Oil rebounded by more than 5% on Monday to above $76 a barrel as some investors viewed Friday's slump in oil and financial markets on concern about the Omicron coronavirus variant as overdone.Top officials from the Organization of the Petroleum Exporting Countries and its allies…
Norwegian oil and gas company Equinor has agreed to sell its stake in the Corrib offshore gas project in Ireland to Vermilion Energy.The transaction is organized through a share sale of Equinor Energy Ireland Limited, a company 100% owned by Equinor ASA…
Morgan Stanley on Monday cut its first quarter 2022 Brent crude price forecast to $82.50 per barrel from $95 on market expectations that the Omicron coronavirus variant could turn into a major headwind for oil demand.The market appears to be…
Asian oil refiners' margins have slumped to the lowest in nearly five months amid worries that the Omicron coronavirus variant could deal another blow to oil demand recovery, already hit by rising COVID-19 cases in Europe.Governments worldwide…
Chinese oil and gas company CNOOC has started production from the Buzzard Phase II development in the UK North Sea.Buzzard Phase II sits around 100 kilometers northeast of Aberdeen, Scotland, with an average water depth of approximately 96 meters…
Lebanon re-launched a second offshore oil and gas licensing round for eight remaining blocks on Friday, with the deadline for submission of bids set for June 15, 2022, the Lebanese Petroleum Administration said on its website.The round was initially…
Oil and gas company Neptune Energy hosted Norway’s recently appointed Minister of Petroleum and Energy, Marte Mjøs Persen, and senior industry figures at the official opening of the Neptune-operated Gjøa P1 and Duva fields in the Norwegian North Sea…
Serica Energy, an oil and gas company focused on the UK North Sea, has announced that the first production has been achieved from its Columbus offshore field.The Columbus field area is located 35km northeast of Shell's Shearwater production platform…
Norwegian oil and gas company Equinor has with its partners, submitted an amended plan for development and operation (PDO) to the minister of petroleum and energy Marte Mjøs Persen for the further development of the Oseberg field, with an increased focus on gas production…
Brent slid nearly 4% to below $80 a barrel on Friday as a new COVID-19 variant spooked investors, adding to concerns that a global supply surplus could swell in the first quarter following the release of crude reserves by the United States and others…
BP said on Thursday it had started production at the Platina oilfield offshore Angola, helping Africa's second biggest oil exporter slow a decline in output.The Platina field will be linked to BP's existing Greater Plutonio floating production…
Brazil's Petrobras said on Wednesday it expects to invest $68 billion from 2022 to 2026, a sharp increase from its previous five-year plan, as the state-run oil company seeks to grow oil production from the subsea pre-salt area.The oil production forecast for next year fell slightly…
Lukoil, Russia's second-biggest oil producer, plans to produce 83 million to 84 million tonnes of oil a year in Russia over the next three years, with output returning to pre-pandemic levels in 2023, it said on Wednesday.The company, which earlier…
Norwegian oil and gas company Equinor has extended the contract with the engineering and consulting firm Wood for the delivery of maintenance solutions across the Peregrino wellhead platforms (WHP) and FPSO, located offshore Rio de Janeiro, Brazil…
U.S. Energy Secretary Jennifer Granholm on Tuesday urged U.S. energy companies to increase oil supply amid 'enormous profits' as President Joe Biden seeks to bring down the price of gasoline for American families.Granholm said the oil and gas…