Oil prices slipped on Friday as Russia said it would need more time before committing to output cuts along with OPEC and other producers amid falling demand for crude as China battles the coronavirus epidemic. Brent crude futures fell 49 cents…
Canadian oil company Africa Oil has received the South African government's approval to buy into the offshore block 3B/4B.Africa Oil will acquire a 20% stake in the Block 3B/4B Exploration Right from Azinam. It will also assume operatorship for the joint venture partners…
Israel's Delek Drilling expects a final investment decision this year on expanding exports from the Leviathan gas field using either an LNG facility in Egypt or a floating terminal, its CEO said on Monday. The offshore Leviathan project came…
Royal Dutch Shell is cutting the pace of its vast $25 billion share buyback program after lower oil and natural gas prices halved its profit in the last three months of 2019, sending its shares to their lowest since July 2017. While the Anglo…
Canadian international oil and gas production company Zenith Energy has established a Norwegian subsidiary - Zenith Norway - as a precursor to securing its first acreage off the country. Zenith said it intends to use Zenith Norway as a vehicle…
The first turbine at the 219-MW Northwester 2 offshore wind farm being built in Belgian waters has started exporting electricity to the country's power grid.The project will utilize 23 MHI Vestas 164-9.5 MW turbines – the most powerful turbines to enter commercial operation to date…
Oil and gas company Neptune Energy plans to speed up the process of making a discovery, cut exploration costs, and bring the oil finds online faster using a new digital subsurface program that will Neptune said the program's aim is to discover hydrocarbons 70% faster…
Brazilian oil company PetroRio has agreed to buy the OSX-3 FPSO for $140 million, and acquire an 80 percent stake in the Dommo Energia's Tubarao Martelo field off Brazil where the FPSO is currently deployed. The OSX-3 FPSO was built and delivered to the Tubarão Martelo Field in 2012…
U.S. oil and gas producer ConocoPhillips reported a lower-than-expected quarterly adjusted profit on Tuesday and boosted its share buyback program by $10 billion.Investors have made higher returns a key priority, pressing oil and gas drillers…
Algeria has definitely been excluded from Energean's pending acquisition of Edison E&P.The Greek oil and gas company in July last year agreed to buy Italy-based Edison's oil and gas subsidiary Edison Exploration & Production for an initial consideration of $750 million…
Oil prices slipped on Wednesday on concerns that the U.S./China Phase 1 trade deal may not provide much of a demand boost because the United States intends to keep tariffs on Chinese goods until a second phase deal. Prices were also under pressure…
The global provider of mobile satellite communications Inmarsat and the Panasonic Avionics Corp subsidiary ITC Global have announced a five-year strategic collaboration.The partnership enables the organisations to combine their highly complementary…
The Southeast Asian focused oil company Coro Energy will not be buying a share in the Bulu PSC, offshore Indonesia, citing increased risks around the Bulu project.'The company had in September 2018 agreed to buy a 42.5% interest in the shallow water (60m) block offshore East Java…
Mexico's state oil company, Petroleos Mexicanos, wants operational control over a major offshore oil area discovered by a consortium of private companies before development gets under way, its top official said on Wednesday.Pemex Chief Executive…
Brazil produced 1.018 billion barrels of oil in 2019, marking the first time the South American nation passed the billion-barrel mark for annual production, the national oil regulator said on Wednesday. In a statement, the regulator, known as the ANP…
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