Malaysian oil and gas company Hibiscus Petroleum has confirmed it has agreed to buy Repsol’s interest in oil and gas assets in Malaysia and Vietnam for $212.5 million.The announcement comes after Repsol earlier this week announced the sale to Hibiscus…
Hurricane Energy plc, an oil and gas company that produces oil from the Lancaster field off the UK, is facing business wind-down unless it agrees a shorter charter extension for the Aoka Mizu FPSO than originally agreed.The company, which started…
Vagit Alekperov, the head of Russia's second-largest oil company Lukoil, said on Thursday that he expects the group of leading oil producers, known as OPEC+, will decide to raise output at its meeting next month.In an interview with Reuters…
Australian oil and gas company Karoon has reached the Final Investment Decision to proceed with the development of the Patola field, offshore Brazil.The Patola field is located within the 100% Karoon-owned and operated BM-S-40 Production Licence in the Santos Basin…
Japanese FPSO specialist MODEC has been awarded the contract for the delivery of an FPSO unit for Equinor's Bacalhau development.The EPCI contract award follows the final investment decision for the development of the field, announced by Equinor and its partners Tuesday…
A landmark lawsuit filed against Guyana's government, arguing that oil production fuels climate change, could bolster legal action as court cases involving energy companies and state authorities surge, according to lawyers and environmentalists…
Russian gas company Novatek has signed heads of agreement with Glencore for the long-term supply of LNG from the Arctic LNG 2 project.The agreement, signed Wednesday at Saint-Petersburg International Economic Forum, established the key commercial terms for the long-term supply of more than of 0…
Portugal's Galp Energia will sharpen its focus on renewable energy and limit fossil fuel spending to already approved developments, resulting in a 20% cut in five-year capital expenditure, the company said on Wednesday.Oil and gas company Galp is following a broader trend…
Nigeria has awarded the rights to develop marginal oilfields to 50% of the 161 firms shortlisted after they met all the conditions, the petroleum regulator said on Tuesday.Nigeria is looking to production from the fields to bolster state finances and increase local participation in the oil sector…
Thousands of new oil wells and hundreds of new oilfields will be needed to meet global demand even if it falls sharply towards the middle of the century, Oslo-based consultancy Rystad Energy said last Friday.Its analysis stands in sharp contrast…
Spanish oil company Repsol is set to sell its oil and gas exploration and production assets in Malaysia and in Block 46 CN in Vietnam to Malaysia-based Hibiscus Petroleum for an undisclosed fee.Repsol said that the sale of its upstream assets…
Malaysian oil and gas company Petronas on Tuesday confirmed the contract award to TechnipFMC for the engineering, procurement, construction, installation, and commissioning for a subsea production system, umbilical, riser, and flowline (SURF) for its Limbayong deepwater development…
Russian oil and gas firm Sakhalin Energy has started its annual preventive maintenance campaign at Piltun-Astokhskoye-B (PA-B), the largest oil and gas production platform of the Sakhalin-2 project in the Russian far east.With the topsides installed on the base structure…
The startup of Equinor's Johan Castberg oilfield in the Arctic Barents Sea will be delayed by one year until the fourth quarter of 2023 due to technical problems, denting its value, Norway's oil and gas safety watchdog said on Tuesday.The Petroleum…
Norwegian oil company OKEA has with partners Petoro and Neptune Energy decided to develop the Hasselmus offshore gas discovery in the Norwegian Sea as a tie-back to the Draugen platform.The Hasselmus gas discovery is located on the western edge of the Trøndelag platform in the Norwegian Sea…