Tag Archives: Rigzone

An ExxonMobil spokesperson has confirmed to Rigzone that the company has exercised its right to withdraw from its joint operating agreement with Patriot Energy for Block VMM37 in Colombia. “We notified the Agencia Nacional de Hidrocarbons of our intent to withdraw from the E&P contract for VMM37, and to discuss …

Europe has negotiated through the winter of a crisis that threatened to choke energy supplies and overwhelm its economy, but officials are warning that the squeeze may not yet be over. Fears of blackouts and freezing homes have faded for now, and gas reserves remain far fuller than normal. The …

Denmark is salvaging an unidentified object found next to a Russian gas pipeline damaged in a blast last September, as investigators continue to seek who was behind the attack. The operation comes two weeks after German authorities said they searched a vessel that may have transported explosives used in the …

Spain, the biggest European buyer of liquefied natural gas from Russia, is urging importers not to sign new contracts with Moscow as it seeks to crimp revenues for the Kremlin’s war machine. LNG importers in Spain received a letter from the government asking companies not to sign up to new …

Oil finished a tumultuous session higher with record US exports slowing inventory builds, igniting crude market bulls even as persistent fears of higher interest rates dragged Wall Street lower. West Texas Intermediate settled at its highest in nine sessions, with the Energy Information Administration reporting that exports jumped 23%, slowing …

The European Parliament (EP) announced recently that it has approved new CO2 emissions reduction targets for new passenger cars and light commercial vehicles. Members of European Parliament endorsed a deal reached with the European Council back in October 2022 with 340 votes in favor, 279 against and 21 abstentions, the …

Italian oil and gas major Eni and Algeria’s Sonatrach have signed strategic agreements to accelerate emissions reduction and strengthen energy security. Eni said that, through the agreements, the two companies would identify opportunities for the reduction of greenhouse gas and methane gas emissions. They will also define energy efficiency initiatives, …

Rig activity stood out in several regions in 2022 and there is no reason to expect anything different in 2023, Westwood Energy believes. In 2022, offshore rig activity for both jack-ups and floating rigs was robust in several key regions of the world. Global marketed jack-up utilization increased from 87% …

Oil and gas contracts in Europe registered a decrease of 2% in November 2022 with 178 contracts, when compared with 182 contracts in the previous month, according to information provided by GlobalData. The activity marked a decrease of 11%, when compared with the last 12-month average of 199 contracts. Looking …

Investors with combined assets of $1.4 trillion have demanded the world’s biggest oil companies take swifter action to cut greenhouse gas emissions. This year has seen record profits for Big Oil as countries emerged from Covid lockdowns, boosting energy consumption and prices as supplies tightened. The companies bolstered shareholder payouts …