Energy group Eni achieved its highest ever oil and gas production rate for a third quarter, softening the blow of lower quarterly earnings because of weak oil and gas prices.The Italian company generates around 90% of its operating profit from its upstream oil and gas business…
Total said it has signed an agreement to sell wholly owned subsidiary Total E&P Deep Offshore Borneo BV — which holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei — to Shell for $300 million.“This transaction…
Africa-focused oil and gas explorer FAR Ltd said on Thursday that its two offshore blocks in the Gambia could potentially hold 1.2 billion barrels of oil.FAR, which operates and owns 50% of the two offshore licences, said it was entitled to…
Italian energy company Eni has bought 70% of Edison's stake in Block 12 of the offshore Habi gas concession in Egypt's eastern Mediterranean, an official at state-owned Egyptian gas company EGAS said on Thursday.The official, who spoke on condition of anonymity…
Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.The biggest hydraulic fracking services provider…
A newly created online assessment tool aims to help drilling employers reinforce the competency of roustabouts.Developed as part of the OPITO Skills Screening online tool, a comprehensive question bank has been created by the International Association…
Schlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America…
Norway's Equinor ASA is scouting locations on Brazil's coast to install new natural gas infrastructure, the company's Brazil chief said, as the firm's gas-heavy offshore fields come on-line in the coming years.Natural gas is considered both a promising opportunity and a vexing problem in Brazil…
Singapore state investor Temasek Holdings is offering to buy control of conglomerate Keppel Corp in a S$4.1 billion ($3 billion) deal that could hasten a consolidation in the rig building sector which is battling the effects of low oil prices…
A temporary tax incentive regime, low oilfield breakeven pricing and a chance to profit on modifications alone rather than via drill bit appear to be factors lifting prospects and getting banks behind a stalled Danish offshore revival.On Monday…
When the offshore downturn hit, no operating region was spared. Southeast Asia, once the offshore poster child, found itself falling from grace, and hard. What followed was series of liquidations, bankruptcies, court protection and government intervention…
Crude oil production in the US Gulf of Mexico will continue to set records through 2020, the US Energy Information Administration (EIA) expects.The EIA said it anticipates average annual crude oil production in the US Federal Gulf of Mexico (GoM) in 2019 and in 2020 will top the 1…
Angola is hoping sweeping economic reforms will smooth an ambitious plan to sell key state assets, including stakes in oil company Sonangol, a share of Puma Energy and more than 100 other enterprises.Africa's second biggest oil exporter is in…
Partners Spirit Energy and Dana Petroleum will invest £140 million ($177 million) to extend the life of the Chestnut field in the UK North Sea by as much as three years.The companies announced on Friday that they reached a deal with Teekay to…
Norway's Martin Linge offshore oil and gas project will cost $865 million more than previously expected and take an extra half year to come on line, the government and operator Equinor announced on Monday.The government has also raised its estimate…
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