Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday.Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake…
Norwegian oil and gas company Aker BP is switching emphasis from M&A towards exploration, taking a potentially riskier path to increase its resources after years when it has relied on acquisitions to add the bulk of its new barrels.The company…
Spanish oil and gas firm Repsol beat forecasts with a 7.5 percent increase in fourth-quarter adjusted net profit on Thursday, boosted by higher oil and gas prices and increased production, and said its strategic plan was on track.Repsol started new projects in Algeria…
Italian oil services group Saipem said on Thursday it expected higher sales this year after beating 2018 forecasts and said it was looking for market opportunities.The group, jointly controlled by oil major Eni and state lender Cassa Depositi e Prestiti…
Oil giant ExxonMobil, together with partner Qatar Petroleum (QP), made giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus and estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas…
BP Chief Executive Bob Dudley described the United States' high-pace shale oil sector as a 'market without a brain' that, unlike Saudi Arabia and Russia, only responds to market signals.The U.S. shale oil sector, which has helped the country to become the world's biggest oil producer last year…
Offshore energy support vessel operator Seacat Services has extended the vessel inspection agreement with Specialist Marine Consultants (SMC), the health and safety advisory to the marine and energy industry.The agreement marks the second year…
London-based offshore drilling contractor Noble Corporation has bought a second newbuild Gusto MSC CJ46 design jack-up rig from the Singapore shipyard PaxOcean Group for $83.75 million. Like the Noble Johnny Whitstine, which the UK offshore…
Australia's Woodside Petroleum Ltd surprised investors with a fat dividend on Thursday after reporting a 36-percent percent rise in annual profit, underpinned by stronger oil prices.The higher-than-expected payout came after shareholders stumped up $2…
In its 2019 “Annual Energy Outlook” the US Energy Information Administration (EIA) projects that electric generation from renewables (wind, solar, hydro) will go from 500 billion KWh in 2018 to 1500 billion KWh in 2050, just 30 years from now…
API reports increase in U.S. crude stocks; Venezuela sanctions yet to spark rally but still supportive.Oil fell below $62 a barrel on Wednesday after a report showed a rise in U.S. crude inventories, countering expectations of a tightening market in 2019 because of OPEC-led supply cuts and U…
Oil firm DNO is looking to buy more assets after its recent takeover of London-listed Faroe Petroleum to further expand its North Sea presence.Oslo-listed DNO, which produces most of its oil in the Kurdistan region of Iraq, clinched a hostile takeover bid for London-based Faroe Petroleum…
Ophir Energy Plc said on Wednesday it has agreed to be bought out by Indonesian oil and gas group Medco for a sweetened bid of 390.6 million pounds ($511.02 million) in cash.The offer of 55 pence per Ophir share represents a 65.7 percent premium to Ophir's closing price on Dec…
In less than 12 months Eni CEO Claudio Descalzi has turned the Middle East from a sideshow to a strategic hub for the Italian energy major. And the shift is not over.Since last March the 63-year-old has clinched nine deals in the United Arab Emirates…
U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia's Eurasia Drilling Company (EDC) Russia's Federal Anti-monopoly Service (FAS) said on Monday.Schlumberger, which has its own business in Russia, said last…
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