Norwegian oil firm Aker BP has started production from the first Ærfugl phase 2 well in the Norwegian Sea, which is, according to the company, three years ahead of the original plan. The Ærfugl field produces via Skarv FPSO approximately 210 km west of Sandnessjøen…
The Trump administration will not make a broad cut to the royalty rate oil and gas companies must pay on their offshore drilling operations despite a historic oil price collapse that has put the industry in crisis, a Gulf Coast lawmaker briefed on the matter told Reuters on Wednesday…
Recent turbulence in the price of light sweet crude oil futures has highlighted how little is known about the positions of traders and their impact on the formation of prices.Exchanges and regulators see the positions of all members and traders…
Woodside Petroleum's final investment decision on the $11 billion Scarborough gas project will require stable oil prices and credit ratings, the company's CEO said on Thursday.The company in March deferred a final investment decision on the…
The U.S. SEC has closed its investigation into Eni over the Italian oil major's activity in Nigeria and the Congo without recommending further action, Eni said on Wednesday.'Based on the information currently available to the SEC, it is otherwise…
Woodside Petroleum is keeping a close eye out for assets that might come up for grabs from the oil supermajors amid the oil market rout, seeing itself in a position to bid, Chief Executive Peter Coleman said on Friday.The head of Australia's top independent gas producer said…
Austrian energy group OMV posted a net loss for the first quarter due to significant inventory costs and lowered its production target and crude price forecasts in response to tumbling oil demand in the wake of the coronavirus pandemic.OMV said…
U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.Brent crude, the international benchmark…
India's Reliance Industries has cut the pay of some top oil-and-gas division employees by up to 50%, according to six sources and a letter seen by Reuters, as it battles lower profitability because of the coronavirus epidemic.Reliance, headed by India's richest man…
pX Group, the Stockton-on-Tees-based provider of energy and industrial solutions, has acquired a majority stake in Aberdeen-based NRG Well Management, a provider of well management services to the oil & gas industry.px Group said Wednesday that…
Turkish national oil company TPAO's drillship Fatih is being prepared to move to the Black Sea to start drilling operations.The news was shared on social media both by TPAO and the country's energy minister Fatih DonmezDonmez on Thursday tweeted…
Italian oilfield services provider Saipem has taken delivery of the DLB Norce Endeavour lay pipe barge from Solstad Offshore.As previously reported, following a charter period, Saipem in March elected to buy the vessel from Solstad.The vessel…
Investors are in for more bad news on the energy front in the coming weeks as a host of the sector's biggest companies report quarterly results following the historic collapse in oil prices.Forecasts for U.S. energy sector earnings this year have dropped along with oil prices…
Norwegian independent oil company Aker BP said on Friday it expected to report a pre-tax loss due to impairments worth $500 million-$700 million related to the oil price crash.North Sea oil prices hit more than 20-year lows this week as demand…
Australia's Santos Ltd posted a 13% drop in first-quarter revenue on Thursday due to lower realized prices for oil and gas, but said it had sufficient liquidity and debt headroom to weather the recent crude price crash.The country's second-largest…
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