Brazil's state-controlled oil company Petrobras has made an oil discovery in deep waters offshore Brazil.Petrobras said Thursday it had discovered the presence of oil in the pioneer well of the Uirapuru block, located in the Santos Basin pre-salt…
OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the coronavirus pandemic…
The world has been transformed in the past month since the Covid-19 pandemic took hold. The dramatic impact of COVID-19 on global oil demand and has been compounded by Saudi Arabia and Russia failing to agree production cuts to stabilize oil prices…
Tullow Oil's lenders have approved the size of its reserves-based lending facility at $1.9 billion, giving the group $700 million of undrawn loans and cash at the start of the second quarter, it said on Friday.The company also said it was cutting its 2020 capital expenditure to $300 million…
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47%…
Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020.The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…
Australian offshore oil and gas safety regulator NOPSEMA has approved Woodside's offshore project proposal (OPP) from for the development of the Scarborough gas fields off northern Western Australia.The OPP is the primary Commonwealth environmental…
Nigeria’s Department of Petroleum Resources ordered oil and gas companies on Thursday to reduce their workforce and practice social distancing, tightening measures to stem the spread of the coronavirus.'All operators and their contractors are…
Brazil's Petrobras will double its oil output cuts to 200,000 barrels per day, or about 6% of total production, and shorten work hours as the state-controlled company responds to what its chief executive has called the 'worst oil industry crisis in 100 years…
Several workers on a BP Plc oil platform in the U.S. Gulf of Mexico have tested positive for coronavirus, the company said on Wednesday, a day after a worker at BP's operations in Alaska also tested positive.The cases are the first recorded among oil workers in the Gulf of Mexico and Alaska…
Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development 'within a month or two.' The wait is now set to be prolonged 'indefinitely.'Namely…
BP on Wednesday cut its 2020 spending plans by 25% and will reduce output from its U.S. shale oil and gas business in the face of the collapse in oil prices triggered by the coronavirus outbreak.BP and other big oil and gas companies are having…
China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in March applications from its companies to waive import tariffs on U…
Norway's oil production remains profitable despite the recent plunge in prices and it does not plan to shut output, the country's Minister of Petroleum and Energy said on Tuesday.The price of North Sea Brent crude fell to its lowest level in…
Private equity-backed gas producer Neptune Energy plans to cut its budget for development projects by around $300 million this year and will not pay a cash dividend to its owners Carlyle and CVC Capital Partners, it said on Tuesday.Following the collapse in oil prices…