Total says has exercised option to buy a 25 pct interest in Orinduik exploration block offshore Guyana.* Orinduik operated by Tullow Oil off Guyana contains an estimated 3 billion barrels of oil and gas, its partner Eco Atlantic said on Tuesday…
BCPG Public Company is looking at ways in which innovation in technology and energy management are encouraging consumers to generate reusable energy and sell it on the retail market, Bundit Sapianchai told Oxford Business Group’s online broadcasting channel…
Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The acquisition signals new optimism for offshore drillers…
U.S. oil producer Magnolia Oil & Gas Corp aims to at least triple in market valuation in coming years as it develops shale acreage across eastern and southern Texas, Chief Executive Steve Chazen said on Wednesday.Magnolia's shares have rallied…
U.S. oil producer ConocoPhillips said on Tuesday it would sell a 16.5 percent stake in the Clair field to oil major BP for an undisclosed price. Houston, Texas-based ConocoPhillips will retain a 7.5 percent interest in the North Sea offshore oil field through a unit while BP will hold a 45…
Offshore drilling rig contractor Seadrill said on Monday it had successfully completed its reorganisation, emerging from a U.S. Chapter 11 bankruptcy process launched last September. The company, once the world's largest offshore driller by the market capitalisation…
Offshore oil services firm Subsea 7 has made an unsolicited offer worth about $2 billion for U.S. rival McDermott, potentially breaking up the U.S. company's agreed deal with onshore engineering firm Chicago Bridge & Iron (CB&I).The deal could…
Offshore rig firm Borr Drilling, controlled by Norwegian investor Tor Olav Troeim, is proposing to buy its rival Paragon Offshore for $232.5 million in a push to consolidate the fragmented rig market, it said on Thursday. A plunge in oil…
Monday U.S. holiday pulls WTI's Friday gain into Tuesday. Brent crude oil prices eased on Tuesday, pulled down by a stronger dollar and a bout of profit-taking, while U.S. futures gained, bringing the discount between the two key futures contracts to a six-month low…
Shell spends $400 mln in recent weeks on renewables, power. Royal Dutch Shell has spent over $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its carbon footprint…
The world's top oil companies are expected to generate more cash in 2018 than at any other time this decade after three painful years of cuts, but it isn't party time yet.The shift in sentiment has been rapid as crude prices have risen by…
BP has brought the Bruce, Keith and Rhum fields back on production following the successful repair of the Forties Pipeline System, Serica Energy reported on 12 January. Production from the fields was shut-in on 11 December, along with other fields using the system…
Taking a look back on the year that was 2017, our OEdigital.com website's most popular stories pretty much tell everything you need to know. While the industry is still adjusting to the downturn, the bright spots are few, but significant…
Accurate monitoring of oil and gas production is an increasingly valuable tool for operators and surveillance engineers but, until recently, visibility of data has been almost exclusively available to on-site operators. For those involved in remote surveillance and decision support…
Operator Aker BP has completed an acquisition of Hess Norge, which owns 10% stakes in the Norwegian North Sea Valhall and Hod fields, from Hess Corp for US$2 billion. At the same time, a deal by Aker BP to sell 10% interest in the…
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