Norway's economic activity excluding the offshore oil and gas industry fell 14% as of the end of March compared with the end of February, preliminary data from Statistics Norway showed on Wednesday in a new snapshot look at how the economy is doing…
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the blended impact of COVID-19 on oil and gas activities and the oil price war, Rystad Energy said Tuesday.These wells, the Norwegian energy intelligence firm said…
China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a statement on Wednesday.CNOOC Ltd…
Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree in shale, LNG and deep water oil production and will cut planned capital spending this year by $10 billion as the coronavirus pandemic saps energy demand and oil prices…
Oil company Global Petroleum has exchanged part of its stake in offshore Namibia Block, 2011A (PEL0094), with NAMCOR, for a right to get access to pre-existing 3D seismic data over the block.'This key data, acquired by previous licensees in 2010…
Norway has been invited to and is considering attending the OPEC meeting on April 9 as an observer, and would reduce output provided there is broad support to do so, the country's oil ministry said on Monday.The ministry reiterated in an email…
Norwegian oil firm Equinor, with partners Progress Resources and Repsol, has made an oil discovery in the Monument exploration well in the US Gulf of Mexico.The Monument exploration well found approximately 200 feet (c. 60 meters) of net oil…
RWE, Europe's third-largest renewables group, has taken a final investment decision for a 342 megawatt wind project off the German coast, its green energy unit said on Friday.Contracts worth more than 500 million euros ($539 million) have been signed for all major components of the Kaskasi project…
Offshore installation and construction company Subsea 7 has said it has won a sizeable contract - meaning worth between $50 million and $150 million, for work on a wind farm offshore Germany.Subsea 7 said Friday the contract was with innogy Kaskasi for the Kaskasi offshore wind farm project…
OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the coronavirus pandemic…
The European Union has granted funds to an international consortium led by Spain's Iberdrola, to install and test a floating wind turbine in Norway.Norwegian Offshore Wind Cluster said earlier this week that the EU had granted NOK 290 million (~$27…
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47%…
Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020.The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…
Britain's largest energy supplier Centrica canceled its 2019 dividend and cut costs in anticipation of an increase in nonpayments by customers and a drop in demand due to the COVID-19 outbreak, sending its shares to record lows.The government…
Swedish utility Vattenfall will not take part in a Dutch tender for a 700 megawatt (MW) offshore wind farm in the North Sea because of the uncertainty created by the coronavirus pandemic, the state-owned firm said on Thursday.Vattenfall won…