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Oil prices fell on April 20 after President Donald Trump criticized OPEC and said oil prices were artificially high, but they were still set for a weekly gain.
Offshore rig firm Odfjell Drilling plans to expand its floating rig fleet to between six and 10 from four now, it said April 20, the latest sign of recovery in the energy industry.
Baker Hughes said oilfield services revenue rose 10.1% to $2.64 billion in the quarter, with the company winning major contracts in the Permian Basin and the Gulf of Mexico.
Oil and gas producer Santos Ltd. on April 19 reported a near 7% fall in first-quarter production as output from the Papua New Guinea LNG project fell after a powerful quake hit the region in February.
Energean listed in March, raising $460 million to develop two Israeli offshore gas fields, Karish and Tanin, which have potential reserves of up to 2.4 trillion cubic feet of gas and 32.8 million barrels of light oil and condensate.
Weir also said it would start a process to sell its flow- control division, which designs and manufactures process pumps and valves for power, oil and gas industries.
Italian oil major Eni has no plans to pull out of its joint venture with Russia's Rosneft despite escalating sanctions against Russia, CEO Claudio Descalzi says.
Morten Kelstrup will join Maersk Drilling as chief commercial & innovation officer to lead the newly-established Commercial and Innovation function, the company announced on April 18.
Seadrill aims to expand relations with Schlumberger and other service firms following approval of its multibillion-dollar debt restructuring plan, CEO Anton Dibowitz told Reuters.
Venezuela arrested two Chevron Corp. (NYSE: CVX) executives, the U.S. oil major said on April 17, in what appeared to be the first arrests of a foreign oil company’s direct employees during a purge of alleged graft in the OPEC nation.
The Italian government, which controls Eni, is keen to turn Italy into a Southern European gas hub capable of moving African supplies from Algeria and Libya and future flows from Azerbaijan into Europe.
BP also plans to invest up to $500 million per year on renewable energies such as solar, wind and power storage.