French energy major Total said its net adjusted profit rose 10 percent in the final quarter of 2018, lifting its full year earnings by more than a quarter after record oil and gas production.Total said on Thursday that output reached an all-time high of 2…
U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia's Eurasia Drilling Company (EDC) Russia's Federal Anti-monopoly Service (FAS) said on Monday.Schlumberger, which has its own business in Russia, said last…
Brazilian independent oil firm PetroRio SA, which already owns 70 percent of the Frade oil field, has approached Petrobras about buying its 30 percent stake in the field, a person familiar with the matter said.PetroRio recently signed a deal…
Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes has less exposure to the North American pressure pumping sector…
CWind, part of the Global Marine Group (GMG), a provider of topside, splash zone and subsea engineering services to the offshore renewables and utilities market, it has implemented CrewSmart’s management support service across its fleet of 21…
Exxon Mobil Corp on Thursday outlined a major reorganization of its global exploration businesses aimed at reversing years of weak oil and gas output.Chief Executive Darren Woods, who took over the helm two years ago, has spent billions to buy production…
Britain's Premier Oil Plc said on Monday it was looking to buy U.K. North Sea assets, after the Sunday Times reported that it was preparing to tap shareholders for cash to help it buy about $1.5 billion worth of oil fields.The company's shares fell as much as 12…
Mexico's finance ministry said on Monday that it will implement measures to strengthen the finances and boost the production of state oil firm Pemex, specifically by increasing the limit on deductions for costs related to extraction and exploration…
European owner and operator of semi-submersible accommodation vessels Prosafe has submitted the largest bid in two online auctions for the supply of safety and maintenance support vessels to Brazil.'Prosafe has participated in an online auction…
Australian company Talon Petroleum has agreed to buy 100% of EnCounter Oil in line with its target to scale-up its UK North Sea portfolio.The acquisition, which is for an undisclosed amount and subjected to shareholder approval, is more than doubling the size of Talo's North Sea portfolio…
Brazilian independent PetroRio announced Wednesday that it has acquired Chevron’s stake in the deepwater Frade field in the Campos Basin offshore Brazil for an undisclosed sum.The share purchase agreement sees the U.S. supermajor sell its 51…
The inaugural edition of the relaunched Offshore Engineer magazine is now available, in print and online.Inside the January/February issue you'll find insight on the technologies and projects driving the offshore energy industry, including:FLNGThe…
Oil and gas commissioning and start-up specialist Magma Products announced Tuesday it has appointed Philip Tweedy as managing director.Tweedy, previously commissioning manager at Magma, will be responsible for day-to-day operations at the company’s Aberdeen…
Global offshore drilling market accounted for $79.53 billion in 2017 and is expected to reach $152.47 billion by 2026 growing at a CAGR of 7.5%.Some of the important aspects that driven the market growth are huge investments on new offshore reserves and increasing demand for oil and gas…
Halliburton Co beat Wall Street estimates for quarterly profit on Tuesday, as higher demand for its oilfield services in international markets offset a slowdown in North America.Clients in North America, Halliburton's biggest market by revenue…
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