Subsea equipment and SURF– subsea, umbilicals, risers, and flowlines – are the best-performing segments, with growth rates exceeding 10% on a yearly basis in the second quarter of 2019.Rystad Energy announced that the subsea market is definitely on the rise in the oilfield service sector…
Australian authorities say they have resumed assessing the environmental plan for Equinor's proposed exploration drilling activity in the Great Australian Bight after the Norwegian energy company provided additional information requested as part of the review…
Exxon Mobil Corp said on Wednesday it was looking to sell its 50% stake in the Gippsland Basin oil and gas development in Australia's Bass Strait as part of a broader review of its global portfolio of assets.The sale could fetch up to $3 billion…
Norway's Equinor has discovered a gas field in its Eagle prospect in the Norwegian Sea, the energy company said on Tuesday, adding that it plans to extract resources via existing platforms in the areaThe company discovered the gas field along with Norwegian partners Aker BP and Wellesley Petroleum…
Oil futures jumped 10% on Monday after an attack on Saudi Arabian crude oil processing facilities over the weekend sliced the kingdom's production in half and threatened to hamper shipments from the world's largest crude exporter.Prices initially…
Privately held oil and gas exploration and production company New Age (African Global Energy) Limited has announced the completion of the US$800 million sale of its 25% non-operated interest in the offshore Marine XII permit in Congo (Brazzaville) to LUKOIL Upstream Congo SAU…
Lower oil prices will push the global oilfield services (OFS) sector into a recession in 2020 after three successive years of growth, according to Rystad Energy.In a new sector outlook update, Audun Martinsen, head of oilfield services research at Rystad Energy…
Mexico's government will give state-owned Pemex $5 billion so the world's most indebted oil company can pay off bonds, part of a plan to shore up accounts that also includes refinancing other bonds, the company said on Wednesday.Pemex, burdened by some $104 billion of debt…
Brazil auctioned off the exploration rights to 33 minor onshore and offshore oil and gas blocks on Tuesday, in what authorities framed as a bid to boost the industry outside of the nation's core, offshore pre-salt play.At an event in downtown Rio de Janeiro…
Oil major ExxonMobil said on Friday it had signed an exclusivity agreement with Var Energi for negotiations regarding a possible sale of Exxon's Norwegian upstream assets.An acquisition of Exxon's production assets in Norway would cement Var…
Output from the Equinor-operated Johan Sverdrup oil field in the North Sea will rise to 660,000 barrels per day (bpd) by 2022, from 440,000 bpd by early 2020, a company executive said on Monday.Output from the field will start up in October…
U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row after drilling slowed for nine straight months as independent producers cut spending by about 10% this year.Drillers cut four oil rigs in the week to Sept…
Africa-focused oil and gas exploration, development and production company LEKOIL announced progress in one of its Nigerian projects months after a temporary setback in its asset acquisition spree in the West African country.The company said…
Russia's natural resources and environment minister said on Wednesday he supported allowing private oil and gas companies to work on the Arctic shelf.Speaking to reporters at an economic forum in the far eastern Russian city of Vladivostok, the minister…
Thirty-three oil companies submitted bids for exploration blocks offshore Norway in a so-called predefined areas (APA) licensing round, the Ministry of Oil and Energy said on Wednesday.This year's round comprised 48 blocks in the Arctic Barents Sea…
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