Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.Washington said it will eliminate in May all…
1000 km of the Nord Stream 2 pipeline has now been laid in the Baltic Sea in Finnish, Swedish and German waters.Two Allseas pipelay vessels - Pioneering Spirit and Solitaire - are currently installing the pipeline in Swedish waters.Some twenty…
One of the key Russian officials to foster a supply pact with OPEC, Kirill Dmitriev, signaled on Monday Russia wanted to raise oil output when it meets with OPEC in June because of improving market conditions and falling stockpiles.Dmitriev…
Currently one in every five barrels produced in the United States comes from the Gulf of Mexico (GoM), and 88% of that output flows from reservoirs in water depths greater than 500 feet.In 2016 the GoM produced 575 million barrels of oil, and in 2017 621 million barrels…
Germany's largest crude oil and natural gas producer Wintershall won the bidding process for two blocks in the promising Malvinas Basin off the coast of Tierra del Fuego as part of the “Costa Afuera” licensing round.In addition to the CMA-1 exploitation concession…
Chrysaor has reached a deal to acquire ConocoPhillips’ oil and gas exploration and production assets in the UK for $2.675 billion, the companies announced on Thursday.Full-year 2018 production and year-end 2018 proved reserves associated with the assets being sold were approximately 72…
Norwegian oil company Okea, partly owned by Thailand's Bangchak Corporation and private equity firm Seacrest Capital, announced plans on Thursday for an initial public offering on the Oslo stock exchange this year.Okea said it had hired investment banks Pareto Securities…
ABB Chief Executive Ulrich Spiesshofer has quit the Swiss industrial group as the board and major shareholders look for a speedier turnaround at the maker of industrial robots and supplier of factory automation.Spiesshofer’s abrupt exit follows…
Oil prices rose to a five-month high on Monday, driven by expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and U.S. sanctions against Iran and Venezuela.International benchmark Brent futures rose 74 cents…
Norwegian offshore service and supply ship Shipping company Solstad Offshore has signed a contract with Brasil Petroleo Ltda (Shell) for the platform supply vessel (PSV) Normand Starling.The Skudeneshavn-headquartered company said in a press…
Chevron Corp on Friday said it will buy oil and gas producer Anadarko Petroleum Corp for $33 billion in cash and stock in a deal that doubles down on its bet on U.S. shale and LNG as U.S. energy production is shattering records.The deal makes Chevron the second-largest major by crude production…
TechnipFMC said on Tuesday it has secured a contract to supply flexible pipes for oil production, gas lift and gas injection as well as associated accessories for the Lapa field, located in the pre-salt Santos Basin, under the BM-S-9A concession…
Bourbon Marine & Logistics said on Thursday it has been awarded a contract from Shell to support the oil major's exploration drilling in the Black Sea offshore Bulgaria.The French services company said its project scope covers the full logistics solution project management…
Engineering, construction and services company Subsea 7 announced on Friday it has been awarded a contract by Shell for the Arran gas field development, located approximately 240 kilometers east of Aberdeen in the UK North Sea.Subsea 7 said…
The collapse of the regime of former Sudanese President Omar al-Bashir is likely to jolt the country's oil sector and could leave in disarray earlier approved plans to open up the country's offshore blocks in the Red Sea basin for exploration…
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