Fossil Energy
Two African countries agree to explore and develop cross-border oil & gas reserves
São Tomé and Príncipe and Equatorial Guinea have agreed on the establishment of a Special Zone for Joint Exploration to explore and develop cross-border oil & gas reserves believed to be in the blocks bordering each country’s maritime zone.
Jersey on track to deliver Greater Buchan Area concept despite coronavirus
UK-based oil and gas company Jersey Oil & Gas (JOG) is still on track to deliver the Greater Buchan Area development concept regardless of the coronavirus outbreak.
BW scales down Gabon spending, abandons options for additional wells
Due to the current low oil price environment and uncertanties in the market due to the coronavirus outbreak, BW Energy has decided to reduce its capital expenditures in Gabon. In addition, the JV will not exercise options for additional exploration wells.
MOL makes oil and gas discovery in North Sea
MOL Norge has made an oil and gas discovery near the Balder field in the North Sea offshore Norway.
Canadian offshore regulator unveils set of measures to mitigate coronavirus impact
Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has revealed its set of measures aimed as a response to the outbreak of the coronavirus disease.
Tendeka inks four-year equipment supply deal in Malaysia
Global oil and gas solutions provider Tendeka has secured a four-year contract to supply its zonal isolation technologies across an unnamed client’s Malaysian assets.
KenzFigee expands with new UK subsidiary
Dutch offshore lifting equipment specialist KenzFigee has expanded its services to the UK with the creation of a new unit.
Hess shaves off $800 million of its budget for 2020
In light of the current low oil price environment and market volatility, U.S. oil and gas company Hess Corporation has revealed a plan for a significant reduction to its 2020 capital and exploratory budget.
Equinor responds to coronavirus outbreak with changes to executive committee
Norwegian oil and gas major Equinor has decided on temporary changes to the corporate executive committee to respond to the coronavirus outbreak.
Kosmos to slash capex, suspend dividend, and reduce headcount in response to market volatility
Kosmos Energy has decided to reduce its capital and operational expenditures as well as administrative costs, and suspend the dividend in response to the current market price volatility.
ExxonMobil moves to cut spending due to ‘unprecedented environment’
ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases.
Total hits pay in UK North Sea well
Total has discovered hydrocarbons in the Upper Jurassic and Triassic sandstone reservoirs of its Isabella exploration well in Block 30/12d in the UK Central North Sea.
Another oil and gas operator shrinks 2020 budget
U.S.-based oil & gas operator W&T Offshore has reduced its capital expenditure budget for 2020 and that it has added natural gas costless collars to its hedging portfolio.
Solstad breaks off charters for laid up platform supplier duo
Norwegian offshore vessel operator Solstad Offshore has terminated bareboat charter agreements for two platform supply vessels (PSVs) owned by SFL Corporation.