An Italian government source has reportedly dismissed local media speculation suggesting Rome would offload its 4.3% stake in Eni as part of efforts to reduce Italy’s national debt.
Wood Group has launched a bid to take over fellow oilfield services firm AMEC Foster Wheeler in a move that could save the merged group GBP110 million (US$134 million) per year in costs.
Italy’s Eni on March 7 announced it had finalised a farm-in agreement with Total to acquire a 50% interest in Block 11 in the Cyprus offshore exclusive economic zone (EEZ).
Norway’s oil companies appear to be regaining a little of their verve. Statistics Norway indicated last week that companies in the oil and gas sector would invest slightly more in 2017 than...
Toronto-listed Pennine Petroleum has made its foray into Albania with the signing of a production-sharing agreement (PSA) for a block in the south of the country.
Royal Dutch Shell has marked a milestone for the offshore UK North Sea after filing the decommissioning programme for Brent oilfield to the UK government.
Royal Dutch Shell has taken a major step towards meeting its US$30 billion divestment target by selling roughly half of its net output in the UK North Sea to private equity...
France’s Total is now expected to drill its first exploration well offshore Cyprus in June or July, a source close to developments told NewsBase this week.
Aker BP’s first capital markets day drew a mixed response from analysts and investors, as critics poured cold water on its projections for expenditure and reserves.
Danish companies Maersk Oil and Dong Energy have started negotiations regarding a possible merger of their oil and gas operations.
Turkish pipeline operator Botas has announced plans to install two floating storage and regasification units (FSRUs) to increase the country’s LNG import capacity.
The UK’s Oil and Gas Authority (OGA) has said it will use new powers to fine or revoke licences from companies that fail to extract as much oil as possible from North Sea fields.
Suncor Energy UK has completed its purchase of a 30% stake in Chevron’s Rosebank project West of Shetland (WoS) after paying an initial US$50 million consideration to Austria-based OMV.
Newly-formed Aker BP has bought Tullow’s interests in eight licences on the Norwegian Continental Shelf (NCS).
Hurricane Energy believes it has vindicated its reservoir model at the Lancaster basement development West of Shetland after encountering a 2,034-foot (620-metre) oil column at the 205/21a-7...