Australian oil and gas company Cooper Energy might bring its Annie gas discovery online in 2022.Cooper, in cooperation with Mitsui E&P, made the discovery at the Annie-1 well, located 9 kilometers offshore Victoria, Australia, in September 2019…
Oslo-listed BW Energy has started oil production from the Tortue Phase 2 field development project in the Dussafu Marin Permit offshore Gabon.The Gamba well DTM-5H was successfully brought online as of 4 March, ahead of schedule. The second well…
Oil prices fell over 2% on Thursday, plunging for a fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fuelled fears of a pandemic that could slow the global economy and dent demand for crude.Brent crude was down $1…
Offshore energy stocks, about 34 of them, soared in value on Monday, as investors ignored corona-virus fears and heeded instead a number of U.S. and Norwegian market reports.Shares in Northern Drilling soared 31.48 percent by mid-morning in Oslo (before settling 12 percent up)…
There are surveys, and then there are surveys. For survey-tech outfit, Ecotone, the business model is offering a faster, digital way to monitor the health of seabed environments and offshore infrastructure. There’s enough to do with Norway set to invest $4…
The upstream oil and gas sector’s biggest commercial fear from the Coronavirus (COVID-19) epidemic is its impact on demand and prices. Only a small proportion of global supply comes from the worst-affected regions.Manufacturing shutdowns and shipping bottlenecks are causing project delays…
Oilfield services provider Petrofac reported a 16.7% drop in core profit for 2019 on Tuesday and reiterated forecasts of a decline in revenue this year as it recovers from a hit to orders in Saudi Arabia and Iraq last year.Petrofac officials…
Romania's Romgaz said it has agreed with OMV Petrom and Poland's PGNiG to make a joint offer for Exxon Mobil's 50% stake in a long-stalled offshore natural gas project in the Black Sea if the U.S. company decides to sell.State-owned Romgaz would…
Greek oil company Energean Oil and Gas has signed a deal to buy Total’s stake in Block 2, offshore Western Greece.Energean said the acquisition would provide material exploration opportunities in its core area of the Eastern Mediterranean with limited financialexposure…
Offshore drilling firm Seadrill said on Thursday the recent recovery of rig markets had slowed at the start of 2020, and that discussions with creditors on how to handle its massive debts would continue.The company booked $39 million in adjusted earnings before interest…
Indonesia's oil and gas output is expected to contract for a fourth consecutive year in 2020, as aging fields and delays to new projects keep production levels below government targets, analysts said.The output decline comes as Jakarta proposes…
Oil prices fell on Friday as weak Asian data and a rise in new coronavirus cases fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.Brent crude was down $1.56, or 2.6%, at $57…
The Chinese oil company CNOOC has, via its European subsidiary, extended a contract for logistics management with ASCO. Under the five-year extension worth over 100 million pounds, ASCO will continue supporting CNOOC Petroleum Europe Limited's North Sea assets…
Despite a string of good-news messages in recent weeks, the price of oil continued its weeklong slide on Monday, taking with it many of Norway’s oil-focused stocks.A large swathe of listed offshore suppliers and energy companies took a pounding…
Africa-focused oil company Vaalco Energy has said that its South East Etame 4P appraisal wellbore offshore Gabon in the Etame Marin permit area successfully encountered oil sands in the Gamba formation.The well, drilled from the Vaalco-operated South East Etame North Tchibala (SEENT) platform…
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