Oil and gas explorer Kosmos Energy expects to have agreed by the end of this year to sell down its stake in projects off the coast of Mauritania and Senegal in which it partners with BP, Kosmos said on Monday.In December, BP and its partners…
U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row as most independent producers cut spending even though majors were still pushing ahead with investments in new drilling.Drillers cut six oil rigs in the week to Aug…
Shell has taken the final investment decision (FID) for the PowerNap deepwater project in the US Gulf of Mexico, the supermajor announced on Thursday.PowerNap, a subsea tie-back to the Shell-operated Olympus production hub, is expected to start production in late 2021 and produce up to 35…
U.S. oil and gas producer Apache Corp reported a 78.6% fall in second-quarter adjusted profit on Wednesday, hit by lower prices of oil, gas and natural gas liquids (NGL) and higher operating costs.The company reported a 43.6% fall in natural…
Shell announced on Tuesday it has completed the sale of 22.45% non-operated interest in the Caesar-Tonga asset in the US Gulf of Mexico to Equinor as part of its divestment plan currently underway.In April 2019, Shell announced it had signed an agreement to sell its interest to Delek…
A strong rise in oil and gas production helped BP offset weaker crude prices and refining profit to again beat profit expectations on Tuesday, boosting its shares.BP's second quarter contrasts with Total and Norway's Equinor, which posted sharp earnings drops…
State-run Korea National Oil Corp (KNOC) is considering upping the stake it is planning to sell in its British unit Dana Petroleum after failing to lure a buyer for the 30% previously on offer, banking and industry sources said.KNOC had hired…
ConocoPhillips missed Wall Street estimates for quarterly profit on Tuesday as it spent more than expected and took a hit from lower crude prices due to fears of a slowing global economy.The OPEC and Russia have put a lid on production, but…
Qatar Petroleum has entered into an agreement with Total for a share of exploration and production rights in two blocks offshore Guyana in Latin America.Under the agreement, which is subject to customary regulatory approvals by the government of Guyana…
Australia passed a legislation that sets down maritime boundaries with East Timor on Monday, providing a framework for the two countries to split revenue from the offshore Greater Sunrise natural gas field.Both sides signed the historic treaty…
Spanish public multinational utility company Iberdrola said that its gross operating profit (EBITDA) grew by 12.5% to €4.99 billion, due to the positive performances in the United States, Mexico and Brazil and the contribution of the Wikinger offshore wind farm…
Anadarko Petroleum Corp, in its last earnings report before shareholders vote on its sale to Occidental Petroleum, on Friday reported a quarterly profit that topped analysts' estimates, as higher production offset lower prices for its oil.It…
The Trump administration said on Friday it has renewed Chevron Corp's license to drill for oil and gas in Venezuela despite sanctions, signaling it sees value in having the U.S. oil producer operate in a country on the verge of economic and political collapse…
Discoveries of natural gas reserves in the Mediterranean Sea around Egypt, Cyprus, Israel and Greece are shaking up Europe’s energy politics. Traditionally, Russia has been Europe’s main supplier of gas, giving it significant influence over Europe…
The European Commission said on Friday it approved French state aid for six offshore wind farms in France to help the country meet its climate and renewable energy targets.The farms, which will each have 62 to 83 wind turbines and an expected capacity of 450 to 498 megawatts…
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