U.S. crude inventory declined last week. The latest weekly survey results by the U.S. Energy Information Administration (EIA) indicate a fall of 7.3 million barrels in the week ended November 30. This follows a 10-week streak of crude inventory…
Norwegian subsidiary of Italian oil company Eni Norge AS and Stavanger shipping company Simon Møkster Shipping cut fuel consumption on the vessel Stril Barents in the Goliat field.According to a press release from the Norwegean offshore vessel owner…
Brazil's right-wing President-elect Jair Bolsonaro is likely to revise the just-announced investment plans of state-controlled oil company Petroleo Brasileiro SA, newspaper O Estado de S. Paulo reported on Thursday, citing an unnamed source…
Neptune Energy and its partners in the North Sea Cara oil and gas discovery have presented preliminary development plans to Norway's energy ministry, the company said on Thursday.'The licence partnership will now progress its technical and economic…
OPEC agreed on Thursday a tentative deal to cut oil output but has not yet come up with a final figure, an OPEC delegate said.Saudi Energy Minister Khalid al-Falih said earlier that the Organization of the Petroleum Exporting Countries needed non-OPEC Russia to come on board with cuts…
Apache Corporation announced it has begun producing from its Garten development on Block 9/18a Area-W in the U.K. sector of the North Sea, ahead of the initial target of first-quarter 2019. The discovery well, which is located 6 kilometers south of the Beryl Alpha Platform…
Brazilian state-run oil company Petroleo Brasileiro SA plans to raise some $26.9 billion via asset sales and partnerships by 2023 while boosting investments on the front edge of an anticipated production boom in Brazil.Petrobras intends to make $84…
Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday.'We continue to progress Prelude towards operations, with safety and quality being our main focus…
Norway's Equinor is ready to start talks with Tanzania on developing a liquefied natural gas (LNG) project based on a deepwater offshore discovery, the company said on Tuesday.Tanzanian President John Magufuli has asked his government to proceed…
Murphy Oil Corporation announced that it has closed its previously announced deal to form a Gulf of Mexico joint venture with Petrobras.The global independent oil and natural gas exploration and production company said in a press release that its wholly owned subsidiary…
American global independent energy company Hess Corporation announced a tenth discovery offshore Guyana at the Pluma-1 well on the Stabroek Block.The company engaged in the exploration and production of crude oil and natural gas said that as…
United Kingdom-based petroleum exploration and production company Enquest said it had completed the acquisition of the remaining 75% stake in Magnus, an additional 9.0% stake in the Sullom Voe Oil terminal and supply facility and additional interests in associated infrastructure from BP…
Following years in the pricing doldrums, LNG is hot again, with business prospects for floating production and regasification looking strong through 2023. We talk to Jim McCaul of International Maritime Associates (IMA) for his insights, as…
Royal Dutch Shell caved in to growing investor pressure over climate change on Monday with plans to set short-term targets for reducing its carbon footprint.BP and Total have already set short-term targets, but Shell Chief Executive Officer Ben van Beurden had previously resisted setting hard goals…
Qatar said on Monday it was quitting OPEC from January to focus on its gas ambitions, taking a swipe at the group's de facto leader Saudi Arabia and marring efforts to show unity before this week's meeting of exporters to tackle an oil price slide…