A British court on Wednesday approved Premier Oil's plans to extend debt maturities by two years and raise up to $500 million in equity to buy North Sea assets from BP and others, but the deal depends on market conditions, Premier said.Activist hedge fund ARCM…
Brazilian state-run oil firm Petrobras has reversed most of its previously announced production cuts due to higher-than-expected demand for some fuels, it said on Monday, a surprising turnaround that may be tied to an aggressive bet on bunker fuel…
Spain's Repsol reported a 28% fall in first-quarter profit on Tuesday, becoming the latest oil and gas company to show the deep damage done to its balance sheet by the coronavirus laying waste to energy demand.Oil prices fell 65% in the period…
Gulf Marine Services (GMS), a UAE-based provider of offshore service jack-up units has rejected a takeover proposal from Seafox.Seafox on April 30, 2020, announced an unsolicited and non-binding approach to acquire the entire issued and to be issued share capital of Gulf Marine Services…
Mexico has begun removing staff from Gulf of Mexico oil platforms to limit the spread of the coronavirus, leaving essential personnel on board, state oil firm Petroleos Mexicanos (Pemex) said on Sunday.Pemex said in a statement that workers…
A joint venture between Greek utility DEPA and Italy's Edison is seeking to shortlist two contractors to build part of a pipeline to carry natural gas from the eastern Mediterranean's rapidly developing gas fields to Europe, DEPA said on Thursday…
These days history seems to be in the making on a daily basis. On April 20, 2020, the price of the NYMEX West Texas Intermediate Sweet Crude Oil (WTI) futures contract for May delivery plunged into the negative, forcing sellers to actually pay…
The U.S. Securities and Exchange Commission has dropped its inquiry into Royal Dutch Shell's 2011 acquisition of an offshore oil block in Nigeria, the Anglo-Dutch company said on Thursday.'The SEC has notified us that it has closed its inquiry into Shell in relation to OPL 245…
Norwegian oil firm Aker BP has started production from the first Ærfugl phase 2 well in the Norwegian Sea, which is, according to the company, three years ahead of the original plan. The Ærfugl field produces via Skarv FPSO approximately 210 km west of Sandnessjøen…
The Trump administration will not make a broad cut to the royalty rate oil and gas companies must pay on their offshore drilling operations despite a historic oil price collapse that has put the industry in crisis, a Gulf Coast lawmaker briefed on the matter told Reuters on Wednesday…
Recent turbulence in the price of light sweet crude oil futures has highlighted how little is known about the positions of traders and their impact on the formation of prices.Exchanges and regulators see the positions of all members and traders…
Woodside Petroleum's final investment decision on the $11 billion Scarborough gas project will require stable oil prices and credit ratings, the company's CEO said on Thursday.The company in March deferred a final investment decision on the…
The U.S. SEC has closed its investigation into Eni over the Italian oil major's activity in Nigeria and the Congo without recommending further action, Eni said on Wednesday.'Based on the information currently available to the SEC, it is otherwise…
Woodside Petroleum is keeping a close eye out for assets that might come up for grabs from the oil supermajors amid the oil market rout, seeing itself in a position to bid, Chief Executive Peter Coleman said on Friday.The head of Australia's top independent gas producer said…
India's Reliance Industries has cut the pay of some top oil-and-gas division employees by up to 50%, according to six sources and a letter seen by Reuters, as it battles lower profitability because of the coronavirus epidemic.Reliance, headed by India's richest man…
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