UK offshore exploration drilling is on course to slump this year to its lowest level since companies starting scouring the North Sea for oil in the mid-1960s.
Total has reached a deal to transfer its stakes in five exploration blocks in the Foz do Amazonas Basin, offshore Brazil, to Petrobras.
Total SE will halt oil refining in the Paris region and spend more than 500 million euros ($582 million) by 2024 replacing its facility with renewable-fuel and bioplastic plants.
New technology will enable offshore workers to talk to and text robots working around oil and gas platforms.
Upstream investment firm Reabold Resources has hailed a significant boost to its footprint west of Shetland through its stake in Corallian Energy.
Oil majors may be "pushed" to sell or swap more than $100billion of assets due to the energy transition, according to Rystad Energy.
Five more energy service firms have agreed to help develop an alternative to a key UK North Sea collective bargaining agreement that is being scrapped.
BP Plc offered a glimpse of the profitability of its huge and secretive trading arm, suggesting it makes annual returns of as much as $2.5 billion.
Uganda has signed a host government agreement (HGA) with Total on the East Africa Crude Oil Pipeline (EACOP), followed by new declarations with Tanzania on the link.
Few companies are paying down debt while staying bullish on exploration plans, but Africa Oil is an exception.
North Sea helicopter bosses created some turbulence of their own last month with eyebrow-raising statements about competition and pricing pressures.
Equinor revealed today that several wells on the Martin Linge field, offshore Norway, had barrier “deficiencies” and could no longer be used for production.
Friends of the Earth (FoE) has issued a legal challenge to the UK government’s decision to support Mozambique LNG.
It’s been a long and costly two decades of carbon capture and storage (CCS) studies and test centers. Now Europe has reached a stage where big-scale developments make financial sense and could trigger up to $35 billion in development spending until 2035 – by which time as much as 75 million tonnes of CO2 could be captured and stored per year on the continent, a Rystad Energy analysis shows.
Should the government stump up some of the cash it was going to pay out for decommissioning ahead of time, in order to get the ball rolling? Decom North Sea thinks so, although other opinions are available. At a time when the national debt is hitting record levels, and a number of sectors are calling for help, the government may not want to help out the oil and gas industry.
Shell will "compensate" vessel accommodation owner Prosafe for a 10-month deferral of a UK North Sea contract.
Westwood Global Energy reports that as of September 2 there were two exploration wells active in the UK, with one in the central North Sea and one in the northern North Sea. So far in 2020, three exploration wells have completed. There has been no appraisal drilling yet this year.
Bosses behind a north-east, emissions-busting project said carbon capture represented a “tremendous opportunity” for oil and gas skills to be transferred over to clean-energy.
The COVID-19 pandemic has triggered one of the most volatile periods on record for energy markets, not least within the LNG industry.
Total and Macquarie’s Green Investment Group (GIG) will jointly develop five floating wind farms with total capacity of more than 2 gigawatts (GW) off South Korea.
The Dalia floating production, storage and offloading (FPSO) vessel has produced 1 billion barrels of oil, offshore Angola.
Total has spudded the Luiperd-1X well, offshore South Africa, as ExxonMobil has confirmed its exit from the state.
Angola is making progress on its reform plans, issuing tenders for work, while Total is moving to restart offshore drilling.
Neptune Energy said positive drilling results and further appraisal work on the Isabella discovery would lead to a “marginal” rise in exploration spend this year.
CNOOC has confirmed the deferral of Buzzard Phase 2, a major project to extend the life of one of the North Sea’s largest-producing oil fields.