursday.The company has…
Saudi Arabian Oil Company (Aramco) and Advanced Electronics Company (AEC), a SAMI company, are collaborating to promote the localization of digital businesses in Saudi Arabia.The two companies have signed a memorandum of understanding (MoU) to accelerate the Kingdom’s digital ecosystem development…
Norway's Petroleum Safety Authority (PSA) said it has given Equinor the green light to perform exploration drilling in block 34/4 in the Snorre field in the North Sea.Equinor will drill the 34/4-17 S well at Statfjord Kile using Odfjell Drilling's Deepsea Stavanger…
Cairn Oil & Gas, India’s largest private exploration and production company, said it has appointed former BP executive Martyn Smith as chief operating officer.Smith is joining Cairn with 35 years' experience in reservoir and petroleum engineering and subsurface geoscience disciplines…
Oslo-listed offshore energy investment firm Standard Drilling announced it has sold the platform supply vessel Standard Princess for $10.3 million.The Cyprus-headquartered company said Wednesday it completed the transaction after announcing a memorandum of agreement to sell the vessel in November…
Supply of the five North Sea crude oil grades underpinning the dated Brent benchmark will average about 707,000 barrels per day (bpd) in February, loading programs showed, down from 813,000 bpd planned in January.Dated Brent is based on the Brent…
A joint venture of Korea Electric Power Corporation (KEPCO), Electricité de France (EDF) and Kyushu Electric Power Japan has awarded a high-voltage direct current (HVDC) cable installation and convertors package for the ADNOC-TAQA Lightning…
Courts in four Brazilian states have suspended a 50% hike in natural gas prices planned by state-run oil company Petrobras, likely kicking off an intense legal battle between the firm, the distributors that buy its fuel and various political authorities…
Italy's Prysmian plans to invest around 200 million euros ($226 million) to build a plant in the U.S. to produce submarine power transmission cables, CEO Valerio Battista said to the media in remarks confirmed by a company spokesman.The plant…
U.S. oil and gas executives are predicting higher production and drilling activity next year as oil prices climb, but say they face sharply higher costs, according to a poll released on Wednesday by the Federal Reserve Bank of Dallas.Some 49%…
Russian President Vladimir Putin said on Wednesday the Nord Stream 2 undersea gas pipeline would help to calm a surge in European gas prices and was ready to start exports now a second stretch of the pipeline has been filled.Nord Stream 2, completed…
Oil prices held close to $80 a barrel on Wednesday as global supply outages and declining U.S. inventories offset worries that rising coronavirus cases might reduce demand.Brent crude rose to as much as $79.20 a barrel before retreating to trade 24 cents down on the day at $78…