As the year approaches the fourth quarter, many industry observers are dusting off their forecasts for 2016 and re-thinking, Douglas-Westwood, an energy intelligence group, has said in its DW Monday report. Last week, HSBC lowered its oil price outlook to…

An engineering, procurement and construction (EPC) contract for the Johan Sverdrup gooseneck spool and retrofit hot-tap tee has been awarded to IKM Ocean Design by Statoil on behalf of operator Gassco. According to Statoil, part of the gas export solution…

Quadrant Energy will begin drilling the Roc-1 well located in licence WA-437-P, offshore Western Australia, and adjacent to the recent Phoenix South-1 oil discovery by Apache, in November. Australian Quadrant Energy, the operator of the licence, contracted the Noble Tom…

BHP Billiton believes it has identified a new potential major oil field in the Beagle sub-basin, offshore Dampier, Australia. According to the company the area could contain more than 1.6 billion barrels of oil. However, this belief will have to…

Ocean Installer has been awarded a contract for deep water umbilicals, flowlines and riser (UFR) installation work with Total E&P Congo at the Moho Nord field off the coast of the Republic of Congo. The project will see Ocean Installer…

Thirty-seven companies have so far qualified to take part in Brazil’s 13th licensing round to be held in October this year. Among the companies given the green light, there are 22 international oil firms and 15 Brazilian ones. According to…

Lundin Norway has received a permit to drill an appraisal well 7220/11-3 A in the Barents Sea, offshore Norway. The Norwegian Petroleum Directorate (NPD) has granted Lundin the permit to drill the well in production licence 609, north-west of Hammerfest.…

Höegh LNG has raised NOK 844 million ($100 million) in gross proceeds through a private placement of 6,920,000 new common shares, each with a par value of USD 0.01 at a subscription price of NOK 122 per share. The Private…

At the application deadline for awards in predefined areas (APA) 2015 on the Norwegian continental shelf, the authorities had received applications from 43 companies, the Norwegian Petroleum Directorate (NPD) has informed, saying the numbers were at about the same level…

SINGAPORE (Reuters) – Crude oil prices stabilized on Wednesday as Asian stock markets caught a tailwind from a strong performance in the United States and Europe, although fuel markets remained generally dogged by oversupply. Asian shares extended a global rally…