Russia’s oil production declined last year for the first time since 2008 and reached its lowest level since 2011 following a global deal to cut output and low demand due to the coronavirus.
Norwegian oil and gas E&P company OKEA has announced that Maersk Drilling's Maersk Inspirer jack-up rig has been towed to the Repsol-operated Yme oil field.
Egypt has announced plans to explore for oil and natural gas at nine new sites in the Mediterranean and Red Sea, which will see around $1.4bn invested into the country’s offshore sector.
Piracy activity on the Mexican side of the Gulf of Mexico seems to be picking up, with several attacks in the past month on offshore support vessels.
ussia’s finance ministry is looking to raise as much as US$1.93 billion (143 billion Russia rubles) in taxes from the oil industry over the next two years, as the oil price crash has shrunk Russia’s key revenue stream—oil.
Jack-up drilling rig owner Borr Drilling has signed agreements that should secure work for three of its drilling rigs
Exxon Mobil Corp. is ripping up its debt-fueled, $30 billion-a-year plan to rebuild an aging worldwide portfolio after cash flow evaporated and threatened the company’s vaunted dividend.
Occidental Petroleum Corp. has restored employee pay cuts imposed after oil prices tumbled and doubled the salary cap for executives to $500,000 a year.
North Sea oil workers are staying offshore for as long as three weeks at a time, potentially increasing the risks of an already dangerous operating environment, according to unions.
Oil edged below $40 a barrel as OPEC+ producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus.
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