Brazilian oil and gas company Petrobras has confirmed it has received bids for its Albacora and Albacora Leste offshore fields which could 'exceed US$4 billion for both fields.'Petrobras said that binding offers were submitted by the consortia…
Oil fell below $78 a barrel on Friday on the prospect that OPEC+ producers might step up a planned increase in output to ease supply concerns, although crude remained in sight of a three-year high reached this week.The Organization of the Petroleum Exporting Countries (OPEC) and allies…
Dutch marine and offshore services company Van Oord has ordered a new offshore wind turbine installation vessel that will be able to install next-generation wind turbines of up to 20MW. The vessel will be built by Yantai CIMC Raffles Shipyard in China…
Hurricane Ida's extensive and unexpectedly lingering disruption to output in the Gulf of Mexico has been the single most important factor contributing to the surge in oil prices over the last month.Damage to offshore installations has cut cumulative…
Swedish oil company Lundin Energy has started production from the Solveig oil field in the North Sea, offshore Norway.First oil from the field, developed as a subsea tie-back to the Edvard Grieg platform was achieved Thursday, The Solveig field…
Oilfield services giant Schlumberger and industrial software provider AVEVA have agreed to integrate edge, AI, and cloud digital solutions to help oil companies optimize oil and gas production. The companies said they'd collaborate together to streamline how energy operators acquire…
INEOS Energy has completed the $615 million sale of its oil and gas business in Norway to Poland's PGNiG.The deal, first announced in March 2021, includes all INEOS Oil & Gas interests in production, licenses, fields, facilities, and pipelines…
Oil and gas company Rockhopper Exploration on Thursday affirmed its intention to press ahead with the development of the Sea Lion offshore oil field in the Falkland Islands, a week after its partner decided to pull out.Rockhopper Exploration…
Chinese oil and gas firm CNOOC Ltd wants to exercise an option and acquire an additional 5% stake in production rights for the Buzios oilfield for $2.08 billion, the oilfield's owner, Brazil's Petrobras, said on Wednesday.Petroleo Brasileiro SA…
Hurricane Energy, the operator of the Lancaster field west of Shetland, has said that the annual output from the field would be at the upper end of the 8,500 - 10,500 bopd guidance.The company issued output guidance on Wednesday, taking into…
Norway's Socialist Left Party said on Wednesday it had pulled out of talks to form a majority coalition government following this month's election, a move likely to lead to the formation of a minority centre-left administration.Labour, the Centre…
Brazilian oil firm Enauta has said production from the Manati offshore field in Brazil was stopped preventively on Monday due to small gas leakage in the inland pipeline between the compression station and the gas treatment station. 'The operator is assessing the causes of this incident…
Oil major BP on Tuesday announced the start-up of its Thunder Horse South Expansion Phase 2 project in the U.S. Gulf of Mexico.The second phase is expected to increase output at one of the largest fields in the Gulf of Mexico, with peak annual average gross production of 25…
Oil markets climbed for a sixth day on Tuesday, boosted by a tighter supply and firm demand outlook, but power shortages in China which hit factory output tempered the rally.Brent crude futures gained 67 cents, or 0.8%, to $80.20 a barrel at 1016 GMT…
Oil and gas company Jadestone Energy has tied the Montara H6 development well off Australia into the field facilities and the well has started production.Jadestone is the 100% owner and operator of the Montara field, located in Production Licences AC/L7 and AC/L8 in the Timor Sea…