Neptune targets further spending cuts in 2021, declares $200m dividend
Bosses at private-equity backed Neptune Energy are targeting further reductions in spending in 2021.
oil
Strong showing from Kraken boosts Bumi Armada profits
Profits at Bumi Armada jumped last year thanks to a strong showing from its Armada Kraken FPSO in the North Sea.
Malaysia unveils deep-water and CCS opportunities
Petronas MPM reckons there is at least 6 billion barrels of oil equivalent (boe) waiting to be discovered in Malaysia’s deep waters.
Apache losses widen during ‘banner year’ for exploration
Bosses at Apache Corporation hailed the firm’s response to the Covid pandemic and price crash despite pre-tax losses widening to £3.4 billion in 2020 from £2.1bn the previous year.
Petronas strikes oil off Indonesia
Malaysian national oil company (NOC) Petronas has hit oil at its North Madura II production-sharing contract (PSC) offshore East Java, Indonesia.
CEO Looney wants BP’s oil business to be ‘best, not biggest’
BP chief executive Bernard Looney said today that he wants the company's oil business to be “the best, not the biggest”.
Pertamina tussles with Chevron over Rokan EOR
Indonesian national oil company (NOC) Pertamina has so far failed to agree a commercial deal with Chevron for a key chemical formula that is critical for enhanced oil recovery (EOR) efforts at the legacy Rokan Block.
Philippines pushing for upstream renaissance
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
Hibiscus and Ithaca to decide on joint North Sea development project this week
Malaysian operator Hibiscus Petroleum and Ithaca Energy expect to decide whether they can jointly develop a pair of North Sea fields by the end of this week.
Malaysia’s DNeX taking Ping Petroleum stake to 90%
Malaysian IT and energy sector service provider Dagang Nexchange (DNeX) has reached a deal to take its shareholding in North Sea minnow Ping Petroleum to 90%.
Woodside slammed for Myanmar stance
Human rights groups and industry executives have slammed Woodside Energy’s rationale to proceed with a major gas development and exploration campaign in Myanmar following a military coup and subsequent bloody protests.
John Swinney accused of ‘dithering’ over offshore worker quarantine exemption
John Swinney has been accused of “dithering” over a coronavirus quarantine exemption for oil and gas staff amid growing anger over a lack of clear answers for workers and their families.
Losses widen at Fugro, but offshore wind growth gives hope
Losses widened at Dutch geo-data services firm Fugro last year due to the impact of the Covid-19 pandemic and the oil and gas industry downturn.
PTTEP and Petronas start up key Malaysian deep-water gas field
News that Thailand’s PTT Exploration & Production (PTTEP) and Petronas have started first deep-water gas production from Block H bodes well for Malaysia’s vision to attract further investment in its deeper waters.
Pertamina seeks international partners to boost Indonesia upstream
Indonesian national oil company (NOC) Pertamina is seeking to farm-down stakes in some of its key domestic assets taken over from international oil companies (IOCs) exiting Indonesia.
Cairn Energy attempts to seize Indian assets over tax dispute
Cairn Energy is increasing pressure on the Indian government to pay a $1.2 billion arbitration award after filing a lawsuit in the U.S.
Santos eyes growth projects, readies Barossa LNG
Australia’s Santos today confirmed its Barossa liquefied natural gas (LNG) export project is on track for final investment approval during first half 2021 after reporting a net loss of $357 million for 2020.
Woodside readies giant Scarborough project despite $4bn loss
Woodside Petroleum reported a net loss of almost $4.03 billion for 2020 despite delivering a record full-year production of 100.3 million barrels of oil equivalent (boe). Still, its proposed $12 billion Scarborough liquefied natural gas (LNG) export project in Australia remains on track for final investment approval later this year.
Petronas tests explosion-proof robot dog offshore
Malaysian national oil company (NOC) Petronas and robotics company ANYbotics are co-developing a four-legged dog-like robot for autonomous robotic inspection at offshore oil and gas platforms.
India’s ONGC to boost deep-water KG gas volumes
India’s state-backed Oil & Natural Gas Corporation (ONGC) is set to boost deep-water gas production from the Krishna Godavari (KG) basin to between 2.5 million and 3 million cubic meters per day (cm/d) by May this year.
BHP is bullish on oil and gas, eyes deals
BHP Group on Tuesday said it sees a clear opportunity in oil and gas to enjoy strong returns over the medium term and is ready to seek counter-cyclical deals in a world where many energy companies have cut back on exploration and new projects.
Indonesia eyes biggest drilling campaign since 2014
The Indonesian government forecasts that 616 new development wells will be drilled across the archipelago this year following a strong rebound in global crude prices.
Series of contract wins sparks recruitment drive at Global E&C
Global Engineering and Construction (E&C) is in the midst of a recruitment drive supported by a series of contract wins worth more than £25 million.
Petronas boosts terms for shallow-water and late-life assets
Petronas MPM hopes to lure investors to Malaysia’s shallow-water and late-life assets after revealing new fiscal terms as part of an ongoing effort to revive its domestic upstream sector. The move could help Malaysia steal a march on neighboring countries.
Rystad expects $15bn of Australasia upstream projects to get nod
New upstream oil and gas projects worth about $15 billion will be sanctioned in Australasia this year, according to Rystad Energy’s forecast, marking a huge boost compared to the $1.2 billion committed to new projects in 2020.