Parkmead has been provisionally awarded three new licenses covering three offshore blocks in the UK 28th Licensing Round.
Technip SA swung to a loss in the second quarter after Europe’s biggest oil-services provider took a writedown amid an industry downturn it expects to last for longer than anticipated.
Royal Dutch Shell Plc said it’s preparing for a “prolonged downturn” by cutting thousands of jobs and slashing billions of dollars in investments over the next two years. The shares gained the most in three weeks.
Repsol SA, Spain’s largest oil company, reported a 20% drop in second-quarter earnings as lower crude prices outweighed higher refining margins and led to a loss at its upstream operations.
Eni SpA said second-quarter profit dropped 84% as its oil-and-gas contractor unit Saipem booked $1 billion in writedowns earlier this week after a plunge in crude prices.
BP Plc and Chevron Corp. fired the opening salvo for a further round of cost cuts by major oil companies grappling with the prolonged collapse in crude prices.
Total is to sell 20% of its interests in Laggan, Tormore, Edradour and Glenlivet fields, in the West of Shetland area, to SSE E&P UK Limited for around $876 million (£565 million).
Total SA’s second-quarter profit almost matched year-earlier results as higher margins at Europe’s biggest refining business helped the company shrug off a 50% slump in crude prices.
ConocoPhillips Norway has awarded Maersk Drilling a contract extension for the Mærsk Innovator for work on Eldfisk field, part of the greater Ekofisk area, offshore Norway.
Vermilion Energy has entered into a farm-in agreement with Mobil Erdgas-Erd l GmbH (MEEG) and BEB Erdgas und Erd l GmbH & Co.KG (BEB).
The Oil and Gas Authority—the UK oil and gas regulator—announced the remaining winners from the 28th Offshore Licensing Round on Monday.
BP Plc reported the lowest quarterly profit in at least 10 years after a boom in trading faded and the conflict in Libya forced almost $600 million of writedowns.
Cuadrilla plans to appeal Lancashire County Council’s (LCC) Development Control Committee’s decisions last month to refuse planning consent for two applications for temporary shale gas exploration sites.
Brent crude dropped below $55/bbl for the first time in more than three months while U.S. prices traded in a bear market amid a persisting surplus.
Drilling of the first production well at Gina Krog field has started, just eight days after the rig arrived at the North Sea field.
Det Norske Oljeselskap ASA is claiming as much as 20 MMbbl more of Johan Sverdrup oil field as it appeals a government decision that reduced its stake in the giant deposit offshore Norway.
Statoil and Total E&P Norge, its partner in PL146/PL333, have made a gas and condensate discovery in the Julius prospect, in the King Lear area of the North Sea.
Global Marine has secured a contract that will see it provide personnel and equipment to support the delivery of a submarine fibre optic link between platforms on behalf of client, Subsea 7, and end user BP.
Research from NEL, the flow measurement R&D specialist, reveals that the North Sea oil and gas sector could be misreporting over $1093 million per year.
Trans Adriatic Pipeline (TAP) has awarded Technip a project management consultancy (PMC) services contract, for a project designed to transport gas from Shah Deniz field to the European market.