U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 12th week in a row, although they added one oil rig in the first weekly increase since March as a recovery in crude prices tempt some producers back to the well pad…
A free webinar will deliver latest forecasts and market intelligence for the global floating production industry, offering insider access to business and investment opportunities in the deepwater sector.Floating Production Systems: 2020 Forecasts & Analysis…
Australia-listed Oil Search Ltd on Tuesday reported a near 30% drop in second-quarter revenue, hurt by a sharp decline in oil and gas prices as demand plunged due to the coronavirus pandemic.The Papua New Guinea-focused oil and gas explorer recorded a revenue of $266…
The chief executive of U.S. oil giant Chevron Corp on Monday said the uncertainty of the COVID-19 pandemic has it planning for 'choppy' oil prices and economic activity globally.Chevron said on Monday it would buy oil and gas producer Noble Energy Inc for about $5 billion in stock…
An oil production and storage vessel operated by Mexican state oil firm Pemex in the Gulf of Mexico has resumed crude shipments after a tanker collision halted exports earlier this month, according to a person with knowledge of the matter and data from Refinitiv Eikon…
Angola is resisting pressure by OPEC's de-facto leader Saudi Arabia for a steeper oil output cut to comply fully with record supply curbs, OPEC and industry sources said.The Organization of the Petroleum Exporting Countries and allies, known as OPEC+…
Brazil's oil industry expects a recovery in domestic demand in the next months driven by growing China imports, but the negative effects of COVID-19 are expected to last through the end of 2021, lobbying group IBP said in a note on Tuesday.Consumption could drop by more than 10%…
BP published its benchmark Statistical Review of World Energy for 2019 on Wednesday which showed that renewable power accounted for over 40% of the growth in primary energy.Here are some highlights from the report which can be downloaded here* Primary energy consumption rose by 1…
The Trump administration has approved 12 applications for reductions in royalty payments from offshore drilling companies reeling from reduced demand for fuel and battered prices, according to the agency that processes such requests.In an email…
Nigeria did not fully comply with a pact by oil producers to rein in output to balance markets but will make additional cuts to make up for the lapse, the head of the Nigerian National Petroleum Corporation Mele Kyari said on Wednesday.Nigeria…
Energy companies on Monday began preparations to resume oil and gas production in the U.S. Gulf of Mexico, a day after Tropical Storm Cristobal blew through with high winds and heavy rains.Producers had evacuated 182 offshore facilities and shut in about a third of oil and gas production in U…
OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market…
Brazilian federal court has ordered state-run oil company Petrobras SA to rename one of its biggest offshore oil fields currently named 'Lula', the special secretary of privatization at the Economy Ministry, Salim Mattar, said late on Wednesday…
Norwegian oil and gas investment, a key economic driver, is expected to decline sharply in 2021 after rising less than previously anticipated this year, an industry survey by the national statistics agency (SSB) showed on Thursday.The biggest…
Norway's government has further raised its projected 2020 spending from the country's sovereign wealth fund to 424.6 billion Norwegian crowns ($43.67 billion) from 419.6 billion seen on May 12, it said on Friday.The so-called structural non-oil deficit corresponds to 4…
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