Australia's Woodside Petroleum Ltd reported a worse-than-feared 29% drop in quarterly revenue, hit by weak spot liquefied natural gas (LNG) prices, but said it still expected to book a net profit in the first half.The hit came due to the double…
Ireland-based oil and gas company Providence Resources has said it is progressing farm-out talks with SpotOn Energy over its offshore block containing the Barryroe discovery.London-listed Providence said Monday that SpotOn Energy had confirmed…
Aker Solutions announced a merger with Kvaerner and a new chief executive on Friday, forming a firm with $4 billion in revenue that will target the growing renewable energy market.The two oil services firms are controlled by Norwegian billionaire…
Norway's June crude oil output fell more than expected from May while natural gas production rose less than expected, the Norwegian Petroleum Directorate said on Friday.Crude oil output fell 12% to 1.54 million barrels per day (bpd) which was 4…
Global oil demand will soar by a record 7 million barrels per day (bpd) in 2021 as the global economy recovers from the coronavirus pandemic but will remain below 2019 levels, OPEC said in its monthly report.It was the first report in which OPEC assessed oil markets next year…
Norwegian drilling contractor Odfjell Drilling has taken over platform drilling and maintenance operations at ConocoPhillips' Ekofisk Area in the North Sea, offshore Norway.The move follows a contract signed between the two parties in December…
Norway's Equinor has made a minor, but potentially commercial, oil discovery in the production license 089 in the North Sea around 160 kilometers west of Florø, Norway.The objective of the exploration well was to prove petroleum in reservoir…
Poland laid out plans on Tuesday to merge four of its largest energy groups in a move the government hopes will create a player able to compete in international oil, gas and electricity markets.PKN Orlen, the country's largest refiner on Tuesday…
After the long, slow downturn that began in late 2014, this year was set to be better with many dormant regions resuming exploration and long-awaited development drilling programs going ahead. Then in mid-March, a double disaster struck as an oil price crash coincided with a global pandemic…
Danish offshore wind power giant Ørsted will not be building an interconnection facility at the Fenwick Island State Park in Delaware, for the 129MW Skipjack offshore wind farm, as previously planned.A year ago, Ørsted signed a non-binding memorandum…
Israeli conglomerate Delek Group swung to a big first-quarter loss as a fall in oil prices brought an impairment at its North Sea operations, Ithaca Energy.Delek has been hard hit by the global coronavirus crisis and a drop in oil prices and…
Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound implications for the business strategies of oil-producing companies and countries.Slower growth will intensify…
Brazil's oil industry expects a recovery in domestic demand in the next months driven by growing China imports, but the negative effects of COVID-19 are expected to last through the end of 2021, lobbying group IBP said in a note on Tuesday.Consumption could drop by more than 10%…
Oil majors Eni and Royal Dutch Shell were aware that most of the money they spent to buy a Nigerian oilfield in 2011 would go in corrupt payments to politicians and officials, a prosecutor said on Thursday.'They were kickbacks. And Eni and Shell knew it…
Dutch geotechnical services firm Fugro has mobilized two additional vessels off the coast of New Jersey to support its ongoing site characterization work for Atlantic Shores Offshore Wind.Atlantic Shores Offshore Wind is a joint venture between Shell and EDF working to develop a 183…
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