Statoil makes Gulf of Mexico discovery
Statoil and its partners have struck oil in the Gulf of Mexico, but more work is needed before the Norwegian oil company can determine the size of the discovery.
View ArticleMaersk gets approval for $4.5 billion U.K. North Sea gas field
The field, located in the central part of the British area of the North Sea, is expected to produce enough natural gas to meet 5 percent of the U.K.’s total demand in 2020 or 2021.
View ArticleMaersk Oil cuts $1 billion in spending
aersk Oil is following the rest of the industry in cutting jobs and lowering investments after crude prices dropped about 50 percent over the past 12 months.
View ArticleOil exports bill ensnared in maritime fight
An energy industry push for oil exports has been ensnared in a fight over new maritime spending, right before a critical House vote on liberalizing crude trade.
View ArticleMaersk cutting up to 12 percent of oil jobs
The move will help Maersk Oil reach its goal of cutting expenses by 20 percent by the end of 2016 and brings the total number of job cuts this year to about 1,250.
View ArticleMaersk oil profit sank 86 percent last quarter
Maersk Line said on Nov. 4 it will cut as many as 4,000 jobs, scale back capacity and delay investments to cope with a weaker container market.
View ArticleMaersk trims Houston office, weighs restructuring Angola deep-water project
The oil-production arm of Danish shipping conglomerate A.P. Moeller-Maersk has cut two thirds of its employees in Houston since the oil-market downturn began in 2014. The most recent cut will leave...
View ArticleHercules Offshore could be pushed back into bankruptcy
Shallow-water driller Hercules Offshore could be forced into bankruptcy for the second time in less than a year as some creditors claim it has defaulted on a $450 million loan, according to regulatory...
View ArticleMajors vie for Qatar offshore oil field operation
Chevron Corp., Royal Dutch Shell Plc, Total SA, ConocoPhillips and Maersk Oil Qatar submitted bids to operate Qatar’s biggest offshore oil field, according to two people with knowledge of the matter....
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