The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report.Shaken by a sharp drop in oil prices in recent months…
Private equity-backed oil firm Chrysaor has hired advisers ahead of talks to buy Chevron's British North Sea oil and gas fields for over $2.5 billion, industry and banking sources said.Chrysaor has signed up investment banks Jefferies and BMO…
A U.S. government auction for three wind leases off the coast of Massachusetts ended on Friday with record-setting bids totaling more than $400 million from European energy giants including Royal Dutch Shell Plc and Equinor ASA.The Bureau of…
French supermajor Total SA has been awarded two new blocks covering 14,175 square kilometers, offshore Mauritania by the natural resource-rich country's Ministry of Petroleum, Energy and Mines hence boosting the integrated oil and gas company's…
Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business.The alleged graft was the latest finding of the country's sweeping 'Car Wash' investigation…
U.S. crude inventory declined again last week, reducing fear of a repeat 2014/16 oil glut occurring. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates a small inventory fall of 1.2 million barrels in the week ended December 7…
Independent crude oil and natural gas producer Canadian Natural Resources (CNR) and its joint venture partner in Cote d'Ivoire, Svenska Petroleum, plan to commence the fourth phase of the development of the deepwater Espoir asset in 2019, on…
Egypt’s petroleum ministry has signed an agreement for UK Petroleum giant British Petroleum (BP) and UAE investment fund Mubadala to buy a 45 percent stake in the country's Noor offshore natural gas concesion in the Mediterannean from Italy’s Eni…
Norway's Equinor said it has decided with its partners to invest some NOK 1.4 billion ($164.7 million) in a boosting station for the long-producing Vigdis field in the Norwegian North Sea.The new boosting station, expected to come online in the first quarter of 2021…
Apache Corporation announced it has begun producing from its Garten development on Block 9/18a Area-W in the U.K. sector of the North Sea, ahead of the initial target of first-quarter 2019. The discovery well, which is located 6 kilometers south of the Beryl Alpha Platform…
Singapore’s Swissco Holdings, currently under judicial management, announced that it is disposing of a substantial part of its offshore support vessels division, which is expected to help reduce the group's liabilities.UAE's Allianz Middle East…
The new floating production unit currently being constructed for the Mad Dog 2 project in the deepwater Gulf of Mexico will be named Argos, U.K. oil major BP announced.BP said the name was chosen by the project team and an employee survey and…
Oil rose above $60 a barrel on Monday, recovering some of the previous session's near-7 percent fall, although uncertainty over global economic growth limited the gains.Brent crude futures rose $1.84 to $60.64 a barrel by 1445 GMT, while U.S…
EnQuest expects to produce about 20 percent more oil next year as the indebted British North Sea producer strives to recover from a series of minor setbacks at its flagship field.The company said on Wednesday it expected to produce between 63…
Norway's DNO has launched a hostile bid to buy all of Faroe Petroleum in a deal valuing the London-listed company at around 608 million pounds ($781 million), sending Faroe shares up by a quarter.DNO, which already owns 28 percent of Aberdeen-based Faroe…
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