Three years after Tower Resources and its partners relinquished their assets in Namibia, the company has returned after signing a new Petroleum Agreement it previously promised shareholders and which gives it an 80 percent operated interest…
Russia's largest oil firm, Rosneft, snubbed a meeting chaired by Energy Minister Alexander Novak on Thursday aimed at consulting domestic energy companies as leading global producers signal a possible cut in crude output.A return to oil production…
The fast-track 3D seismic data from CGG’s recent Mozambique multi-client survey in the outer Zambezi Delta Basin is now available for license, the geoscience company announced during Africa Oil Week.The data covers a 15,400 km2 area over blocks Z5-C and Z5-D and surrounding open acreage…
Norway has been forced to close the Sture Oil Terminal near Bergen and has started closing down the nearby Kollsness gas-and-condensate terminal — a lifeline of heating gas to Europe — after an early morning collision between a $440-million frigate and an oil tanker…
BHP and Equinor secured exploration blocks of the eastern Canadian province of Newfoundland and Labrador in a bid offering Wednesday that drew record high net bidding over C$1.3 billion.BHP will operate two exploration parcels in the offshore Orphan Basin…
Ghana has approved state-owned company GOIL as minority local partner for Exxon Mobil's deepwater offshore oilfield, Energy Minister Peter Amewu said on Wednesday.The West African nation is receiving 'huge interest' from international and local…
Russian oil producer Lukoil has signed a farm-out agreement with Italy's Eni on blocks 10, 12 and 14 in the Mexico's shallow waters.Lukoil will assign 40 percent in block 12 to Eni and retain the remaining 60 percent stake as operator of the project…
North Sea drilling activity this year could surpass 2017 levels while seeding a brighter 2019, as a range of indicators point to recovery after four years of rig glut and “cannibalization”.Boldest among bellwethers is oil company spending. After campaigning since 2014 for lower supplier costs…
Russia's largest oil producer Rosneft almost tripled third-quarter net profit to 142 billion roubles ($2.15 billion), citing higher crude output and prices, despite taking a heavy hit on downstream operations.The company took a 133 billion rouble ($2 billion) impairment in refining and distribution…
Brazil's Petroleo Brasileiro SA on Tuesday reported a surge in third-quarter net profit that still lagged forecasts as oil prices rose but spending at the state-owned company jumped.Petrobras made a net profit of 6.644 billion reais ($1.78 billion)…
Oil production in Brazil fell 5.9 percent in annual terms to an average of 2.486 million barrels per day, the nation's ANP oil regulator said on Monday.In a statement, the ANP said natural gas production fell 0.9 percent year-over-year to an average of 113 million cubic meters per day…
Abu Dhabi state-owned oil producer ADNOC plans to increase oil production capacity to 5 million barrels per day by 2030, the emirate's crown prince said in a tweet.Abu Dhabi's 'Supreme Petroleum Council approved AED 486 billion ($132.33 billion) in capex to support ADNOC's 5-year growth plans…
Rowan Companies plc announced Monday that its R-Class ultra-deepwater drillship Rowan Renaissance has been awarded a contract in Mexico by Total with a firm term of one well with an estimated duration of 60 days. The agreement includes three…
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies' operating costs and capex needs, says Fitch Ratings in a new report.'This may negatively affect their credit quality unless they manage to pass these costs to customers…
Changes to the petroleum resource rent tax (PRRT) announced today by the Commonwealth must be assessed carefully by Australia’s oil and gas industry, said the Australian Petroleum Production & Exploration Association (APPEA).“Attracting investment…