Oil and gas company Otto Energy has said that Matthew Allen will step down as Chief Executive Officer and from the Board as Managing Director effective immediately by mutual agreement following the completion of his two-year assignment to Houston…
ConocoPhillips Chief Executive Officer Ryan Lance on Wednesday expressed surprise at the quick rebound in U.S. oil prices that slipped into the negative territory in April and said he expects prices to remain volatile in the near term.Oil is now trading at near $40 per barrel…
French industrial cable supplier Nexans has been awarded a contract by SSE Renewables to deliver cables for the recently sanctioned 1,075 megawatt (MW) Seagreen offshore wind farm project.The contract calls for Nexans to design, manufacture…
OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil production cuts by one month while raising pressure on countries with poor compliance to deepen their output cuts, OPEC+ sources told Reuters…
Norwegian oil firm Aker Energy, which operates the Pecan offshore oil field development offshore Ghana, is not giving up on the project, despite having recently delayed a Final Investment Decision 'indefinitely' due to the plunge in oil prices…
The COVID-19 crisis has affected a wide range of businesses, but its impact on the oil and gas industry is particularly severe due to restrictions on travel as well as other broader economic activities, causing a heavy blow to the global oil demand…
Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July and as China's crude imports hit an all-time high in May.Brent crude was up 51 cents, or 1.2%, at $42.81 per barrel, by 0628 GMT, while U…
Malaysia's prime minister on Saturday appointed the finance chief at Petroliam Nasional Bhd (Petronas) to take over as chief executive at the state energy company, at a time when lower oil prices and the coronavirus pandemic have hit the firm's profits…
Oil and gas company Red Emperor Resources NL will not be exercising its option to acquire a 70% operated interest in the Perth Basin exploration permit, WA-481-P, offshore AustraliaThe company had in late 2019 agreed to fund the completion of…
Norway's subsea pipeline repair and tie-in solutions provider Connector Subsea Solutions (CSS) has completed the acquisition fo Isotek Oil and Gas for an undisclosed fee.CSS said the purchase would bring Isotek’s remote welding technology to…
Oil and gas company Neptune Energy has been given a regulatory consent to use the Deepsea Yantai drilling rig for production drilling at its Gjøa field, offshore Norway.According to the Petroleum Safety Authority Norway which gave the consent last week the drilling will take 240 days to complete…
OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market…
The volume of crude stored on ships in Asia has come off the peaks seen earlier this month on a recovery in demand in China and India, trade sources and analysts said. A total of 3.4 million tonnes (24.8 million barrels) of crude oil was discharged…
British oil major BP has agreed to discount the price of the North Sea assets it is selling to Premier Oil, Premier said on Friday.Under the new deal, Premier only has to pay $115 million out of the initial price of $625 million if oil prices…
U.S. offshore vessel provider Seacor Marine will buy the remaining 50% stake in Seacosco from China's Cosco.Seacor will pay $28.15 million in installments, and the transaction is expected to close in June 2020.With the acquisition, Seacor will…
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