Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such as Russia in an effort to shore up the price of crude, OPEC's secretary-general said in a letter seen by Reuters on Thursday.Mohammad Barkindo said to reach the proposed cut of 1…
Canadian oil and gas producer Husky Energy Inc on Thursday cut its 2019 capital expenditure program by about 8 percent, or C$300 million, citing Alberta's mandatory curbs on output and lower oil prices.The company now expects 2019 capital expenditure of C$3…
Performance of Senegal’s offshore oil and gas market appears to be gaining momentum as the West African country moves to shed the tag of being an uncertain prospectivity to join the region’s league of oil and gas producers as more international…
U.S. crude inventory declined again last week. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates an inventory fall of 0.5 million barrels in the week ended December 14. While only a small drop, it is the third decline in a row…
The outlook for offshore oilfield service contractors is strong as more than 100 new projects are aiming for 2019 sanctions, according to Rystad Energy, a Norway-based energy research and consulting firm.An expected $210 billion will be spent on offshore oilfield services globally next year…
U.S. and Norwegian oil majors Chevron and Equinor have become the latest target of activist investors moving to force five of the biggest oil companies to commit to fixed emissions targets and align with the Paris climate agreement.The effort…
Norway's November oil and gas output was lower than originally expected due to a collision between a navy frigate and an oil tanker that triggered shutdowns of major export facilities and several offshore fields, the country's oil regulator said…
Angola’s Sonangol and British supermajor BP on Monday signed an agreement to progress to final investment decision (FID) for the development of the Platina field in the BP-operated deepwater Block 18, offshore Angola.Platina would be BP’s first…
Mexico aims to lift oil and gas production by almost 50 percent in the next six years and in January will award infrastructure and drilling contracts to develop 20 fields, state oil firm Petroleos Mexicanos said on Saturday.Octavio Romero, chief…
The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report.Shaken by a sharp drop in oil prices in recent months…
British oilfield services company Hunting Plc expects oil and gas producers to defer some projects as a recent decline in crude prices could hit their short-term budgets, it said on Monday.Oilfield service companies, including U.S.-based Schlumberger…
Russian oil producer Gazprom Neft said on Monday that it expected its 2019 investment excluding joint ventures to total 374 billion roubles ($5.62 billion).It said it expects its 2018 hydrocarbons output to stand at 92.8 million tonnes of oil equivalent in 2018…
Ouro Preto has cut its bid for two shallow water mature oilfield clusters from Brazil's state-run oil company Petroleo Brasileiro, flagging a drop in oil prices in recent months, three sources with knowledge of the matter said.Ouro Preto, a…
Global helicopter services company CHC Group announced it has been awarded the contract from OMV (Norge) AS, to provide helicopter services in support of their forthcoming drilling program at the PL 644 field in the Norwegian Sea.“We are excited…
Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to announce that more than 200 barrels of oil were recovered from the legacy vertical well 16a at its West Rustavi permit during a 10 hour flow period…