Brazilian independent oil firm PetroRio SA, which already owns 70 percent of the Frade oil field, has approached Petrobras about buying its 30 percent stake in the field, a person familiar with the matter said.PetroRio recently signed a deal…
Ophir Energy Plc said on Wednesday it has agreed to be bought out by Indonesian oil and gas group Medco for a sweetened bid of 390.6 million pounds ($511.02 million) in cash.The offer of 55 pence per Ophir share represents a 65.7 percent premium to Ophir's closing price on Dec…
U.S. oilfield services giant Schlumberger has withdrawn its bid for a stake in Russia's Eurasia Drilling Company (EDC) Russia's Federal Anti-monopoly Service (FAS) said on Monday.Schlumberger, which has its own business in Russia, said last…
Four years after French major Total SA suspended the search for natural gas off the Southern coast of South Africa, it was good news this week for the company's shareholders and partners when the exploration and production giant announced the successful drilling of its Brulpadda well…
In less than 12 months Eni CEO Claudio Descalzi has turned the Middle East from a sideshow to a strategic hub for the Italian energy major. And the shift is not over.Since last March the 63-year-old has clinched nine deals in the United Arab Emirates…
Australian company Talon Petroleum has agreed to buy 100% of EnCounter Oil in line with its target to scale-up its UK North Sea portfolio.The acquisition, which is for an undisclosed amount and subjected to shareholder approval, is more than doubling the size of Talo's North Sea portfolio…
Aker Solutions reports Q4 2018 revenue of $813 million, an 8% rise compared to Q4 2017 powered by “significant international awards in a competitive, but improving market.” In total, order intake for the quarter was $615.6 million, leaving the company with an order backlog of more than $4 billion…
Repsol has reached an agreement with Total to acquire its 7.65% stake in the producing Mikkel field, in the eastern part of the Norwegian Sea.The Mikkel field is a gas and condensate reservoir located 35 kilometers south of the Midgard deposit on Equinor’s Åsgard field in the Norwegian Sea…
Exxon Mobil Corp on Friday reported a quarterly profit that topped analysts' estimates, pushing it shares up nearly 3 percent in premarket trading as its oil and natural gas output rose slightly on a year-over-year basis.The company's fourth-quarter net income fell to $6 billion…
U.S. oil and natural gas producer Chevron Corp on Friday reported quarterly earnings that topped analysts' estimates on higher prices and production, sending shares higher in premarket trading.Results for the San Ramon, California, company reflected a 12…
ConocoPhillips beat quarterly profit estimates on Thursday as the world's largest independent oil producer sold more oil at higher prices, sending its shares up 2 percent before the opening bell.Total production, excluding Libya, rose 94,000 barrels of oil equivalent per day (boe/d) to 1…
Singaporean conglomerate Keppel Corp posted improved results for the fourth quarter, helped by narrower losses in its offshore and marine division, and said it was seeing signs of recovery in the rig industry.The company on Thursday reported a net profit of S$135 million ($99…
Brazilian independent PetroRio announced Wednesday that it has acquired Chevron’s stake in the deepwater Frade field in the Campos Basin offshore Brazil for an undisclosed sum.The share purchase agreement sees the U.S. supermajor sell its 51…
Oil and gas producer Hess Corp's fourth-quarter production beat Wall Street estimates on Wednesday, driven by higher output from the Bakken shale region and the Gulf of Mexico.Total production for the quarter ended Dec. 31, excluding its Libyan operations…
Floating production storage and offloading vessels (FPSO) are by far the most popular type of floating production system, accounting for two thirds of the oil and gas production floaters in service or available.Growth in FPSO inventoryThe number…
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