Australian oil and gas company Santos, the operator of the Bayu-Undan field in the Timor Sea, off Timor Leste, has reached a Final Investment Decision for the US$235 million Phase 3C infill drilling program at the offshore field.The program…
Dutch marine contractor Boskalis on Monday acquired all the shares of Rever Offshore’s subsea services business.Rever, formerly known as Bibby Offshore, provides solutions in the area of subsea construction, inspection, repair, and maintenance…
Canadian oil firms Cenovus Energy and Husky Energy said Monday their previously announced strategic merger had closed, creating Canada’s third-largest crude oil and natural gas producer.'The transaction creates a resilient integrated energy…
UK-based subsea energy products company Express Engineering has sold its aerospace division for an undisclosed sum, to focus on expanding its capabilities in the offshore oil and gas market.The aerospace division has been sold to Paralloy. 'The…
Oil production in Russia declined last year for the first time since 2008 and reached its lowest level since 2011 following a global deal to cut output and sluggish demand caused by the coronavirus, statistics showed on Saturday.Russian oil and gas condensate output declined to 10…
Malaysia's Petronas said on Monday force majeure had been declared at its Miri and Cendor crude oil terminals in the final quarter of 2020.Petronas declared force majeure at its Miri crude oil terminal on Oct. 29 as a result of the MV Dayang Topaz vessel collision on Oct…
Norwegian oil company Equinor has received regulatory consent to keep using the Island Wellserver well intervention vessel in 2021.The consent, granted by the Petroleum Safety Authority Norway, is an extension of an existing consent.The consent…
Pressured by strict U.S. sanctions, Venezuela's oil exports plunged by 376,500 barrels per day (bpd) in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA, financially squeezing socialist President Nicolas Maduro…
Maersk Drilling's Maersk Inspirer jack-up rig, converted to a production platform, has been towed to the Repsol-operated Yme oil field in the North Sea, offshore Norway, OKEA, a partner in the field said Monday.'OKEA ASA...is pleased to announce…
Italian oil company Eni has extended the contract for BW Offshore's Abo Floating Production Storage Offloading (FPSO) vessel.BW Offshore, the owner of the FPSO, said Monday it had signed the extension with Eni's subsidiary Nigerian Agip Exploration…
Global crude prices slipped on Thursday and lost more than a fifth of their value in volatile trade in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and slammed fuel demand.Still, Brent and U.S. crude benchmarks have more than doubled from April's decade lows…
About half of U.S. energy company executives polled by the Federal Reserve Bank of Dallas expect their firms to increase capital spending in 2021, and another quarter of respondents see those expenditures remaining flat next year, according to a survey released on Wednesday…
Brazilian oil company Petrobras has divested its stake in offshore drilling company Sete Brasil.The company on Wednesday transferred today to companies of Sete Brasil Group, for the symbolic total amount of 7 euros, the equity interest of 15%…
Energy, Wall Street's worst-performing industry in 2020, could see its fortunes improve in the new year after its price action surfaced a technical buy signal on the charts on Wednesday.The bullish development in S&P 500 energy sector is called a 'golden cross…
Exxon Mobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth-quarter results, but the gains would be overshadowed by an up to $20 billion asset write down.The largest U.S. oil…
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