The Agogo floating production, storage and offloading (FPSO) unit has reached Angola ahead off installation at Azule Energy’s offshore field.The trans-oceanic towing operation from China to Angola was conducted by PACC Offshore Services Holdings (POSH)…
OEG has secured a three-year contract with an international oil major to supply logistics equipment for its operations in North America. The agreement includes optional extensions for up to five years, OEG said.OEG will provide its cargo carrying units (CCUs)…
Norway's Okea has discovered oil in the Prince prospect in the North Sea, the Norwegian offshore directorate said on Wednesday.Preliminary estimates indicate a discovery of between 0.29 million and 2.79 million standard cubic metres of recoverable oil equivalent…
Australia conditionally approved on Wednesday a request by Woodside Energy to extend until 2070 the life of its North West Shelf gas plant, following a six-year review dogged by delays, appeals and backlash from green groups.The facility on…
Australia is losing its competitive edge in attracting investment in natural gas exploration and production, threatening the nation’s energy security, economic growth and emissions reduction targets, a new report by Wood Mackenzie has found…
Kuwait and Saudi Arabia have made a new oil discovery in the Neutral Zone, which contains jointly operated oil fields between the two countries, Saudi state news agency (SPA) reported, citing a joint announcement.It is the first discovery since…
Russia's largest producer of liquefied natural gas (LNG) Novatek last year offered technology to build a plant to produce the gas from Argentina's Vaca Muerta field, a highly-placed source familiar with the proposal said, though the talks have since broken off…
China's CNOOC Ltd has tapped commercial flows of oil and gas from a shale exploration well in the South China Sea, marking the first successfully drilled shale oil well offshore China, state media reported on Thursday.Exploration well Weiye-1…
U.S. oil company Marathon Oil has decided to cut its 2020 CAPEX further, for the second time in less than a month.The company, with assets in the U.S. onshore plays such as Bakken and Eagle Ford, and in Equatorial Guinea offshore space, one Wednesday revised its 2020 capital budget to $1…
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…
ExxonMobil on Tuesday called for tighter regulation of the greenhouse gas methane and offered up its own in-house rules as a model for companies and lawmakers worldwide.The largest U.S. oil company laid out the guidelines it follows - some of…
A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report…
Equinor's third-quarter profit fell by more than expected on Thursday after a significant decline in the volume and price of natural gas sold to Europe, although the Norwegian firm reiterated its forecast for flat 2019 production.Shares in Oslo-listed Equinor were up 2…
Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.The biggest hydraulic fracking services provider…
With offshore market gaining momentum the main driver of employment is shifting from shale to offshore.According to new analysis by energy research firm Rystad Energy, increased activity in onshore shale basins such as the Permian in the US…
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