BP said on Thursday that oil output at its projects in Azerbaijan declined slightly last year to 535,000 barrels per day (bpd) or 26 million tonnes for the whole of the year. That was down from 584,000 bpd, or 29 million tonnes, in 2018. Associated…
Equinor joined other major European oil and gas companies on Thursday by including emissions from the fuel it sells to customers in its carbon reduction targets as investors step up the pressure on fossil fuel producers. By including so-called…
Offshore accommodation provider Prosafe has forecast a tougher year ahead, compared to 2019, expecting a drop in flotel rig fleet utilization and day rates falling.The company on Thursday reported a quarterly net loss of $13.3 million (compared to a loss of 35…
Oilfield services company John Wood Group, recently rebranded to Wood, has sold its industrial services business to Kaefer.London-listed Wood said the sale of the part of the business which provides integrity and fabric maintenance for assets…
A Milan court has rejected a prosecution request to hear testimony from a former legal adviser of Eni who has accused the company of spying on judges, offering a boost to the Italian oil firm as it fights bribery allegations over a Nigerian oil field…
Norway's Equinor reported a smaller-than-expected drop in fourth-quarter core operating profits on Thursday as the startup of a major new oilfield partly mitigated the impact from weak European gas markets. The Oslo-listed company's adjusted earnings before interest and tax (EBIT) fell to $3…
Offshore oil and gas production is very energy intensive, and with declining field pressure and the need for enhanced production the energy demand even increases substantially in the later lifetime of an oil and gas production facility. The…
Vestas, in the midst of its busiest period on record, said on Wednesday sales would continue to rise this year driven by healthy demand for its wind turbines. Demand for renewable power has been growing in tandem with global efforts to combat climate change…
Climate protesters forced BP to temporarily shut down its London headquarters on Wednesday, the first day in office for the oil and gas company's new CEO Bernard Looney. BP said more than 100 Greenpeace activists attempted to place 500 solar…
Europa Oil & Gas has relinquished its interest in LO 16/19 offshore block in Ireland's South Porcupine Basin, citing limited prospectivity.Europa farmed out a 70% stake in the LO 16/19 to Cairn back in 2017, retaining 30%. Cairn then funded the seismic acquisition campaign in 2018…
First oil has started flowing from the BP-operated Alligin field in the West of Shetland region, offshore UK.Alligin is a part of the Greater Schiehallion Area and has been developed as a two-well subsea tie-back into the existing Schiehallion…
BP on Tuesday boosted its dividend payout after a 26% drop in fourth-quarter profit on lower oil and gas prices which still beat forecasts.On Chief Executive's Bob Dudley last day in office, London-based BP increased its dividend by 2.4% to 10…
RockRose Energy has signed a deal to buy Speedwell Energy, a company owning a 100% stake in the Cotton gas field in the UK sector of the Southern North Sea. RockRose said Tuesday that the deal was 'for a limited initial consideration,' with…
Oilfield services giant TechnipFMC has awarded steel producer Tata Steel three separate contracts in the UK sector of the North Sea.The scope of work includes the provision of a High-Frequency Induction (HFI) line pipe for carrier application and both spool and pipe-in-pipe systems…
A handful of Norway-based arctic oil and gas explorers and their hydrocarbon finds might be the last at today’s recognized Barents Sea’s ice edge, if an expert group’s recommendation to bring offshore activity south gains political traction…
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