Norwegian oil company DNO has secured control of Faroe Petroleum, a day after raising its hostile bid for the British company to 641.7 million pounds ($819 million).The move effectively ends a bitter battle that started around nine months ago when DNO bought a stake in the British firm…
Offshore wind power operators in the German North Sea raised generation capacity by 12.7 percent to 6,232 megawatts (MW) last year, nearing a government target of 6,500 MW national offshore capacity by 2020, grid company TenneT GmbH said on Thursday…
Norwegian offshore drilling rig firm Seadrill Ltd said on Thursday that Chief Financial Officer Mark Morris will step down following completion of the company's financial restructuring.The company, controlled by Norwegian-born billionaire John Fredriksen…
Britain's Premier Oil cut debt to $2.3 billion at the end of 2018, below a previous forecast of $2.4 billion, it said in a trading update on Thursday.Premier's full-year production of 80,500 barrels of oil equivalent per day (boepd) came in…
Dubai-based Marine logistics company Topaz Energy and Marine (Topaz) has signed an agreement with a north European contractor for the charter of Topaz's newbuild for offshore wind farms in the North Sea.The contractor will charter Topaz’s newbuild subsea vessel…
Oil and gas investment in Norway is expected to grow for a second year in a row in 2019 but will fall back between 2020 and 2023, an industry lobby group said on Monday.Western Europe's largest oil producer has seen a recovery in oil industry activity thanks to higher crude prices…
While the late 2018 oil price swoon has put a damper on an otherwise positive year for offshore energy markets, Transocean Ltd. (NYSE: RIG) ends the year on a positive, signing a construction management contract, as well as a five-year drilling contract with Chevron USA…
Medco Energi Internasional Tbk PT would boost its valuations and gain access to international assets if its potential takeover of London-listed Ophir Energy occurs, analysts said on Wednesday.Medco confirmed this week that it was in talks with…
Norwegian oil firm DNO has bought another 914,732 shares in Faroe Petroleum at 151.6 pence each, it said on Tuesday.The purchase, at just below the 152 pence per share price it has offered in a takeover bid for Faroe, adds slightly to DNO's stake…
Pandion Energy has acquired a 30 percent stake in production licence 842 in the Norwegian Sea from Aker BP, the Oslo-headquartered company said on Monday.Operator Capricorn has a 40 percent stake while Norway's Skagen44 owns the remaining 30 percent in the 425 square kilometer field…
Oil rose to $51 a barrel on Wednesday on perceptions that a price slide to 2017 lows prompted by economic worries had been overdone amid an OPEC-led effort to tighten supply.Crude has been caught up in wider financial market weakness as the U…
U.S. crude inventory has leveled off after declining three weeks in a row. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates U.S. crude inventory as of December 21 was the same as seven days earlier.The past…
Oil surged on Wednesday, posting its strongest daily gain in more than two years in a partial rebound from steep losses that pushed crude benchmarks to lows not seen since 2017.Both U.S. and Brent crude rose about 8 percent, their largest one-day increase since Nov…
Royal Dutch Shell plc announced Friday it has completed the sale of its New Zealand upstream oil and gas assets, marking the supermajor's exit from the Oceania country.The $578 million sale to Austrian integrated oil and gas company OMV includes the Māui…
Canadian oil and gas producer Husky Energy Inc on Thursday cut its 2019 capital expenditure program by about 8 percent, or C$300 million, citing Alberta's mandatory curbs on output and lower oil prices.The company now expects 2019 capital expenditure of C$3…
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