BP and ENI have confirmed that Azule Energy, a new 50/50 independent joint venture combining the two companies’ Angolan businesses, has been officially established. Azule Energy is now Angola’s largest independent equity producer of oil and gas…
Offshore drilling contractor Valaris on Wednesday announced that Chris Weber has commenced his role as senior vice president and chief financial officer, having been appointed to the role in late May.Weber previously served as CFO of LUFKIN Industries…
Wind turbine maker Siemens Gamesa is considering cutting around 2,500 jobs, or about 9% of its total, to recover from losses that have prompted its main shareholder to launch a takeover, two people familiar with the matter told Reuters.The cuts would reduce a workforce of some 27…
Shell on Thursday reported a second quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading.The company also announced a share buyback program of $6 billion for the current quarter…
Seaway 7 announced that it won a 'sizeable' [between $50-150m] contract for the transport and installation of inner-array grid cables on an offshore wind farm project in the U.S.The scope includes the transport and installation of around 160…
A third man convicted in Britain over how oil contracts were secured in post-occupation Iraq has had his conviction overturned by a London court, further unraveling a high-profile bribery case prosecuted by the UK Serious Fraud Office (SFO)…
Shell Plc on Wednesday told workers at its Prelude floating liquefied natural gas (FLNG) facility it would stop paying them as of Monday after they extended industrial action for two more weeks over a long-running wage dispute.Shell last week began shutting down the 3…
Farhat Bengdara, who was declared chairman of Libya's National Oil Corp last week by the Government of National Unity in Tripoli, said his appointment did not change the company's legal position after its validity was challenged.'I am aware…
Malaysia's state energy firm Petronas said it was taking steps to protect the legal position of all its global assets after two Luxembourg-based subsidiaries were served with a seizure notice last week over a dispute with the heirs of a late sultan…
Oil and gas company APA Corporation has elected Lamar McKay as the next chairman of the board. McKay's election follows the announcement by current chairman John E. Lowe of his decision to retire. Following a transition period, the change will be effective Sept…
Shell is considering boosting shareholder returns on the back of bumper profits from soaring energy prices, while the extra cash will also help it shift more swiftly towards renewables and low-carbon energy, the chief executive said on Thursday…
Wartsila will scale down its manufacturing in Trieste, Italy, in a move that might involve about 450 job cuts, the Finnish engineering group said on Thursday.Wartsila said it plans to centralize its 4-stroke engine manufacturing in Vaasa, Finland…
The head of Libya's National Oil Corp (NOC) on Wednesday rejected the prime minister's authority to sack him, raising the prospect of an open struggle for control of the state energy producer.In a furious televised speech, Mustafa Sanalla said…
UK-based North Sea Transition Authority (NSTA), a government body responsible for regulating and influencing the oil, gas, and carbon storage industries, appointed Stuart Payne as its new Chief Executive.Payne, who currently serves as NSTA Supply Chain…
Shell on Monday told customers it would be unable to supply liquefied natural gas (LNG) cargoes from its Prelude facility off northwestern Australia due to industrial action over a pay fight, which has been extended to July 21.Shell has stopped…
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