OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.But the group…
OPEC and it allies held talks on Thursday on record oil output curbs of about 15 million barrels per day (bpd) or more, roughly 15% of global supplies, to support prices hammered by the coronavirus crisis, sources involved in the discussions said…
OPEC, Russia and other allied producers, a grouping known as OPEC+, are considering cutting their oil output by more than 12 million barrels per day (bpd) and want other producers to contribute cuts of 5 million bpd, an OPEC+ source said on Thursday.(Reporting by OPEC team; Editing by Edmund Blair)
Royal Dutch Shell's greenhouse gas emissions declined in 2019 to their lowest in four years, according to data provided by the energy company.At the same time, burning of unused natural gas in Shell's upstream oil and gas operations, a process known as flaring…
Oil prices rose on Thursday on expectations the world's leading crude producers will at a meeting later in the day overcome obstacles that have so far prevented a deal to cut output in response to a collapse in global demand.Brent crude futures were up 2%…
Update: The article has been updated by a statement from an SBM Offshore spokespersonSBM Offshore, a floating, production, storage, and offloading (FPSO) leasing specialist, has said that a number of COVID-19 cases has been confirmed on one of its FPSOs…
Eastern Mediterranean-focused gas group Energean said on Thursday a report showed its Karish North field contained around a third more gas and oil than it had previously thought.The Karish North field, according to an expert report typically used in the industry…
Oil company Shell has extended the charter for Altera Infrastructure's FPSO Petrojarl Knarr FPSO, operating at the Knarr field offshore Norway.The FPSO owner, which recently rebranded from Teekay Offshore to Altera, said the extension with Shell…
Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus pandemic.Thursday's videoconference…
Norway approved on Wednesday Equinor's 4.8 billion Norwegian crowns ($466 million) plan to build floating offshore wind turbines that will provide electricity to North Sea oil and gas platforms, the energy ministry said.The long-planned project…
Oil and gas firm Neptune Energy has announced the load out of the 740-tonne topside module for the Nova brownfield project in the Norwegian North Sea.The module was lifted onto a barge at the Rosenberg Worley yard in Stavanger and will be transferred to the world's largest crane vessel…
Indonesia's state oil and gas company PT Pertamina has bought a cargo of Australian North West Shelf (NWS) condensate at a deep discount of $8 a barrel to dated Brent on a cost-and-freight (CFR) basis, three trade sources told Reuters on Wednesday…
China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a statement on Wednesday.CNOOC Ltd…
Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash.Payara's…
Golar LNG Ltd said on Tuesday that it received a force majeure notice from a BP Plc unit seeking to delay taking delivery of a floating liquefied natural gas facility by a year.The notice is the latest force majeure claim issued in the LNG sector…