Oil futures jumped 10% on Monday after an attack on Saudi Arabian crude oil processing facilities over the weekend sliced the kingdom's production in half and threatened to hamper shipments from the world's largest crude exporter.Prices initially…
Tullow Oil plans to drill three or more oil exploration wells in Guyana next year, Chief Executive Officer Paul McDade said on Monday after the firm's second oil discovery in the country.Following the Jethro-1 discovery last month, London-listed…
ExxonMobil has made an oil discovery in the the closely watched Stabroek block offshore Guyana, the supermajor announced on Monday.The discovery in the Tripletail-1 well in the Turbot area adds to the previously announced estimated recoverable…
Norwegian engineering and construction services company Kvaerner said it will ramp up its focus on floating production and renewables projects in an effort to achieve 40% growth within two years.Going forward, Kvaerner will expand operations…
Tullow Oil announced it has made a second oil discovery on the Orinduik block, opening a new Upper Tertiary oil play in the Guyana offshore basin.The Joe-1 exploration well was drilled by the Stena Forth drillship to a total depth of 2,175 meters in 780 meters water depth…
VAALCO Energy said it has spud the Etame 9P appraisal wellbore at the Etame field to kick off its 2019/2020 drilling campaign offshore Gabon.Drilling of the Etame 9P appraisal wellbore is expected to take approximately four weeks, after which…
Ukraine's new government on Thursday stripped U.S.-based Trident Acquisitions of the right to explore and develop oil and gas reserves in the Black Sea shelf, prompting the company to say Ukraine had lost out on $1 billion in new investment…
Engineering consultancy Crondall Energy said it has been awarded a contract by Pharis Energy to deliver a concept select study for the operator’s heavy oil Pilot field development in the Central North Sea.According to a statement issued today by Crondall Energy…
Norwegian authorities have given consent to operator Equinor to extend production from the Tordis field in the North Sea.Equinor, which had applied for consent to extend the operating life of the facilities on the Tordis field, is now approved to use of the facilities through 2036…
Privately held oil and gas exploration and production company New Age (African Global Energy) Limited has announced the completion of the US$800 million sale of its 25% non-operated interest in the offshore Marine XII permit in Congo (Brazzaville) to LUKOIL Upstream Congo SAU…
Private-equity backed oil and gas firm Neptune Energy plans to be ready for an initial public offering by April next year, Chief Financial Officer Armand Lumens said on Thursday.Neptune, backed by the Carlyle Group and CVC Capital partners and headed by former Centrica boss Sam Laidlaw…
The U.S. House of Representatives on Wednesday passed a bill to ban offshore oil and gas drilling off Florida, the first of three measures it is considering, which would also ban drilling off the Pacific coast and in Alaska's Arctic National Wildlife Reserve…
Oilfield services company Weatherford announced it has secured an $87 million contract for fishing and intervention services with Brazilian-based multinational corporation Petróleo Brasileiro S.A., more commonly known as Petrobras.Weatherford…
Mexico's government will give state-owned Pemex $5 billion so the world's most indebted oil company can pay off bonds, part of a plan to shore up accounts that also includes refinancing other bonds, the company said on Wednesday.Pemex, burdened by some $104 billion of debt…
Spain's Repsol believes it can start producing oil at the Norwegian Yme oilfield in the first half of next year, a partner in the field said on Wednesday.'Repsol, the operator of the field, is confident that Yme could start production in the first half of 2020…