Private equity-backed Neptune Energy expects output to slip to 155,000 barrels of oil equivalent per day (boed) this year, it said on Wednesday, as it reported operating cashflow of $362.3 million for the first quarter.It produced 162,000 boed…
US crude inventory now 6% above the five year average – Brent crude price down 17% over past 10 daysRecent government data indicate a US crude inventory surplus has been forming. The latest EIA survey shows 483 million bbls in inventory as of…
Occidental Petroleum Corp 's activist investor Carl Icahn has filed a lawsuit against the company over what it called its 'misguided' pact to buy Anadarko Petroleum Corp, and may seek a special meeting to remove and replace board members.The lawsuit…
French oil firm Total plans to start production at Azerbaijan's Absheron gas field in the Caspian Sea in 2021 after getting positive results from the drilling of a first well, a senior company official told Reuters.The decision to start production at the field…
Petronas has produced its first liquefied natural gas (LNG) from a floating LNG (FLNG) facility at the Kebabangan cluster field, 90 kilometers offshore the eastern state of Sabah, the Malaysian state-owned oil company announced on Tuesday.First…
The Shell-operated Appomattox floating production system in the US Gulf of Mexico has been brought into production several months ahead of schedule, the British-Dutch supermajor announced on Thursday.The ultra-deepwater Appomattox development…
Oil prices rose on Thursday for a third day running as fears of supply disruption amid heightened tensions in the Middle East overshadowed swelling U.S. crude inventories.Brent crude futures were up $1.03 cents at $72.80 a barrel by 1344 GMT…
Madrid-based integrated offshore operator Repsol is leading a pack of foreign oil companies in Norway that are extracting largely tail-end production in exchange for paying a decommissioning tab or getting a second shot at an older oilfield…
US oil major Chevron has stated that it will not make a counter proposal for Anadarko Petroleum, following Occidental's counter bid. Chevron said that: 'Under the terms of its previously announced merger agreement with Anadarko Petroleum Corporation…
The Norwegian oil and gas operator focused on the Middle East and the North Sea, DNO ASA said it has completed the private placement of USD 400 million of new, five-year senior unsecured bonds with a coupon rate of 8.375 percent.The bond placement…
German utility RWE would consider teaming up with peers and oil companies to make a move in the U.S. wind market, its chief financial officer Markus Krebber said on Wednesday.RWE will become Europe's third-largest renewable group following a deal to acquire the green energy units of E…
Oil and gas procurement specialist, Craig International has won a North Sea contract worth around GBP 20 million with BP.The Aberdeen-based oilfield services firm provide third party procurement services including equipment for maintenance…
The stately Norwegian operator’s foray into South Australian offshore and Norway’s remote areas is being contested by increasingly successful green groups.A first installment of Norwegian operator Equinor’s plans to drill and develop oil reserves…
Before Occidental Petroleum Corp clinched a deal on Thursday to buy Anadarko Petroleum Corp for $38 billion, it pursued its U.S. oil and gas exploration and production rival for nearly two years, culminating in the sector's most high-profile public contest since the 1980s…
Israel's Delek Group confirmed on Sunday it submitted a proposal through its Ithaca unit to buy Chevron's oil and gas fields in the British North Sea.Last week Reuters reported that Delek was close to clinching Chevron's oil and gas fields in the British North Sea…
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