ExxonMobil and Total are in negotiations over their massive LNG projects in Mozambique, with each seeking to extract more gas from a shared field that straddles the two developments and cut costs, three sources familiar with the matter told Reuters…
Brazil's state-controlled oil company Petroleo Brasileiro SA cut its five-year investment plan by 27% from a year ago to $55 billion to preserve cash, as the coronavirus pandemic drove down global oil demand and prices.In a filing on Thursday…
Vietnam's state oil firm PetroVietnam said on Wednesday it was on track to meet its targeted rate of production this year, despite the impact of the coronavirus pandemic and the fall in global crude oil prices.The company, formally known as Vietnam Oil and Gas Group…
Britain's Tullow Oil will commit 90% of its investments in coming years on its producing offshore oilfields in West Africa and put exploration on the back burner to reduce debt.Tullow, which was set up in the 1980s produce oil and gas in Africa…
Investments from the global oil and gas exploration and production companies (E&P) in 2021 are forecasted to reach around $380 billion, almost flat year-on-year, a report by Rystad Energy shows.Approximately 20% or $76 billion of the estimated…
London-listed oil company EnQuest has lowered its full-year production guidance, citing scheduled maintenance and an incident on an offshore platform in Malaysia as the reasons.Group production averaged 60,777 Boepd in the ten months to end October 2020…
ARMS Reliability said it has reached an agreement with floating production solutions provider MODEC to assist with optimization and rapid strategy development of asset maintenance management philosophy for MODEC’s newest floating production…
Ivory Coast-based energy firm Foxtrot International will invest $315 million to increase its gas output by a third by 2022 to meet the West African nation's growing power needs, the firm's general manager told Reuters on Monday.Ivory Coast,…
Renewable energy giant RWE has agreed to sell to Greencoat a 49% stake in the Humber Gateway wind farm offshore the UK for GBP 648 million ($863 million). 'The disposal is part of RWE’s capital rotation program and the proceeds will be used to finance further growth in the renewable energy business…
Africa-focused oil and gas company Vaalco Energy has agreed to buy Sasol's 27.8% interest in the Etame Marin block, and a 40% stake in Block DE-8, offshore Gabon. Vaalco said that the acquisition would almost double its total production and reserves…
Norwegian oil major Equinor said on Wednesday it will raise the output capacity at its Johan Sverdrup field by 30,000 barrels per day (bpd) to 500,000 bpd by the end of 2020, and plans a further increase next year.Sverdrup, the largest producing field in the North Sea…
Oil firm Equinor expects global oil demand to peak by around 2027-2028, two-free years earlier than the company previously saw, as a result of the COVID-19 pandemic, it said on Tuesday.There is no agreement on when oil demand could peak, but…
Vietnam has started pumping the first gas from the Sao Vang-Dai Nguyet field off the country's southern coast, PetroVietnam Gas Corp said on Tuesday.Gas output from the field, estimated at 1.5 billion cubic metres a year and equivalent to 15% of Vietnam's total gas output in 2019…
Brazilian oil and gas company Petrobras has launched an opportunity disclosure stage (teaser) for the sale of 50% of its stakes in the offshore oil fields - known as the Marlim Cluster - in the Campos Basin, offshore Brazil.Petrobras is looking to sell stakes in the deepwater concessions of Marlim…
The Organization of Petroleum Exporting Countries and allies started meetings on Monday that will look at further action to support the oil market in 2021, as the second wave of coronavirus weighs on demand and prices.OPEC and allies led by Russia…