New credit ratings for the global oil and gas industry show that UK companies have seen the biggest setbacks. However, the entire business's credit situation bears more risk than three years ago, looking at the biggest companies.
A new analysis commissioned by Nord Stream 2 AG concludes that natural gas will be difficult to replace in industry and the electricity sector for at least the next 20-30 years due to both supply security and price concerns.
The first half of 2019 was a cold shower for most of the LNG market, says Flex LNG's chief executive in connection with the gas carrier's presentation of yet another deficit. However, he believes improvement might be just around the corner.
Equinor has located a significant deposit in a Barents Sea field for which it has big hopes. Meanwhile, Aker BP's Norwegian Sea drillings came up dry.
John Fredriksen-controlled rig company Seadrill reports a triple-digit million-dollar deficit for the second quarter. The company also lost half a million USD on its bottom line in the first half of the year.
The Norwegian oil major expands its stake in the Caesar Tonga field in the Gulf of Mexico, buying out Shell, which initially planned to sell to another party. Equinor now holds almost half the field.
A large proportion of the world's offshore supply ships are still out of work, Maersk Supply Service estimates. 25 percent of the company's ships are presently laid up.
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After years of lobbying, several US oil companies, including Koch Industries Inc., Marathon Petroleum Corp. and Energy Transfer Partners LP, have thus far convinced nine states to criminalize protesting near energy infrastructure. Opponents say such measures underline the undemocratic role of corporate capital and violate free speech.
The Norwegian oil company has found a smaller oil deposit under license 815.
John Fredriksen's Seadrill establishes a collaboration in Qatar with company Gulf Drilling International. The joint company will operate five rigs.
The rates for anchor handling vessels in the North Sea have soared, and according to Finansavisen, several ship operators have signed contracts worth more than half a million NOK per day – more than a doubling compared to just a week ago and the highest level so far this year.
The first drops extracted from the Mariner field in the UK North Sea has arrived. But more than drops is anticipated, as the field is expected to yield more than 300 million barrels of oil.
The oil industry worries that US President Donald Trump's latest deregulation of the sector might destroy confidence in natural gas as the fossil fuel of the future.
ExxonMobil is exploring a possible sale of its UK North Sea activities, where it has operated for 50 years, reports Reuters. A sale could fetch up to USD 2 billion.
Oil well Jethro-1 in Guyana's Orinduik field contains substantially more oil than expected, Tulow oil informs.
The Saudi Arabian oil company delivered an H1 net result of USD 46.9 billion.
Corvus Energy, which supplies batteries for ships, among other things, has just received a "major investment" from Shell Ventures. The investment will expand the supplier's presence.
Björn Rosengren will take up the position as chief executive of the industrial conglomerate in February.
Following a somewhat crazy process, to put it mildly, Occidental announces it has completed its acquisition of Anadarko in a USD 55 billion transaction.
Despite fluctuating oil and gas prices, state-owned oil company Petoro has once again increased its contribution to the treasury – this time with a transaction to the Norwegian Oil Fund that is EUR 300 million higher than in last year's first half.
UK-based BP Marine adds the second-largest port in the Mediterranean to the list of ports where the company will sell low-sulfur fuel once the new IMO regulations come into force.
BP continues its efforts to gain a foothold on the Indian energy market. The British oil and gas company has entered a new cooperation in the country involving plane fuel and establishing a network of gasoline stations.
British-Dutch Shell is already underway with installing solar panels on a series of production facilities in Asia and Europe. Now the oil major is considering whether its largest refinery should be powered by solar energy.
Norwegian oil and gas company Aker BP has uncovered a smaller gas deposit near the North Sea's Bøyla field.
The Norwegian oil company secures its new chief financial officer. The new CFO hails from the financial sector and has previously acted as adviser to the company.
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