India's D1 D3 offshore gas field, the country's first deepwater gas development to be brought online, has ceased production, Reliance and BP joint venture said Monday.The field, in Block KG D6 (KG-DWN-98/3), off the east coast of India, started producing gas in April 2009…
Brazilian oil company PetroRio has agreed to buy the OSX-3 FPSO for $140 million, and acquire an 80 percent stake in the Dommo Energia's Tubarao Martelo field off Brazil where the FPSO is currently deployed. The OSX-3 FPSO was built and delivered to the Tubarão Martelo Field in 2012…
Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of hydrocarbons and rare earth minerals.Warming temperatures in the…
Brazil's Petrobras has launched a teaser for the sale of its entire share in the Papa Terra field, 110 kilometers from the coast offshore Brazil.The Brazilian oil company said that the planned sale of the field was in line with its portfolio optimization and improvement of capital allocation…
U.S. engineering and construction giant KBR has won what it says is 'a major Project Management Consultancy (PMC) services contract' with the UAE-based oil company ADNOC.KBR said Monday that the contract was related to the Ghasha Concession portfolio of projects…
A report by a nonprofit watchdog group critical of Exxon Mobil Corp's oil contract with Guyana has rekindled a debate over whether the deal is too generous to the company, just a month before a crucial presidential election.In a report published Monday…
Israel's Delek Drilling expects a final investment decision this year on expanding exports from the Leviathan gas field using either an LNG facility in Egypt or a floating terminal, its CEO said on Monday. The offshore Leviathan project came…
The U.S. government is ready to help Brazil design more effective oil auctions, the U.S. secretary of energy said on Sunday, after the South American nation's attempt to sell tens of billions of dollars of production rights to private firms last year largely flopped…
Greek oil company Energean has said that its Karish development in the Mediterranean Sea off Israel is on track for first production in the first half of 2021. Energean has previously said that the first gas is expected to start flowing in the first quarter of 2021…
U.S. oil major Chevron slumped to a $6.6 billion quarterly loss compared to 4Q 2019 $3.7 billion profit, citing previously announced impairments on several projects.'Included in the [4Q 2019] were previously announced upstream impairments and write-offs totaling $10…
Exxon Mobil Corp reported a 5.2% drop in fourth-quarter profit on Friday, as assets sales propped up flat year-over-year oil and gas output and weakness in its refining and chemicals businesses.Oil companies last quarter suffered from weaker prices for their products…
Sweden's Lundin Petroleum, a partner in Norway's giant Sverdrup oilfield, raised its dividend payment and output expectations on Friday after beating fourth-quarter profit forecasts.Earnings before interest, tax, depreciation, and amortization (EBITDA) rose to $695…
Total's UK subsidiary has selected PBS, a recently formed consortium in Aberdeen, to provide general maintenance of all its operated oil and gas assets in the UK.'This new contract will bring together previous separate contracts for Total E&P UK’s sites…
U.S. Congressman A. Donald McEachin, a Democratic representative from Virginia, has introduced legislation that would require offshore oil and gas operators to report failures of critical safety systems directly to the Secretary of the Interior…
Japanese companies MODEC, Mitsui, MOL, and Marubeni will jointly invest in the Petrobras-bound Marlim FPSO.MODEC in October 2019 received a letter of intent from Petrobras for the supply, charter, and operations of the Marlim-1 FPSO.Now Mitsui…