Petrobras has agreed to acquire a 50% interest in the Itaimbezinho exploration block in the Campos Basin offshore Brazil from Equinor.Equinor currently holds a 100% stake in the block. Upon completion of the transaction, the consortium will consist of Equinor as operator with a 50% interest, Petrobras with 50%, and Pré-Sal Petróleo S.A. (PPSA) as manager of the production sharing contract.Petrobras…
Britain has offered grid connections to more than 700 projects, the country's power planning body said on Wednesday, under a reformed allocation system expected to help unlock up to £40 billion in annual clean power investment.The allocations follow recent reforms replacing a 'first come…
Egypt's Minister of Petroleum and Mineral Resources said on Wednesday that the full settlement of arrears owed to oil and gas partners marked a turning point for the sector.Badawi added that the achievement, which reduced arrears to zero from about $6…
Oil prices were steady on Wednesday, as renewed U.S.-Iran hostilities muddied direction, though a forecast U.S. stock draw offered support.Brent futures LCOc1 were up 25 cents, or 0.27%, to $91.70 a barrel at 0736 GMT, while U.S. West Texas Intermediate crude CLc1 was up 23 cents…
Abu Dhabi National Oil Company is exploring opportunities in Canada's upstream and liquefied natural gas sectors through its international arm XRG, a senior company executive said on Tuesday at the Global Energy Show in Calgary.Musabbeh Al Kaabi…
Norway's parliament on Tuesday ordered the government to review its planned subsidy for the country's first commercial floating offshore wind farm, raising concerns of a full development stop and a wider impact on energy transition projects…
BP has set out plans to reorganize its operations into two business segments from July 1, simplifying its organizational structure as part of efforts to improve performance and increase shareholder value.The company said it will replace its…
T12 Engineering has completed the assembly and shipment of a 60-tonne gravity-based subsea structure destined for offshore installation in Norway.The structure, designed for an independent Norwegian oil and gas operator, departed from the Port…
Viridien and Aker BP have entered into a five-year strategic partnership agreement to strengthen collaboration on multi-client ocean bottom node (OBN) seismic acquisition, imaging and technology development for exploration on the Norwegian Continental Shelf…
Norway's Hammerfest LNG export terminal on Monday postponed the start of a planned annual maintenance outage until June 13, a spokesperson for operator Equinor said.Europe's largest export terminal for liquefied natural gas has a daily processing capacity of 18…
Oil prices fell on Tuesday, erasing most of the previous session's gains, after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, though both sides warned they could resume hostilities…
IKM Ocean Design has been awarded a front-end engineering and design (FEED) contract by Equinor for the Atlantis pipeline system, advancing plans for development of the Atlantis gas and condensate discovery in the Norwegian North Sea.Atlantis…
Aker BP has increased its ownership interest in the Johan Sverdrup oil field, following the completion of a redetermination process conducted under the field's unit agreement.Aker BP's ownership interest in the Johan Sverdrup Unit will rise to 31…
Eni and Petronas have officially established Searah, a new 50/50 joint venture combining selected businesses across Indonesia and Malaysia, creating what has been described as Southeast Asia's largest independent integrated energy company.The…
Norway's Hammerfest LNG export terminal halted production on Monday for three days of planned annual maintenance, a spokesperson for operator Equinor said.Europe's largest export terminal for liquefied natural gas (LNG) has a daily processing capacity of 18…
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