Offshore oil and gas exploration spending in the Middle East is set to grow significantly over the next few years, as onshore resources mature and become more numbered, Rystad Energy said Friday.'The most bountiful petroleum plays in the Middle…
Norway’s bevy of oilfield supplier had a terrific day on the stock market Thursday, the first day back from holiday riding a buoyant oil price and news Chinese and Norwegian orders for oilfield items was on-again.Drilling contractor Seadrill led the pack…
Oil rose towards $68 a barrel to its highest in over three months on Thursday, buoyed by a report showing lower U.S. crude inventories, hopes of an end to the China-U.S. trade dispute and OPEC-led efforts to constrain supply.The American Petroleum Institute…
Saudi Aramco has received bids for its shares totalling $44.3 billion so far, lead manager Samba Capital said on Friday, putting its initial public offering on track to be over-subscribed.The state-owned oil giant plans to sell 1.5% of the company's shares for as much as 96 billion riyals ($25…
Norwegian energy company Equinor said it has started production from the Utgard gas and condensate field, spanning the Norwegian-UK border in the North Sea. Recoverable resources are estimated at around 40 million barrels of oil equivalent (boe) and daily production on plateau will be around 43…
Kuwait Oil Company (KOC) has signed a KD-181-million ($597 million) contract for offshore drilling with US field services major Halliburton.The integrated offshore drilling services contract is for six high-pressure high-temperature (HPHT) exploration wells on two jack-up rigs in the Arabian Gulf…
Greenpeace activists blocked the entrance to BP's London headquarters on Monday, demanding one of the world's biggest energy companies ends all new oil and gas exploration or goes out of business.Greenpeace activists arrived at the building…
Supply disruptions in the Middle East on top of an already tight crude market could send oil prices violently upward, said the energy research firm Rystad Energy.Two Saudi Arabian oil tankers were reportedly attacked off the coast of the United Arab Emirates this weekend…
Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such as Russia in an effort to shore up the price of crude, OPEC's secretary-general said in a letter seen by Reuters on Thursday.Mohammad Barkindo said to reach the proposed cut of 1…
China's CNOOC Ltd indicated a renewed commitment to oil and gas exploration on Tuesday as its chairman said it would raise spending to a record while signing strategic exploration agreements with nine firms for the South China Sea.The strategic…
Independent global completions service company Tendeka said it has launched a new technology that increases oil recovery by improving injected water conformance in fractured reservoirs or by ensuring effective placement of matrix stimulation acids…
Italian oil services company Saipem said it had identified a cyber attack out of India on Monday that had primarily affected its servers in the Middle East.'We are collecting all the elements useful for assessing the impact on our infrastructures…
Remotely operated vehicle (ROV) services provider ROVOP said it has expanded in the Middle East, opening a new base in the region.Two senior staff members, operations director Doug Middleton and business development consultant Michael O’Donnell…
Norwegian shipping company Golar LNG Partners is deploying a floating storage and regasification unit (FSRU) to Jamaica for up to 15 years from the fourth quarter of 2018.'FSRU Golar Freeze will shortly arrive offshore Jamaica where she will…
Drilling company Ades International Holding has bought 12 onshore rigs from Weatherford in Kuwait for $ 123 million.The oil & gas drilling and production services provider in the Middle East and North Africa (MENA) said in a press release that…
