The UK oil and gas industry regulator Oil and Gas Authority has launched its second Wells Insight report, which shows that the number of exploration and appraisal wellbores spudded has been on a decline, however, success rates have improved…
Oil rebounded by more than 5% on Monday to above $76 a barrel as some investors viewed Friday's slump in oil and financial markets on concern about the Omicron coronavirus variant as overdone.Top officials from the Organization of the Petroleum Exporting Countries and its allies…
Chinese oil and gas company CNOOC has started production from the Buzzard Phase II development in the UK North Sea.Buzzard Phase II sits around 100 kilometers northeast of Aberdeen, Scotland, with an average water depth of approximately 96 meters…
The oil and gas industry risks a huge workforce shortage as more than half of workers in the sector seek to move into the renewable energy industry, a survey published on Tuesday showed.The survey conducted as part of a report by recruitment firm Brunel and Oilandgasjobsearch…
MunmuBaram, a joint venture between Shell and CoensHexicon, has secured an Electricity Business License (EBL) for its floating offshore wind project off the coast of Ulsan, South Korea. The EBL from the Ministry of Trade, Industry, and Energy…
Italy's Snam has agreed to buy a stake in pipelines carrying Algerian gas into Italy in a move that could pave the way for hydrogen imports from Africa into Europe.Europe's biggest gas infrastructure group said on Saturday it would pay energy company Eni 385 million euros ($436 million) for a 49…
Brent slid nearly 4% to below $80 a barrel on Friday as a new COVID-19 variant spooked investors, adding to concerns that a global supply surplus could swell in the first quarter following the release of crude reserves by the United States and others…
Australian shares ended higher on Tuesday, buoyed by gains in the mining and energy sectors, a day after BHP Group and Woodside Petroleum gave the final sign-off on their $12 billion Scarborough LNG project.The S&P/ASX 200 rose 0.78% to close at 7…
Energy group Eni could list more than 30% of its new retail and renewables business in what is likely to be one of Italy's biggest initial public offerings next year, sources said.The company said last month https://www.reuters.com/business/energy/italys…
Thailand's state-owned oil firm PTT is set to expand further into pharmaceuticals as part of a consortium acquiring a unit of drugmaker Alvogen, the parent of Taiwan's Lotus Pharmaceutical, PTT said on Friday.A consortium of PTT and Icelandic…
Oil and gas company United Oil & Gas (UOG) has won a two-year extension from the government of Jamaica for the Walton Morant Licence offshore Jamaica. The license will now run to January 31, 2024. United Oil & Gas was last year has been assigned…
Global asset lifecycle support specialist EnerMech has confirmed a three-year extension deal with Petrofac, taking the two company’s working relationship beyond the 10-year mark.Having held the contract since 2012, the 57-strong Aberdeen and…
Adepth Minerals, a Norwegian deep-sea mineral exploration firm, has received a NOK 11.7 million (about $1,3 million) grant from Innovation Norway, triggering investment in FlexiCore technology and enabling the collection of deep-sea mineral core samples in 2022…
The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices after OPEC+ producers repeatedly ignored calls for more crude…
Oslo-listed offshore energy investment firm Standard Drilling has agreed to sell Standard Princess platform supply vessel for $10.3 million.'The proceeds from the vessel and any future divestments of the offshore fleet will be directed towards…
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