Chinese energy major CEFC China Energy has announced it will purchase a 14.16% stake in Russian oil giant Rosneft at a cost of US$9.1 billion. The Chinese firm will acquire the position from a consortium between Glencore and the Qatar Investment Authority (QIA), signalling a closer...
Deepwater drilling major Transocean (NYSE:RIG) has agreed a deal to acquire Songa Offshore for nearly US$3.4 billion. The company said the transaction strengthens Transocean’s position as the ‘undisputed leader in harsh environment and ultra-deepwater drilling’. As well as increasing the firm’s contract backlog by $4.1 billion to...
Australian energy giant Santos reported an improved production guidance for 2017 combined with reduced costs for the year for its Q2 activities. The oil and LNG producer confirmed that it had upped its production forecast to 57-60 million barrels of oil equivalent (mmboe) for the year,...
EnQuest confirmed it has produced first oil from the North Sea’s largest new oil project in a decade, despite difficult industry conditions. The major UK independent oil producer announced that two of the three drill centres saw the first flow of oil last week at its...
Union Jack Oil (AIM:UJO) has announced it expects to start commercial production at its Wressle discovery. In its 2016 first quarter results the company also reported the acquisition of a 10 per cent interest in PEDL005 (R), incorporating the Keddington Oilfield and said it will continue to...