U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.Those two companies produce…
The UK Oil & Gas Authority (OGA) has made significant headway on projects aiming to support the energy transition alongside the core role of maximizing economic recovery of UK oil and gas, and it has now taken these efforts a step further.The OGA announced this week it has secured a £900…
Mexico's deputy finance minister said on Thursday the government was considering using part of a $15.4 billion public income stabilization fund to pay some debt obligations for heavily leveraged state oil company Pemex.The finance ministry is…
The planned restructuring of Nigeria National Petroleum Corporation (NNPC) joint operating agreements with multinational oil companies could help not only in raising substantial financial gains to support the country's national budget but also…
London-listed Ophir Energy Plc said on Wednesday it agreed to be bought by Indonesian oil and gas group Medco for a sweetened cash bid of 408.4 million pounds ($539 million) after previously agreeing to a lower offer.Under the terms, Ophir shareholders will receive 57…
BASF's oil and gas subsidiary Wintershall on Thursday said it would build up its presence in the Brazilian offshore oil sector this year where it won exploration licences in 2018.'It is part of our growth course that we are also active in new regions…
The Trump administration will hold its fourth major auction for oil and gas leases in the U.S. Gulf of Mexico on Wednesday, in a fresh test of demand from drillers that have lately been shying away from the region.The outcome of the lease sale…
Norway's regulations allowing oil and gas companies to claim refunds for exploration spending do not constitute state aid, the European Free Trade Association Surveillance Authority (ESA) said on Wednesday.'Having scrutinized it on the basis of a comprehensive complaint…
The Brazilian government is likely to pay around $10 billion to state-run oil firm Petroleo Brasileiro SA to settle the so-called 'transfer-of-rights' dispute, newspaper Valor Economico reported on Tuesday, though the parties have not agreed on final terms…
Oil prices rose to new 2019 highs on Tuesday, supported by OPEC supply cuts and falling output from Iran and Venezuela because of U.S. sanctions.Brent crude oil futures were up 16 cents at $67.70 a barrel at 1415 GMT, having earlier risen to a 2019 peak of $68…
Mexico's national oil company Pemex plans to triple the number of wells it will drill this year, the company's chief executive said on Monday, in a bid to grow crude output and reverse more than a decade of declining production.The government…
Hurricane Energy's floating production, storage and offloading (FPSO) vessel has been connected to the group's North Sea Lancaster oilfield, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.Hurricane…
The chief executive of Mexican state oil company Pemex on Monday questioned credit agency downgrades to the firm's debt, saying the same agencies had not acted when the company's investment and oil exploration activity diminished under past governments…
Oil edged further above $67 a barrel on Monday, supported by the prospect of prolonged OPEC-led oil supply curbs though concern that an economic downturn may dent fuel consumption curbed gains.OPEC and non-OPEC ministers who met in Azerbaijan…
A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics.Present: top U.S. diplomat Mike Pompeo. Absent: leading Saudi and Russian officials…