U.S. manufacturers reported business activity declined for the second month running in December and the sector appears to be on the leading edge of a recession. The slowdown in manufacturing and freight has already dampened consumption of diesel and other distillate fuel oils…
Hess Corp on Thursday said drilling results expected this month could add a seventh platform in Guyana, which would lift the nascent oil producing nation's output above the 1.2 million barrels of oil equivalent per day planned.The U.S. oil producer…
U.S. oil firm Talos Energy said Tuesday that its two deepwater wells in the U.S. Gulf of Mexico had discovered commercial quantities of oil and gas during drilling operations in the fourth quarter of 2022. Talos holds a 60% working interest in the two deepwater discoveries…
Petra Energy Berhad has secured a contract extension with Petronas for production, operation, and maintenance services at the Banang offshore oil field. The agreement runs until August 6, 2024. Its scope under the extension includes the provision of production…
Sagar Samrat, the iconic offshore drilling rig that helped discover India's biggest offshore oil field - the Mumbai High - in 1974, has started its new life, now as an offshore production unit.India's national oil company ONGC said Monday that…
Oil rose on Friday and was on track for a second straight annual gain in a volatile year marked by tight supplies because of the Ukraine war and weakening demand from the world's top crude importer, China. Crude surged in March with global benchmark Brent reaching $139…
The Norwegian oil and gas companies OKEA and DNO Norge have signed a deal for OKEA to enter the offshore license in Norway containing the Brasse discovery, with a 50% stake effective January 1, 2023. Following the transaction, DNO and OKEA will each hold 50% WI in the (PL740)…
Indonesia has awarded another two oil and gas exploration blocks to domestic firms as it seeks to boost production to meet growing energy demand, the energy ministry's director general of oil and gas said on Wednesday. The Paus working area in offshore East Natuna…
Production from the Njord field in the Norwegian Sea restarted at 16.30 on December 27th, following an upgrade project in which both the platform and the floating storage and offloading vessel (FSO) were brought ashore for extensive upgrades…
Japan's Cosmo Energy Holdings Co Ltd said on Friday it has signed a new agreement with Qatar Energy to continue its operation in the Al-Karkara and A-Structures offshore oil fields, which came into effect after the expiry of the current contract this month…
Chinese oil company CNOOC Limited said Monday that its Bozhong- Kenli oil fields power from shore project had successfully started operation. The project will power 39 offshore platforms in Bohai Bay, China.The main facilities of the project…
Lime Petroleum AS, a subsidiary of Rex International, has completed the acquisition of a 10 percent stake in the Yme offshore oil field in Norway from Kufpec for an after-tax consideration of $$68.053 million. The completion, in agreement with KUFPEC…
Indonesia aims to export natural gas to Vietnam starting in 2026 from the Tuna offshore block located near the Indonesian and Vietnamese maritime border, the country's energy minister said on Friday. Southeast Asia's biggest economy may deliver…
Hurricane Energy's largest shareholder Crystal Amber Fund is calling for the removal of top management at the British company and the appointment of two directors from another firm that the fund says could invest in Hurricane.Hurricane put itself…
Norwegian offshore engineering and construction firm Aker Solutions said Thursday it had secured a 'sizeable' contract with the oil and gas company Wintershall Dea to provide the subsea production system for the Dvalin North field development…
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