Saudi Arabia’s crown prince said the kingdom is in talks to sell a 1% stake in state oil giant Saudi Aramco to a “leading global energy company” as he forecast an economic rebound after the coronavirus pandemic.
After one of the most difficult years in the oil industry’s history, crude prices have recovered and major producers are finally generating spare cash. Investors really want to get their hands on it, but most are likely to be disappointed.
Norway's Aker BP posted record first-quarter operating profit and revenue on higher prices and production on Wednesday as the independent oil and gas producer looks to approve several developments this year.
The deepwater market is rapidly returning to pre-COVID-19 activity levels, and the recovery appears to be gaining strength, according to a recent in-depth analysis completed by International Maritime Associates (IMA) and World Energy Reports (WER).
EnQuest PLC, an oil and gas production and development company, announced it signed an agreement with Whalsay Energy Holdings Limited to purchase Whalsay’s 100% equity interest in the P1078 license containing the proven Bentley heavy-oil discovery.