Norway's oil output curbs, in place since June, are set to end on Dec. 31, the Ministry of Petroleum and Energy said on Tuesday.'The Norwegian regulation will expire at the end of the year,' the ministry said in a statement.Following a sharp…
U.S. crude oil production rose 286,000 barrels per day in September to 10.86 million bpd, as production increased in North Dakota and in offshore waters in the U.S. Gulf of Mexico.Oil production rose 61,000 bpd in North Dakota and 315,000 bpd in the offshore Gulf of Mexico…
Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion, its biggest-ever impairment, and slash project spending next year to its lowest level in 15 years.The oil major is reeling…
The UK North Sea energy jobs count will drop by at least 20 percent in the coming years without urgent investment in the clean technologies needed to create a net-zero offshore energy system, a report by OGTC and Offshore Renewable Energy Catapult shows…
OPEC oil output rose for a fifth month in November, a Reuters survey found, as increased Libyan production offset full adherence by other producers to cuts agreed in an OPEC-led supply deal.The 13-member Organization of the Petroleum Exporting Countries has pumped 25…
OPEC+, a group of leading oil-producing countries, will hold informal online talks on Saturday prior to meetings scheduled for next week, a source with the knowledge of the matter said.OPEC+ is debating whether to ease oil output cuts from Jan…
Norway's risk management and quality assurance firm DNV GL has suspended work on the Nord Stream 2 gas pipeline project led by Russia's Gazprom for fear of being sanctioned by the United States, it said on Thursday.Nord Stream 2 runs alongside…
Oil major BP and Ithaca Energy have started production from the Vorlich offshore oil field in the North Sea.The 30-million-barrel field has been developed through two wells with peak production expected to reach 20,000 barrels of oil equivalent gross per day…
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…