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Oil retreats as investors pare bets on Middle East war risk

*Oil prices – Brent, WTI down 1.5%– Concern over potential oil supply disruption eases– China ‘fully confident’ it will meet full-year economic targets Singapore — Oil prices fell more than $1 a barrel on Tuesday […]

McDermott wins EPCI contract for Qatar’s North Field South offshore project

(WO) — McDermott has secured an engineering, procurement, construction, and installation (EPCI) contract from QatarEnergy LNG for the North Field South (NFS) offshore pipelines and cables project. This contract adds to McDermott’s previous […]

Chevron to sell $6.5 billion in oil sands, shale assets to Canadian Natural Resources

(WO) – The deal relates to Chevron’s 20% interest in the Athabasca Oil Sands Project and a 70% holding in the Duvernay shale, both in the province of Alberta, according to a statement from the company […]

Shell’s third-quarter refining margins drop sharply

*Wael Sawan, Shell CEO. London — Shell’s refining profit margins dropped sharply in the third quarter from the previous three months as global demand sagged, while oil product trading earnings also weakened, it said on […]

Exxon faces $1.6bn earnings drop from oil and refining margins

*ExxonMobil headquarters logo Newswire — ExxonMobil Corp. said lower oil prices and refining margins reduced third-quarter earnings by $1.6 billion compared with the previous period. The oil giant revealed quarterly earnings guidance in a regulatory […]

IDEC released updated SmartAXIS touch family with FT1J Series combined PLC+HMI

(WO) – IDEC Corporation has updated its SmartAXIS touch family with the new FT1J Series combined PLC+HMI. This device combines a built-in full function controller, both onboard and expandable I/O, and an advanced technology 4.3” […]

Chesapeake, Southwestern complete $7.4 billion merger, rebrand as Expand Energy

(WO) — Chesapeake Energy Corporation and Southwestern Energy Company have officially completed their merger, forming a newly rebranded entity, Expand Energy Corp. Expand Energy has began trading on the NASDAQ under the ticker symbol “EXE”. […]

TotalEnergies announces FID for GranMorgu development in Suriname

*A logo of TotalEnergies is seen at an electric vehicle fuelling station in the La Defense business district in Courbevoie near Paris, France, February 8, 2023. REUTERS/Sarah Meyssonnier/File Photo Lagos — The Chairman and CEO […]

Exxon faces $1.6 billion earnings drop from oil and refining margins

(Bloomberg) — ExxonMobil Corp. said lower oil prices and refining margins reduced third-quarter earnings by $1.6 billion compared with the previous period. The oil giant revealed quarterly earnings guidance in a regulatory filing Thursday. The […]

Saja Energy named official Middle East neotork downhole management tool distributor

(WO) – Neo Oiltools, a creator of drilling performance tools for the oil and gas industry, announced today that Saja Energy, a Saudi Arabia-based provider of world-class energy sector products and services, is the official distributor […]