Equinor has suspended its 2020 oil and gas output guidance amid government-imposed curtailments and a glut of supply, and could take further action to scale back activity this year, the Norwegian energy firm said on Thursday.With operations from the North Sea to Africa…
Aker BP will cut its quarterly dividend payments by two-thirds due to the COVID-19 pandemic and the plunge in crude prices, the Norwegian oil firm said on Wednesday after reporting a better-than-expected first-quarter core profit.Earnings before interest…
Bursa Malaysia-listed oil and gas firm Hibiscus Petroleum has signed agreements with global oil trader Trafigura for crude offtake and for future financing.The agreements include potential future offtake of crude oil by Trafigura from assets owned/projects undertaken by Hibiscus…
French energy major Total promised to pay a steady cash dividend and said it can break even with low oil prices after the impact of the coronavirus outbreak and a collapse in fuel demand led to a 35% first-quarter profit fall.It also raised its climate ambitions…
Oil prices jumped again on Tuesday on hopes for a recovery in vehicle traffic and fuel demand as some European and Asian countries along with several U.S. states began to ease coronavirus lockdown measures.West Texas Intermediate (WTI) crude futures were 7…
Oil and gas output from some of the world's top oil companies is set to drop by nearly 11% in the second quarter of 2020 to levels not seen in at least 17 years, according to Reuters calculations. The output cuts are driven by an unprecedented…
Brazil produced 2.973 million barrels per day of oil in March, up 0.1% from February and up 16.1% from the same month a year before, national oil regulator ANP said on Monday.The figures suggest that production cuts announced at the end of March…
Guyana has no plans to cut crude output despite a plunge in oil prices, the government's top energy official said on Monday, adding that shutting down production could prove costly and harm future output.Mark Bynoe, the director of the Department of Energy…
Brazilian oil firm Petrobras is looking for a buyer for its entire stake in the Manati field, in the Camamu Basin, in the State of Bahia.The company on Monday started the opportunity disclosure stage for the stake sale in the shallow water field…
Brazilian state-owned oil giant Petrobras said on Monday it exported a record 1 million barrels of oil a day in April, beating the previous record of 771,000 barrels a day in December last year.In a securities filing, Petroleo Brasileiro SA…
UK-focused oil company Independent Oil and Gas (IOG) has informed that its field development plan for Core Project Phase 1 in the UK North Sea has been approved by the UK Oil and Gas Authority.The Core Project comprises gas resources across six discovered UK Southern North Sea ('SNS') gas fields…
Acteon Group subsidiaries MENCK and LM Handling have won a contract to support piling operations for a platform installation off the coast of Trinidad and Tobago. Subsea services firm Acteon said that the Trinidad and Tobago project would draw…
Flow assurance can keep offshore wells productive, and it requires successfully preventing or mitigating problems in the reservoir, the subsea flowlines and the topsides equipment.To prevent flow assurance problems, it’s necessary to identify potential issues…
Chevron Corp on Friday slashed its capital spending plans by another $2 billion as the coronavirus pandemic guts demand for oil and gas, while delivering a year-over-year 38% increase in profits.Global fuel demand has crashed by a third while many people shelter at home for an indefinite period…
Exxon Mobil Corp on Friday posted its first quarterly loss in three decades on plunging oil demand and collapsing prices, reporting a $610 million quarterly deficit after a nearly $3 billion inventory writedown.Global fuel demand has tumbled…
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