Oil rose towards $68 a barrel to its highest in over three months on Thursday, buoyed by a report showing lower U.S. crude inventories, hopes of an end to the China-U.S. trade dispute and OPEC-led efforts to constrain supply.The American Petroleum Institute…
Royal Dutch Shell won the rights to market Guyana's first cargoes of crude oil, the government said on Tuesday, just days after oil production began and launched the impoverished South American country into the ranks of world suppliers.An ExxonMobil-led consortium…
ExxonMobil made a deepwater oil discovery at the Mako-1 well offshore Guyana, the US supermajor announced on Monday, just days after reporting first oil from the nearby Liza field on Friday.The 15th discovery on the Stabroek Block, the new find…
Australian oil and gas exploration and production company Beach Energy Limited has signed an agreement with OMV GSB Oil Exploration to acquire a 30% participating interest in exploration permit (EP) PEP50119 in the Great South Basin, offshore New Zealand…
It’s not your typical marginal field — centered on a concrete gravity-based structure (GBS) that once boasted production records — but Draugen in the Norwegian Sea had become “immaterial” to Shell. When it first delivered oil in 1993, Norwegians looked forward to the spoils in 1…
In Africa, as the count of offshore oil and gas blocks that are getting depleted continues to rise, some producing countries are opting to invest in seismic data to enable identification and demarcation of new blocks while at the same deploying more high end technology…
A seismic shift in the dialogue around big oil and climate has occurred in the past 12 months. It’s a change in how big oil is orientating itself around what many call the energy transition. Climate goals - governmental, international and industry…
Large oil companies Exxon Mobil, Hess Corp, CNOOC, BP, Chevron, Total, and Eni are expected to present bids to buy the first three cargoes of Liza crude offered by Guyana's government, the South American country's director of energy said on Monday…
Energy company Total announced Monday it has acquired operating interests in two new offshore licenses with plans to develop a new production hub in the Kwanza Basin, offshore Angola.The French supermajor has signed a sale and purchase agreement…
An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions.Dutch group Follow This is targeting U.S. giants ExxonMobil…
Norway's Equinor plans to export oil from its upcoming Johan Castberg field directly to the market, ditching the option of building an onshore reloading terminal, it said on Friday.'Johan Castberg partners ... have studied a possible development…
It’s been quite a month for Equinor — new stakes in European wind; new Gulf of Mexico deepwater acreage; new frame contracts for major suppliers plus an endorsement from the International Energy Agency for its energy mix.Not bad — oh, and an…
US-based Talos Energy announced it has spent $640 million to acquire a portfolio of producing assets, exploration prospects and acreage in the US Gulf of Mexico.The exploration and production company announced on Tuesday that it has signed definitive…
Engineering firm Wood announced on Wednesday that it has been awarded a contract by Norwegian energy group Equinor to deliver modifications to a pair of offshore platforms in the Norwegian North Sea that will be connected to electric power from floating wind turbines…
Brazilian state-run oil firm Petrobras is considering putting additional stakes in significant offshore oilfields up for sale, executives said on Wednesday, as the company continues to aggressively de-leverage.In a presentation, the executives said they may sell stakes in the Marlim field…