Neptune Energy East Sepinggan, subsidiary of the European exploration and production company Neptune Energy has agreed to acquire interests from the Eni East Sepinggan Limited, a unit of Eni in the Kutei basin production sharing contracts (PSC) offshore Indonesia…
French offshore services giant Bourbon Corporation's existing liabilities amount to 900 million euros, or just over $1 billion, according to sources. It is is in serious danger of bankruptcy now that a group of creditors has demanded immediate payment of outstanding debt…
Anadarko Petroleum Corp, in its last earnings report before shareholders vote on its sale to Occidental Petroleum, on Friday reported a quarterly profit that topped analysts' estimates, as higher production offset lower prices for its oil.It…
The Trump administration said on Friday it has renewed Chevron Corp's license to drill for oil and gas in Venezuela despite sanctions, signaling it sees value in having the U.S. oil producer operate in a country on the verge of economic and political collapse…
Discoveries of natural gas reserves in the Mediterranean Sea around Egypt, Cyprus, Israel and Greece are shaking up Europe’s energy politics. Traditionally, Russia has been Europe’s main supplier of gas, giving it significant influence over Europe…
Equinor and partners Lundin and Spirit Energy have made a small oil discovery in production licence 167 at the Utsira High in the central part of the North Sea.The Lille Prinsen Outer Wedge appraisal well is located about 1 kilometer west of Lille Prinsen Main…
Japanese oil company INPEX announced it has acquired interests in a group of offshore blocks in the southern part of the US Gulf of Mexico.The firm said in a press release on Friday that its subsidiary INPEX US Offshore, LLC has reached an agreement…
Canadian Helicopters Offshore (CHO) has suspended passenger transfers to offshore platforms while it investigated the cause of an unexplained drop in altitude that occurred during a recent flight offshore Nova Scotia.According to the Canada-Nova Scotia Offshore Petroleum Board (CNSOPB)…
Italian energy group Eni said its adjusted net profit in the second quarter fell 27% on the year to miss expectations as lower oil and gas prices took their toll.Adjusted net profit in the quarter came in at 0.56 billion euros ($624 million) below an analyst consensus provided by the company of 0…
The European Commission said on Friday it approved French state aid for six offshore wind farms in France to help the country meet its climate and renewable energy targets.The farms, which will each have 62 to 83 wind turbines and an expected capacity of 450 to 498 megawatts…
Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade.In an early Friday securities filing, Petrobras…
Indonesia's energy ministry offered four new oil and gas blocks including Cendrawasih VIII block off Papua shore which is estimated to have 3.8 trillion cubic feet of gas and 1 billion barrels of oil resources, deputy energy minister Arcandra Tahar told reporters on Friday…
Siemens said it has signed a five-year frame agreement with BP to support the UK supermajor as one of its main electrical contractors for future onshore and offshore upstream projects globally.The deal allows BP access to Siemens technology…
As oil and gas wellbores age, owners need new and better ways to gather – and understand – intelligence about the condition of their assets.Downhole cameras can be useful for finding restrictions in a wellbore during completions, and they can…
Europe added 1.9 GW of new offshore wind was installed in the first half of 2019, up from the 1.1 GW added in the same period in 2018, according to figures released by WindEurope.The UK (931 MW), Denmark (374 MW), Belgium (370 MW) and Germany (252 MW) accounted for these installations…