US oil and gas M&A activity increased 57% in the last year due to industry consolidation
The report said that the dealmaking activity in oil and gas increased by 57% in 2017 as companies boosted their development spending due to higher cash flow from previous years' profits. According to a report by Ernst & Young…
Cenovus Energy Sets Out to Slash Emissions
Canada's Cenovus Energy on Thursday unveiled plans to reduce per-barrel greenhouse gas emissions by 30% by the end of 2030, as the country's oil industry faces growing pressure from environmental activists.The…
SAExploration Wins $130Mln of New Projects
Houston-based global seismic services company SAExploration announced a combined $130 million of new projects in Alaska, Canada and the Middle East.According to the geophysical services provider the largest…
Norway Sovereign Fund to Divest E&P Firms
Norway's $1.1 trillion sovereign fund will divest companies solely dedicated to oil and gas exploration and production in a bid to shield itself from a long-term fall in oil prices, the finance ministry…
Gazprom Oil Touch 100mln Barrels at Badra
Russian oil producer Gazprom Neft said that its subsidiary Gazpromneft-Badra has now produced 13.5 million tonnes — or 100 million barrels — of oil in Iraqi oil field.Cumulative production at the Badra…
Equinor Q2 Earnings Lag Forecast
European oil major Equinor said on Thursday it expects less capital expenditure this year, partly due to further cost savings at its Johan Sverdrup oilfield, after reporting quarterly earnings slightly…
Total, IFPEN Join Forces to Cut Carbon
The French Institute of Petroleum IFP Energies Nouvelles (IFPEN) and compatriot multinational integrated oil and gas company Total announced that they signed a strategic R&D partnership yesterday, that…
Austria's OMV, Russia's Gazprom Sign Pact
Austrian integrated oil and gas company OMV and Russian energy giant Gazprom have signed a Memorandum of Understanding (MoU) for cooperation on Liquefied Natural Gas (LNG).The two companies had previously…
Suncor Q1 profit beats estimates
Canada's Suncor Energy Inc reported a profit on Wednesday that beat analysts' estimates as the integrated oil producer reaped the benefits of improved Canadian heavy crude pricing due to Alberta's production…
Husky Energy Beats Profit Estimate
Canada's Husky Energy Inc beat analysts' estimates for quarterly profit on Friday, as it benefited from improved Canadian crude prices following Alberta's output cuts and investment in a number of refineries…
Exxon, Chevron Q1 Earnings Expected to Dip
Exxon Mobil and Chevron are expected to report lower quarterly earnings per share when compared with last year's first quarter, though their stocks have outperformed smaller companies with both in the…
Petronas Expands LNG Supply
Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) said that it is well-positioned to meet rising LNG demand and expands its flexible and innovative LNG solutions for existing and new markets."With…
KCA Deutag Wins Multiple Drilling Contracts
Global drilling and engineering contractor KCA Deutag (KCAD) has been awarded new contracts and contract extensions worth $110m to perform onshore drilling in the Middle East, Russia and Africa.In the Middle East…
GasLog: LNG Demand Grew 9% in 2018
Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers…
MOL, Total Make Refueling Europe Easier
Japanese logistics giant Mitsui O.S.K. Lines (MOL) and French multinational integrated oil and gas company Total S.A. signed an agreement which will make travelling across Europe easier for their corporate…
OMV Buys Shell's NZ Assets
Royal Dutch Shell plc announced Friday it has completed the sale of its New Zealand upstream oil and gas assets, marking the supermajor's exit from the Oceania country.The $578 million sale to Austrian…
Panoro Completes OMV Tunisia Acquisition
London-based international independent oil and gas company Panoro Energy ASA announced Friday it has completed its $65 million acquisition of OMV Tunisia Upstream GmbH from Vienna-based integrated oil…
Sapura Energy Wins Contracts in Mexico, Malaysia
Malaysia-based integrated oil and gas services Sapura Energy Berhad has strengthened its presence in Mexico and Malaysia with new contract wins valued at approximately RM1.75 billion (USD 410 mln).The…
OMV, Sapura Energy Sign Pact
Malaysia’s Sapura Energy has entered into a heads of agreement with Austria’s OMV to form a strategic partnership and acquire half of Sapura Upstream for $1.6 billion."Under the agreements, OMV Exploration and Production GmbH (OMV E&P)…
Offshore Cape Three Points Begins Gas Delivery to Ghana
Vitol said that the Offshore Cape Three Points (OCTP) integrated oil and gas project offshore Ghana has commenced delivery of gas from the Sankofa field to Ghana National Petroleum Corporation (GNPC).Both…
