Two years ago, a group of the world’s largest oil companies announced a major commitment to fight climate change, promising to reduce methane emissions from their operations by 20 percent within seven years.
The Covid-19 pandemic has devastated global oil and gas project sanctioning this year and will cause total committed spending to drop to around $53 billion from 2019’s $190 billion, Rystad Energy says.
More than US$500bn worth of project opportunities will be presented by key major project decision makers from around the globe at the Virtual Energy Exports Conference on Monday 28 September to Thursday 1 October (vEEC Week).
Subsea 7 has clinched one-year extensions worth £117 million to the contracts for three pipelay support vessels with Brazilian operator Petrobras.
Extraordinary times call for extraordinary solutions. In response to the travel constraints in Europe, BGS Group, the organizer of PRC Europe 2020, has announced the launch of a new virtual platform - BGS online.
Big Oil is tapping Big Tech to keep drilling off the shores of Brazil even as the global pandemic traps workers at home.
The Libra Consortium has awarded TechnipFMC a huge contract for the Mero phase two project offshore Brazil.
Total and its partners have taken an investment decision for the third phase of the Mero project offshore Brazil.
U.K. prosecutors have frozen a £5 million apartment in west London owned by a Brazilian businessman implicated in the Petrobras bribery scandal.
The floating production systems (FPS) market will rebound to $13 billion annually from 2021-24 with an average oil price of $60 per barrel, analysts have said.
Italian oil and gas contractor Saipem has announced a multi-million pound deal with Petrobras at its Buzios pre-salt field.
The chief executives of 12 major oil and gas firms have written an open letter saying the Covid-19 pandemic won't delay climate action but has instead "sharpened" the focus on it.
National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says Wood Mackenzie.
Vessel-owner Prosafe has reported a significant knockdown in its fleet utilisation rate for the first quarter of 2020.
Petrobras has set out the opportunity for UK firms to help decommission assets from its former “cash cow” Campos basin.
Africa Oil has received its first dividend from its recently acquired Nigerian assets and has directed the cash to pay down a loan.
European and Chinese oil and gas firms are well ahead of US rivals in the energy transition race, new research has found.
Petrobras has concluded the sale of its 50% stake in Petrobras Oil & Gas BV (POGBV), through which it held stakes in Nigeria’s Egina and Agbami fields.
UK headquartered driller Valaris has received a $200 million cash payment after winning a case against Samsung Heavy Industries (SHI).
DecomWorld – part of Reuters Events- today announced the confirmation of over 30 international E&P delegations to attend their 12th Annual D&A Summit (March 31 – 1 April, Houston).
Petrobras is in a state of transformation, company officials said at a press conference in London, with an eye on selling down assets and tackling debt – in tandem with major expansion plans.
A former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol Group to favor the firm in contracts with the crude producer, court documents show.
Brazil’s Petrobras is on track to become the world’s largest oil producer among publicly listed companies by 2030, based on Rystad Energy’s latest data and forecasts.
Brazil had its second failed oil auction in two days, prompting government officials and the head of the state-run producer to criticize bidding rules.
Africa Oil will go it alone in the acquisition of stakes in major fields offshore Nigeria after its partners, Delonex Energy and Vitol Investment Partnership, both withdrew.