As oil exploration and production goes, so goes the market for Offshore Service Vessels (OSVs) and Platform Supply Vessels (PSVs). Throughout 2025, the prices of oil- which drives exploration and production (E & P), have softened, moving down towards $60/barrel amidst economic uncertainty and a wider than anticipated opening of the taps by major oil producers. In the past year, the Baker Hughes overall count of U…
Oil producers TotalEnergies, Qatar Energy and Petronas have signed a five-year agreement with Guyana's government to explore a shallow-water block, authorities and company executives said on Tuesday.Guyana has struggled to diversify its energy industry…
Occidental Petroleum beat Wall Street expectations for third-quarter profit on Monday, as higher production helped the U.S. shale producer counter weaker oil prices.U.S. oil and gas output rose to a record in August even as benchmark Brent crude…
Oil major BP reported a smaller than expected fall in third-quarter underlying profit on Tuesday as a strong performance at all divisions led by refining helped to offset the impact of lower crude prices.However, there was no update on the closely…
Oil and gas have not only fueled economies but created rivalries, territorial disputes and wars. In the last one hundred years or so, since petroleum resources have been commercially extracted it is central to numerous armed conflicts. Some notable examples…
TotalEnergies reported a 2.4% drop in third-quarter earnings on Thursday, meeting expectations as the French oil major raised upstream production and achieved improved crude refining margins to help offset lower oil prices.Adjusted net income slipped to $4…
Dutch geological data specialist Fugro reported stronger-than-expected core earnings on Friday, but cautioned that worsening conditions in the offshore wind sector and tighter spending by energy firms could weigh on its performance in the final quarter…
Angola's national oil and gas agency, ANPG, will sign an exclusive negotiation agreement with oil major Shell to explore and develop Blocks 19, 34, 35 as well as ultra-deep water blocks, it said in a statement late on Thursday.The signing ceremony will take place on November 3…
Equinor posted a bigger than expected drop in third-quarter profit on Wednesday as oil and gas prices fell, and booked asset impairments on a weaker long-term outlook for crude prices.The Norwegian energy group's adjusted earnings before tax for July-September fell 9…
Portugal's Galp Energia reported an 11% increase in adjusted third-quarter core profit on Monday, beating analysts' estimates, driven by a jump in refining margins and robust gas trading.The energy firm reported adjusted earnings before interest…
The Norwegian Offshore Directorate (NOD) has granted Vår Energi a drilling permit for a wildcat well in the North Sea field.The permit is for wellbore 25/8-C-23 D in production license 027.Vår Energi is the operator of the license, with 90% working interest…
Norway's oil production exceeded an official forecast by 5.4% in September while gas lagged by 1.9%, the Norwegian Offshore Directorate (NOD) said on Tuesday.Norway is Europe's largest supplier of natural gas and a major producer of oil, but…
Donald Trump is putting more pressure on India to slash its Russian oil purchases. This could deprive Moscow of vital revenue, but it will mostly just push more Russian oil into an increasingly large shadow market.The U.S. president said on…
Rigs drilling beneath the deep waters of the Gulf of Mexico will drive U.S. oil industry growth this year and next as onshore production slows due to lower prices and maturing shale fields, and analysts and consultants expect the trend to continue…
Energean Italy, a subsidiary of London-based Energean, has restarted production at the Rospo Mare field in the Adriatic Sea.The Rospo Mare field, which was shut down since January 2025, has restarted production on October 12, 2025, with full…
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