Norshore has secured more work for a recently delivered newbuild after winning a top-hole drilling contract on Shell’s under-development Malikai field off Sabah, Malaysia. The award, for which a value was not disclosed, will see the riserless drilling unit Norshore Atlantic start work in mid-August on the job, which is [...]

Canada's Pacific Rubiales reported a 6% fall in net income to $119.2 million in the first quarter as Colombia downtime hit the bottom line. The Calgary-headquartered explorer had warned last month that lower-than-expected output at its Rubiales field and higher pipeline costs due to militant attacks would temporarily constrain profits. [...]

Brent crude edged higher above $107 per barrel on Wednesday after an industry report showed US crude stocks declined last week, while increasing geopolitical risks in Ukraine helped put a floor under prices. Crude inventories in the US fell by 1.8 million barrels last week, industry group American Petroleum Institute [...]

London-listed Leni Oil & Gas has found more than 350 feet of hydrocarbon-bearing sands in the Goudron field in Trinidad. Electric logs have been run over the length of the GY-664 well, confirming the presence of 350 feet of hydrocarbon-bearing Goudron sands. The first casing point of the well was [...]

Sweden’s Tethys Oil posted a fall in profits despite output hitting a record high for every month of the first quarter. The company posted a first quarter profit of Skr57.7 million ($8.8 million), down from the Skr104.6 million profit booked during the same period last year. Hitting the recent quarter [...]

Brent crude held steady below $108 per barrel on Friday, on track for its steepest one-week decline in four months, as rising supply from the US and Libya and muted demand outlook in China dragged down oil prices. Brent crude held steady below $108 per barrel on Friday, on track [...]

Norway’s Aker Solutions said it plans to split into two companies in a drive to cut costs and increase competitiveness. Under the plans, the subsea, umbilicals, engineering and maintenance, modifications and operations (MMO) divisions will remain as part of Aker Solutions. Executive Chairman Oyvind Eriksen said the split would create [...]

Brent crude held steady at above $108 a barrel on Tuesday after posting its biggest daily fall in nearly a month on an imminent rise in Libyan exports, while investors shrugged off more US sanctions on Russia. Libya is lifting force majeure from the eastern Zueitina oil port on Monday, [...]

Spanish giant Repsol has finally started drilling the Welwitschia-1 wildcat on PEL 0010 off Namibia. Joint venture partner Tower Resources revealed on Thursday that the drillship Rowan Renaissance had started drilling the well. The well had been delayed by more than two months following delays with the newbuild drillship which [...]

Two people have been killed at the Hyundai Heavy Industries (HHI) shipyard in Ulsan, South Korea, with two more injured. According to local media reports, the first started at 4 in the afternoon local time at one of the docks used to construct liquefied petroleum gas carried. The dock workers [...]

Schlumberger has boosted its net profit in the first quarter due in part to growing new technology sales. Expanding integration activity also drove the bottom line hike as the company battled severe winter weather in a multitude of markets. Schlumberger is also predicting a rise in spending among clients of [...]

Statoil is reported to have confirmed a third well to be drilled as part of its upcoming exploration campaign in the frontier Hoop area of the Barents Sea, with the Mercury prospect now also firmly in its sights. The state-owned explorer already has the semi-submersible Transocean Spitsbergen lined up to [...]