BP's profit more than tripled to $2.6 billion in the first quarter thanks to stronger oil prices and bumper revenue from natural gas trading, paving the way for the energy company to start buying back its shares.The jump in profits from a year…
State-run refiner Indian Oil Corporation (IOC) has made its first purchase of Norway's Johan Sverdrup crude, buying four million barrels via a tender as it speeds up diversification of crude imports, two trade sources told Reuters on Monday…
Orders for production floaters have bounced back over the past month driven by rising crude prices, according to Jim McCaul, head of offshore business intelligence firm World Energy Reports.McCaul bases his assessment on data in a new floating…
Shallow water drilling rig contractor Borr Drilling said Wednesday it had entered into agreements potentially adding a total of $48 million over approximately 590 days to its rig contract backlog.For the jack-up rig 'Natt' Borr Drilling has…
British North Sea-focused oil producer EnQuest is 'confident' it will secure a refinancing deal needed to buy an additional 10,000 barrels per day of output capacity, it said on Thursday, as it reported a 43% drop in free cash flow in 2020.Last month…
INEOS Energy on Thursday announced the sale of its oil and gas business in Norway to Poland's PGNiG for $615 million. The deal includes all INEOS Oil & Gas interests in production, licenses, fields, facilities and pipelines, on the Norwegian continental shelf…
India's Mangalore Refinery and Petrochemicals Ltd has bought its first-ever cargo of Brazilian Tupi crude oil in a tender, two industry sources said on Monday.The 1-million-barrel cargo was sold by Royal Dutch Shell for May delivery, he added…
Oil prices rose on Monday, with Brent reaching $70 a barrel, as data showed China's economic recovery accelerated at the start of 2021, boosting the energy demand outlook at the world's largest oil importer.Brent crude futures for May were steady at $69…
Offshore drilling company Borr Drilling expects growth in demand for modern jack-up drilling rigs, supported by higher oil prices coupled with the need to drill more to counter declines caused by years of underinvestment in the oil and gas industry…
The chief executive of Brazil's state-led oil company Petrobras is trying to fight off President Jair Bolsonaro's bid to oust him over his insistence on raising gasoline prices in line with international market hikes, two sources with direct knowledge of the matter told Reuters on Friday…
Offshore wind investments in the European Union and Britain in 2020 were more than double the level projected at the start of the year and should continue to grow in 2021, an industry group said on Wednesday.The record 26.3 billion euros ($31…
Brazil maritime services provider OceanPact Servicos Maritimos has concluded a 1.22 billion reais ($226.51 million) initial public offering, according to a securities filing on Wednesday.OceanPact priced the offer at 11.15 reais per share, at the bottom limit of the indicative range of up to 13…
UK-based oil company EnQuest has agreed to buy Canadian oil firm Suncor's entire 26.69% non-operated equity interest in the Golden Eagle area in the UK North Sea.The area, operated by China's CNOOC, comprises the producing Golden Eagle, Peregrine…
Two offshore drilling rigs, previously used for oil and gas exploration beneath the seabed, could soon help with space exploration.Namely, according to multiple reports this week, a company linked to billionaire Elon Musk bought two deepwater semi-submersible drilling rigs last year…
Australian oil and gas giant Woodside Energy has completed the acquisition of Cairn's stake in Senegal's Rufisque Offshore, Sangomar Offshore, and Sangomar Deep Offshore (RSSD) joint venture, developing the Sangomar offshore oil field.As previously reported…
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