Russia's Gazprom Neft, the oil arm of gas giant Gazprom, is in talks with gas producer Novatek about possible cooperation at its offshore deposits, Gazprom Neft CEO Alexander Dyukov said on Friday.'We're holding (talks with Novatek) concerning deposits that belong to us…
Based on geological studies that point to great potential for ultra-deepwater pre-salt oil reserves beyond its exclusive economic zone (EEZ), the Brazilian government is considering offering for the first-time exploratory blocks beyond the limits…
Equinor has drilled a dry well in the Gjoekaasen Deep prospect in the southeastern part of the Barents Sea, the Norwegian Petroleum Directorate said on Tuesday.Wildcat well 7132/2-2 was drilled by the Seadrill drilling rig West Hercules about 175 kilometers north of Vardø…
U.S. President Donald Trump and the Saudi government have closely aligned views on most issues but they disagree significantly on the desirable level for oil prices, which could become a source of volatility in 2019/2020.In keeping with his iconoclastic approach to governing…
Saudi Aramco was by far the world's biggest oil producer ahead of regional peers like Abu Dhabi National Oil Company (ADNOC) and listed oil majors Royal Dutch Shell, Total and BP, ratings agency Fitch said on Monday.'Saudi Aramco is the largest oil producer globally by volume…
Offshore engineering and services company Subsea 7 revealed it has been awarded two contracts from Saudi Aramco for conventional projects in shallow water offshore Saudi Arabia.The engineering, procurement, construction and installation (EPCI)…
U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity.'Very important that OPEC increase the flow of Oil. World Markets are fragile…
Angola's national oil company Sonangol has recently taken possession of the first of its two drillships built by a Korean shipyard firm, signaling the start of the implementation of its regeneration program that include investment in deep and ultra deep water drilling and offshore marginal areas…
Lundin Petroleum on Wednesday announced its plans to develop the Solveig oilfield, formerly known as Luno II, offshore Norway, with startup planned in 2021.The Solveig oil discovery in PL359, is located in the Norwegian sector of the North Sea…
Oil rose nearly 2 percent on Tuesday as attention centered on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining U.S. inventories.Despite concerns about weaker demand due to an economic slowdown…
Brazil's government will announce 'within days' a deal with state-run oil company Petrobras to settle a multi-billion-dollar contract dispute and clear the way to auction billions of barrels of oil off of the Brazilian coast, a minister said on Monday…
Oil prices were little changed on Monday as investors shrugged off fears of a global economic slowdown and focused on the prospect of tighter supply and lower U.S. crude inventories ahead.Brent crude oil futures climbed 30 cents to $67.33 a barrel by 11:56 a…
U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.Those two companies produce…
The UK Oil & Gas Authority (OGA) has made significant headway on projects aiming to support the energy transition alongside the core role of maximizing economic recovery of UK oil and gas, and it has now taken these efforts a step further.The OGA announced this week it has secured a £900…
The planned restructuring of Nigeria National Petroleum Corporation (NNPC) joint operating agreements with multinational oil companies could help not only in raising substantial financial gains to support the country's national budget but also…