Poland laid out plans on Tuesday to merge four of its largest energy groups in a move the government hopes will create a player able to compete in international oil, gas and electricity markets.PKN Orlen, the country's largest refiner on Tuesday…
Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound implications for the business strategies of oil-producing companies and countries.Slower growth will intensify…
Oil majors Eni and Royal Dutch Shell were aware that most of the money they spent to buy a Nigerian oilfield in 2011 would go in corrupt payments to politicians and officials, a prosecutor said on Thursday.'They were kickbacks. And Eni and Shell knew it…
After the long, slow downturn that began in late 2014, this year was set to be better with many dormant regions resuming exploration and long-awaited development drilling programs going ahead. Then in mid-March, a double disaster struck as an oil price crash coincided with a global pandemic…
Ireland's Kinsale area offshore gas fields in the Celtic Sea have officially ceased production, after more than 40 years online.The news of production cessation from the gas fields was shared by the operator PSE Kinsale Energy, a subsidiary of Malaysia's Petronas…
Malaysian offshore services provider Icon Offshore is looking to buy the Perisai Pacific 101 offshore drilling rig from Perisai Petroleum Teknologi.Icon Offshore said Monday it was in negotiations with Perisai and its subsidiaries in relation…
Thirty-two years ago, on July 6, 1988, one of the offshore oil and gas industry's worst-ever disasters struck - the explosion of the Piper Alpha platform in the UK North Sea. To this day, the disaster is the worst ever in the industry by the numbers of lives-lost…
Oil prices inched up on Friday as the bullish impetus from signs of fuel demand recovery was kept in check by a rising number of new coronavirus cases in the United States and China and tentative expectations of U.S. output ticking up.Brent crude futures were 40 cents higher at $41…
Brazil's Petrobras said that its platforms P-74, P-75, P-76 and P-77 located in the deepwater Buzios oil field, the largest in the world, achieved record production levels on June 27, totaling 664,000 bpd and 822,000 boed.The oil company said it sold 764…
As the maritime world continues to turn to digital technologies to help maintain business operations amid the coronavirus pandemic, Kongsberg Maritime is planning to digital platforms to ramp up remote delivery of targeted training.The Norwegian…
Occidental Petroleum Corp will write down the value of its oil and gas properties by up to $9 billion this quarter and restructure some debts to avoid a possible default, the company said on Thursday.The U.S. oil producer is trying to shed nearly…
Oil and gas companies Energean and Edison have agreed to exclude Edison's Norwegian assets from the proposed sale of Edison's E&P business to Energean. Apart from the exclusion of Norway, the companies have also reduced the value of the deal by $111 million…
China National Offshore Oil Corp, or CNOOC, has agreed to buy from Royal Dutch Shell two cargoes of liquefied natural gas with offset carbon emissions, marking China's first gas imports of this kind, said the Shanghai Oil and Gas Exchange.CNOOC…
U.S. Gulf of Mexico-focused oil company LLOG Exploration Offshore will tie back its Taggart development to midstream operator Williams' Devils Tower Spar offshore platform.Williams said Wednesday it would provide offshore natural gas and oil…
BP’s announcement that it is going to write down the value of its exploration assets by $8-10 billion (56-70%) shows the accounting impact of its energy transition strategy.It also highlights the huge variation in how oil companies are viewing…
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