Oil prices fell about 2% on Friday and were set to end the week around the same levels as last, with Brent crude just below $80 a barrel, as investors tempered expectations of demand growth from top oil importer China.Brent crude futures LCOc1 fell by $1…
U.S. energy firms last week cut oil and natural gas rigs for the second time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, fell by two to 586 in the week to Aug…
FourPhase, a specialist in solids and production performance for the oil and gas industry, announced it has secured three new or extended service contracts with international operators, reinforcing its role in maintaining sand-producing wells…
An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess…
U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, rose by two to 588 in the week to August 9…
Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months, as refining margins and oil and gas trading weakened, though still beating analysts' forecasts.The results were nearly 25% higher than a year earlier…
BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of $2.76 billion, with weak refining offset by stronger oil prices and retail.The result will ease pressure…
China’s Mingyang Smart Energy has started towing what’s said to be the world’s largest single-capacity floating wind platform, rated at 16.6MW, to the the Qingzhou IV offshore wind farm site in South China Sea.The floater, dubbed OceanX, features…
The first oil from the Anchor field, operated by Chevron with partner TotalEnergies, has started flowing in the U.S. Gulf of Mexico, marking the successful delivery of the high-pressure technology in an industry first.The high-pressure technology…
Canada-based oil and gas company Valeura Energy has produced first oil from its Nong Yao C development offshore Thailand.The first three of the seven Nong Yao C development wells were opened up for oil production on August 15, 2024, with additional wells to be brought online successively thereafter…
Australian oil and gas producer Beach Energy, backed by billionaire Kerry Stokes, slumped to a more than 2-1/2-year low on Monday after it reported a decline in profit and downgraded reserves for a key gas field in Victoria state.The company's shares closed 12…
Offshore engineering and construction firm McDermott has secured an engineering, procurement, construction, installation (EPCI), hook up and commissioning contract from Shell for the Manatee gas field development, offshore Trinidad and Tobago…
Early 2024 saw a group of financial deals that have implications, in a broad sense, for how offshore wind projects may be financed. While offshore wind projects might be thought of as being in the ‘utility finance’ basket, they are ultimately…
Britain's decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin's decline, North Sea drillers said.The new Labour government…
Oilfield services firm Baker Hughes beat analysts' estimates for second-quarter profit on Thursday, powered by higher demand for its drilling services and equipment in international markets.The results echo those from SLB and Halliburton, as…
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