Oil prices jumped about 3% on Friday, hitting their highest levels in over a year, following a stronger-than-expected U.S. jobs report and decision by OPEC and its allies not to increase supply in April.Brent futures rose $2.10, or 3.2%, to $68…
China set a modest five-year growth target on Friday for its nuclear power generation capacity and promised quicker development of alternative energy sources as it seeks to cut its carbon footprint, but left its coal industry largely untouched…
Oil prices jumped more than $1 a barrel on Friday, hitting their highest levels in nearly 14 months, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic…
Brazilian oil and gas company PetroRio on Thursday said it had agreed to buy from Total a 28.6% stake in the Wahoo field, offshore Brazil.The field is located in the BM-C-30 Block, and the acquisition from Total, together with the interest in Wahoo PetroRio agreed to buy from BP…
Offshore oil and gas project commitments are expected to not only recover going forward, but their number is also set to reach a new record in the five-year period towards 2025 - cumulatively almost 600 projects - Rystad Energy, a Norwegian…
Norwegian oil company Equinor has with its partners decided to further develop the Asgard field in the Norwegian Sea, with an investment estimated at just under NOK 1.4 billion ($164,27 million).Equinor said the investment would see the implementation…
Jersey Oil and Gas, a UK-based company working to develop the Greater Buchan Area (GBA) oil production hub in the UK North Sea, on Wednesday said that the development concept for the project was selected, paving way for the farm-out process to start…
Malaysian FPSO company Bumi Armada posted a net profit of RM144.1 million (around $35,5 million) in the fourth quarter of 2020.Bumi Armada said the result was an improvement from the third quarter of 2020 when its net profit was RM85.6 million (USD 21…
ExxonMobil's global oil and gas reserves tumbled by a third last year as the COVID-19 pandemic slammed global oil prices and demand, the company said on Wednesday.The largest U.S. oil producer is reeling from the sharp decline in oil demand…
Brazilian oil giant Petrobras has signed a letter of intent with Dutch FPSO supplier SBM Offshore for the delivery of an FPSO to be deployed in the Búzios field in the Santos Basin, offshore Brazil.SBM Offshore will be responsible for the engineering…
OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic.The…
Romania-based Black Sea Oil & Gas (BSOG) will begin extracting natural gas from its $600 million offshore Romanian project in November, its chief executive said on Tuesday, but added further progress hinged on scrapping a disputed tax.The additional…
North Sea-focused oil company NEO Energy has struck a deal to buy ExxonMobil's UK North Sea assets, a month after it was announced the companies had started exclusive talks over a potential transaction.Backed by Norwegian private equity investor HitecVision…
UAE-based energy industry facilities construction company Lamprell has won a 'large' contract to deliver offshore facilities and subsea components for Saudi Aramco's giant Marjan field. Lamprell defines a 'large contract' as between $51 and $150 million…
Oilfield services giant TechnipFMC has secured more offshore oil and gas work with the oil and gas company Energean.After it in March 2018 received a $1.36 billion EPCI contract from Energean to supply an FPSO for the Tanin/Karish gas fields offshore Israel…
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