Morgan Stanley expects Brent crude oil prices to advance to $100 a barrel in the second half of this year, with the market heading for a simultaneous 'triple deficit' of inventories, spare capacity, and investment.'The key oil products markets (gasoline…
Australian gas producer Santos Ltd booked record sales revenue for 2021, pumped up by soaring oil and gas prices, and expects to reap big gains following its $6.2 billion takeover of Oil Search amid a surging energy market.After approaching Oil Search with an offer in the middle of last year…
Oil majors TotalEnergies and Chevron Corp, partners in a major gas project in Myanmar, said on Friday they were withdrawing from the country, citing the worsening humanitarian situation following last year's coup.Shell, in its first public acknowledgment of the move…
Royal Dutch Shell and British regulators have revived talks on developing the Jackdaw gas field in the North Sea as the government struggles with soaring gas and power prices, company and industry sources said.In recent weeks, Secretary of State at the Department of Business…
Brazilian oil company Enauta has completed repairs of a production line of the FPSO Petrojarl I FPSO at the Atlanta heavy crude oil field in Brazil, following last week's preventive shutdown of production, however, the company informed on Thursday of a COVID-10 outbreak aboard the floater…
Norway's oil and gas output in December rose from the previous month, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Thursday.Crude oil output increased to 1.84 million barrels per day (bpd) in December from 1.73 million bpd in November…
The heads of state of Brazil, Guyana, and Suriname this week will take the first steps toward forging an infrastructure that would better share the neighboring South American countries' energy and natural resources.Brazil's President Jair Bolsonaro…
Baker Hughes Co on Thursday reported an adjusted quarterly profit compared with a year-ago loss, as producers took advantage of a rise in crude prices that fueled demand for oilfield service equipment.Oil prices surged more than 50% last year…
Dutch offshore installation company Heerema Marine Contractors has won a contract with McDermott to transport and install six large jackets within Package-1 of Saudi Aramco’s Marjan Increment program.The Marjan oil and gas field is located in the Arabian Gulf off the eastern coast of Saudi Arabia…
A federal appeals court on Wednesday revived a fight between BP, two contractors, and an insurance company over who should pay for thousands of personal injury claims brought by cleanup workers after the Deepwater Horizon explosion and fire in 2010…
Norway is delivering natural gas to Europe at maximum capacity, but this cannot replace any missing supplies from Russia, Norwegian Prime Minister Jonas Gahr Stoere said on Wednesday.Norwegian companies have optimized their delivery potential…
Brazilian oil company Enauta has extended the charter of the Petrojarl I FPSO, used as an early production system at its Atlanta field, in the Santos Basin, offshore Brazil.Enauta signed contracts with Altera to extend the charter and Operation and Maintenance (O&M) of FPSO Petrojarl I…
Germany signaled on Tuesday that it could halt the Nord Stream 2 pipeline from Russia if Moscow invades Ukraine, and Western nations rallied behind Kyiv over a Russian troop buildup that has stoked fears of war.Stepping up diplomacy after talks with Russia ended in stalemate last week…
Oil's rally may extend further in the next few months due to recovering demand and limited capacity in OPEC+ to add supply and prices could break $100 a barrel, OPEC officials have told Reuters.Oil last traded at $100 a barrel in 2014, after averaging $110 a barrel over the previous two years…