Partners Exxon Mobil, Hess Corp. and CNOOC Nexen Petroleum are making progress toward development of the hydrocarbon bounty discovered offshore Guyana.
The world’s biggest oil traders are gearing up to cash in on big disruptions that could hit the shipping fuel market in just over a year due to new U.N.-mandated environmental rules.
Saudi Aramco has signed 15 memoranda of understanding (MoUs) and strategic/commercial collaborations with 15 international companies from eight different countries.
Italian oil major Eni and French energy major Total signed an agreement with Algeria’s state-owned oil company Sonatrach, for offshore exploration in the North African country.
The Turkish drillship Fatih is set to begin its first drilling campaign in the Eastern Mediterranean, a move that is likely to increase tensions between Greece, Turkey and Cyprus over offshore rights.
The semisubmersible Songa Enabler has completed the Skruis exploration wellin license PL532, 8 km (5 mi) north of the Johan Castberg oil field in the Barents Sea.
Wood Mackenzie forecasts that global oil and gas development spend needs to increase by around 20 percent to meet future demand growth and ensure companies sustain production next decade.
Iran's crude oil exports and production have declined since the May 2018 announcement by the United States that it would withdraw from the JCPOA and reinstate sanctions against Iran, according to EIA.
Austria's energy group OMV has postponed an investment decision on its Black Sea exploration project until next year because the Romanian government took too long to set the framework conditions, its chief executive said.
