GlobalData revealed that a total of 38 oil and gas discoveries were made globally in Q3 2019.South America and Europe led globally with the highest number of oil and gas discoveries during the third quarter (Q3) of 2019, with eight discoveries each during the quarter…
Aker BP ASA cut its full-year oil output target on Tuesday as production problems at the oil explorer's Valhall field in the North Sea offset a boost from the early opening of its Johan Sverdrup field in Norway.The company, jointly controlled…
Brazilian state-run oil firm Petroleo Brasileiro SA posted a significant production boost in the third quarter, as heavy investments in its deepwater, pre-salt zone showed signs of paying off.Investors and analysts have been watching the firm's production figures closely in recent quarters…
Royal Dutch Shell is aiming to start operating in its concession areas in Egypt in the second half of 2020, a senior executive said.Shell won three oil and two gas concessions in Egypt in February.Eni, BP and ExxonMobil also won some of a total…
Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area…
PGNiG announced it has made a discovery in the Shrek prospect in the Norwegian Sea, about 210 kilometers northwest of Brønnøysund.Based to preliminary estimates, recoverable resources range between 19 million and 38 million barrels of oil equivalent (boe)…
Israel-focused Energean Oil & Gas Plc on Monday agreed to sell Edison E&P North Sea assets to Neptune Energy Group for up to $280 million, as part of an ongoing plan to sell non-core assets.Energean, which is focused in the Mediterranean, will…
Norway's Aker BP fell short of its third-quarter oil and gas output target and will take an impairment charge of $80 million, it said on Monday, sending its shares down more than 4%.Daily output fell to 146,100 barrels of oil equivalents per day (boepd) in the July-September quarter period from 150…
Equinor and the Snorre and Gullfaks partners have made a final investment decision (FID) for the Hywind Tampen offshore wind farm development and will submit updated plans for development and operation to Norwegian authorities.The oil and gas…
Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants…
Fance's Total SA, the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for November 6 of the so-called Transfer of Rights area in Brazil's pre-salt region.The company's chief executive officer…
Brazil's mines and energy minister said the positive results of Thursday's round of bidding for the country's offshore oil blocks point to successful auctions later this year of the so-called Transfer of Rights area and pre-salt oil find.Minister…
Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a 'transfer of rights' (TOR) area off the country's southeastern coast.The government expects to raise 106 billion reais ($25…
New currency controls enforced by the Bank of Central African States (BEAC) could ruin the oil and gas industry in the Gulf of Guinea and 'destroy' Equatorial Guinea's economy, the country's oil minister told Reuters on Wednesday.Equatorial Guinea…
BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.Combined, the minimum…