China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.The company plans to spend 70 billion to 80 billion yuan ($10…
The deepwater exploration company operating primarily in the Gulf of Mexico reported the drilling of a successful discovery on its Nearly Headless Nick exploratory prospect on Mississippi Canyon Block 387 in the deepwater Gulf of Mexico.Louisiana…
Britain's Premier Oil Plc said on Monday it was looking to buy U.K. North Sea assets, after the Sunday Times reported that it was preparing to tap shareholders for cash to help it buy about $1.5 billion worth of oil fields.The company's shares fell as much as 12…
Norway's Aker BP will boost dividend payments between now and 2023 and step up investment in developing offshore oil and gas fields next year, the independent oil company said on Thursday.The result of a 2016 merger between the Norwegian operations…
Faroe Petroleum's Chief Executive Graham Stewart, Chief Financial Officer Jonathan Cooper and Chief Operating Officer Helge Hammer will resign, Faroe said on Friday after the company was taken over in a hostile bid by DNO.The executives, including Stewart who was among the founders of Faroe…
London-listed Ophir Energy has suffered a major setback on its offshore investment plan in Equatorial Guinea after the country's Ministry of Mines and Hydriocarbons (MMH) declined the company's request to extend Block R licence that expired on December 31…
Oil workers accepted an improved pay offer by the Offshore Contractors Association to 2,500 union members, the Unite union said, a move which removes the threat of strike in the British North Sea which is home to the Brent crude benchmark.'Unite Scotland's 2…
Norwegian oil company DNO has secured control of Faroe Petroleum, a day after raising its hostile bid for the British company to 641.7 million pounds ($819 million).The move effectively ends a bitter battle that started around nine months ago when DNO bought a stake in the British firm…
Dubai-based Marine logistics company Topaz Energy and Marine (Topaz) has signed an agreement with a north European contractor for the charter of Topaz's newbuild for offshore wind farms in the North Sea.The contractor will charter Topaz’s newbuild subsea vessel…
Norwegian oil firm DNO has bought another 914,732 shares in Faroe Petroleum at 151.6 pence each, it said on Tuesday.The purchase, at just below the 152 pence per share price it has offered in a takeover bid for Faroe, adds slightly to DNO's stake…
French energy giant Total is in advanced talks with privately owned firms Albion Energy and First Alpha Energy Capital on the sale of some of its British North Sea assets, two industry sources said.In July, four banking sources told Reuters…
Britain's Faroe Petroleum reiterated on Thursday its opposition to a hostile bid by Norway's DNO, which it said was 'inadequate' and substantially undervalued the Aberdeen-based firm.DNO, which last week maintained its offer to buy Faroe in…
A 78-percent refund on exploration aside, drilling is now so “cheap” in Norway, that the drill bit has become the preferred method for newcomer oil companies to get astride some production — quickly.That’s the verdict of Aker BP’s new head of exploration…
Private equity-backed oil firm Chrysaor has hired advisers ahead of talks to buy Chevron's British North Sea oil and gas fields for over $2.5 billion, industry and banking sources said.Chrysaor has signed up investment banks Jefferies and BMO…
New UK North Sea-focused oil and gas company Tailwind Energy has announced first oil from the 100% owned Gannet E redevelopment to the Triton FPSO. The London-based contracts services company for North Sea work said in a press note that the…
Subscribe
