North Sea-focused oil and gas company NEO Energy, backed by HitecVision, on Wednesday announced its plan to cut carbon emissions from its operations. The company, which in February agreed to buy ExxonMobil's Northern North Sea fields off the UK in a transaction valued at more than $1 billion…
BP's profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving the way for the energy company to start buying back its shares.The jump in profits from a year…
Oslo-listed offshore drilling contractor Shelf Drilling has secured a ten-year contract extension for the High Island IX jack-up rig.The contract for the 1983-built, 2012-upgraded jack-up drilling unit is in direct continuation of its current contract in Saudi Arabia…
Poland's biggest power group PGE and Denmark's Orsted have finalized a deal to jointly develop two offshore wind projects in the Baltic Sea, PGE said on Thursday.Under the terms of the deal, Orsted bought 50% in each of two PGE units developing two offshore projects totalling 2…
U.S. energy firms added oil and natural gas rigs this week, leading to a ninth straight monthly rig count increase, as a recovery in prices lured some drillers back to the wellpad.The oil and gas rig count, an early indicator of future output…
Denmark-based Enelift, a lifting solutions provider for the energy industry until recently known as Global Offshore, on Thursday announced expansion plans that will see the company invest 'a seven-figure sum' into its operations and establish new support hubs in Houston…
Italian oil company Eni and Australia-based Santos on Monday agreed to jointly seek cooperation opportunities in Australia and East Timor.Under the non-binding memorandum of understanding, the companies will look at potential optimizations, synergies…
Global communications firm Viasat has completed the acquisition of the offshore communications solutions provider RigNet, after RigNet’sstockholders approved the transaction on April 21, 2021.The proposed merger was first announced in December 2020…
Russia's Gazprom on Thursday reported an 89% fall in 2020 net profit to 135.3 billion roubles ($1.8 billion), hurt by lower prices and sales and a huge rise in costs including a foreign exchange-related loss, but it expects a recovery in 2021…
French oil major Total has started oil production from the Zinia Phase 2 project offshore Angola, connected to the existing Pazflor FPSO.The Zinia Phase 2 project includes the drilling of nine wells and is expected to reach a production of 40…
Maritime survival equipment specialist Survitec has completed the acquisition of Hansen Protection, a provider of personal protective equipment. Ron Krisanda, Executive Chairman at Survitec, commented: 'The addition of Hansen Protection, and its leading portfolio in personal protective equipment…
Italian energy group Eni is planning to spin off a minority stake in its new retail and renewable business next year, it said on Friday, after announcing first quarter profits that missed expectations.Several European energy companies, including Spain’s Repsol…
Europe's major energy companies profited from a rise in oil prices to report big increases in first-quarter earnings on Thursday, putting the worst of the pandemic era slump in fuel demand behind them.Last year's demand collapse forced BP, Royal…
Chevron Corp's first-quarter profit fell 29% from the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset sale that benefited results last year.Oil companies are generally enjoying a recovery in energy prices…
Norway's Aker BP posted record first-quarter operating profit and revenue on higher prices and production on Wednesday as the independent oil and gas producer looks to approve several developments this year.Earnings before interests and tax…
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