Australian oil and gas company Karoon Energy said Friday that the Brazilian national oil regulator ANP had approved, with conditions, Karoon's acquisition of the Bauna offshore field from Petrobras.The field is located in shallow waters in the Santos Basin in concession BM-S-40…
The number of unsold November-loading Angolan crude cargoes fell further on Thursday, traders said, while the Nigerian market was steady.ANGOLAOnly one cargo of CLOV remains unsold after the other found a buyer on Thursday. Details of the cargo's destination were not known…
Norwegian oil and gas company OKEA has received approval to acquire offshore blocks in the North Sea in Norway containing the Aurora gas discovery.OKEA announced the agreement to buy Equinor’s 40% operated working interest in PL195 and PL195 B…
Baker Hughes Co reported a third straight quarterly loss on Wednesday, as a coronavirus-induced slump in commodity prices continued to hurt demand for equipment and services.Producers have been drilling fewer wells following a collapse in crude…
Spanish green energy company Iberdrola reported 4.7% net profit growth for the first nine months on Wednesday and said it still expected that metric to rise at a mid to high-single digit rate this year.Boasting more than 32GW of renewable generation capacity in markets including Spain…
Tip #1: Tribology - Assume All Hydraulic Components are Designed EquallyBelieve it or not, maintenance begins during the design phase. Moving parts create friction, and friction can lead to wear, ending in premature failure, especially when tribology is ignored…
Eni Chief Executive Claudio Descalzi should be acquitted of corruption in a legal case concerning the purchase of an oilfield in Nigeria since there is no evidence to support the charges, Descalzi's lawyer told a Milan court on Wednesday.Speaking in the court hearing…
Bursa Malaysia-listed offshore vessel provider Icon Offshore has struck a deal to buy the Perisai Pacific 101 jack-up drilling rig.The 2014-built rig, owned by a subsidiary of Perisai Petroleum Teknologi Bhd (PPTB), is an asset mortgaged to Oversea-Chinese Banking Corporation (OCBC)…
Dutch tidal power specialist Tocardo has agreed to buy the 1.25MW Oosterschelde Tidal Power Plant, dubbed the largest tidal array in the world. . The plant is installed on the Dutch Oosterscheldekering surge barrier.The Oosterschelde Tidal Power Plant consists of five T-2 tidal turbines…
Top global oil traders Vitol, Trafigura and Gunvor said on Thursday they saw slow oil demand recovery because of a second coronavirus wave with oil prices rising to or above $50 per barrel only by October next year.Benchmark Brent crude futures traded down 1…
Premier Oil abandoned its plans to buy North Sea fields from BP for $210 million after Premier was taken over by rival Chrysaor, marking a small dent in BP's $25 billion disposals target.'Premier will not be proceeding with the proposed refinancing…
U.S. oil company Hess has agreed to sell its 28 percent interest in the Shenzi field in the deepwater U.S. Gulf of Mexico to BHP for $505 million, and use the cash for Guyana operations.Shenzi, a six-lease development in the U.S. Gulf. is currently operated by BHP with a 44 percent stake…
Maritime classification and services company DNV GL led a pilot project with the Norwegian oil firm Aker BP to remotely inspect three offshore cranes on the Norwegian Continental Shelf.DNV GL performed remote safety inspections of one box boom…
Weir Group Plc said on Monday it had agreed to sell its oil and gas division to U.S. heavy equipment maker Caterpillar Inc for $405 million in cash, as the engineering company focuses on its mining business.Shares of Weir surged 22.5% to 1,568p…
Oil prices dropped on Tuesday, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new U.S. stimulus package that lawmakers are struggling to agree.More than 1…
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