U.S. oil giant Chevron has sold its stake in the BP-operated offshore oil fields in the Caspian Sea in Azerbaijan to Hungary's MOL for $1,57 billion.More specifically, Chevron sold its non-operating interests in the Azeri-Chirag-Deepwater Gunashli…
Indonesia's upstream oil and gas regulator SKK Migas has cut its full-year production outlook for the country, its chairman Dwi Soetjipto told reporters on Thursday, after reporting a drop in oil and gas output in the first quarter.The coronavirus…
Royal Dutch Shell Plc resumed production at its 100,000-barrel-per-day Perdido deepwater hub in the U.S. Gulf of Mexico on Tuesday, ending a days-long halt caused by an onshore pipeline leak.Perdido production would return to its usual capacity by late Wednesday…
OPEC on Thursday again slashed its forecast for global oil demand this year due to the coronavirus outbreak and said the reduction may not be the last.The Organization of the Petroleum Exporting Countries now expects global demand to contract by 6…
Australia's Woodside Petroleum Ltd said on Thursday that its sales slumped more than 20% in the first quarter, as the coronavirus pandemic and draconian measures to curb the outbreak crippled fuel demand globally.Oil and gas producers have been…
Royal Dutch Shell on Thursday deepened its ambition to battle climate change, setting the oil and gas sector's broadest plan to reduce greenhouse gas emissions to net-zero by 2050.The new climate goals put the Anglo-Dutch company - at least on paper - ahead of the most progressive of its rivals…
Construction work at Equinor ASA's Peregrino oilfield off the coast of Brazil has been delayed by roughly two months, according to two sources with knowledge of the matter, as logistical difficulties surrounding the novel coronavirus take their toll on the nation's offshore oil industry…
Brazil's state-owned oil firm Petroleo Brasileiro SA said on Wednesday it had begun suspending operations of 62 shallow water platforms in the Campos, Sergipe, Potiguar and Ceara basins.Petrobras, as the company is known, had previously announced the shutdowns…
The UK-focused oil firm Hurricane Energy has said it is very pleased with the performance of its Lancaster Early Production System offshore the UK.Hurricane started up its Lancaster field west of Scotland's Shetland Islands in May 2019, via the Aoka Mizu FPSO…
International Energy Agency (IEA) Executive Director Fatih Birol said on Wednesday this month could prove the worst ever experienced by the oil industry.'In a few years' time, when we look back on 2020 we may well see that it was the worst year in the history of global oil markets…
Oil fell 5% to around $28 a barrel on Wednesday, pressured by reports suggesting persistent oversupply and collapsing demand due to global coronavirus-related lockdowns.The International Energy Agency (IEA) on Wednesday forecast a 29 million…
The Hummingbird floating production vessel linked to the 9,000 barrel per day Chestnut oilfield in the British North Sea has resumed operations after a 10-day shut-down due to the impact of coronavirus on its workforce, its operator said on Tuesday…
Austrian energy firm OMV has said it has struck oil and gas in the Taranaki Basin offshore New Zealand. OMV, as the operator of the Petroleum Exploration Permit (PEP) 60093, started drilling at the Toutoiwai-1 well in early March 2020.The oil…
The minimal impact on oil prices from a global deal for record output cuts showed that oil producers have a mountain to climb if they are to restore market balance as the coronavirus shreds demand and sends stockpiles soaring, industry watchers said…
At least one worker at Mexican state oil company Pemex's Abkatun-A processing center, in shallow waters in the Gulf of Mexico, has been diagnosed with coronavirus, two people with knowledge of the matter told Reuters.At the end of last week…