Houston-based Vaalco Energy said that it is in talks to serve as operator for three Equatorial Guinea (EG) oil blocks recently awarded to Levene Hydrocarbon.Vaalco Energy Mauritius (Vaalco EG), the subsidiary of the company, is in preliminary…
Oil and gas company, ONE-Dyas, a joint venture between Oranje-Nassau Energie B.V. (ONE) and SHV Holdings that owns Dyas, has its quest for an extension of its upstream investment programme offshore Gabon approved for its offshore Kowe project…
Russia's second-largest oil producer Lukoil said on Tuesday its third-quarter net income rose 5% quarter on quarter to 190.4 billion roubles ($3 billion) helped by a lower effective income tax rate.Its sales fell 8.1% from the second quarter to 1…
The US should define the Gulf of Mexico Shallow Water Province as a distinct entity to avoid stranding more than $20 billion of its oil and gas resource, said a new research.According to a research from the Bureau of Safety and Environmental…
NOIA President Erik Milito weighs in after Congressional Democrats introduced the Stop Giving Big Oil Free Money Act, which the lawmakers say will repeal 'a loophole' in the Deepwater Royalty Relief Act of 1995 (DWRRA) that allowed oil and gas…
Australia's Woodside Petroleum on Tuesday laid out plans to triple its gas and oil reserve base as it pursues projects worth over $36 billion in Australia, Senegal and Myanmar.Success in those projects would result in its reserve base reaching 3…
Norway's oil production rose in October from the previous month, beating official forecast by 4.5%, while gas production continued to lag, the Norwegian Petroleum Directorate (NPD) said on Tuesday.Output from the giant Johan Sverdrup oilfield kicked in ahead of schedule last month…
Operators have traditionally grown their resources and reserves through acquisition, exploration and producing more from an already-discovered field. Now, digital technologies are helping operators increase reserves.Wood Mackenzie research director…
North Sea oil producer Chrysaor Norge has exercised an option to buy stakes in OKEA’s Grevling and Storskrymten discoveries offshore Norway.The Norwegean oil production company OKEA confirmed the sale of 20% of the Company's participating interest in Grevling (PL 038D) and 18…
Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.The world's transition away from fossil fuel in an effort to…
Foreign oil companies that have not joined Brazil's last two auctions of offshore 'pre-salt' fields are also unlikely to bid next year, BP Plc's Brazil president told newspaper Valor Economico in an interview published on Wednesday.Adriano Bastos argued that…
Tullow Oil cut its outlook for production and cash flow because of persistent problems in Ghana, while revealing that the quality of oil recently discovered in Guyana was heavy in nature, sending its shares down more than 20%.Commenting for…
With a goal of creating more artificial intelligence (AI) led solutions for the oil and gas sector, Abu Dhabi National Oil Company (ADNOC) has signed a deal with compatriot technology company Group 42 (G42) to create a new joint venture.The…
Lower prices and increasing competition for investment are driving many African states to make it easier and cheaper for overseas companies to keep their oil and gas output flowing.From Ghana to Gabon, governments are adjusting terms to lure…
Brazil's state-run oil firm Petrobras, which dominated this week's disappointing offshore oil auctions, has no interest in farming out its Buzios block to be operated by another firm, its head of exploration and production said on Friday.Major…