Petronas has made a first discovery offshore Suriname, in Block 52, at the Sloanea-1 exploration well.
“We set it up from day one to focus on free cash flow and, as we’ve grown, that strategy really hasn’t changed. The industry has operated for too long on negative free cash flow.”
The direction of travel appears clear; around a quarter of the current offshore floater rig fleet - ships and semi-submersibles - will be sent to the scrapyard near-term.
ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc.
Trafigura Group Ltd. denied bribery allegations leveled by Brazilian prosecutors in a civil lawsuit claiming the commodities trader and its staff participated in a kickback scheme to win business with state oil producer Petroleo Brasileiro SA.
Scottish oil and gas drilling giant KCA Deutag is changing hands as part of a financial restructuring to slash debt.
Bahamas Petroleum Company (BPC) said today that measures put in place to tackle Covid-19 had led to a 15% increase to the cost estimate for its Perseverance well.
Six American oil executives held for three years in Venezuela have been found guilty of corruption charges by a judge and immediately sentenced to prison.
The Joe Biden climate plan, Energy sector experts breakdown what to expect as the new US President looks to change the country's climate change stance.
Total has picked Maersk Drilling to supply two rigs for an exploration and appraisal project off Suriname as part of a deal worth around $100 million.
The number of bankruptcies in the energy sector rose during the third quarter as the coronavirus pandemic continued to take its toll on the oil and gas industry.
Backers of the Costa Azul LNG export plant in Mexico have reached a final investment decision (FID), the first to be taken globally this year.
Independent exploration and production (E&P) firms that fail to adjust to the energy transition face extinction before 2050, an analyst said today.
The Tanager 1 well is a non-commercial discovery, on a standalone basis.
Organisers of the Offshore Technology Conference (OTC) in Houston have postponed the 2021 event until August due to the Covid-19 pandemic.
Sasol’s low-density polyethylene (LDPE) unit in Louisiana has reached beneficial operation, the last part of the Lake Charles Chemicals Project (LCCP) to start up.
Energy service giant Wood has completed the sale of its stake in TransCanada Turbines to joint venture partner TC Energy for £51 million.
Novel injection, dispersion & mixing technology combats refinery corrosion
Tems International, an Aberdeen-based supplier of environmental management and compliance services to oil and gas exploration and production companies, said yesterday it had secured a major contract for work in offshore Trinidad and Tobago.
Dutch shipbuilder SBM Offshore has seen underlying revenues increase by 16% thanks to major orders for FPSO vessels in Guyana.
Occidental Petroleum Corp. became the first major U.S. oil producer to aim for net zero emissions from everything it extracts and sells, accelerating an industry trend that’s become commonplace in Europe.
Shell will push for the reversal of President Donald Trump’s rollback of methane emissions rules and the introduction of carbon pricing when Joe Biden moves into the White House next year.
Prosafe has secured a contract extension worth £21.7million for its Safe Notos vessel with Petrobras.
Biden’s victory could end up reshaping the US energy sector in years to come, although the president-elect may have limited room to maneuver given that control of the Senate remains unclear.