Oil prices extended pre-weekend gains on Monday to hit multi-year highs, lifted by tight global supply and strengthening fuel demand in the United States and beyond as economies recover from pandemic-induced slumps.Brent crude futures rose by 97 cents…
Portuguese oil company Galp Energia on Monday raised its earnings outlook for 2021 after higher oil prices and positive refining margins buoyed profitability in the third quarter.Galp said its adjusted core earnings or EBITDA in this year as a whole would exceed 2…
After years of delays, the Yme field in the North Sea offshore Norway, now operated by the Spanish oil firm Repsol, has started producing oil, again.The Yme is a field in the southeastern part of the Norwegian sector of the North Sea, 130 kilometers northeast of the Ula field…
Lamprell, a company building large structures for the offshore energy industry, has won a rig conversion contract with the Oslo-listed oil and gas company BW Energy (BWE).The scope of work involves the conversion of BWE’s Hibiscus Alpha jack-up rig into an offshore production facility…
Global oil major ExxonMobil Corp is looking at buying a stake in some of the local deepwater fields of Indian explorer Oil and Natural Gas Corp, oil secretary Tarun Kapoor said on Friday.India, the world's third-biggest oil importer, and consumer…
Shell said on Friday it expects an offshore transfer facility, which was shut due to damage from Hurricane Ida, to be operational in the first half of November, restarting production of a popular Gulf of Mexico crude grade earlier than expected…
Oil producer Guyana could resume talks with India for a deal to sell the government's share of crude as output rises next year, the South American nation's vice president told Reuters.Earlier this year, Indian refiners bought at least two test cargoes of Guyana's Liza light sweet crude…
Oil and gas giant Shell has started production from the Arran gas and condensate field in the UK North Sea.Shell's Arran development is part of the broader Central Graben Area Plan, and is developed as a tie-back via a new pipeline to Shell's Shearwater offshore platform…
Israel is considering the construction of a new onshore pipeline to Egypt in order to quickly boost natural gas exports to its neighbour in the wake of the recent tightening of global supplies, the Israeli energy ministry said.The pipeline,…
Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched.Helping to drive the latest gain, a supply report from the U…
Woodside Petroleum slashed its gas reserves estimate for two fields at the Wheatstone project on Thursday, in an unexpected downgrade that knocked the top Australian oil and gas company's shares.The company also said it was on track to sell…
Brazil's Petrobras posted mixed production figures on Wednesday as the state-run oil company ramps up output at some major oilfields while also jettisoning a number of legacy production assets as part of a wider divestment drive.In a securities filing…
Norway's petroleum output in September fell from the previous month, but exceeded official forecasts, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Wednesday.Crude oil output declined to 1.77 million barrels per day (bpd) in September from 1…
Oslo-listed oil and gas company BW Energy has brought online the Gamba well DTM-7H as part of the Tortue Phase 2 field development in Gabon. The final well, DTM-6H, in the Dentale formation, is scheduled to come onstream in the coming days. Current…
The Philippines' energy ministry on Tuesday defended the sale of an oil and gas concession to a firm controlled by an ally of President Rodrigo Duterte, dismissing a graft complaint that alleged preferential treatment as 'malicious'.Udenna Corp…
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