Rigzone Industry News

Oil retreated after testing a key technical level, but still held near a five-month high as shrinking US inventories and surging Chinese imports added to signs of a tightening global market.

Drilling simulation technology provider Drilling Systems has secured a contract with Malaysian oil and gas company Petronas.

The Norwegian Petroleum Directorate revealed Thursday that Aker BP ASA has made an oil discovery in the North Sea.

The U.S. will scrap some congress-mandated sales from the strategic petroleum reserve.

Wartsila has secured a deal to operate power modules on 3R Petroleum's FPSO, as well as to provide maintenance over a three-year period.

Remotely operated vehicle solutions provider ROVOP has secured a new $25 million senior credit facility with Cordiant Capital.

Oil production from the block could start as early as two years after a deal is signed.

The U.S. Energy Information Administration increased its average Brent spot price forecast for both 2023 and 2024.

The Biden administration's plan to stifle auto pollution and spur electric vehicles is expected to shrink U.S. oil demand.

Representatives of Piper-Morgan Search and HireStrong LLC share their views.