U.S. oil and gas company Murphy Oil has slashed capital spending plans by $500 million citing 'current market conditions and recent commodity price volatility.' The company plans to preserve dividend payments.Murphy’s revised 2020 budget is approximately $950 million…
New Jersey Governor Phil Murphy has unveiled the offshore wind solicitation schedule to meet the state’s 7,500 MW offshore wind goal by 2035 and called upon the New Jersey Board of Public Utilities to take all necessary actions to implement the schedule…
Offshore installation contractor Subsea 7 on Tuesday said it had won a contract from Murphy Oil for the provision of the subsea installation services related to the Samurai, Khaleesi, and Mormont developments in the U.S. Gulf of Mexico.The contract…
Thai oil company PTTEP reported a 40 percent rise in the full-year net profit, boosted by increased sales volumes from acquired assets and an increased stake in the Bongkot offshore field.Its 2019 net profit was 1,569 million, increasing by 40% from 2018…
New Jersey Governor Phil Murphy signed into legislation Bill, expanding the definition of a 'qualified offshore wind project'. This definition now includes an 'open access offshore wind transmission facility'.With the new legislation in place…
As New Jersey steps up efforts to eliminate fossil fuels over the next three decades, the state is more than doubling its target for offshore-wind energy production under an executive order signed by Gov. Phil Murphy.The order would increase the goal to 7…
Total said it has signed an agreement to sell wholly owned subsidiary Total E&P Deep Offshore Borneo BV — which holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei — to Shell for $300 million.“This transaction…
Ten companies on Thursday agreed to pay more than $2 billion for the exploration and production rights in 12 offshore oil blocks in Brazil, in what could be a promising sign for even bigger upcoming oil auctions.The most heavily sought after…
BP PLC, Chevron Corp and Royal Dutch Shell PLC are among firms that will compete for exploration and production rights off the Brazilian coast on Thursday, in the first of three oil bidding rounds scheduled for coming weeks.Combined, the minimum…
Thirteen companies have been approved by Brazilian authorities to participate in a November oil bidding round for offshore exploration and production rights.The companies were cleared to participate in the so-called 6th pre-salt bidding round…
Chevron has sanctioned a project to increase recovery in the St. Malo field, as the US based supermajor looks to maximize existing resources in the Gulf of Mexico.The waterflood project is Chevron’s first in the deepwater Wilcox trend and is…
Brazil auctioned off the exploration rights to 33 minor onshore and offshore oil and gas blocks on Tuesday, in what authorities framed as a bid to boost the industry outside of the nation's core, offshore pre-salt play.At an event in downtown Rio de Janeiro…
Finance — or at least project economics based on long-term commodity prices — appear to be factors limiting a surge in investments in floating liquefied natural gas (FLNG) a new study by U.S.-based numbers cruncher, World Energy Reports, revealed Monday…
New Jersey's Governor Phil Murphy has signed an executive order to establish a Council for the Wind Innovation and New Development (WIND) Institute.The institute will develop and implement a plan to create a regional hub for New Jersey’s offshore…
Murphy Oil has sanctioned the King’s Quay project in the US Gulf of Mexico, the US independent revealed in its second quarter earnings report.Anchored by the deepwater Khaleesi/Mormont and Samurai developments, the King’s Quay floating production…