The sinking of Velesto Energy’s NAGA (dragon) 7 jack-up rig offshore Malaysia has prompted investment firm CGS-CIMB to upgrade the drilling company as the closed-door investigation into the accident continues.
Seadrill Partners will use its West Capella drillship to drill four wells offshore Malaysia for an unnamed client in a deal worth about $43 million.
Aker Solutions’ order intake and backlog both grew by about a fifth during the first quarter of 2021.
Malaysia’s Velesto Energy is evaluating potential recovery options for its jack-up drilling rig NAGA (dragon) 7 that sunk off the Malaysian state of Sarawak while working for ConocoPhillips.
ConocoPhillips will use a rebound in oil and gas prices to cut debt by about 25% over the next five years, signaling a focus on financial prudence even after completing one of the biggest shale takeovers in recent years.
A jack-up drilling rig owned by Malaysia’s Velesto Energy, and working for ConocoPhillips, off the Malaysian state of Sarawak, has sunk.
CNOOC, China’s third-largest oil company, confirmed it has extinguished a fire at a platform on its Penglai fields in northeast China. The fire is expected to cut crude output at the Penglai 19-3 field by around 600,000 barrels this year.
Three crew members are missing following a well blowout and fire at an oil production platform in the Bohai Sea in northeastern China earlier this week that stopped operations at one of the country’s largest oil fields.
New York City suffered another setback in its effort to make Exxon Mobil Corp., BP Plc and other energy companies help cover the public costs of dealing with climate change, as a federal appeals court ruled the global problem demands political rather than legal action.
East Timor is considering building a liquefied natural gas (LNG) import terminal and converting oil-fired power plants to gas in an effort to slash energy supply costs and cut greenhouse gas emissions. The move seems slightly ironic given the country advocated developing an LNG export complex for much of the past decade.
ConocoPhillips is set to drill up to three wells off the Malaysian state of Sarawak after hiring a jack-up drilling rig from Malaysia’s Velesto Energy.
The U.S. Securities and Exchange Commission has told ConocoPhillips and Occidental Petroleum to hold shareholder votes on new emissions targets, Financial Times reported, citing a letter the SEC sent to ConocoPhillips that the publication has seen.
Repsol is studying the potential of a giant geological carbon capture and storage project in Sakakemang in Indonesia.
US President Joe Biden’s decision to cancel the Keystone XL pipeline is sparking renewed interest in shipping Canadian oil-sands crude by rail, and that comes with its own environmental risks.
Malaysia has awarded shallow-water exploration Block SB405 to U.S. major ConocoPhillips off the coast of Sabah.
Diving contractors have good reason to be cautiously optimistic for the rest of 2021, according to new research from Aberdeen-based energy market intelligence firm Archer Knight.
US oil majors ExxonMobil, Chevron and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.
Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.
This coming decade will be defined by three historic, global challenges: building a resilient recovery from the devastating Covid-19 pandemic; achieving the UN goal of universal access to energy for all populations; and charting an ambitious course - at COP26 and beyond - for tackling the threat we all face from the climate emergency.
S&P Global Ratings has downgraded its outlook for a number of energy majors, driven by concerns around the energy transition and pressure on profitability.
Westwood Global Energy reports that there were four exploration well programmes active as of December 28. Three exploration well programmes were spudded in December and two exploration programmes completed.
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.
The West of Shetland oil and gas (WoS) basin has long been held aloft as the UK’s last great hope for indigenous oil and gas production growth.
The Health and Safety Executive (HSE) has criticised Chrysaor after failing to maintain the launching system for its only lifeboat on board the Jade platform.
Repsol’s potential fast-track development of its Kali Berau Dalam (KBD) giant gas discovery in Indonesia is at risk as the company struggles to agree an attractive sales price with the government.