Royal Dutch Shell has proposed linking its directors' pay more closely to the group's climate performance and severing the link between bonuses and liquefied natural gas (LNG) production volumes, it said on Monday.

Malaysian oil and gas company Petronas has become the first energy company to produce LNG from two floating LNG facilities, after the LNG shipment was delivered by its floating LNG facility PFLNG DUA on Wednesday, March 24.

Floatel International, a company providing offshore accommodation rigs for the oil and gas industry, said Wednesday it had successfully completed its comprehensive balance sheet restructuring.

British North Sea-focused oil producer EnQuest is "confident" it will secure a refinancing deal needed to buy an additional 10,000 barrels per day of output capacity, it said on Thursday, as it reported a 43% drop in free cash flow in 2020.

INEOS Energy on Thursday announced the sale of its oil and gas business in Norway to Poland's PGNiG for $615 million.  

The UK government said it has reached an agreement with the country’s oil and gas industry that will help safeguard jobs as the nation strives to achieve net-zero emissions of greenhouse gases.

Campaigners have pushed ministers to rule out new licences for gas and oil exploration as part of the road to net zero.

Norwegian energy intelligence group Rystad Energy expects to see an increase in offshore wells drilled this year and the next one, compared to 2020, when the number was hit by low oil prices and the pandemic.

The UK on Wednesday announced a landmark deal aimed at supporting the oil and gas industry’s transition to clean, green energy. It also said it would introduce the "Climate Compatibility Checkpoint" before future licensing rounds.

Oil prices have sunk about 12% in less than two weeks amid softening physical demand and the unwinding of long positions.