Latest Release

  • DANA GAS SPUDS WELL IN EGYPT CONCESSION AREA

    by Oil and gas press -

    Dana Gas PJSC (“Company”), the Middle East’s largest regional private sector natural gas company, today announced it has commenced drilling operations on 20 May at its Merak-1 well, offshore Egypt. The location is in 755 meters of water in the North El Arish concession, also known as Block 6. This block is in the Eastern […]

  • Saudi Aramco and Sempra Energy sign a heads of agreement (HOA)

    by Oil and gas press -

    Sempra Energy (NYSE:SRE) and Saudi Aramco today announced their respective subsidiaries, Sempra LNG and Aramco Services Company, have signed a heads of agreement (HOA). The HOA anticipates the negotiation and finalization of a definitive 20-year liquefied natural gas (LNG) sale-and-purchase agreement (SPA) for five million tonnes per annum (Mtpa) of LNG offtake from Phase 1 […]

  • Golar reports Interim results for the period ended 31 March 2019

    by Oil and gas press -

    Business Performance Golar reports today 1Q 2019 (“1Q”) operating income of $28.9 million compared to a $102.8 million loss in 4Q 2018 (“4Q”). Total operating revenues net of voyage, charterhire and commission expenses decreased from $141.9 million in 4Q to $97.8 million in 1Q. Of the 1Q total, $43.6 million is derived from vessel and […]

  • Equinor awards NOK 700 million Johan Sverdrup contract

    by Oil and gas press -

    Equinor awarded a contract for services within insulation, scaffolding and surface treatment (ISO) on the Johan Sverdrup field to Kaefer Energy AS. Awarded under an already existing framework agreement for operations the contract has an estimated value of more than NOK 700 million. This includes both ordinary operations and maintenance work, and work associated with […]

  • CNRL Announces Normal Course Issuer Bid

    by Oil and gas press -

    Canadian Natural Resources Limited (“Canadian Natural”) announced today that the Toronto Stock Exchange has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid (“NCIB”) through the facilities of the Toronto Stock Exchange or other alternative Canadian trading systems. Purchases may also be made through the facilities of the […]

  • Roxtec UK awarded cable sealing solution contract for Sellafield project

    by Oil and gas press -

    Roxtec UK is supplying Sellafield – Britain’s biggest nuclear site – with specialist cable sealing solutions to support a major overhaul to infrastructure. The Manchester firm has been awarded the contract by Sellafield’s Infrastructure Strategic Alliance (ISA). The ISA is an integrated team which consists of three delivery partners; Sellafield Ltd, Morgan Sindall Infrastructure and […]

  • Eni awarded exploration block in Argentina’s offshore

    by Oil and gas press -

    The Argentinian authorities officially awarded the exploration license of offshore block MLO 124 to an Eni-led consortium. The award is the outcome of the consortium’s successful bid in the International Bid Round “Ronda Costa Afuera n. 1” held on 16 April 2019. Block MLO 124 is located offshore in the Cuenca Marina Malvinas (the Malvinas […]

  • ExxonMobil Permian development aims to generate $64 billion in New Mexico

    by Oil and gas press -

    ExxonMobil said a new study estimates the company’s development of Permian Basin resources in New Mexico will generate approximately $64 billion in net economic benefits for the state and local communities over the next 40 years, creating thousands of new jobs and providing increased funding for education, health and human services and infrastructure improvements. Study […]

  • Global energy investment stabilised above USD 1.8 trillion in 2018

    by Oil and gas press -

    Global energy investment stabilised in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables, according to the International Energy Agency’s latest annual review. The findings of the World Energy Investment 2019 report signal a growing mismatch between current trends and […]

  • Eni and Sonatrach strengthen relationship

    by Oil and gas press -

    Eni and Sonatrach have signed agreements to renew the gas supply contract to import Algerian gas into Italy until 2027 (plus two further optional years) also defining the transportation arrangements through the pipeline crossing the Mediterranean Sea. These agreements follow in the steps of a partnership on gas supply and transportation that was established more […]

  • Access U.S. state energy information in one place

    by Oil and gas press -

    EIA launched its new State Energy Portal today. Designed to deliver timely state-specific energy information in one place, the new portal has customizable visualizations that automatically populate each time a user returns to the page. The portal provides answers to questions about key energy issues for the 50 states (and the District of Columbia), 5 territories, and […]

  • C-Kore Cable Monitor Units deployed in Africa for first time

    by Oil and gas press -

    C-Kore systems recently completed their first deployment with VAYCO Oil Tools and local Nigerian partner Cranium Engineering on an asset integrity verification operation for a major oil operator off the coast of Nigeria. The C-Kore units saved vessel time and deferment on the deployment, proving the integrity of the entire network from a single location. […]

  • First regional aviation ‘Perfect Flight’ in Sweden

    by Oil and gas press -

    Today, a number of companies from across the aviation sector have risen to the challenge of turning a typical weekday service from Halmstad City airport (HAD/ESMT) to Stockholm Bromma airport (BMA/ESSB) into the ‘Perfect Flight’. This is the first time that every element in the flight management process on a regional flight has been optimised […]

  • Wood launches new power price forecasting service

    by Oil and gas press -

    Wood has launched a new power price forecasting (PPF) service to help provide customers with greater certainty around the financial return they can expect from investment in renewable energy projects. In recent years, significant reductions in renewable energy generation costs has seen many governments remove the financial subsidies traditionally available for renewable projects and instead […]

  • Hess Ranked Top Oil and Gas Company on 2019 Best Corporate Citizens List

    by Oil and gas press -

    Hess Corporation (NYSE: HES) has earned a place as the No. 1 oil and gas company on Corporate Responsibility magazine’s prestigious list of 100 Best Corporate Citizens of 2019. The annual list recognizes public companies across the United States for outstanding environmental, social and governance (ESG) transparency and performance. Hess is ranked No. 30 on […]

  • QATARGAS SETS WORLD RECORD WITH Q-FLEX TRANSIT OF PANAMA CANAL

    by Oil and gas press -

    ​​Qatargas, the World’s Premier LNG Company, today announced a historic milestone when the ‘Al Safliya” became the first Q-Flex type LNG vessel, and largest LNG vessel by cargo capacity, to transit the Panama Canal. The ‘Al Safliya’, a Q-Flex vessel with a cargo carrying capacity of 210,000 m3 of LNG, a length of 315 meters, […]

  • CNPC and BP steering committee conference

    by Oil and gas press -

    On May 10th, the third CNPC-BP Cooperation Steering Committee Conference was held in London. CNPC Chairman Wang Yilin and BP Group Chief Executive Bob Dudley co-chaired the meeting. The two sides summarized and discussed progress of the past work and the achieved goals, and made arrangements for the next step. They emphasized that based on […]

  • Neste creates sustainable menu to be served on Zero Island

    by Oil and gas press -

    Making sustainable food choices is one of the easiest ways to reduce one’s carbon footprint. To highlight the issue, Neste has developed the Zero Menu, a delicious way to cut emissions. The menu has been developed together with Jonas Svensson, the renowned chef behind restaurants Miss Voon and Mr Voon, who took into account not […]

  • Equinor Reports Oil on the sea surface at Statfjord

    by Oil and gas press -

    In connection with loading oil from buoy to shuttle tanker on the North Sea Statfjord field, oil was observed on the sea surface early this morning, 15 May. The loading operations were stopped when this was discovered, and the loading systems were shut down. Efforts have been initiated to map the extent of the oil […]

  • Gazprom proposes new dividend amount for 2018

    by Oil and gas press -

    The Gazprom Management Committee  held a meeting. The Management Committee reviewed and endorsed the new proposals to the Board of Directors regarding the distribution of Gazprom’s profit and the dividend payout based on the Company’s operating results for 2018. The Management Committee proposed that the dividends make up RUB 393.2 billion, or RUB 16.61 per […]

  • Plan for Johan Sverdrup phase 2 approved

    by Oil and gas press -

    The plan for development and operation (PDO) of the second phase of the Johan Sverdrup field development was formally approved by Norwegian authorities on 15 May. The same day sees the construction start of the field’s second processing platform at Aibel’s yard in Haugesund. “This is a big day for Equinor and the other Johan […]

  • Schlumberger Sells Fishing and Tubulars Businesses and Assets

    by Oil and gas press -

    Wellbore Integrity Solutions (WIS), an affiliate of private equity firm Rhône Capital, and Schlumberger today jointly announced that they have entered into an agreement for WIS to acquire the businesses and associated assets of DRILCO, Thomas Tools, and Fishing & Remedial services, along with part of a manufacturing facility located on Rankin Road in Houston, […]

  • Rovuma LNG development plan approved by Mozambique government

    by Oil and gas press -

    Mozambique Rovuma Venture said today that the government of Mozambique had approved its development plan for the Rovuma LNG project, which will produce, liquefy and market natural gas from three reservoirs located in the Area 4 block offshore Mozambique, two of which straddle the boundary with neighboring Area 1. Rovuma LNG development plan approved by […]

  • Rovuma LNG Development Plan Approved by Mozambique Government

    by Oil and gas press -

    Mozambique Rovuma Venture said today that the government of Mozambique had approved its development plan for the Rovuma LNG project, which will produce, liquefy and market natural gas from three reservoirs of the Mamba complex located in the Area 4 block in the Rovuma basin, two of which straddle the boundary with neighboring Area 1. […]

  • LNG production starts up at Cameron LNG export terminal in Louisiana

    by Oil and gas press -

    The Cameron LNG project has achieved first liquefied natural gas (LNG) production from train 1. The project will begin exports in the coming weeks. “The start-up of the LNG production marks an important milestone for the Cameron LNG project. This achievement is the result of work carried out by all of the teams and project […]

  • Equinor Awards drilling service contracts worth NOK 2.5 billion

    by Oil and gas press -

    Equinor has awarded drilling service contracts at a total value of about NOK 2.5 billion, exclusive of options, to several suppliers. The services will be delivered to both new and existing fields on the Norwegian continental shelf. Contracts for services related to liner hangers were signed in Equinor’s digital laboratory at Forus, Stavanger, on 14 […]

  • Marijuana Industry’s Dirty Little Secret

    by Oil and gas press -

    The cannabis industry is hiding a dirty little secret.  According to Evan Mills, a California-based energy and climate change scientist, the marijuana industry has a major problem…and it’s likely to get worse before it gets better.  “Legislators and energy agencies have largely turned a blind eye to the carbon footprint of indoor cultivation, which already […]

  • Light oil discovery in Block 15/06, offshore Angola

    by Oil and gas press -

    Eni has made a new light oil discovery in Block 15/06, in Angola’s deep offshore. The well was drilled on the Ndungu exploration prospect. The new discovery is estimated to contain up to 250 million barrels of light oil in place, with further upside. The Ndungu-1 NFW well is located a few kilometers from Eni’s […]

  • Sustainability Report shows transformation to tackle global challenges

    by Oil and gas press -

    Eni is releasing today Eni For 2018, its 13th sustainability report, showing how the company is transforming itself to face global challenges and contribute to delivering on the United Nations’ Sustainable Development Goals. Eni For highlights the work Eni has carried forward in 2018 and the targets for the next years in priority areas such […]

  • Manufacturing capacity of specialty elastomers at Newport, Wales plant

    by Oil and gas press -

    ExxonMobil said it has completed an expansion of its specialty elastomers manufacturing plant in Newport, Wales, which doubles the plant’s manufacturing capacity and increases global manufacturing capacity of Santoprene™ thermoplastic elastomers by 25 percent. Specialty thermoplastics help reduce vehicle and consumer product weight, leading to improved fuel efficiency and higher performance Expansion increases global manufacturing […]

  • Low-emission Green Travel service for bus passengers

    by Oil and gas press -

    From mid-May onward, customers with the Savonlinja bus company will be able to opt for a lower-emission journey. In cooperation with Neste, Savonlinja is introducing a surcharge, called Green Travel, on the normal bus ticket price. The customer is free to decide the amount of this additional charge. Savonlinja will use the money collected through […]

  • Renewable Natural Gas (Biomethane)

    by Oil and gas press -

    A sustainable Carbon Neutral Fuel option: NextGen Technological Advancements, Professional Survey The global biomethane is on a growth trajectory mainly due to the green gas characteristic of biomethane. Biomethane is produced by the natural breakdown of organic matter, which includes agricultural waste, green waste, household waste, food industry waste, & even industrial waste. The process […]

  • Equinor to acquire an additional 22.45% interest in the Caesar Tonga oil field

    by Oil and gas press -

    Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of USD 965 million in cash. This will increase Equinor’s interest from 23.55% to 46.00%. Anadarko remains the operator with a 33.75% interest, and Chevron retains its 20.25% interest. […]

  • Sinopec, CNPC Stop Buying Iranian Oil In May

    by Oil and gas press -

    China’s two largest oil companies, CNPC and Sinopec have not ordered any Iranian oil cargoes to load this month after the expiry of the sanction waivers Washington had granted China and seven other Iranian oil importers, Reuters reports, citing unnamed sources. The news comes despite statements from Beijing that it will not comply with the U.S. […]

  • Weatherford to file for Chapter 11 bankruptcy

    by Oil and gas press -

    Weatherford International plc (NYSE: WFT) announced that it has executed a restructuring support agreement (the “Restructuring Agreement”) with a group of its senior noteholders (the “Ad Hoc Noteholder Group”) that collectively holds or controls approximately 62% of the Company’s senior unsecured notes. The proposed comprehensive financial restructuring would significantly reduce the Company’s long-term debt and […]

  • Africa Oil 2019 First Quarter Financial and Operating Results

    by Oil and gas press -

     Africa Oil Corp. (“Africa Oil” or the “Company”) announced its financial and operating results for the three months ended March 31, 2019. View PDF version. HIGHLIGHTS: The Company ended the quarter with cash of $355.2 million and working capital of $321.9 million; During the first quarter of 2019, the Company completed the acquisition of an additional 19,890,560 shares of Impact Oil […]

  • Zhonghua Gas Announces First Quarter Results for the Three Months Ended 31 March 2019

    by Oil and gas press -

    Net Profit Attributable to the Owners Increased by 252.2% to HK$13.1 Million Zhonghua Gas Holdings Limited (the “Company”; Stock Code: 8246) together with its subsidiaries (collective namely the “Group”) today announces that the first quarter results for the three months ended 31 March 2019 (“the Current Period”). Revenue of the Group for the Current Period […]

  • ExxonMobil to invest up to $100m on lower-emissions R&D

    by Oil and gas press -

    ExxonMobil said it will invest up to $100 million over 10 years to research and develop advanced lower-emissions technologies with the U.S. Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory. The agreement – among the largest between the department’s laboratories and the private sector – will support research and collaboration into […]

  • New discovery in CTP-Block 4, offshore Ghana

    by Oil and gas press -

    Eni announces a gas and condensate discovery in CTP-Block 4, offshore Ghana. The well, drilled on the Akoma exploration prospect, proved an estimated volume between 550 and 650 bcf of gas and 18-20 mmbbl of condensate. The discovery has further additional upside for gas and oil that will require further drilling to be confirmed. The […]

  • TAQA records AED 4.3 billion of revenue in Q1 2019

    by Oil and gas press -

    Abu Dhabi National Energy Company PJSC (TAQA) announced its financial results and operational highlights for the three-month period ending March 31, 2019. TAQA recorded AED 4.3 billion of revenue in the quarter. The company reported AED 2.4 billion in EBITDA, an increase of 1% compared to the first three months of the previous year. This […]

  • Chevron Will Not Increase Offer to Acquire Anadarko

    by Oil and gas press -

    Chevron Corporation (NYSE: CVX) announced today that, under the terms of its previously announced Merger Agreement with Anadarko Petroleum Corporation (NYSE: APC), it will not make a counterproposal and will allow the four-day match period to expire. Accordingly, Chevron anticipates that Anadarko will terminate the Merger Agreement. “Winning in any environment doesn’t mean winning at […]

  • ADNOC and ExxonMobil CEOs Discuss New Opportunities

    by Oil and gas press -

    His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC), and Darren W. Woods, Chairman and CEO of Exxon Mobil Corporation (ExxonMobil), met to explore new opportunities for collaboration in the upstream and downstream sectors, and discuss wider regional and business-related developments of […]

  • Qatar Petroleum issues tender for LNG storage

    by Oil and gas press -

    Qatar Petroleum issued an Invitation to Tender Package for Engineering, Procurement and Construction (EPC) to expand its common lean liquefied natural gas (LNG) storage, and the loading and export facilities for its North Field Expansion (NFE) Project. The tender package, which was issued to world class contractors, calls for the engineering, procurement and construction of […]

  • International rig count for April 2019

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE:BHGE) announced that the Baker Hughes international rig count for April 2019 was 1,062, up 23 from the 1,039 counted in March 2019, and up 84 from the 978 counted in April 2018. The international offshore rig count for April 2019 was 251, up 4 from the 247 counted in March 2019, and up 57 from the […]

  • BHGE Wins Subsea Connect Award from Beach Energy

    by Oil and gas press -

    Beach Energy (ASX: BPT) awarded Baker Hughes, a GE company (NYSE: BHGE) a contract to supply subsea production systems for its Victorian Otway Basin development project located in offshore Victoria, Australia. The contract was awarded in the first quarter of 2019 and includes medium water horizontal Xmas trees and associated subsea control Semstar5 systems, in […]

  • Canadian Natural Resources Limited Announces 2019 First Quarter Results

    by Oil and gas press -

    QUARTERLY HIGHLIGHTS Three Months Ended ($ millions, except per common share amounts) Mar 31 2019 Dec 31 2018 Mar 31 2018 Net earnings (loss) $ 961 $ (776 ) $ 583 Per common share  – basic $ 0.80 $ (0.64 ) $ 0.48 – diluted $ 0.80 $ (0.64 ) $ 0.47 Adjusted net earnings (loss) from operations (1) […]

  • Oil Production Booms… But Funding Is Drying Up

    by Oil and gas press -

    North America’s energy-focused private equity firms just saw a five-year low in fund closings and the lowest amount of total capital raised for energy investment since early 2016. During the 2014-2016 period of low oil prices, many energy-focused funds raised billions of U.S. dollars, aiming to invest the money in energy assets at bargain prices. […]

  • Wood wins $1 billion nuclear design and engineering contract in UK

    by Oil and gas press -

    Wood has secured a new contract worth up to $1 billion to provide engineering design services to Sellafield Ltd over the next 20 years. The company has been selected as Design and Engineering Partner at the UK’s most complex nuclear site as part of the new Programme and Project Partners (PPP) procurement model. Sellafield Ltd […]

  • Siemens to build energy focused powerhouse

    by Oil and gas press -

    Siemens intends to meet its medium-term growth and profit targets by clearly focusing its portfolio on dynamic growth markets and efficiency gains. To this end, the Supervisory Board of Siemens AG today unanimously approved the next steps in the company’s Vision 2020+ strategy concept, including the spinoff of Siemens’ Gas and Power (GP). “With Vision […]

  • IMF Concludes 2019 Article IV Consultation with the Kingdom of Bahrain

    by Oil and gas press -

    On April 29, 2019 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with the Kingdom of Bahrain. Lower oil prices since 2014 had widened fiscal and external imbalances and intensified macroeconomic vulnerabilities. The authorities responded with the announcement of the Fiscal Balance Program (FBP) in late 2018, which […]

  • Total donates €100M to help rebuild Notre-Dame de Paris

    by Oil and gas press -

    The fire that ravaged Notre-Dame de Paris cathedral on Monday, April 15 sent shock waves through France and all over the world. Countless people have spoken of their sadness and distress at the damage caused, but also of their hope that the cathedral will be rebuilt quickly. Within Total, many employees and partners have expressed […]

  • BP approves Thunder Horse South Expansion Phase 2

    by Oil and gas press -

    BP has sanctioned development of the Thunder Horse South Expansion Phase 2 project in the deepwater Gulf of Mexico. The project will further boost output at one of the largest oil fields in the Gulf of Mexico and marks BP’s latest major investment in the U.S. offshore region. The project is expected to add an […]

  • ION awarded Hart Energy Meritorious Award

    by Oil and gas press -

    ION Geophysical Corporation (NYSE: IO) today announced the Company was awarded the Hart Energy Meritorious Award for Engineering Innovation in Health, Safety and the Environment (HSE) for its Marlin™ operations optimization software. The Meritorious Awards for Engineering Innovation are the industry’s most established and widely respected engineering awards program. Each year, the world’s best new […]

  • US Boosts Oil Imports from Iraq, Nigeria, Brazil, Angola

    by Oil and gas press -

    US refineries have upped their imports of Iraqi, Nigerian, Brazilian, and Angolan crude oil, with May volumes double that of April levels, data from Refinitiv Eikon showed on Monday. Oil imports from these countries to the United States spiked as oil supply from Iran and Venezuela dried up, and as reduced OPEC production made scarce heavy sour […]

  • Kværner Announce First quarter results 2019

    by Oil and gas press -

    The results for the first three months in 2019 is the 31st quarter in a row where Kvaerner delivers solid, positive results. Per 31 March, the revenues were NOK 2 158 million including joint ventures. The corresponding EBITDA was NOK 137 million, and the EBITDA margin was 6.3 percent. The first quarter ended with a […]

  • TechnipFMC Integrated EPCI (iEPCI™) Subsea Contract by BP

    by Oil and gas press -

    TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract by BP for the Thunder Horse South Expansion 2 Project located in the Gulf of Mexico. TechnipFMC will manufacture, deliver and install subsea equipment, including subsea tree systems, manifolds, flowline, umbilicals and subsea tree jumpers, pipeline end […]

  • Eni and University of Pavia agree new technology development partnership

    by Oil and gas press -

    The President of University of Pavia, Fabio Rugge, and the CEO of Eni, Claudio Descalzi, today signed a framework partnership agreement to work on the strategic areas of operational efficiency, decarbonisation and the circular economy. The University of Pavia, a prestigious centuries-old Athenaeum, will collaborate with Eni to lend its expertise to technological development. The […]

  • Aker Solutions Brings ix3 to Market

    by Oil and gas press -

    Aker Solutions launches ix3(TM) – a software and digital services company that enables operators to accelerate field development projects and optimize asset performance. ix3 has created a digital twin platform called Integral(TM) that brings together engineering, manufacturing and test data with live-streamed operational data. Integral monitors, assesses, maintains and optimizes energy assets from concept to […]

  • Neste MY Renewable Jet Fuel wins award

    by Oil and gas press -

    Neste MY Renewable Jet Fuel has won an award for its role in reducing black carbon emissions in a competition jointly organized by the Climate Leadership Coalition, the Bioenergy Association of Finland, the Finnish Innovation Fund Sitra, the Finnish Environment Institute, and the Central Association of Chimney Sweeps. The purpose of the competition was to […]

  • Norway’s electric car market overtakes traditional vehicle sales

    by Oil and gas press -

    Sales of electric cars in Norway have overtaken traditional vehicles for the first time: 58% of all new vehicles sold in March 2019 were battery-powered. In Norway, drivers of zero emissions cars (those powered by electric or hydrogen) enjoy benefits such as no road tax, exemption from 25% VAT on sales, reduced road and ferry tolls and […]

  • Karoon Completes Block Z-38 Farm-out to Tullow Oil

    by Oil and gas press -

    Karoon Energy Ltd (’Karoon’) announced that the farm-out to Tullow Peru Limited Sucursal del Perú (’Tullow’), a subsidiary of Tullow Oil plc, of a 35% participating interest in offshore exploration Block Z-38 Tumbes Basin Peru, which was announced 10 January 2018, is now complete. Pursuant to the Farmout Agreement Tullow will acquire a 35% interest […]

  • Kosmos Energy Announces First Quarter 2019 Results

    by Oil and gas press -

    Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced today financial and operating results for the first quarter of 2019. For the first quarter of 2019, the Company generated a net loss of $53 million, or $0.13 per diluted share. When adjusted for certain items that impact the comparability of results, the Company generated an adjusted net […]

  • Kosmos Energy Declares Quarterly Dividend

    by Oil and gas press -

    Kosmos Energy (NYSE/LSE: KOS) announced that its Board of Directors has declared a quarterly cash dividend of $0.0452 per common share payable on June 27, 2019, to the stockholders of record at the close of business on June 6, 2019. Holders of common shares on the New York Stock Exchange will be paid in U.S. dollars, and holders of common shares through […]

  • Occidental Announces 1st Quarter 2019 Results

    by Oil and gas press -

    Occidental Petroleum Announces 4th Quarter and Full Year 2018 Results Occidental Petroleum reports 2018 net income of $4.1 billion with ROCE of 14%, the highest since 2014 portfolio optimization; returns more than $3.6 billion to shareholders Q4 cash flow from operations before working capital of $1.9 billion funded capital expenditures and dividends Reserve replacement of […]

  • Total agrees with Occidental to contingent acquisition of Anadarko’s assets in Africa

    by Oil and gas press -

    Total announces that it has reached a binding agreement with Occidental to acquire Anadarko’s assets in Africa (Algeria, Ghana, Mozambique, South Africa) for a consideration of 8.8 billion $ in the event of a successful completion of Occidental’s ongoing bid for Anadarko. The transaction is contingent upon Occidental entering into and completing its proposed acquisition […]

  • Occidental Send Revised Proposal to Acquire Anadarko

    by Oil and gas press -

     Occidental Petroleum Corporation  (NYSE:OXY) delivered a letter to the Board of Directors of Anadarko Petroleum Corporation (“Anadarko”) (NYSE:APC) setting forth the terms of a revised and significantly enhanced superior proposal to acquire Anadarko for $76.00 per share comprised of $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock. The revised proposal, which has been unanimously […]

  • Contingent Sale of Anadarko African Assets to Total for $8.8 Billion

    by Oil and gas press -

    Occidental Petroleum Corporation (NYSE: OXY) announced that, in connection with Occidental’s proposal to acquire Anadarko Petroleum Corporation (“Anadarko”) (NYSE: APC), it has entered into a binding agreement to sell Anadarko’s Algeria, Ghana, Mozambique and South Africa assets to Total S.A. (“Total”) (NYSE: TOT) for $8.8 billion. The sale is contingent upon Occidental entering into and […]

  • Hess Sanctions Liza Phase 2 Development Offshore Guyana

    by Oil and gas press -

    Hess Corporation (NYSE: HES) today announced it has received regulatory approval from the government of Guyana and has made a final investment decision to proceed with the second phase of development of the Liza Field on the Stabroek Block, offshore Guyana. Liza Phase 2 will utilize the Liza Unity Floating Production, Storage and Offloading vessel (FPSO) which will have […]

  • Eni and ETAP to develop renewable energy projects in Tunisia

    by Oil and gas press -

    Eni inaugurated today in Tataouine, in the south of Tunisia, the construction site for a photovoltaic plant with an installed capacity of 10 MW. The project, which was awarded to the ETAP-Eni consortium following a public tender issued by the Tunisian authorities in accordance with the country’s licensing regulations, will supply electricity to the State-owned […]

  • Equinor Announce first quarter 2019 results

    by Oil and gas press -

    Equinor (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 4.19 billion and USD 1.54 billion after tax in the first quarter of 2019. IFRS net operating income was USD 4.73 billion and the IFRS net income was USD 1.71 billion. The first quarter was characterised by: Solid results across all segments Strong cash flow. […]

  • Wood sells Terra Nova Technologies

    by Oil and gas press -

    Wood today confirms it has completed the sale of conveyor systems business Terra Nova Technologies (TNT), as originally announced on 25 March. Following a strategic review of its portfolio, Wood identified potential asset disposals which are expected to generate proceeds in the range of c$200m-c$300m. This transaction makes a good contribution to the asset disposal […]

  • ExxonMobil announces $2 billion Baytown chemical expansion project

    by Oil and gas press -

    ExxonMobil said today that it will proceed with a $2 billion investment to expand its Baytown, Texas chemical plant, which will create approximately 2,000 jobs during construction and contribute to the approximate 15 percent return the company expects from its chemical investments. The Baytown expansion is in addition to the company’s 2017 Growing the Gulf […]

  • Eni and ENEA researching fusion

    by Oil and gas press -

    Federico Testa, President of ENEA, and Claudio Descalzi, Eni CEO, have signed a memorandum of understanding (MoU) setting the stage for collaborative research into magnetic confinement fusion. Specifically, the memorandum of understanding (MoU) sets out the possibility of working to produce clean, safe, sustainable energy using the mechanism that lights up the stars. Source / […]

  • Seplat Announce consolidated interim financial results for the three months ended 31 March 2019

    by Oil and gas press -

    Seplat Petroleum Development Company Plc announced its first quarter results. Information contained within this release is un-audited and is subject to further review. Commenting on the results Austin Avuru, Seplat’s Chief Executive Officer, said: “Our operations have continued to perform in line with expectation, with the phasing of our 2019 work programme such that the […]

  • Wintershall and DEA Complete Merger

    by Oil and gas press -

    Wintershall Holding GmbH (Wintershall) and DEA Deutsche Erdoel AG (DEA) have completed their merger. Wintershall Dea is now the leading independent gas and oil company in Europe. “We are a European champion and are making an important contribution to Europe’s energy security,” explains Mario Mehren, Chairman of the Board of Executive Directors and Chief Executive […]

  • Chevron Acquires Pasadena Refining System, Inc.

    by Oil and gas press -

    Chevron U.S.A. Inc. (CUSA), a wholly owned subsidiary of Chevron Corporation (NYSE: CVX), announced that it has completed the acquisition from Petrobras America Inc. of all the outstanding shares and equity interests of Pasadena Refining System, Inc. (PRSI) and PRSI Trading LLC for $350 million, excluding working capital. PRSI’s 466-acre complex in Pasadena, Texas, adds […]

  • Shell announces the next tranche of the share buyback programme

    by Oil and gas press -

    Royal Dutch Shell plc today announced the commencement of trading in the next tranche of its share buyback programme previously announced on July 26, 2018. In the next tranche, the company has entered into an irrevocable, non-discretionary arrangement with a broker to enable the purchase of A ordinary shares and/or B ordinary shares for a […]

  • Kvaerner to recycle Statfjord A Platform

    by Oil and gas press -

    Kvaerner has been awarded a contract from Allseas for dismantling and recycling of the topside at Equinor’s Statfjord A platform in the the North Sea. The Statfjord A facility was originally built at Kvaerner’s specialised facility at Stord, Norway. 42 years after the tow-out to the field, it is now clear that the platform will […]

  • Wood awarded advisor role on Massachusetts Wind project

    by Oil and gas press -

    Wood has been awarded the role of technical advisor on Vineyard Wind, the first utility-scale wind farm located off the coast of Martha’s Vineyard, an island in Massachusetts, USA. On completion, the 800MW offshore wind farm, which consists of 84 9.5 MW wind turbine generators (WTGs), will be able to meet the energy needs of […]

  • Equinor’s Statfjord A to shut down production in 2022

    by Oil and gas press -

    The Statfjord A platform in the North Sea will shut down production in 2022, 43 years after first oil. This more than doubles the expected lifetime of the platform. Now the contract for removal and disposal of the topside has been signed, and the topside will be demolished at Stord – where it was built […]

  • Shell Release Summary of unaudited results

    by Oil and gas press -

    “Shell has made a strong start to 2019, with the first quarter financial performance demonstrating the strength of our strategy and the quality of our portfolio of assets. The power of our brand, serving millions of customers every day, continues to be a differentiator. Our integrated value chain enabled our Downstream business to deliver robust […]

  • Abu Dhabi Launches Second Bid Round for Five Major Exploration Blocks

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) announced, today – as part of Abu Dhabi’s block licensing strategy and on behalf of the Supreme Petroleum Council (SPC) – the details of the second round of five new geographical oil and gas blocks open for bidding for both conventional and unconventional resources. The successful bidders will […]

  • Eni signs E&P Sharing Agreement for Block 1 offshore Bahrain

    by Oil and gas press -

    Following a joint study conducted by Eni in 2016 and the signature of the Memorandum of Understanding dated 13th January 2019, Eni has signed an Exploration and Production Sharing Agreement (EPSA) with the National Oil and Gas Authority of the Kingdom of Bahrain (NOGA) for Block 1. The signing took place in the presence of […]

  • C-Kore Systems Appoints Sales Manager for South America.

    by Oil and gas press -

    C-Kore Systems is delighted to announce Diego Baraldi has joined the company to represent C-Kore as Sales Manager – South America. Diego has over 15 years of experience in the offshore oil & gas sector, starting his career with Halliburton as Field Engineer and then working for Lupatech as Business Development Manager. For the past […]

  • Tullow Oil Total Voting Rights

    by Oil and gas press -

    In conformity with the FCA’s Disclosure Guidance and Transparency Rules, Tullow Oil plc today announces the following: As at 30 April 2019, Tullow Oil plc’s issued share capital consists of 1,402,491,416 ordinary shares (with a nominal value of 10p each) with voting rights. No ordinary shares are held in treasury. Therefore, the total number of […]

  • Canadian Natural Provides Update on the Scotford Upgrader

    by Oil and gas press -

    Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) provides a follow up report on the event which occurred at the Scotford Upgrader, in which the Company has a 70% interest, on Monday April 15, 2019 at approximately 8:45am. Shell Canada, as Operator of the Scotford Upgrader, along with Strathcona County Emergency Services responded to […]

  • TechnipFMC plc: Total Voting Rights and Share Capital

    by Oil and gas press -

    TechnipFMC plc (NYSE: FTI) (PARIS: FTI) (ISIN: GB00BDSFG982) announces that, in accordance with Disclosure Guidance and Transparency Rule 5.6, it hereby notifies the market that as of 29 April 2019, the Company’s capital consists of 448,119,494 ordinary shares of USD 1.00 each. The Company does not hold any shares in treasury. Therefore, the total number […]

  • Energy flow diagrams and redesigned consumption by source and sector chart

    by Oil and gas press -

    The energy flow diagrams for total energy, petroleum, natural gas, coal, and electricity and the redesigned U.S. energy consumption by source and sector chart were released on April 30, 2019. The flow diagrams show U.S. production and consumption of energy by source. The chart shows the share of each source of energy (petroleum, natural gas, coal, nuclear power, and renewable energy) consumed by […]

  • Transocean Ltd. Reports First Quarter 2019 Results

    by Oil and gas press -

    Transocean Ltd. (NYSE: RIG) reported net loss attributable to controlling interest of $171 million, $0.28 per diluted share, for the three months ended March 31, 2019. First quarter 2019 results included net favorable items of $10 million, or $0.02 per diluted share, as follows: $25 million, $0.05 per diluted share, related to discrete tax items; […]

  • Environmental Concerns Top Priority For Energy Investments

    by Oil and gas press -

    More companies see environmental issues as their top concern when making decisions regarding energy investments, a PwC survey  among UK businesses has found. The PwC & Energy UK B2B Survey found that 46 percent of industrial and commercial businesses planned to invest in renewable energy more than they would invest in any other technology and that […]

  • Big Oil’s Biggest Weapon In The Permian

    by Oil and gas press -

    While European oil supermajors are yielding to investor pressure to set emission reduction targets and announcing investments in renewables and EV charging networks, U.S. majors ExxonMobil and Chevron are doubling down on oil production on their home turf, turning the ‘shale game’ into a ‘scale game’, as Chevron’s CEO Michael Wirth has recently said. The two biggest […]

  • Occidental Acquisition of Anadarko

    by Oil and gas press -

    Berkshire Hathaway Commits to $10 Billion Equity Investment in Occidental to Finance Acquisition of Anadarko. Occidental Petroleum Corporation (“Occidental” or “the Company”) (NYSE: OXY) announced today that, in connection with the financing of Occidental’s proposal to acquire Anadarko Petroleum Corporation (“Anadarko”) (NYSE: APC), Berkshire Hathaway, Inc. has committed to invest a total of $10 billion […]

  • BHGE Announces First Quarter 2019 Results

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE: BHGE) (“BHGE” or the “Company”) announced results today for the first quarter of 2019. *The Company presents its financial results in accordance with GAAP. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see Tables […]

  • Equinor completes transactions with Faroe on NCS assets

    by Oil and gas press -

    Equinor and Faroe Petroleum have completed the series of transactions that were previously announced in December 2018. As a result of these transactions Equinor has strengthened its operated position in the Njord area and remains operator and majority equity holder in Alve, while reducing its exposure to non-core and partner-operated assets. Source / More : […]

  • BP’s First quarter 2019 results

    by Oil and gas press -

    Earnings and cash flow Underlying replacement cost profit for the first quarter of 2019 was $2.4 billion, compared to $2.6 billion a year earlier. The result reflected the weaker price and margin environment at the start of the quarter, partially offset by strong supply and trading results. Operating cash flow, excluding Gulf of Mexico oil […]

  • Seplat Announce consolidated interim financial results for the three months ended 31 March 2019

    by Oil and gas press -

    Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), announced its first quarter results. Information contained within this release is un-audited and is subject to further review. Financial performance summary Revenue of US$160 million (2018: US$181 million) and gross profit of US$81 million (2018: US$93 million) represents a 51% gross profit margin (unchanged year-on-year); Revenue […]

  • Gazprom Announce financial statements for the year ended December 31, 2018

    by Oil and gas press -

    PJSC Gazprom issued its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards for the year ended December 31, 2018. Sales (net of excise tax, VAT and customs duties) increased by RUB 1,678,034 million, or 26%, to RUB 8,224,177 million for the year ended December 31, 2018 compared to the year ended […]

  • Aker Solutions Announce First-Quarter Results 2019

    by Oil and gas press -

    Aker Solutions’ revenues and earnings strengthened in the first quarter of 2019, as the company won new orders and made good progress on its portfolio of projects. 1Q 2019 Financial Highlights (including effects of IFRS 16) Revenue NOK 7.3 billion EBITDA NOK 634 million EBITDA margin 8.7% EBITDA ex. special items NOK 636 million EBITDA […]

  • Wood awarded engineering contract by SABIC in Saudi Arabia

    by Oil and gas press -

    Wood has secured a new contract with SABIC to deliver the engineering design for a world-class petrochemical research centre in the Kingdom of Saudi Arabia. Wood will provide conceptual, basic and detailed design engineering for SABIC’s new 65,000m² technology centre in Jubail Industrial City on Saudi Arabia’s east coast. The scope of work includes engineering […]

  • IMF and China’s Ministry of Finance Sign a New Agreement

    by Oil and gas press -

    On April 24th, the IMF Managing Director Christine Lagarde and China’s Finance Minister LIU Kun signed a new Memorandum of Understanding (MOU) on technical cooperation and training to support China’s fiscal reforms, macro-fiscal issues, and priorities related to the Belt and Road Initiative. The agreement builds on the already close collaboration between the IMF and […]

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