Companies

Aramco has served notices of temporary suspension to two oilfield service contractors, Zawya has reported, citing the companies. According to one of them, Borr Drilling Limited, the suspension will begin this month and last for a year, the report said. Borr Drilling operates the Arabia I rig in Saudi Arabia …

Gazprom Neft will meet the April quota of the OPEC+ on oil production cuts by the end of the month, CEO Alexander Dyukov told reporters, Azernews reports, citing TASS. “The Ministry of Energy traditionally communicates the quota to us; we perform it. We plan to achieve required volumes of production …

PetroChina has become the second-largest company in China by market value after it overtook the Industrial and Commercial Bank of China. Bloomberg reported that the oil major’s stock had soared by 42% since the start of the year, bringing its market value to the equivalent of some $244 billion. The …

ExxonMobil and China National Offshore Oil Corporation (CNOOC) have merged their arbitration claims against Chevron’s takeover of Hess’s stake in the most prolific oil block offshore Guyana. Last autumn Chevron and Hess reached an agreement under which the supermajor would buy Hess Corporation, including its assets in Guyana, where Hess, …

The Tyra gas field on Denmark’s side of the North Sea has restarted production, having been shut 2019 for redevelopment, operator TotalEnergies SE said. “At plateau, the Tyra hub will produce 5.7 million cubic meters [201.3 billion cubic feet] of gas and 22,000 barrels of condensate per day, once again …

PetroChina is welcoming this weekend a cargo of Venezuela’s Merey crude for use at a new huge refinery after the U.S. eased sanctions on Venezuelan oil exports a few months ago. A cargo of Merey is due to arrive in China for the state Chinese energy giant on Saturday, according …

China National Offshore Oil Corporation (CNOOC) is dispatching a team of top executives to Angola to explore new oil exploration opportunities, reported Reuters. This development comes as Angola, one of Africa’s leading oil producers, seeks to strengthen its energy ties with China, a principal creditor and a crucial market for …

A giant semi-submersible rig, which is considered to be one of the largest ones ever built, has gone back to the UK’s Kishorn Port (KPL), a 50/50 joint venture between Ferguson Transport (Spean Bridge) and Leiths (Scotland), to prepare for its return to the drilling campaign with Britain’s energy giant …

Saudi Arabia is receiving record income from its cash cow, the state oil giant Aramco, which raised its total 2023 dividend payment by 30% to nearly $98 billion. Saudi Aramco, the world’s largest oil firm by both production and market capitalization, reported on Sunday a 25% drop in earnings for …

Saudi Aramco 2223.SE Chief Executive Amin Nasser said on Sunday the oil giant was looking at further opportunities to invest in China, where he said oil demand was robust and growing. State-owned Aramco has been ramping up its China presence in a string of deals in refining and petrochemicals, some …