Oil & gas news

Oil prices stopped rising on Wednesday as the market started realising that crude storages continue to fill, after days of prolonged gains.

The OGA has said that the North Sea oil and gas industry should go considerably faster and farther in reducing its own carbon footprint, or risk losing its social licence to operate.

The company is acquiring about 30% of Total’s participating interest in blocks 15, 33 and 34 located in the Campeche Basin, offshore Mexico.

Nigeria will not hold bidding rounds for major oilfields until crude prices recover, and some upstream projects will be completed much later than originally planned.

Cuts in the industry's investment budgets will leave only US$60 billion worth of greenfield tenders for contractors to compete for, the lowest in two decades, according to Rystad Energy.

The Tilapia oilfield is located in the Republic of the Congo.

The approximately 14 million shares being divested by Equinor amount to a 4.88% interest in Lundin Energy.

The Logan A-frame is a heavy weather, work class ROV launching system, designed to move some of the largest, work class ROVs in the market.

The project was carried on the Noble Sam Croft drillship for Apache Corp.

The company reported a net loss of US$335 million for the quarter, compared to a net profit of US$112 million in the previous quarter.