Mexico threw troubled state oil company Pemex a lifeline in 2019 to stop $80 billion in bonds held by investors worldwide being labeled junk by credit rating agencies. Now, investors worry that the state itself is a risk for Pemex.Mexico's creditworthiness came under increasing scrutiny in 2019…
Exxon Mobil Corp expects a gain of as much as $3.6 billion from the sale of its Norwegian oil and gas production assets to significantly lift results for the fourth quarter, according to a regulatory filing on Friday.The gain from the sale of the assets to Var Energi AS…
Anchor-handling tug supply (AHTS) vessel ENA Shogun will commence a one-year project (+options to proceed further) with a Bruneian oil company, primarily supporting semi-submersible rigs in their fleet.VOS Singapore said it has secured a third…
Oil and gas services firm Sapura Energy said it has been awarded a contract extension by Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited, for the provision of a semi-submersible tender assist drilling rig, Sapura Esperanza.The contract…
Danish wind turbines manufacturer Vestas Wind Systems secured a 50 MW order with Cong ty Co Phan Dau Tu Dien Gio Hoa Binh 1 (Hoa Binh 1 Company), a company owned by Phuong Anh Group. The order marks Vestas' third intertidal project in the country with three different customers announced this month…
Norway’s bevy of oilfield supplier had a terrific day on the stock market Thursday, the first day back from holiday riding a buoyant oil price and news Chinese and Norwegian orders for oilfield items was on-again.Drilling contractor Seadrill led the pack…
US based oil and gas company Occidental Petroleum announced on Thursday that former Schlumberger Chairman and Chief Executive Officer Andrew Gould has been elected to its Board of Directors effective March 1, 2020.Gould has more than 40 years of experience in the oil and gas industry…
Following i3 Energy's 2019 drilling campaign at Serenity and Liberator, the company announced Thursday it is now preparing for a mid-2020 appraisal program to delineate the fields believed to contain more than 600 million barrels P50 STOIIP…
West Africa focused exploration and production company LEKOIL announced on Thursday that it has secured funding for the appraisal drilling and initial development program activities on the Ogo field within OPL 310 offshore Nigeria.Lekoil 310 Limited…
Shares of Tullow Oil dropped by nearly a fifth on Thursday as the oil producer's update on the commercial viability of its new well offshore Guyana disappointed investors.Tullow said the Carapa well in the Kanuku offshore block contains oil…
Brazil's state-run oil company Petroleo Brasileiro said on Thursday that board member Clarissa Lins had tendered her resignation.In a securities filing, Petrobras said Lins cited 'professional reasons that prevent (her) at this time from continuing to perform such duties…
As the New Year kicks off this week, some of Africa’s oil and gas producers are looking forward to fast-tracking approved offshore exploration plans to counter falling production volumes and meet the increasing demand especially for natural…
Offsore services firm Subsea 7 on Thursday announced changes to its executive management team, including the appointment of a new Chief Executive Officer and three Executive Vice Presidents, effective from January 1, 2020.John Evans is now in place as Chief Executive Officer…
Australia-listed Global Energy Ventures (GEV) has extended a letter of intent (LOI) with Yantai CIMC Raffles Offshore to build the CNG Optimum 200 ships.The extension is for six months through to 30 June 2020. The LOI is based on a firm order…
Finnish state-owned energy company Fortum and Credit Suisse Energy Infrastructure Partners (CSEIP) have today signed an agreement whereby funds advised by CSEIP will acquire an 80% stake in Fortum’s Nordic wind portfolio.Fortum will retain a 20% minority ownership in this wind power portfolio…