French energy company TotalEnergies does not believe it overpaid for a record-breaking German offshore seabed lease this month, despite industry criticism, CEO Patrick Pouyanne said on Thursday while presenting second-quarter results.'In Germany…
Oil prices edged lower on Monday but were hovering near three-month highs and were set to post their biggest monthly gains in more than a year on expectations that Saudi Arabia would extend voluntary output cuts into September and tighten global supply…
Abu Dhabi National Oil Company (ADNOC) has agreed to acquire a 30% stake in the TotalEnergies-operated Absheron gas and condensate field in the Caspian Sea, for an undisclosed fee.Upon completion of the transaction, ADNOC will own a 30% stake in Absheron…
The Big three oilfield services (OFS) companies will likely report higher profits for the second quarter as resurgent demand in international markets and strong offshore drilling helped counter tepid activity in North America.Baker Hughes, Halliburton…
Italy's Eni said its second-quarter adjusted net profit dropped 49% from last year, reflecting falling oil and gas prices and weaker refining margins. Adjusted net profit in the period came in at 1.94 billion euros ($2.13 billion), down from a bumper result of 3…
Offshore drilling company Shelf Drilling has won a contract for the Shelf Drilling Fortress jack-up drilling rig with a European subsidiary of the Chinese oil company CNOOC in the UK North Sea.Under the contract, the rig, owned by Shelf Drilling's subsidiary Shelf Drilling North Sea…
Exxon Mobil Corp joined its rivals in reporting a 56% slump in second-quarter profit from a year ago, hurt by a drop in energy prices, in line with the midpoint of the company's earnings preview released earlier this month.Oil majors' profits…
Oslo-listed Vaar Energi, majority owned by Italy's Eni, posted on Tuesday a 55% drop in second-quarter operating profit on weaker oil and gas prices, narrowly missing analysts' forecasts. Earnings before interest and tax (EBIT) for the April-June quarter fell to $778 million from $1…
The first phase of what will be the world's largest offshore wind farm - the Dogger Bank in the UK - is expected to start producing electricity 'during summer.'This is according to Equinor, a Norwegian energy giant that is a partner in the project…
U.S.-based oil company Hess said Wednesday it had made an oil discovery at the Pickerel-1 exploration well in the U.S. Gulf of Mexico.The well is located in Mississippi Canyon Block 727, where Hess holds a 100% stake.The well encountered approximately 90 feet of net pay in high quality…
Brazilian offshore support vessel service company OceanPact has acquired two AHTS vessels, Skandi Saigon and Skandi Pacific, from Akastor's subsidiary DDW Offshore.OceanPact chartered the two vessels in March 2021 to support Petrobras' operations…
Oslo-listed oil and gas company BW Energy has started production from the third well of the Hibiscus / Ruche Phase 1 development in the Dussafu license offshore Gabon.'Well performance is in line with expectations, with current production at approximately 6…
A liquefied natural gas (LNG) vessel moored in the Tuscan port of Piombino will be moved off the coast of Vado Ligure and Savona in Italy's northwestern region of Liguria, the president of Liguria said on Tuesday.Italian gas grid operator Snam…
Africa-focused oil and gas company oil and gas company Afentra has agreed to buy stakes in two offshore blocks in Angola from Azule Energy Angola Production, an Angolan JV company formed in 2022 by Eni and BP.Afentra will acquire a 12% interest in Block 3/05 and a 16% interest in Block 3/05A…
Energy majors BP and TotalEnergies have won a 7 gigawatt (GW) offshore wind site auction in Germany worth a record 12.6 billion euros ($14.1 billion), allowing them entry to the central European market without a partnership.Previous auctions have been won by consortia…
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