Latest Release

  • 125 years of Wintershall

    by Oil and gas press -

    Wintershall Dea is celebrating Wintershall’s 125th anniversary with a large ceremony in Kassel along with around 400 guests and so bringing its jubilee year to a close. DEA Deutsche Erdoel AG has already marked its 120th anniversary in Hamburg at the beginning of the year. The two German companies with their long and rich tradition […]

  • ADNOC Invests AED 1.8 Billion to Upgrade Bab Onshore Field

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) announced, a significant investment to upgrade its giant Bab onshore field, one of its largest onshore producing assets, located 160 kilometers southwest of Abu Dhabi city. The investment will re-energize ADNOC’s first field producing Murban grade crude to sustain long-term crude oil production capacity and reinforces ADNOC’s commitment […]

  • ADNOC Signs Agreements with Abu Dhabi Ports and Aldar Properties

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) signed, today, two comprehensive framework agreements, with Abu Dhabi Ports and Aldar Properties PSJC (Aldar), to explore opportunities for collaboration in relation to ADNOC’s In-Country Value (ICV) Program. The agreements potentially extend the reach of ADNOC’s ICV Program to the logistics and construction sectors and reinforce ADNOC’s commitment […]

  • ADNOC Launches Major Rig Fleet Expansion Program

    by Oil and gas press -

    ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), announced today a major rig fleet expansion program to support ADNOC’s upstream growth plans and enable the delivery of its 2030 Smart Growth Strategy. In the first phase of the wider expansion program, ADNOC acquired, in November 2019, four technologically advanced and UAE-built […]

  • ENGIE, DLVA and Air Liquide are enter into partnership to produce green hydrogen

    by Oil and gas press -

    ENGIE, the Durance, Luberon, Verdon urban area (DLVA) and Air Liquide are signing a cooperation agreement to develop the “HyGreen Provence” project. which aims at producing , storing and distributing green hydrogen. Initiated in 2017, “HyGreen Provence” will make it possible to develop and validate the technico-economic conditions for the production of 1,300 GWh of […]

  • Africa Oil 2019 Third Quarter Financial Results

    by Oil and gas press -

    Africa Oil Corp. (“Africa Oil” or the “Company”) announced its financial and operating results for the three and nine months ended September 30, 2019. All dollar amounts are in United States dollars unless otherwise indicated. View PDF version HIGHLIGHTS: The Company ended the quarter with cash of $330.3 million and working capital of $300.2 million; […]

  • King Salman celebrates sustainability

    by Oil and gas press -

    Under the patronage of the Custodian of The Two Holy Mosques, King Salman ibn ‘Abd Al-‘Aziz Al Sa’ud, Saudi Aramco has been awarded the King Khalid Award 2019 for Corporate Sustainability. The Yanbu’ Refinery Department (YRD) won top honors in this category and was recognized during the award ceremony in Riyadh on Monday. “I feel […]

  • Eni and Angola kickstart a strategic partnership for sustainable development

    by Oil and gas press -

    Eni’s CEO Claudio Descalzi and representatives of the Angolan Government signed today in Rome a Memorandum of Understanding and a series of other agreements ranging from local development to renewable energy, from health promotion to hydrocarbon research. The agreements are part of Eni’s long-term development strategy that combines traditional business with a commitment to diversified […]

  • TechnipFMC to Sell the G1201 Subsea Vessel

    by Oil and gas press -

    TechnipFMC (NYSE: FTI) (PARIS: FTI) today announced its intent to sell the G1201 vessel as part of its overall strategy to optimize the profile and size of its subsea fleet. Following the recent announcement of the Company’s alliance agreement with a best in class partner for pipeline installation using S-lay technology, this supports the Company’s […]

  • Tullow Oil Announce Trading Update summary

    by Oil and gas press -

      Full year 2019 West Africa net oil production from Ghana and non-operated portfolio forecast to average c.87,000 bopd ·      Full year capex forecast of c.$540 million, free cash flow forecast of c.$350 million, full year net debt of c.$2.8 billion ·      Uganda farm-down lapsed; Tullow and Joint Venture Partners remain committed to the Lake Albert Development ·      Kenya exports East Africa’s first cargo of 240,000 barrels […]

  • ADNOC and Total collaborate on Use of Unmanned Drones and Vehicle

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) and Total announce their collaboration to deploy the world’s first automated seismic acquisition system in Abu Dhabi. This pilot project, performed with Total’s Multiphysics Exploration Technology Integrated System (METIS®), uses autonomous drones and a ground vehicle to drop off and retrieve seismic sensors without human intervention, therefore at […]

  • CME Group Announces Jan. 13, 2020 Launch for Bitcoin Options

    by Oil and gas press -

    CME Group, the world’s leading and most diverse derivatives marketplace, today announced options on its Bitcoin futures contracts will be available for trading starting Jan. 13, 2020, pending regulatory review. “Since the launch of our Bitcoin futures nearly two years ago, clients have expressed a growing interest in options as another way to hedge and trade […]

  • Eni Ghana launches Business and Market Fair in Sanzule

    by Oil and gas press -

    Eni Ghana has launched the maiden edition of the Business and Market Fair in Sanzule, Western Region. The fair showcased agricultural products and other services issued from businesses developed under the Livelihood Restoration Plan (LRP), OCTP’s $3.9m project to diversify the local economy. Participants displayed crops, livestock and manufactured goods – including pigs, live spent […]

  • Eni achieves a new milestone in its digital transformation agenda

    by Oil and gas press -

    Eni announces the industrial deployment of ECHELON, an advanced dynamic reservoir simulator, for optimization of field monitoring, development and production. ECHELON software allows to run thousands of parallel reservoir simulations in a record timeframe, further accelerating projects time-to-market. This technology will support Eni in managing uncertainty while improving early understanding of field behavior for more […]

  • Neste and Ravago collaborate to enable chemical recycling of plastic waste

    by Oil and gas press -

    Neste, the world’s leading provider of renewable diesel, renewable jet fuel, and an expert in delivering drop-in renewable chemical solutions, and Ravago, the world’s leading distributor and recycler of polymers, are joining forces to develop chemical recycling of plastic waste with the aim to reach significant industrial scale. Neste and Ravago have set a joint […]

  • Aker BP proceeds Full speed ahead with Ærfugl Phase 2

    by Oil and gas press -

    The Ærfugl partners have decided to proceed with Phase 2 of the Ærfugl project in the Norwegian Sea, three years ahead of the original plan. The Ærfugl field, which produces via Skarv FPSO, is one of the most profitable development projects on the Norwegian shelf with a break-even price of around USD 15 per barrel […]

  • Ithaca completes $2 billion Chevron North Sea deal

    by Oil and gas press -

    Ithaca Energy Limited (“Ithaca” or the “Company”) announced that it has completed the $2 billion acquisition of Chevron North Sea Limited (“CNSL”). The transaction provides a material and important step up in the scale and breadth of the Company’s asset base, adding ten additional producing field interests to the existing portfolio, along with a wider […]

  • Saipem Sign Strategic Cooperation Agreement with Daewoo E&C Co. Ltd

    by Oil and gas press -

    Saipem and Daewoo E&C Co. Ltd have signed a strategic agreement for cooperation on targeted worldwide opportunities in the onshore oil and gas industry, with specific emphasis on the LNG sector. By combining both companies’ assets and expertise in engineering, procurement and construction of onshore facilities, the two companies will focus on specific prospects with […]

  • Kosmos Energy Announce Board Appointment

    by Oil and gas press -

    Kosmos Energy (NYSE/LSE: KOS) announced today that Ms. Lisa Davis has joined its Board of Directors, effective, November 6, 2019. Ms. Davis is a senior executive with more than 30 years of extensive experience in oil, gas, power generation, renewable energy, and manufacturing. Source / More : Kosmos Energy Oil and Gas News Undiluted !!! […]

  • Keystone resumes crude oil deliveries

    by Oil and gas press -

    TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced that its Keystone pipeline has returned to service following the approval of its repair and restart plan by the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA). As part of the restart plan, TC Energy will operate the pipeline at a reduced pressure with a gradual increase […]

  • TC Energy reports third quarter financial results

    by Oil and gas press -

    TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) announced net income attributable to common shares for third quarter 2019 of $739 million or $0.79 per share compared to net income of $928 million or $1.02 per share for the same period in 2018. Comparable earnings for third quarter 2019 were $970 million […]

  • Encana to rebrand, change name and relocate to United States

    by Oil and gas press -

    Encana Corporation (NYSE, TSX: ECA) announced its intention to establish corporate domicile in the United States. The move, which requires shareholder, stock exchange and court approval, is expected to occur in early 2020. As part of this process, the new company will rebrand under the name Ovintiv Inc. Additional information will be available on the […]

  • Saudi Aramco announces the publication of prospectus

    by Oil and gas press -

    Saudi Arabian Oil Company (Saudi Aramco) has issued a prospectus for its initial public offering on the Saudi Stock Exchange (Tadawul).  More information can be found by clicking here. The offering period for the Institutional Subscribers begins on 17/11/2019 and closes at the end of 04/12/2019. The offering period for Individual Subscribers begins on 17/11/2019 and […]

  • Toyota signs JV deal with BYD to develop batteries for electric cars

    by Oil and gas press -

    On 7 November 2019, BYD Company Limited (“BYD” or the “Company”) and Toyota Motor Corporation (“Toyota”) entered into an agreement regarding the joint venture for establishment of a R&D company of battery electric vehicles (the “JV Company”). Each of BYD and Toyota will be interested in the equity of the JV Company as to 50%. […]

  • Workhorse Group Signs IP Licensing Agreement with Lordstown Motors Corp.

    by Oil and gas press -

    Workhorse Group Inc. (NASDAQ: WKHS) (“Workhorse” or “the Company”), an American technology company focused on providing sustainable and cost-effective electric-mobility solutions to the transportation sector, has entered into an intellectual property licensing agreement (“IPLA”) with Lordstown Motors Corp. (“LMC”), a private corporate entity founded by former Workhorse CEO Steve Burns. The LMC entity was created […]

  • Total Update on Yemen LNG

    by Oil and gas press -

    The Balhaf facility is operated by Yemen LNG, in which Total has a 39.6% interest alongside U.S.-based Hunt Oil (17.2%); South Korea’s SK Innovation, Hyundai and Kogas (a combined 21.4%); and Yemen’s state-owned YGC and state organization GASSP (a combined 21.7%). Total therefore does not have a controlling interest in Yemen LNG and does not […]

  • Eni presents 2nd volume of the World Oil, Gas and Renewables Review

    by Oil and gas press -

    Eni has released the second volume of the World Oil, Gas and Renewables Review, the annual statistics report arrived at the 18th edition. The volume follows the first published in July focused on the oil market and the refining industry. It provides data and statistics on natural gas, modern renewable energy sources (solar and wind) […]

  • Total Reviews Its Membership in Industry Associations in Line with Their Climate Stance

    by Oil and gas press -

    In its fourth Integrating Climate Into Our Strategy report, released today, Total reviews the 30 most significant industry associations of which it is a member to verify that their stances on climate issues are aligned with the Group’s, based on six criteria in particular: The scientific position: Total considers the link between human activity and […]

  • Equinor sells Eagle Ford asset

    by Oil and gas press -

    Equinor has signed an agreement to divest to Repsol its 63% interest in, and operatorship of, its onshore business in the Eagle Ford in the US state of Texas. The transaction covers all of Equinor’s interests in the Eagle Ford Joint Venture with Repsol, covering 69 000 net acres. Following this transaction Repsol will have […]

  • Saudi Aramco signs crude oil supply deals at China International Import Expo

    by Oil and gas press -

    Saudi Aramco signed crude oil sales agreements for 2020 with five Chinese customers, increasing total volume by 151,000 barrels per day compared to their 2019 supply contracts. These new sales agreements further solidify the Company’s position as China’s top crude supplier. These five new agreements were signed separately on the sideline of the second China […]

  • ExxonMobil, FuelCell Energy in JV for carbon capture technology

    by Oil and gas press -

    ExxonMobil and FuelCell Energy, Inc. said they have signed a new, two-year expanded joint-development agreement to further enhance carbonate fuel cell technology for the purpose of capturing carbon dioxide from industrial facilities. The agreement, worth up to $60 million, will focus efforts on optimizing the core technology, overall process integration and large-scale deployment of carbon […]

  • BP invests in city mobility start-up MaaS Global

    by Oil and gas press -

    BP Ventures is investing €10 million in MaaS Global, a provider of digital mobility software designed to make transport easier and smarter. The company’s innovative Whim app allows customers to access and connect on a single platform all available transport options in a city – from taxis, buses, bikes and rental cars, to ride-hailing services, […]

  • McDermott’s Lummus Technology Awarded Contract in China

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) today announced that it has been awarded a sizeable* technology contract by Formosa Chemicals Industries Ningbo Limited for the technology license and basic engineering services for a grassroots alpha-methylstyrene (AMS) recovery unit in Ningbo, China. This 10,000 MTA unit will utilize AMS technology jointly licensed by Versalis and McDermott’s Lummus Technology […]

  • Baker Hughes Announces October 2019 Rig Counts

    by Oil and gas press -

    Baker Hughes (NYSE: BKR) announced today that the Baker Hughes international rig count for October 2019 was 1,130, down 1 from the 1,131 counted in September 2019, and up 113 from the 1,017 counted in October 2018. The international offshore rig count for October 2019 was 242, unchanged from September 2019, and up 35 from the 207 counted in October 2018. The average U.S. rig count […]

  • Subsea 7 S.A. Announces Third Quarter 2019 Results

    by Oil and gas press -

    Subsea 7 S.A. (the Group) (Oslo Børs: SUBC, ADR: SUBCY, ISIN: LU0075646355) announced today results for the third quarter which ended 30 September 2019. Third Quarter highlights • Adjusted EBITDA of $181 million and margin of 19% reflected good progress on certain projects but lower activity in Renewables and Heavy Lifting • Order intake totalled […]

  • Gas cooperation between Gazprom and Ukraine from 2020 onward

    by Oil and gas press -

    Alexey Miller, Chairman of the Gazprom Management Committee, and Georg Graf Waldersee, Commissioner of the Federal Government of the Federal Republic of Germany for Gas Transit across Ukraine,met today in St. Petersburg. The meeting participants discussed issues related to the interaction between Gazprom and Ukraine in the gas sector from 2020 onward. Alexey Miller pointed […]

  • CNRL Announces 2019 Third Quarter Results

    by Oil and gas press -

    Net earnings of $1,027 million were realized in Q3/19, while adjusted net earnings of $1,229 million were achieved in Q3/19, a $187 million increase from Q2/19 levels. Cash flows from operating activities were $2,518 million in Q3/19, a decrease of $343 million compared to Q2/19 levels. Canadian Natural generated record quarterly adjusted funds flow of […]

  • LOC awarded Marine Assurance and Inspection contract with BP Egypt

    by Oil and gas press -

    LOC Group, a top tier provider of services to the offshore oil and gas industry, is pleased to announce that it has become the third-party provider for Marine Assurance & Inspection with BP Egypt, one of the largest multinational Oil and Gas company. LOC Egypt has been awarded a two-year Marine Assurance and inspection contract […]

  • Occidental Announces Dividend

    by Oil and gas press -

    Occidental Petroleum Corporation (NYSE:OXY) said today that its Board of Directors has declared a regular quarterly dividend of $0.79 per share on common stock payable on January 15, 2020, to stockholders of record as of December 10, 2019. Occidental has paid quarterly dividends continuously since 1975 and has increased its dividend each year since 2002. […]

  • $100,000 for California Fire Relief Efforts

    by Oil and gas press -

    Chevron today announced a contribution of $100,000 from the Chevron Global Community Fund to the American Red Cross to support relief efforts for wildfires in California. Chevron, with operations all around California and 140 years of history in the state, is committed to being a strong and reliable partner in the communities where its employees live and work. The company will also match any qualifying […]

  • US warns Americans Against travel to ‘high risk’ states in Nigeria

    by Oil and gas press -

    The United States of America has warned its citizens not to travel to some states in Nigeria categorised as “high-risk aeas”. In a release published by the Bureau of Consular Affairs, 14 Nigerians states were listed with a “do not travel” instruction. The release says; Reconsider travel to Nigeria due to crime, terrorism, civil unrest, […]

  • IMF Staff Completes 2019 Article IV Mission to the United Arab Emirates

    by Oil and gas press -

    An IMF team led by Mr. Koshy Mathai visited the UAE from October 22 to November 5, 2019, to conduct discussions for the 2019 Article IV Consultation. Upon conclusion of the visit, Mr. Mathai issued the following statement: “Following a challenging period, the economy is recovering. Non-oil growth could exceed 1 percent in 2019 and […]

  • World Bank’s Initiative: ‘Zero Routine Flaring by 2030’

    by Oil and gas press -

    Saudi Aramco announced today that it is joining the World Bank Initiative: ‘Zero Routine Flaring by 2030’. Saudi Aramco has a strong focus on flaring reduction, which remained at less than 1% of its total raw gas production in the first half of 2019. Ahmad A. Al-Saadi, Saudi Aramco Senior Vice-President, Technical Services said: “We […]

  • Zenith Energy’s Proposed acquisition of Norwegian oil & gas company

    by Oil and gas press -

    Zenith Energy Ltd., (“Zenith” “), announced that it has formalised an offer to acquire Nordic Petroleum AS (“Nordic”), by way of an exchange of equity. The proposed acquisition is structured to be for a minimum of 90 percent of the outstanding shares in Nordic with a proposed equity exchange of 100 Nordic common shares for […]

  • Nigeria: 14 Companies Bid for OML 119

    by Oil and gas press -

    In furtherance of the transparency agenda of the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, the corporation has publicly opened bids from 14 companies for the financing and redevelopment of Oil Mining Lease (OML) 119. OML 119 is operated by the Upstream subsidiary of the corporation, the Nigerian Petroleum […]

  • Nigeria Government to Support Dangote Refinery with Feedstock

    by Oil and gas press -

    The Federal Government has pledged to support the 650,000 barrels per day capacity Dangote Refinery and Petrochemicals Plant with crude oil feedstock and other necessary inputs to the success of the project. The Minister of State for Petroleum Resources, Chief Timipre Sylva, made this known during a tour of the Dangote Refinery being constructed by […]

  • Equinor discovers Oil and gas in the North Sea

    by Oil and gas press -

    Equinor and partners ExxonMobil, Idemitsu and Neptune have discovered oil and gas in exploration well Echino South, 35/11-23, by the Fram field in the North Sea. Recoverable resources are estimated at 6-16 million standard cubic metres of oil equivalent, corresponding to 38-100 million barrels of oil equivalent. “We are making one of this year’s biggest […]

  • Odfjell SE Announce 3Q19 Results

    by Oil and gas press -

    Odfjell SE today reported its results for the third quarter of 2019. The results reflect a chemical tanker market impacted by seasonally lower volumes that were also affected by geopolitical tensions towards the end of the quarter. Freight rates were stable compared to the previous quarter. Highlights for the third quarter of 2019: The chemical […]

  • New Chief Financial Officer at McDermott

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) today announced the appointment of Chris Krummel as Executive Vice President, Chief Financial Officer, effective immediately. Mr. Krummel joined McDermott in 2016 and previously served as the company’s Global Vice President, Finance and Chief Accounting Officer. He replaces Stuart Spence, who has resigned from McDermott to pursue other opportunities. “Chris […]

  • Occidental Announces 3rd Quarter 2019 Results

    by Oil and gas press -

    Occidental Petroleum Corporation (NYSE:OXY) today announced a net loss attributable to common stockholders for the third quarter of 2019 of $912 million, or $1.08 per diluted share, and adjusted income attributable to common stockholders of $93 million, or $0.11 per diluted share. Third quarter pre-tax items affecting comparability mainly include Anadarko merger-related transaction costs and […]

  • IMO2020-compliant low-sulphur marine fuel available in Germany

    by Oil and gas press -

    Neste and the German BMT Bunker und Mineralöltransport GmbH have signed a partner agreement concerning distribution and sales of Neste MarineTM 0.5. This new marine fuel, containing maximum 0.5% sulphur, has been available in Bremerhaven, Germany, since the beginning of November 2019. BMT is a bunkering services company with a long experience in the sales […]

  • McDermott Reports net loss of $1.9b in 3rd Quarter 2019 Results

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) today reported revenues of $2.1 billion, a net loss of $1.9 billion, or $(10.37) per diluted share, and an operating loss of $1.7 billion for the third quarter of 2019. The net loss was due primarily to non-cash accounting charges of $1.5 billion related to impairments of goodwill and intangible […]

  • ExxonMobil reports $3.2 billion earnings in third quarter 2019

    by Oil and gas press -

    Exxon Mobil Corporation announced estimated third quarter 2019 earnings of $3.2 billion, or $0.75 per share assuming dilution. Earnings included a favorable tax-related identified item of about $300 million, or $0.07 per share assuming dilution. Capital and exploration expenditures were $7.7 billion, including key investments in the Permian Basin. Oil-equivalent production rose 3 percent from […]

  • CME Group Averaged 17 Million Contracts Per Day in October 2019

    by Oil and gas press -

    CME Group, the world’s leading and most diverse derivatives marketplace, reached average daily volume (ADV) of 17 million contracts during October 2019, down 17% from October 2018. Open interest (OI) at the end of October was 132 million contracts, up 3% from October 2018, and up 14% from year-end 2018. Metals volume averaged 633,000 contracts […]

  • Gazprom and BASF promote technology cooperation

    by Oil and gas press -

    Sochi hosted an expanded 5th conference on promoting the relationship in the area of gas processing held by the Coordinating Committee for Strategic Cooperation between Gazprom and BASF. The conference included a discussion of possible cooperation in technological innovation, digitalization of business processes, and localization of BASF chemical production in Russia. To that end, Gazprom […]

  • HIGH QUALITY NATURAL GAS FLOWING FROM UK SHALE

    by Oil and gas press -

    Leading onshore shale gas exploration operator Cuadrilla today announced results from laboratory testing of the natural gas flowing to surface from its second horizontal well, drilled through the shale rock some 7,500 feet beneath its flagship site in Preston New Road (PNR) Lancashire. Testing of the flow rate of natural gas from the PNR2 well […]

  • Saudi Aramco Intends to Float on Tadawul

    by Oil and gas press -

    Saudi Aramco, the world’s largest integrated oil and gas company, wholly owned by the Government of the Kingdom of Saudi Arabia (the “Kingdom”, the “Government” or the “Selling Shareholder”), today announces its intention to proceed with an initial public offering on the Main Market of Tadawul. Source / More : Saudi Aramco Oil and Gas News Undiluted […]

  • Chevron Reports Third Quarter Net Income of $2.6 Billion

    by Oil and gas press -

    Chevron Corporation (NYSE: CVX) today reported earnings of $2.6 billion ($1.36 per share – diluted) for third quarter 2019, compared with $4.0 billion ($2.11 per share – diluted) in the third quarter 2018. Included in the current quarter was a tax charge of $430 million related to a cash repatriation. Foreign currency effects increased earnings in the third quarter 2019 by $74 million. Sales and […]

  • Africa Oil to Increase its Interest in Deepwater Nigeria Fields

    by Oil and gas press -

    Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) announced that it has entered into an amendment to the share purchase agreement (the “Amended SPA”) signed on October 31st, 2018, between Petrobras International Braspetro BV (“PIBBV”) and Petrovida Holding B.V. (“Petrovida”), the company formed by the consortium of Africa Oil, Delonex Energy Ltd. (“Delonex”) and […]

  • 50th Year Anniversary of LNG (Liquefied Natural Gas) in Japan

    by Oil and gas press -

    November 4th, 2019 marks 50 years since LNG was first imported to Japan. Tokyo Electric Power Company (now JERA Co., Inc. “JERA”) and Tokyo Gas Co., Ltd. (Tokyo Gas), through Mitsubishi Corporation (Mitsubishi) acting as a buyer’s agent, started receiving LNG in 1969 from the Alaska LNG Project with Phillips Petroleum (now ConocoPhillips) as a […]

  • Shell Appoints Downstream Director

    by Oil and gas press -

    Royal Dutch Shell plc (Shell) today announces the appointment of Huibert Vigeveno as Downstream Director with effect from 1st January 2020. In his new role, Huibert will become a member of the Executive Committee and will succeed John Abbott. John will remain available to Huibert and the Executive Committee to assist with the transition until 31st March […]

  • Syndial changes name to Eni Rewind

    by Oil and gas press -

    Syndial, Eni’s environmental company, has today changed its name to Eni Rewind. The new name is an acronym for Remediation & Waste Into Development and of course also connotes a return to a previous time, reflecting the main goals of Eni’s remediation projects and new circular-economy technologies, which are to make environmental resources reusable and […]

  • Exxon Mobil Corporation declares fourth quarter dividend

    by Oil and gas press -

    The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) declared a cash dividend of $0.87 cents per share on the Common Stock, payable on December 10, 2019 to shareholders of record of Common Stock at the close of business on November 12, 2019.  Source / More : Exxon Mobil Oil and Gas News Undiluted !!! […]

  • TechnipFMC Total Voting Rights and Share Capital

    by Oil and gas press -

    TechnipFMC plc (NYSE:FTI) announces that, in accordance with Disclosure Guidance and Transparency Rule 5.6, it hereby notifies the market that as of 30 October 2019, the Company’s capital consists of 447,061,245 ordinary shares of USD 1.00 each. The Company does not hold any shares in treasury. Therefore, the total number of voting rights in the Company is 447,061,245. […]

  • Baker Hughes Declares Quarterly Dividend

    by Oil and gas press -

    Baker Hughes (NYSE: BKR) announced today that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on November 22, 2019 to holders of record on November 11, 2019. Source / More : Baker Hughes Oil and Gas News Undiluted !!! “Sustainability is the new Green” Please email us your industry […]

  • Eni announces plans for a new supercomputer at the Green Data Center

    by Oil and gas press -

     Eni has started the updating work for its new supercomputer system, HPC5, in order to strengthen the existing HPC4, tripling its computing power from 18 to 52 petaflops, equivalent to 52 million billion mathematical operations a second. Thanks to HPC5, powered by Dell Technologies, Eni’s Green Data Center, will become the world’s most powerful supercomputer […]

  • Chevron Announces Quarterly Dividend

    by Oil and gas press -

     The Board of Directors of Chevron Corporation (NYSE: CVX) declared a quarterly dividend of one dollar and nineteen cents($1.19) per share, payable December 10, 2019, to all holders of common stock as shown on the transfer records of the Corporation at the close of business November 18, 2019. Source / More : Chevron Oil and Gas News Undiluted !!! “Sustainability is the new […]

  • Shell announces the next tranche of the share buyback programme

    by Oil and gas press -

    On October 17, 2019 the company completed the previous tranche of its share buyback programme. In aggregate between July 26, 2018 and October 17, 2019, the company repurchased 390,525,007 ordinary shares for an aggregate consideration of $12 billion (the ‘aggregate previous tranches’). The maximum number of ordinary shares which may be purchased by the company […]

  • Equinor awards Hywind Tampen contracts worth NOK 3.3 billion

    by Oil and gas press -

    On behalf of the Gullfaks and Snorre partners, Equinor today signed contracts totalling around NOK 3.3 billion for the Hywind Tampen wind farm development. The contracts have been awarded to Kværner AS, Siemens Gamesa Renewable Energy AS, JDR Cable System Ltd and Subsea 7 AS. “The signing of five major contracts is a key milestone […]

  • Petrobras Adds Managed Hosting Services from Emerson to Boost Efficiency

    by Oil and gas press -

     Emerson (NYSE: EMR) announced today it has signed a multi-year, multi-million dollar agreement with Petróleo Brasileiro S.A. (Petrobras), the Brazilian integrated energy company, for managed hosting services to support Petrobras’ deepwater operations. These services streamline deployment of Emerson’s leading exploration and development software by providing high-performance, remote desktop data management capabilities for both office and […]

  • Total Sells Its Interest in Offshore Block CA1

    by Oil and gas press -

    Total has signed an agreement to sell wholly owned subsidiary Total E&P Deep Offshore Borneo BV — which holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei — to Shell1 for $300 million. The transaction is subject to approval by the competent authorities and is expected to close by December […]

  • HESS REPORTS ESTIMATED RESULTS FOR THE THIRD QUARTER OF 2019

    by Oil and gas press -

    Hess Corporation (NYSE: HES) today reported a net loss of $205 million, or $0.68 per common share, in the third quarter of 2019, compared with a net loss of $42 million, or $0.18 per common share, in the third quarter of 2018. On an adjusted basis, the Corporation reported a net loss of $98 million, […]

  • Gazprom feeding natural gas into the Power of Siberia gas pipeline

    by Oil and gas press -

    Gazprom has completed feeding natural gas into the Power of Siberia gas pipeline. The gas from the Chayandinskoye field in Yakutia has reached the near-border gas metering station in the proximity of Blagoveshchensk. Power of Siberia’s linear part is thus ready for the commencement of Russian pipeline gas supplies to China. The next step is to feed gas into the transborder crossing under the Amur River. Source / More […]

  • McDermott Signs MoU with Darwin Clean Fuels

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) today announced the signing of a Memorandum of Understanding (MOU) with Darwin Clean Fuels Pty Ltd. The MOU is for the feasibility study, technology, front-end engineering design (FEED) and engineering procurement and construction (EPC) for a Clean Fuels Condensate Processing Plant in Darwin, in the Northern Territory, Australia. “The refinery […]

  • Baker Hughes Company Announces Third Quarter 2019 Results

    by Oil and gas press -

    Baker Hughes Company (NYSE: BKR) (“Baker Hughes” or the “Company”) announced results today for the third quarter of 2019. Revenue of $5.9 billion for the quarter, down 2% sequentially and up 4% year-over-year. GAAP operating income of $297 million for the quarter, increased 10% sequentially and increased 5% year-over-year Adjusted operating income (a non-GAAP measure) of […]

  • Total announces the third 2019 interim dividend

    by Oil and gas press -

    On October 29, 2019, the Board of Directors decided the distribution of the third 2019 interim dividend at an amount of €0.68/share, i.e. an increase of 6% compared to the 2018 interim and final dividends.  This decision reflects the immediate implementation of the policy announced on September 24, 2019, to accelerate dividend growth in the […]

  • Neste releases the blueprints of the Nolla cabin

    by Oil and gas press -

    Nolla cabin – a sustainable summer cottage built in 2018 – was envisioned by Robin Falck and developed by Neste on the ideal of simple lifestyle with minimal to no emissions. Wanting to further support sustainable ways of living and travelling, Neste is organising a competition where 12 lucky winners can obtain the blueprints of the Nolla cabin. Nolla, […]

  • SunPower Building 35-Megawatt DC Solar Project for Chevron’s Lost Hills Oil Field

    by Oil and gas press -

    SunPower (NASDAQ:SPWR) today announced construction is underway on the Lost Hills Solar Project. The 35-megawatt DC (29-megawatt AC) system will feature Performance Series solar panels assembled in Hillsboro, Oregon, and deliver low-carbon electricity to Chevron’s (NYSE: CVX) Lost Hills oil field in Kern County, Calif., under a power purchase agreement. Over the project’s term of […]

  • Worley acquires offshore wind energy specialist 3sun Group

    by Oil and gas press -

    We are delighted to announce the acquisition of 3sun Group (3sun), the UK-based installation, inspection and maintenance specialists in the offshore wind sector. The transaction will combine the companies’ complementary offshore capabilities to bring a complete engineering, procurement, construction, operations and maintenance offering to the global offshore wind market. In doing so it will further […]

  • Saudi Aramco signs seven MoUs at The Future Investment Initiative in Saudi Arabia

    by Oil and gas press -

    Saudi Aramco today announced its intention to establish the Jazan Power Joint Venture. The JV will be 46% owned by Air Products, 25% by ACWA Power, 20% by Saudi Aramco and 9% by Air Products Qudra. In addition, the Company signed seven MoUs at the Future Investment Initiative (FII) in Riyadh, Saudi Arabia. Ahmad A. […]

  • Hess Announces Gulf of Mexico Oil Discovery

    by Oil and gas press -

    Hess Corporation (NYSE:HES) today announced an oil discovery at the Esox-1 exploration well located in Mississippi Canyon Block No. 726 in the deepwater Gulf of Mexico. Esox-1 was drilled in 4,609 feet (1,405 meters) of water and encountered approximately 191 net feet (58 meters) of high quality oil bearing Miocene reservoirs. Esox-1 is located approximately […]

  • Halliburton and Repsol Sign Cloud Data Management Agreement

    by Oil and gas press -

    Halliburton Company (NYSE: HAL) announced a multi-year agreement with Repsol to provide a cloud-based master data management solution for exploration and production (E&P) activities. The software as a service enables users to load, ingest, manage and access log, well and other E&P data across different locations for greater efficiency and productivity throughout Repsol’s asset portfolio. […]

  • Petrofac secures three engineering contracts in MENA

    by Oil and gas press -

    Petrofac will provide FEED and conceptualisation studies to clients in Oman and Libya following the award of a clutch of new contracts. In Oman, Petrofac will support Flare to Value LLC (F2V) by producing a basic engineering package to recover gas that is currently flared at three onshore locations. Petrofac’s focus will be on the […]

  • BP Release Third quarter 2019 results

    by Oil and gas press -

    Financial results Underlying replacement cost profit for the third quarter of 2019 was $2.3 billion, compared to $3.8 billion a year earlier. The result was impacted by significantly lower Upstream earnings, resulting from lower prices, maintenance and weather impacts. A divestment-related, non-cash, non-operating after-tax charge of $2.6 billion resulted in a reported loss for the […]

  • Eni, CDP, Fincantieri and Terna join forces

    by Oil and gas press -

    In the presence of the Prime Minister, Giuseppe Conte, the Chief Executive Officers of Cassa Depositi e Prestiti, Fabrizio Palermo, of Fincantieri, Giuseppe Bono, of Terna, Luigi Ferraris, and of Eni, Claudio Descalzi, signed today in Ravenna an agreement to set up a company for the development and manufacturing of wave-energy power plants. This agreement, […]

  • Gina Krog, Ivar Aasen and Edvard Grieg fields to be powered from shore

    by Oil and gas press -

    From 2022 the Johan Sverdrup field will supply the Gina Krog, Ivar Aasen and Edvard Grieg fields with power from shore. The area’s licence partners have recently agreed on maximizing the utilization of power from shore to the area by enabling partial electrification of the Sleipner field centre as well. The overall area solution will […]

  • Major Gas Discovery Offshore Mauritania

    by Oil and gas press -

    Kosmos Energy (NYSE/LSE: KOS) announced today that the Orca-1 exploration well has made a major gas discovery offshore Mauritania in the BirAllah area. The results continue the 100 percent success rate from nine wells targeting the inboard gas trend in Mauritania/Senegal. The Orca-1 well, which targeted a previously untested Albian play, exceeded pre-drill expectations encountering […]

  • McDermott on track with PEMEX Abkatun-A2 Platform

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) today announced substantial completion of PEMEX Exploracion y Produccion’s Abkatun-A2 Platform. The production platform is located in Mexico’s Bay of Campeche in the Gulf of Mexico. This milestone means the platform has now been turned over to the owner to begin commercial operations. “With substantial completion of the Abkatun-A2 Platform […]

  • Cairn complete first well in its drilling programme offshore Mexico

    by Oil and gas press -

    The exploration target of the Alom-1 well on Block 9 was to prove hydrocarbons in stacked Pleistocene targets. The objectives were found to be dry and the well will now be permanently plugged and abandoned. Data has been collected and preliminary analysis indicates that the well encountered over 500 metres (m) of high-quality water bearing […]

  • Cairn announce India Arbitration Update

    by Oil and gas press -

    Cairn is announcing an update on its proceedings against India under the UK-India Bilateral Investment Treaty. The Arbitral Tribunal has indicated that, whilst it is not yet able to commit to a specific award release date, it expects to be in a position to issue the Award in the summer of 2020. In compliance with […]

  • Kvaerner Third quarter results 2019

    by Oil and gas press -

    Kvaerner had high revenues and order intake in the third quarter, compared to the same period one year ago. The company has financial strength and a market outlook with key prospects, which together support the company’s long term strategy to grow its business, including expansion in new segments. In the third quarter 2019, Kvaerner’s total […]

  • SDX COMMENCE DRILLING OPERATIONS IN MOROCCO

    by Oil and gas press -

    SDX Energy Plc (AIM: SDX), the MENA-focused oil and gas company, announced the commencement of a 12 well drilling campaign, targeting a mean 15bcf of gross unrisked prospective resources, in its operated Gharb Basin (SDX: 75% working interest) acreage in Morocco. The first seven wells located in the Company’s core producing concessions at Sebou and […]

  • BP invests $5m in Finite Resources

    by Oil and gas press -

    BP Ventures has invested $5 million in Finite Resources Inc, parent company of Finite Carbon, a US-based forest carbon management company. The investment will enable Finite Carbon to grow a new line of business to incentivize sustainable forest management, financed by businesses seeking to voluntarily offset carbon emissions. Finite Carbon was founded in 2009 and […]

  • Mubadala makes US$50 Million investment in NextDecade

    by Oil and gas press -

    NextDecade Corporation (NASDAQ: NEXT) and Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, announced that they have reached agreement for Mubadala to purchase US$50 million of NextDecade’s common stock in a private placement. NextDecade will issue the common stock to Mubadala at a price of US$6.27 per share. Mubadala’s investment further strengthens NextDecade’s capital […]

  • Zhonghua Gas Holdings Limited Signs MOU

    by Oil and gas press -

    HONG KONG, Oct 25, 2019 – (ACN Newswire) – Zhonghua Gas Holdings Limited (the “Company”; Stock Code: 8246) together with its subsidiaries (collective namely the “Zhonghua Gas”) today announces that it has signed a Memorandum of Understanding (“MOU”) with Shanghai Jiulian Group Co., Ltd (namely the “Shenergy Jiulian”), a wholly-owned subsidiary of Shenergy (Group) Co., […]

  • Neste Gets Care Award of Sustainable Workplace

    by Oil and gas press -

    Neste has won the widely recognized Sustainable Workplace Award 2019 by the European Chemical Industry Council (Cefic). The awards were presented on 24 October 2019 in Cefic’s Chemical Convention in Helsinki. Other award categories were Chemical Safety Award, Environmental Responsibility Award and National Associations Award. According to the Sustainable Workplace Award criteria, Neste as the winning organization […]

  • Eni discovers New resources in the Gulf of Suez offshore Egypt

    by Oil and gas press -

    Eni announces the discovery of new resources in the Abu Rudeis Sidri development lease, in the Gulf of Suez, where the operating company Petrobel, equally held by Eni and by the Egyptian General Petroleum Corporation (EGPC), drilled an appraisal well of the discovery of Sidri South, announced last July. The Sidri 36 appraisal well, drilled […]

  • IMF Staff Concludes 2019 Article IV Consultation Mission to Ghana

    by Oil and gas press -

    An International Monetary Fund (IMF) team, led by Carlo Sdralevich, visited Accra September 30-October 11, 2019 to conduct discussions on the 2019 Article IV Consultation, which was concluded in Washington, D.C. on the occasion of the 2019 IMF and World Bank Annual Meetings. The team held constructive and candid discussions with Vice President Bawumia, Finance […]

  • AltaGas Acquired by PSP Investments and ATRF in a $1.7 Billion Transaction

    by Oil and gas press -

    AltaGas Canada Inc. (“ACI”) (TSX: ACI), the Public Sector Pension Investment Board (“PSP Investments”), and the Alberta Teachers’ Retirement Fund Board (“ATRF”) announced that PSP Investments and ATRF (together, the “Consortium”) and ACI have concluded a definitive arrangement agreement (the “Arrangement Agreement”) whereby the Consortium will indirectly acquire all of the issued and outstanding common […]

  • Eni makes “No Go” Commitment for UNESCO Natural World Heritage Sites

    by Oil and gas press -

    Eni formally committed today not to perform oil and gas exploration and development activities within the boundaries of Natural Sites included in the UNESCO World Heritage List. The commitment gives official recognition to a policy that Eni is already following in its operations. It is another important step in the company’s transformation. Building on its […]

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