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Regional

Maersk agrees to sell oil unit to Total in $7.45 bln deal

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(Reuters) Total is buying Maersk Oil in a $7.45 billion deal which the French oil major said would boost its earnings and cash flow, and bolster its dividend prospects. Danish company A.P. Moller-Maersk is selling its Maersk Oil division to Total to focus...
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U.S. oil drillers keep pressure on OPEC with record shale output

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(Bloomberg) Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC’s efforts to support prices. The gain is being led by the oil-rich Permian basin of Texas and New Mexico, where production...
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Gas starts flowing from BP’s new fields offshore Trinidad and Australia

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(Reuters) - BP has started producing gas from two new projects offshore Trinidad and Tobago and Australia; the company said on Monday, further boosting output that is helping the company to turn a corner after a bruising market downturn. Gas...
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Major oil companies begin pulling workers out of Venezuela

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(Bloomberg) Repsol SA pulled all foreign workers from its oil fields in Venezuela amid a deepening political crisis, while Chevron Corp. and Total SA have removed a small number of employees, said people with knowledge of the companies. Norway’s...
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Kosmos tightens loss, triples oil revenues

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(Offshore Energy Today) U.S. oil company Kosmos Energy tightened its net loss and tripled oil revenues during the second quarter 2017. The company has decided to once again reduce its capex for the year by $50 million. According to its...
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As Venezuela spirals US oil confronts a $10b threat

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From New Jersey down to Texas, oil companies have come to depend on crude-soaked Venezuela to feed their massive refineries The tanker Paramount Helsinki docked in Pascagoula, Mississippi, last week bearing the lifeblood of Chevron Corp’s refinery there: 532,000 barrels...
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Venezuela said to prepare plan B should U.S. ban oil imports

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(Bloomberg) Venezuela’s state-owned oil company and its partners have quietly started working on a Plan B to find markets for the country’s crude oil if the White House ratchets up sanctions and bans imports. Venezuela’s oil exports are vital to...
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US imposes sanctions on Venezuelan leader Nicolas Maduro

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(BBC) The US government has branded Venezuela's President Nicolás Maduro "a dictator" and frozen any US assets, after he held a controversial poll to elect a constituent assembly. Under the sanctions, US firms and individuals are banned from doing business...
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Venezuela’s Maduro claims poll victory as opposition cries foul

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(BBC) Electoral officials in Venezuela say turnout in the controversial election for a constituent assembly was 41.5%, a figure disputed by the opposition. The opposition coalition said 88% of voters abstained and it refused to recognise the election. It also...
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Tullow updates exploration offshore Suriname, Guyana

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(Offshore) Tullow Oil says a rig, reportedly the drillship Noble Bob Douglas, has been secured for a well this fall on the 500 MMbbl-plus Araku prospect offshore Suriname. Araku is a large structural trap which has been de-risked by results of a 3D seismic...
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Rystad Energy reports rising oil project costs amid inflation and supply chain disruptions

Rystad Energy has reported a continued rise in the cost of developing new upstream oil projects, driven by inflation...

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