Norwegian oil major Statoil has booked a bigger loss for the third quarter 2017 compared to the one posted a year ago while its revenues and production increased during the period.  Statoil on Thursday reported adjusted earnings of $2.3 billion in the third quarter, up from $0.6 billion in the same period in 2016. After... Continue Reading →

Offshore drilling contractor Ensco booked a loss in the third quarter of this year, after reporting a profit in the same period last year. The driller’s revenues were impacted by fewer rig days and lower dayrates.  The UK-based driller, which recently completed its acquisition of Atwood Oceanics, on Wednesday reported a loss of $25.4 million for... Continue Reading →

What do upstream oil and gas companies expect to gain from investing in digital initiatives? They expect faster first oil time, and better decision making, a research conducted by Accenture and Microsoft on 300 upstream leaders in 18 countries has shown. Read more

Finland’s Wärtsilä has successfully tested the remote control of ship operations using a combination of dynamic positioning (DP) and manual joystick control. Wartsila, in collaboration with vessel provider for the project Gulfmark Offshore, carried out the test on August 21 off the North Sea coast of Scotland. Even though the test vessel was in the... Continue Reading →

Oil and gas company Tullow Oil has failed to make a commercial discovery at its Araku-1 well, offshore Suriname. The Araku-1 exploration well in Suriname has been drilled to a total depth of 2,685 meters and penetrated the objectives of the Araku prospect, Tullow informed on Friday. Read more

Oct 25 (Reuters) - TechnipFMC Plc * TechnipFMC Plc qtrly ‍diluted earnings per share of $0.26​ * TechnipFMC Plc - ‍excluding charges and credits of $0.13 per share, adjusted diluted earnings per share of $0.39​ for quarter * TechnipFMC Plc - qtrly ‍inbound orders of $2.5 billion, including subsea of $980 million and onshore/offshore of... Continue Reading →

Brazilian lawmakers rejected corruption charges against President Michel Temer on Wednesday evening, shelving a case that had threatened to oust a center-right leader who investors hope will bring Brazil’s budget deficit under control. Read more

U.S. Interior Department led by secretary Ryan Zinke has proposed the largest oil and gas lease sale ever held in the United States –76,967,935 acres in federal waters of the Gulf of Mexico, offshore Texas, Louisiana, Mississippi, Alabama and Florida. The proposed region-wide lease sale, offering an area about the size of New Mexico, is... Continue Reading →