Oil prices were steady on Monday, holding on to strong gains last week, after Russia affirmed its commitment to a deal with OPEC producers to keep production in check and support prices.Brent crude was down 1 cent at $62.01 a barrel by 0055 GMT…
State-run Korea National Oil Corp (KNOC) has scaled back efforts to pull out of the British North Sea, focusing on the sale of its stake in the Tolmount gas project, three industry sources said.Heavily indebted KNOC earlier this year tried to…
Africa-focused oil and gas explorer FAR Ltd said on Thursday that its two offshore blocks in the Gambia could potentially hold 1.2 billion barrels of oil.FAR, which operates and owns 50% of the two offshore licences, said it was entitled to…
CNOOC Ltd, the listed arm of China's largest offshore oil and gas producer, on Thursday reported a 27.9% jump in capital spending in the third quarter amid Beijing's push to boost oil and gas exploration and production.Capital expenditure at CNOOC reached 19…
Equinor's third-quarter profit fell by more than expected on Thursday after a significant decline in the volume and price of natural gas sold to Europe, although the Norwegian firm reiterated its forecast for flat 2019 production.Shares in Oslo-listed Equinor were up 2…
CNOOC, China's largest offshore oil and gas producer, on Thursday said it would be affected by U.S. sanctions on its COSCO shipping firm but there would be no impact on its oil and gas production.'(The sanctions) will have some impact on our…
GlobalData revealed that a total of 38 oil and gas discoveries were made globally in Q3 2019.South America and Europe led globally with the highest number of oil and gas discoveries during the third quarter (Q3) of 2019, with eight discoveries each during the quarter…
Aker BP ASA cut its full-year oil output target on Tuesday as production problems at the oil explorer's Valhall field in the North Sea offset a boost from the early opening of its Johan Sverdrup field in Norway.The company, jointly controlled…
Brazilian state-run oil firm Petroleo Brasileiro SA posted a significant production boost in the third quarter, as heavy investments in its deepwater, pre-salt zone showed signs of paying off.Investors and analysts have been watching the firm's production figures closely in recent quarters…
Royal Dutch Shell is aiming to start operating in its concession areas in Egypt in the second half of 2020, a senior executive said.Shell won three oil and two gas concessions in Egypt in February.Eni, BP and ExxonMobil also won some of a total…
Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area…
PGNiG announced it has made a discovery in the Shrek prospect in the Norwegian Sea, about 210 kilometers northwest of Brønnøysund.Based to preliminary estimates, recoverable resources range between 19 million and 38 million barrels of oil equivalent (boe)…
Israel-focused Energean Oil & Gas Plc on Monday agreed to sell Edison E&P North Sea assets to Neptune Energy Group for up to $280 million, as part of an ongoing plan to sell non-core assets.Energean, which is focused in the Mediterranean, will…
Norway's Aker BP fell short of its third-quarter oil and gas output target and will take an impairment charge of $80 million, it said on Monday, sending its shares down more than 4%.Daily output fell to 146,100 barrels of oil equivalents per day (boepd) in the July-September quarter period from 150…
Equinor and the Snorre and Gullfaks partners have made a final investment decision (FID) for the Hywind Tampen offshore wind farm development and will submit updated plans for development and operation to Norwegian authorities.The oil and gas…
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