Oil prices inched up on Friday as the bullish impetus from signs of fuel demand recovery was kept in check by a rising number of new coronavirus cases in the United States and China and tentative expectations of U.S. output ticking up.Brent crude futures were 40 cents higher at $41…
Brazil's Petrobras said that its platforms P-74, P-75, P-76 and P-77 located in the deepwater Buzios oil field, the largest in the world, achieved record production levels on June 27, totaling 664,000 bpd and 822,000 boed.The oil company said it sold 764…
As the maritime world continues to turn to digital technologies to help maintain business operations amid the coronavirus pandemic, Kongsberg Maritime is planning to digital platforms to ramp up remote delivery of targeted training.The Norwegian…
Occidental Petroleum Corp will write down the value of its oil and gas properties by up to $9 billion this quarter and restructure some debts to avoid a possible default, the company said on Thursday.The U.S. oil producer is trying to shed nearly…
China National Offshore Oil Corp, or CNOOC, has agreed to buy from Royal Dutch Shell two cargoes of liquefied natural gas with offset carbon emissions, marking China's first gas imports of this kind, said the Shanghai Oil and Gas Exchange.CNOOC…
U.S. Gulf of Mexico-focused oil company LLOG Exploration Offshore will tie back its Taggart development to midstream operator Williams' Devils Tower Spar offshore platform.Williams said Wednesday it would provide offshore natural gas and oil…
BP’s announcement that it is going to write down the value of its exploration assets by $8-10 billion (56-70%) shows the accounting impact of its energy transition strategy.It also highlights the huge variation in how oil companies are viewing…
Asia's largest energy industry gathering, the Asia Pacific Petroleum Conference will this year take place virtually because of the coronavirus pandemic, S&P Platts said on Thursday.The conference will be held from Sept. 14 to Sept. 16, Platts said in a statement…
Croatia expects to start talks with Hungarian energy group MOL on a possible buyback of shares in Croatian gas and oil company INA by the end of June, the country's Energy and Environment Minister Tomislav Coric said.Croatian Prime Minister…
Premier Oil will issue discounted shares to activist hedge fund ARCM representing 8.91% of the company to pay for North Sea assets from BP, which agreed to reduce the price, Premier said on Friday.ARCM, which owns around 15% of Premier's debt and has a large short position in its shares…
Chinese oil company CNOOC has started production from its Qinhuangdao 33-1S oil field phase I in the Bohai Bay.Qinhuangdao 33-1S is a shallow water oilfield, located in central and western Bohai with an average water depth of 21 meters. 'The…
Neptune Energy has secured a regulatory consent to drill two wildcat wells at the Dugong prospect in the North Sea, offshore Norway.The consent, granted by the Norwegian Petroleum Directorate, concerns the drilling of wells 34/4-15 S and 34/4-15 A…
Nigeria did not fully comply with a pact by oil producers to rein in output to balance markets but will make additional cuts to make up for the lapse, the head of the Nigerian National Petroleum Corporation Mele Kyari said on Wednesday.Nigeria…
Singapore's Temasek Holdings stepped in on Monday to support a S$2.1 billion ($1.5 billion) rights issue by Sembcorp Marine as the state investor moves to help the city-state's struggling rig-building sector.Following the deal, loss-making Sembcorp Marine…
Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later this week.Brent crude futures rose 0.91%, or 35 cents, to $38.67 a barrel as of 0427 GMT…
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