Pressured by strict U.S. sanctions, Venezuela's oil exports plunged by 376,500 barrels per day (bpd) in 2020, according to Refinitiv Eikon data and internal documents from state-run PDVSA, financially squeezing socialist President Nicolas Maduro…
Royal Dutch Shell on Monday said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook.In an update ahead of its fourth-quarter results on February 4…
A Total-led international consortium of oil and gas companies has signed an exploration and production agreement for the North Ras Kanayis offshore block located in the Herodotus Basin, offshore Egypt in the Mediterranean Sea.France-based Total is the operator with a 35% stake…
Swiss-based digital twin technology has signed a three-year Enterprise Framework Agreement (EFA) with Shell for the use of its structural digital twin technology.'The EFA will see Akselos become one of the global energy company’s verified suppliers for structural integrity assessments…
Economic recovery. Climate change. Racial equity. COVID-19. These four issues are at the core of President-elect Joe Biden’s Day 1 priorities. Separately, each issue seems like a monumental challenge with no easy solution. But there is a path…
Norwegian energy services company Aker Solutions has won a letter of intent with Shell in Norway for work on the Ormen Lange Phase 3 (OLP3) onshore project. Ormen Lange is a field in the Norwegian Sea.Under the scope of the letter of intent…
Global crude prices slipped on Thursday and lost more than a fifth of their value in volatile trade in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and slammed fuel demand.Still, Brent and U.S. crude benchmarks have more than doubled from April's decade lows…
Oil giant Shell has extended the contract for the lease of SBM Offshore's Espirito Santo FPSO in Brazil. SBM Offshore is also in talks with ExxonMobil to extend the FPSO terms in Guyana.The Dutch FPSO operator said Wednesday that the lease and…
Russia has resumed construction of the politically-charged Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus prompted by U.S. sanctions, the pipeline operator said on Friday.An alleged nerve agent attack on Kremlin…
A Russian pipe-laying vessel, Fortuna, has arrived at the construction site of the Nord Stream 2 gas pipeline in the Baltic Sea, Refinitiv Eikon data showed on Friday, with work on the project set to resume.There are also several procurement vessels near the site…
The United States is urging European allies and private companies to halt work that could help build the Nord Stream 2 natural gas pipeline and is preparing wider sanctions on the Russian project in coming weeks, senior Trump administration officials said on Wednesday…
Ocean energy technology developer Ocean Power Technologies's stockholders have appointed Clyde W. Hewlett, Diana G. Purcel, and Peter E. Slaiby to its Board of Directors.Terence J. Cryan, Chairman of the Board of OPT, a company that builds buoys that harvest and store wave energy…
London-listed oil and gas company Kosmos Energy has partially completed the previously announced sale of its frontier offshore oil and gas exploration assets to Shell, with the South Africa transaction expected to complete in 2021.Under the agreement first announced in September…
The North Sea could be switched from a depleting oil and gas basin to a site for storing carbon dioxide under the seabed, Total CEO Patrick Pouyanne said on Tuesday.The French oil firm is one of the partners in the Northern Lights project, which…
Russia's Nord Stream 2 said on Saturday it planned to resume pipe-laying work on a 2.6 kilometer (1.62 mile) stretch of the stalled Moscow-backed gas pipeline to Europe in Germany's Exclusive Economic Zone.The 1,230 km pipeline under the Baltic Sea…
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