Rockhopper Exploration PLC on Tuesday said its loss narrowed in 2018 as it progresses on field development in the Falkland Islands. The oil & gas exploration and production company's loss narrowed in 2018 to US$ 7.1 million from US$ 9.0 million a year before, as revenue climbed to US$ 10.6 million from US$ 10.4 million.
Brazilian state-run oil firm Petrobras is considering bidding in a new tender to explore for oil and gas offshore Israel, a leading Israeli financial news website reported on Sunday. Calcalist reported that a final decision could be announced during a four-day visit to Israel by Brazilian President Jair Bolsonaro that began on Sunday.
Brazil's Petrobras is re-evaluating a preliminary deal with China National Petroleum Corporation (CNPC) to build an oil refinery in the state of Rio de Janeiro, Brazilian economic newspaper Valor Economico reported on Thursday, citing a source from Petrobras’ management.
A major advisor to energy producing nations has suggested that the continued fallout from Venezuela could present a challenge for global oil markets. The International Energy Agency (IEA) has warned that crude supplies from Venezuela are at risk of falling sharply in the midst of an electricity crisis which has paralyzed the country recently.
UK-based oil and gas firm Premier Oil with interests in the Falkland Islands has announced its full-year results for 2018, reporting a post-tax profit hike to US$ 133.4m as a result of record production. These full-year results are a ‘return to profitability’ from 2017’s full-year loss of US$ 253.8m.
Rating agency Standard & Poor’s (S&P) slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up the debt-laden oil firm’s finances.
Libyan state oil company NOC said on Monday it had lifted force majeure at the El Sharara oilfield, the country's biggest, which has been closed since December when state guards and tribesmen seized it.
While everyone is talking about how surging U.S. crude oil production will offset a large part of the ongoing OPEC/non-OPEC production cuts, there are other oil producers not taking part in the OPEC+ deal and poised to see their output jump this year.
Russian lender Gazprombank has frozen the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under US sanctions, according to Reuters.
Chevron Corp. Chief Executive Officer Mike Wirth pledged to work closely with the U.S. to remain in Venezuela despite a spiralling crisis that has led rival oil major Total SA to retreat.