Oil and gas company Spirit Energy has received consent for the extended use of the facilities on the Vale offshore field in Norway.The Vale gas field is located in the North Sea, 16 kilometers north of the Heimdal field. The field is developed…
Australia has stunned the oil industry with a levy to cover the estimated $200 million cost of removing facilities and cleaning up the area around an oil field off northwest Australia after the small company that owned the project collapsed…
Spending in the upstream oil and gas sector is expected to gradually begin to rise from 2022, however, it will not reach the pre-crisis period any time soon as the toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping $285 billion…
Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday.Its updated models show renewables meeting 74% of total energy demand by 2050…
Norway's Equinor raised its dividend and posted a bigger-than-expected rise in first-quarter operating profit on Thursday, boosted by higher oil and gas prices and massive one-off gains from its renewable energy business.The oil and gas company…
Delek Drilling said on Monday it has signed a non-binding deal to sell its stake in the east Mediterranean natural gas field Tamar to Abu Dhabi's Mubadala Petroleum for $1.1 billion.The deal, if finalized, would be among the most significant…
International oil activity should ramp-up through the end of this year and beyond, Schlumberger NV top boss Olivier Le Peuch said on Friday, a shift that will help the company grow revenue outside North America by double-digits in the second half of the year…
Offshore drilling contractor Awilco Drilling has secured a contract for its WilPhoenix semi-submersible drilling rig.The company said Monday that it had signed a contract with Ithaca Oil and Gas Limited, which will use the WilPhoenix for a single exploration well at Fotla in Block 22/1b…
Singapore's Keppel Corporation has confirmed it has been in talks with the Brazilian oil company Petrobras to built an FPSO vessel for the Buzios field offshore Brazil.In a statement on Friday, responding to an article by Upstream Daily News…
The National Ocean Industries Association (NOIA) board of directors has elected Tim Duncan, president & CEO of Talos Energy, as chairman and Paul Danos, owner, president and CEO of Danos, as vice chairman for the 2021-22 term. Duncan and Danos…
Israel’s Delek Drilling is in talks to sell its stake in the offshore natural gas field for up to $1.1 billion, financial news website Calcalist reported on Monday.Delek owns a 22% stake in Tamar, one of Israel’s main energy sources, which it…
Occidental Petroleum Corp Chief Executive Vicki Hollub said on Tuesday she opposes a carbon tax, an idea that has gained the backing of large rival oil companies and some trade groups.'A carbon tax would be bad for a lot of the industry, a carbon…
Australian oil and gas company Emperor Energy has acquired from CGG a license to recently acquired 3D seismic data covering its Judith gas field located within the Vic/P47 Permit in the offshore Gippsland Basin, Victoria, Australia.According to Emperor Energy…
Norwegian oil firm Equinor, with its partners Vår Energi, Idemitsu Petroleum, and Neptune Energy, said Wednesday it had made the biggest discovery this year offshore Norway.Preliminary estimates place the discovery size between 12 and 19 million standard cubic meters of recoverable oil equivalent…
Norwegian offshore oil and gas company Vår Energi has received regulatory approvals to drill four wells in the production license 229, in the Norwegian section of the North Sea.The Norwegian Petroleum Directorate said Tuesday it had granted Vår Energi a drilling permit for wells 25/8-20 S…
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