Oil prices jumped 2% on Friday after three days of losses, driven higher as a storm formed in the Gulf of Mexico, but were on track for a weekly fall as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress a nuclear deal…
Israel's energy ministry has instructed Chevron to restart operations at the offshore Tamar natural gas platform, nine days after it was shut due to unrest in the region, the company said.Production at the Tamar platform, located some 25 kilometers (15…
As Iran gears up to resume oil exports once the United States lifts trade sanctions, former key clients in Japan, South Korea and Taiwan say they'll wait for the U.S. green light before investigating terms under which they might buy Iran's oil again…
Indian Oil Corp, the country's top refiner, said on Thursday it would resume purchases of Iranian oil if Washington lifts sanctions against Tehran over its disputed nuclear program.The European Union official leading talks to revive Iran's nuclear…
Oil and gas giant Shell has struck a deal to sell its subsidiary Shell Philippines Exploration B.V. (SPEX) to Udenna Corp's subsidiary Malampaya Energy XP.SPEX holds a 45% operating interest in Service Contract 38 (SC38), which includes the producing Malampaya gas field…
Norway's oil and gas production exceeded official expectations in April, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Thursday.Crude oil output declined 2.7% from March to 1.726 million barrels per day (bpd) in April…
Through a joint venture firm with Shapoorji Pallonji, Malaysian floating production vessel company Bumi Armada has struck a deal to set up and operate a floating storage regasification unit (FSRU) in Mumbai Harbour.SP Armada Clean Energy Ventures Private Limited (SPACEVPL)…
BP and Eni said on Wednesday they had entered into talks to merge their oil and gas operations in Angola to form one of Africa's largest energy companies.The two companies have signed a non-binding memorandum of understanding and are in discussions…
The number of FPSO leases set to expire in 2022 is significantly higher than the yearly average of ~3 since 2015, with the potential of 30 units becoming available by end of 2022, energy market research firm Westwood said Wednesday.Westwood…
Investors should not fund new oil, gas and coal supply projects if the world wants to reach net-zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, in the top global watchdog's starkest warning yet to curb fossil fuels…
Iran has signed a $1.78 billion contract with Petropars Group to develop the country's Farzad B gas field, Oil Ministry website SHANA said on Monday, after the failure of talks with Indian companies to develop the offshore site.Under the deal…
Oil and gas company Spirit Energy has received consent for the extended use of the facilities on the Vale offshore field in Norway.The Vale gas field is located in the North Sea, 16 kilometers north of the Heimdal field. The field is developed…
Venezuela's Socialist party-controlled National Assembly on Thursday ratified an 'anti-blockade' law, as President Nicolas Maduro seeks to attract private investment to boost the OPEC nation's struggling economy despite U.S. sanctions.The law…
The new executive board of Brazil's Petrobras signaled on Thursday that it would largely follow plans set out by the previous administration, statements likely to ease investor concerns about the firm's tumultuous start to 2021.Chief Financial…
Japan's biggest oil and gas explorer Inpex Corp raised its net profit forecast for 2021 by 40% on Thursday thanks to higher than expected oil prices but left its capital expenditure plans unchanged so it can repay more debt.Inpex is now forecasting a net profit of 140 billion yen ($1…