Brazil's state-run oil company Petrobras said on Wednesday its board has approved the sale of its stake in the Albacora Leste oilfield to Petro Rio SA for $2.2 billion.The oil giant, formally known as Petroleo Brasileiro SA, said the sale was…
Norwegian independent oil company Aker BP reported its fifth consecutive record quarterly profit on Thursday as petroleum prices soared, and is preparing to ramp up gas deliveries to Europe, the company said on Thursday.Earnings before interest…
The Biden administration on Wednesday identified new areas for potential offshore wind development off the coasts of Oregon and several central Atlantic states, its latest step toward bolstering the nascent U.S. industry.Offshore wind is a key…
Exxon Mobil Corp said on Wednesday that its Russian unit Exxon Neftegas Ltd has declared force majeure for its Sakhalin-1 operations, where it has become increasingly difficult to ship crude out of due to sanctions on Russia.The Sakhalin-1 project…
Norwegian offshore seismic survey company Magseis Fairfield has secured more work in the U.S. Gulf of Mexico.Following the original 4D Ocean Bottom Node (OBN) survey in the US Gulf of Mexico, announced in November 2021, the company's client has now exercised an extension…
U.S. oil and gas producer Hess Corp reported a 65% rise in first-quarter profit on Wednesday, helped by a jump in energy prices due to Russia's invasion of Ukraine.Oil prices hit multi-year records during the quarter as the conflict in Ukraine led to sanctions against Russia…
Malaysian state energy firm Petronas is seeing growing demand for gas as the world lifts COVID-19 restrictions and prioritizes energy security due to Russia's invasion of Ukraine, its chief of upstream operations told Reuters on Wednesday.Petronas…
German climate activists turned off crude oil pipelines at five locations on Wednesday, demanding the country look for other ways to reduce its dependence on Russian gas than starting new fossil fuel-based infrastructure projects such as deep-sea drilling…
Irish floating wind platform developer Gazelle Wind Power (Gazelle) has signed a memorandum of understanding with the Austrian consulting firm Vienna Consulting Engineers ZT GmbH (VCE) to support its 2MW floating wind pilot project in the Canary Islands…
Oil and gas company Empyrean Energy said Wednesday that its Jade offshore well in China, for which the company had high hopes, had reached total depth without encountering hydrocarbons.After years of preparations, the company started drilling…
Jack-up drilling rig specialist Shelf Drilling has secured a three-year contract extension for the High Island V jack-up rig with Saudi Aramco.The contract for the rig of the Marathon LeTourneau 82-SD-C design will start in direct continuation of its current contract in the Arabian Gulf…
Norway's Vår Energi raised its annual dividend and posted a sharp rise in first-quarter profit on Wednesday, aided by a surge in oil and gas prices following Russia's invasion of Ukraine.Vår Energi, majority-owned by Italy's Eni, reported a pretax profit of $1…
Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn.The loss-making…
Exxon Mobil Corp on Tuesday said it found oil in three new wells drilled off the coast of Guyana, raising recoverable oil and gas potential from its discoveries to nearly 11 billion barrels.The discoveries continue a run of exploration successes that date to 2015…
Offshore drilling contractor Transocean said Monday it had recently secured offshore drilling contracts worth $87.2 million in total.In its quarterly fleet status report, the company said it had won contracts for Development Driller III, Discoverer Inspiration…
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