Shares of U.S. oil major Chevron Corp on Wednesday hit an all-time high amid a strong stock market rally and ahead of the release of Chevron's fourth-quarter financial results Friday.Shares of most major producers rose after oil touched $90 a barrel for the first time in seven years on Wednesday…
The British government said on Tuesday it will commit nearly 32 million pounds ($42 million) to fund the development of floating offshore wind projects to help lessen its dependence on gas, the price of which has increased sharply.The 31.6 million…
Germany could find itself in a no-win situation if Russia invades Ukraine, pitting Berlin's main gas supplier against its most important security allies.Chancellor Olaf Scholz would face pressure from the United States and other Western allies…
Norway's trade surplus rose to a new record in December, boosted by soaring prices for its natural gas exports, national statistics agency data showed on Monday.The December surplus hit 106 billion Norwegian crowns ($12.09 billion), beating a previous record of 84…
The Norwegian government said on Friday it has raised its projected fiscal spending for 2022 as it seeks to compensate businesses affected by coronavirus lockdown measures and subsidize households hit by a surge in electricity prices.The center-left minority coalition now plans to spend 355…
Norway, the world’s top market for subsea tie-back projects in coming years, is facing an inflation-driven cost increase of $6.5 billion on upcoming contract awards for goods and services in the offshore oil and gas industry through 2026, a Rystad Energy report reveals…
Europe's Big Oil companies are planning to spend their windfall from high energy prices on becoming Small Oil.Surging oil and gas prices in 2021 delivered billions of dollars in profits to top oil companies, in stark contrast to the previous…
Oil rose towards $79 a barrel on Monday supported by tight supply and hopes of further demand recovery in 2022 spurred in part by a view that the Omicron coronavirus variant is unlikely to significantly dampen the outlook.Libyan oil output will be cut by 200…
Gabon's oil workers' union and water and electricity workers' union began a general strike on Tuesday in protest against COVID-19 restrictions and the cost of PCR tests, they said.'We hereby inform you of the launch of an unlimited general strike…
Partners Group, a global private markets firm, has agreed, on behalf of its clients, to buy North Star, a UK-based operator of emergency response and rescue vessels, which has recently also dived into the offshore wind sector with several orders…
Schlumberger, the world's largest oilfield services company, is adjusting operations planning as COVID-19 infections have soared among its U.S. workforce, the company said on Friday.Schlumberger has had around 14 employees per day test positive for the virus this month…
Oil prices extended gains on Tuesday with prices trading near the previous day's one-month high on hopes that the Omicron coronavirus variant will have a limited impact on fuel demand.Brent crude rose 7 cents, or 0.1%, to $78.67 a barrel, by 0728 GMT…
U.S. Gulf of Mexico-focused oil and gas company W&T Offshore has agreed to buy working interests in and operatorship of oil and gas producing properties in Federal shallow waters in the central region of the Gulf of Mexico from privately-held…
A tight physical market and buoyant demand from Asia helped prop up prices for West African crude on Monday.A narrow WTI-Brent spread was favoring flows of lighter West African grades into Asia as opposed to competing American crude grades, traders said…
Portfolio investors have started to rebuild bullish positions in the oil market, reassessing earlier fears about the likely impact of the Omicron variant of coronavirus on major economies and passenger aviation in 2022.Hedge funds and other…
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