Sweden’s Lundin Petroleum has signed an agreement with French-Canadian Petrolia for a block in the same area as the Johan Sverdup field off Norway. The company has taken a 35% interest in production licence 674, which is located east of PL501/265 where the Johan Sverdrup field is located. Lundin has [...]

Maersk Drilling has taken delivery of the second of three giant jack-up rigs being built for it by Singapore’s Keppel Fels. The XLE-2 was delivered to the Danish owner on budget and one week ahead of schedule, Keppel said on Thursday. A naming ceremony for the unit, ordered for around [...]

Argentina was in a race against time on Wednesday to cut a deal by the end of the day with holdout investors suing it and avert a default, as a surge in the country's bond prices fed optimism that an agreement was possible, according to a report. While unnerving, the [...]

China and Venezuela have signed a series of deals that will see the pair co-operate on the development of oil projects, with crude also being shipped from the South American oil powerhouse. The 38 new agreements were signed between Chinese President Xi Jinping and Venezuelan counterpart Nicolas Maduro in Caracas [...]

Irish player Tullow Oil has failed to strike at the Oseberg Sor field in the North Sea, with the Lupus-1 well falling short. The wildcat in PL 507 was drilled to test hydrocarbon potential of the Paleocene Hermod formation in a stratigraphic trap. It also targeted reservoir quality sandstones of [...]

Brent futures climbed above $108 per barrel on Friday, extending sharp overnight gains amid heightened geopolitical concerns after a Malaysian jetliner was shot down over eastern Ukraine. Oil prices on both sides of the Atlantic surged about 2% on Thursday, recovering from a weeks-long decline, on news of the crash [...]

China National Offshore Oil Corporation (CNOOC) is studying the possibility of building a multi-billion-dollar floating liquefied natural gas vessel that would likely be used to produce gas from the deep waters of the South China Sea. While the state-run company has made no public announcement, a pre-feasibility study was well [...]

The Australian oil and gas exploration is set to surge over the next financial year, according to a market research company. Business information analysts IBISWorld released a report on which industries were set to soar and which were set to sink over the next financial year. Demand for gas is [...]

Legislation currently passing through the Australian Senate could affect the outcome of investment in the offshore oil and gas industry. The Greens party has made a move to disallow visa arrangements for offshore resources work on non-Australian flagged vessels. The Migration Amendment Repeal Bill serve to repeal the Migration Amendment [...]

Brent crude bounced off of three-month lows on Monday to near $107 per barrel as the potential for renewed supply disruptions put a floor under prices that have been tumbling since the last week of June. Brent lost $2.01 on Friday to settle at $106.66 per barrel, the lowest finish [...]

Upper house to vote next week as Senate moves closer to implementing energy reforms, report says Mexico’s Senate will next week vote on legislation aimed at opening up the North American country’s oil industry to foreign players, according to a report. Committee members in the upper house of Congress are [...]

India’s state-owned Oil & Natural Gas Corporation (ONGC) has started drilling in Tamil Nadu, amid strong resistance and protests by locals. Exploration drilling in Thirunagari village in Nagapattinam district started amid tight police security, India’s leading news daily, The Hindu reported. Local residents in some regions of Tamil Nadu, including [...]