Norway's Aker BP fell short of its third-quarter oil and gas output target and will take an impairment charge of $80 million, it said on Monday, sending its shares down more than 4%.Daily output fell to 146,100 barrels of oil equivalents per day (boepd) in the July-September quarter period from 150…
Partners Spirit Energy and Dana Petroleum will invest £140 million ($177 million) to extend the life of the Chestnut field in the UK North Sea by as much as three years.The companies announced on Friday that they reached a deal with Teekay to…
BP said on Friday it would shut down its West Chirag platform in Azerbaijan for 15 days starting on Oct. 15 for planned maintenance.'In accordance with the plan, production from the West Chirag platform will be suspended on 15 October for about 15 days to enable efficient maintenance…
Fance's Total SA, the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for November 6 of the so-called Transfer of Rights area in Brazil's pre-salt region.The company's chief executive officer…
Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a 'transfer of rights' (TOR) area off the country's southeastern coast.The government expects to raise 106 billion reais ($25…
Exxon Mobil Corp has appointed Bank of America Merrill Lynch to run the sale of its Malaysian oil and gas assets as the U.S. firm accelerates a vast disposal program, banking and industry sources said.The Malaysian assets, which include stakes in two large fields…
As the oil and gas industry increasingly automates functions, one service company has focused on changing the focus from dumb iron to the cloud.Weatherford’s vision is to take its range of production tools and technologies to the next level by bringing them together with the basics of Industry 4…
Production has commenced from the giant Johan Sverdrup field in the Norwegian North Sea, operator Equinor announced on Saturday.The largest development in Norway for three decades, the mega project has started up more than two months ahead of and NOK 40 billion ($4…
China's CNOOC shut down the 150,000 barrel per day Buzzard oilfield in the British North Sea to repair pipework on the platform, a spokesman said on Friday.Buzzard plays a role in global oil pricing as it is the main contributor to the Forties crude stream…
Operator Shell and its partner Ithaca Energy have taken final investment decision (FID) to upgrade the Pierce oilfield in the UK North Sea so that it can produce natural gas, Shell said on Thursday.The depressurization project involves modifying the existing floating production…
Brazil's oil production in August reached 2.989 million barrels per day, up 18.5% over the same month a year ago, as monthly output hit a record high, oil regulator ANP said on Wednesday.Brazilian natural gas production in August rose 25.3% from a year ago to 133…
Norway's $1.1 trillion sovereign fund will divest companies solely dedicated to oil and gas exploration and production in a bid to shield itself from a long-term fall in oil prices, the finance ministry said late on Tuesday.The move will partly…
Norwegian authorities have given operator Aker BP the go-ahead to start up the Valhall West Flank facility in the North Sea this autumn.West Flank, a further development of the Valhall field, is an unmanned facility with 12 well slots, and it…
Aberdeen-based oil and gas production technology business Pragma said it has developed an advanced downhole safety valve to create an improved well control solution for cable deployed Electric Submersible Pumps (ESPs) retrofitted to production wells…
Total has completed the acquisition of Anadarko's 26.5% stake in Mozambique's liquefied natural gas (LNG) project for $3.9 billion, the French oil major said on Monday.'Mozambique LNG is a one of a kind asset that perfectly fits with our strategy and expands our position in liquefied natural gas…