Gorgon LNG Train Two back online after maintenance work

Production at Train Two of Chevron’s Gorgon LNG project has restarted after a brief outage last week. Chevron told Reuters earlier this week that production at Train Two restarted on Sunday after a brief maintenance outage. Chevron, the operator of the Gorgon project, told Reuters last week that production at Train Two was suspended for minor maintenance

Kosmos Energy sinks to Q4 loss

Kosmos Energy reported a fourth quarter loss on Tuesday on lower oil revenues. Kosmos Energy reported a net loss of $56.7 million, or a loss of $0.15 per diluted share, for the fourth quarter compared to net income of $24 million in the same period last year. When adjusted for certain items that impact the comparability

Saudi Aramco acquires stake in Malaysia downstream project

Saudi Aramco signed a share purchase agreement on Tuesday with PETRONAS for a stake in the Refinery & Petrochemical Integrated Development (RAPID) project. The RAPID project is located in the southern Malaysian state of Johor. Upon the completion of the transaction both partners will hold equal ownership in selected ventures and assets of the RAPID project

U.S. drillers added three rigs last week

U.S. rig gains slowed last week but still ended the week in positive territory. According to Baker Hughes, the number oil and gas rigs operating in the United States rose by three to 754 as of February 24, up from 502 rigs a year ago. The oil rig count rose by five rigs to 602

Total sells interests in mature Gabon fields for $350 million

France’s Total has sold a Gabon focused affiliate and several mature fields in Gabon for $350 million. Total said on Monday that it signed an agreement for the sale of stakes and the transfer of operatorship in various mature assets in Gabon to Perenco, an Anglo-French oil and gas company. The transaction is subject to approval

Petrobras approves settlements with four U.S. investors

Brazil’s Petrobras has approved settlements with four U.S. investors related to an ongoing corruption investigation. The state-owned company said on Monday that its board of directors approved the conclusion of settlements to end four individual lawsuits filed before the Federal Court of New York by New York City Employees Retirement System, Transamerica Income Shares, Inc., Internationale Kapitalanlagegesellschaft

Wood Group PSN fined $9.5 million for Gulf of Mexico violations

The U.S. Department of Justice (DOJ) has fined Wood Group PSN over $9 million for violations related to a 2012 offshore accident. The DOJ said on Thursday that Wood Group PSN was ordered to pay $9.5 million today in two separate cases related to its conduct in the Gulf of Mexico. The DOJ ordered Wood Group PSN

Scottish minister ‘inundated’ with oil worker discrimination claims

A member of the Scottish Parliament said she has seen a spike in the number hiring discrimination claims made by former energy workers. Aberdeenshire East MSP Gillian Martin told BBC that she has been “inundated with correspondence from oil and gas workers since revealing worrying evidence from constituents of job discrimination.” Martin said she will continue

Somalia president taps oil exec for prime minister post

Somalia’s president has appointed an executive from UK-based Soma Oil and Gas to serve as the country’s new prime minster. According to Reuters, newly elected president Mohamed Abdullahi Mohamed selected Soma Oil and Gas executive Hassan Ali Khaire to lead the government. UK-based Soma said on Thursday that Khaire has resigned from his post as the company’s executive director

Isreal: Noble Energy goes ahead with Leviathan offshore project

Noble Energy said Thursday it has authorized the first phase of the Leviathan natural gas project. The company is currently targeting the end of 2019 for first gas from the offshore Israel field. Noble Energy is the operator of the Leviathan Field. The field contains 22 trillion cubic feet (Tcf) of gross recoverable natural gas resources.

Report: Non-OPEC production compliance at 60 percent

Non-OPEC producers have reportedly achieved at least a 60 percent compliance rate with planned production cuts. OPEC sources told Reuters that 11 non-OPEC producers who agreed to a production deal last year may have delivered about 60 percent of the agreed upon cuts. Two OPEC delegates told Reuters that OPEC has placed the non-OPEC compliance

Oil tanker sold on China’s eBay for $12 million

A Chinese court successfully auctioned an oil tanker through an online site following a legal dispute. The Guangzhou Maritime Court told Xinhua that a Singapore-flagged vessel known as the “Varada Blessing” was auctioned for about $12 million on at Taobao.com. The vessel was put up for auction by the Guangzhou Maritime Court twice before the most recent winning bid. Taobao is

ExxonMobil revises reserves down over 3 billion barrels

ExxonMobil has revised its oil and natural gas reserves down by over 3 billion barrels. The company said on Thursday that its proved reserves stood at 20 billion oil-equivalent barrels at the end of 2016. That reserve level marked a net reduction of 3.3 billion oil-equivalent barrels from 2015 levels. The company said that the

Report: Chevron selling Bangladesh gas fields for $2 billion

Chevron has reportedly signed a preliminary deal to sell natural gas fields in Bangladesh to a China-based oil firm. Sources told Reuters that Zhenhua Oil inked a preliminary deal with Chevron to buy the company’s natural gas fields in Bangladesh. Two Beijing-based oil executives told Reuters that the deal is worth about $2 billion. Zhenhua will reportedly partner with China