Rigzone Industry News

BP plc and Abu Dhabi National Oil Co PJSC have together proposed to acquire 50 percent of NewMed Energy's equities.

Heat pumps may be essential to Britain's ambitions to cut emissions and reduce exposure to volatile energy markets.

The world's biggest oil traders say they are still avoiding handling Russian crude.

Oil posted the worst weekly loss since the early months of the coronavirus pandemic as banking turmoil poisoned investor sentiment.

The US is committed to replenishing the Strategic Petroleum Reserve but won't rush to do so immediately despite the recent decline in oil prices, a top Biden administration official said.

'A seamless transition requires policies that utilize a mix of all energy sources'.

'The president is committed to ending tens of billions of dollars of federal tax subsidies for oil and gas companies'.

'The Ranger acquisition is strategic'.

Baker Hughes has been contracted by Azule Energy to provide subsea equipment and services for the Agogo oilfield.

Sabic has a market valuation of $73 billion, more than that of any other listed chemicals firm.