Abu Dhabi intends to supply more than 4 million barrels per day of crude in April, following recent moves by Saudi Arabia and Russia to maximise output.
Pharos Energy has set out plans to spend around $45 million in 2020 but has suspended production guidance from Egypt in response to the oil price pressures.
Occidental Petroleum Corp. cut its dividend for the first time in 30 years as the oil producer opts to conserve cash to cover debt incurred in its $37 billion takeover of Anadarko Petroleum Corp. last year.
TransGlobe Energy has responded to the oil market’s recent plunge by slashing planned spending in 2020, from $37.1 million to $7.1mn.
The Valaris DS-8’s blowout preventer (BOP) dropped to the seabed on March 7 and the company is now trying to retrieve it.
A Shell worker has tested positive for coronavirus in Aberdeen as the number of cases across north-east Scotland has increased to six.
Wood chief executive Robin Watson was in bullish mood about future prospects for the global engineering and consultancy company after a sharp increase in profits.
Oil giant Equinor has a confirmed case of coronavirus on one of its assets in the Norwegian section of the North Sea.
Oil’s rebound from its biggest crash in a generation faltered after Saudi Arabia said it would boost its production capacity, while there were also doubts whether the U.S. could deliver sufficient stimulus to support prices.
This week’s oil price meltdown “won’t change” any short-term plans for Cairn Energy but could offer an opportunity, the Scottish oil firm’s boss said yesterday.
Oil and gas firm EnQuest has confirmed plans to decommissioning its fire-damaged Heather Alpha platform in the northern section of the UK North Sea.
The Oil and Gas Authority (OGA) has confirmed there will be no new offshore licensing round in 2020 after implementing a “temporary pause”.
The oil price freefall means projections for the UK’s North Sea revenues are already out of date before the Budget is even published, according to a leading analyst.
Fast growing Texo Group has recruited a workshop manager and 13 new employees as it ramps up its fabrication operations at Port of Blyth.
North-east energy service firm Maritime Developments has secured £5.25 million worth of backing from an “alternative lender”.
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers.
Oil rebounded from its worst loss since 1991 on speculation that potential U.S. tax cuts may shield the market against the coronavirus and a price feud between major producers.
US-based Vaalco Energy reported net income of $2.6 million for 2019 from production of 3,476 barrels per day in Gabon.
Oil and gas firm Neptune Energy has appointed a new UK managing director, based in Aberdeen.
SDX Energy has made a heavy oil discovery at its Rabul-3 well in Egypt, with plans to bring this into production later this month.
Aberdeen-headquartered energy services firm Wood has reported a profit jump in its full year results for 2019.
A price war between two of the world’s biggest oil producers has sparked one of the worst crude routs in decades, putting companies under “huge pressure” and threatening “brutal” cost cuts.
Scottish operator Cairn Energy has continued its drive for profit with positive full year results for 2019.
Oil and gas company Rockrose Energy has announced the completion of the first of two infill development wells at West Brae.
The Health and Safety Executive (HSE) has launched an inquiry after a crane collapsed on a second Valaris oil rig within a month of each other.