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Investments from the new fund are expected to focus on disruptive technologies that reflect the company’s commitment to lower emissions from oil and gas.
"Investor sentiment in the last year has really, markedly changed. I'd say it's gone from, 'drill, baby, drill,' to 'show me the money,'" says Hess CEO John Hess speaking at the OPEC International Seminar.
U.S. sanctions on Venezuela are an attack against the stability of the global oil market, Venezuelan Oil Minister Manuel Quevedo said on June 21.
The expansion will boost output at CNOOC’s Long Lake oil-sands facility by 26,000 barrels per day. The company said construction will begin shortly, with first oil expected in late 2020.
Shell committed to the ambitious three-year sale plan following the decision to acquire BG Group in 2015 and the latest announcements bring its total asset sales to around $27 billion.
The acquisition by Genstar follows Drillinginfo’s recent addition of transaction-tracking businesses 1Derrick and PLS to its offerings.
The possible withdrawal of French oil major Total from Iran's South Pars gas field has not slowed down the project, a senior Iranian official said, adding that Tehran is in talks with Russia’s Gazprom over the development of two other fields.
Energy XXI said it will terminate its previously announced partnership with Orinoco Natural Resources as a result of the Cox Oil transaction.
Lukoil completed the construction and commissioned the third well at the second development stage of the Vladimir Filanovsky field in the Caspian Sea, the company said on June 15.
Canadian oil and gas producer Baytex Energy said it would buy rival Raging River Exploration for about C$2.8 billion (US$2.13 billion) to expand in the oil-rich Duvernay Field in Alberta.
Regulatory and recruitment headwinds are hitting oilfield trucking in a time of rising demand.
Royal Dutch Shell has introduced gas to its 490-meter long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on June 13.