Crude Oil News

 

Nigerian Oil Company Lekoil Loses Board Fight with Metallon

Jan 08, 2021

Shareholders of London-listed Nigerian oil company Lekoil voted on Friday to approve an investor's bid to add three members to the company's board, in the culmination of a bitter dispute between its founder and its biggest shareholder.The dispute…

Oil Industry Slams Norway's Plan to Triple Carbon Tax

Jan 08, 2021

Norway plans to more than triple its national tax on carbon dioxide (CO2) emissions by 2030 to help it reach its climate goals, the government said on Friday, drawing criticism from the country's powerful oil lobby.The cost of emissions will be raised to 2…

ADES CFO to Step Down

Jan 08, 2021

Oil and gas drilling contractor ADES has informed that its CFO Khaled Hassan has decided to resign to pursue other interests.'Mr. Hassan has decided to step down from his position to pursue a greater role outside of the Group. To ensure an orderly transition…

Report: BP Relaunches Sale of UK North Sea Fields

Jan 08, 2021

BP has relaunched the sale of stakes in a number of North Sea oilfields it agreed to sell to Premier Oil before the beleaguered company was taken over last year, industry sources said on Thursday.BP originally agreed to sell its interest in…

Total to Keep Investing in Renewables in 2021, says CEO

Jan 08, 2021

Total will be as active in adding renewable energy assets in 2021 as it was last year, Chief Executive Patrick Pouyanne told an Oddo BHF conference on Friday. Total is trying to reduce its dependence on oil and shift towards electricity and renewable energy…

Constellation Nets Long-Term Drillship Deal with Petrobras

Jan 08, 2021

Brazilian oil and gas drilling company Constellation has won a long-term contract for its ultra-deepwater drillship Brava Star with the Brazilian oil firm Petrobras.Constellation said this week that the contract for the 2015-built Brava Star…

Lekoil Fights Top Shareholder over Board

Jan 08, 2021

London-listed Nigerian oil company Lekoil's shareholders will vote on Friday on an investor's bid to add three members to the company's board, in the culmination of a bitter dispute between its founder and its biggest shareholder.The dispute even drew in Nigeria's Ministry of Petroleum…

Malaysia: Petronas Takes over Operatorship of E11 Gas Hub from Shell

Jan 08, 2021

Malaysian oil and gas company Petronas has become the operator of the E11 gas hub, located 130km offshore Bintulu, Sarawak, Malaysia, effective 1 January 2021.  The E11 hub which has been producing since 1982 under the MLNG Production Sharing…

Petrobras Says 2020 Oil Output Averaged Record 2.28 Million BPD

Jan 07, 2021

Brazil's state-run oil company Petrolero Brasileiro SA produced a record 2.28 million barrels of oil per day on average in 2020, according to a securities filing on Thursday.The combined oil and natural gas output of Petrobras, as the company is known…

TechnipFMC Resumes Plan to Split in Two

Jan 07, 2021

Franco-American oil services firm TechnipFMC Plc said on Thursday it resumed its plan to split itself into two, after delaying the move in March.The group, created nearly four years ago via the merger of Technip and FMC, had been planning to…

Suncor to Record Impairment Charge on White Rose Assets

Jan 07, 2021

Canadian energy company Suncor will record in the fourth quarter of 2020 a non-cash after-tax impairment charge of approximately $425 million on its share of the White Rose asset and West White Rose Project in the Jeanne d’Arc basin off Newfoundland and Labrador…

Ithaca Energy Taps Crawford as CFO

Jan 07, 2021

Independent oil and gas company Ithaca Energy on Thursday announced the appointment of David Crawford as chief financial officer, taking over the role from predecessor Graham Forbes who will be leaving Ithaca, effective February1.Crawford is…

Apache Corp to Create Holding Company Structure

Jan 07, 2021

Apache Corp said it plans to create a new holding company called APA Corp, that would replace the oil and gas producer as the public company trading on the Nasdaq stock exchange.Apache will become a unit of APA and continue to hold assets in the United States…

Saudi Cuts Drive Oil to 11-month High

Jan 07, 2021

Oil prices were steady on Thursday after hitting fresh 11-month highs on a fall in U.S. stockpiles and in the wake of a pledge by Saudi Arabia to cut output by more than expected.Brent crude was up 5 cents to $54.35 a barrel at 1231 GMT after touching $54…

Scorpio Bulkers to Change Name to Eneti

Jan 06, 2021

Scorpio Bulkers announced Wednesday that it intends to change its name to Eneti Inc. as the company plans its pivot from dry bulk shipping to offshore wind farm construction and services.The name change, which remains subject to approval at a February 3 shareholders meeting…

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