Saudi Arabia reduced the amount of crude it will supply next month to seven refiners in Asia after OPEC+ agreed to extend its historic output cuts through July.

NHV Group, a leading provider of B2B helicopter services, today announced it has signed a five-year contract extension with Ithaca Energy (UK) Limited

Baker Hughes announced the completion of the First Engine to Test (FETT) for the LM9000 aeroderivative gas turbine. The test took place at the company’s advanced turbomachinery testing facilities in Florence and Massa, Italy.

Norway's parliament has agreed to give additional tax breaks to the oil industry on top of those proposed by the minority government in a bid to spur investment and protect jobs, the ruling Conservative Party said on Monday.

The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter.

Petrofac’s Engineering and Production Services (EPS) business announces today it has been awarded an Engineering and Project Management Office support contract for the Acorn project.

The world’s largest independent oil trader, privately-held Vitol, saw its net profit collapse by 70 percent in the first quarter of 2020, as the coronavirus pandemic and the plunging oil demand and prices took its toll on oil trade, the Financial Times reported on Tuesday, citing figures it has seen.

Singapore's offshore rig builder Keppel is considering taking legal action against Awilco Drilling after the drilling company on Monday said it had terminated a rig construction contract with Keppel.

Investors were more than annoyed when Royal Dutch Shell slashed its dividend by two thirds. Just last year, the giant oil company announced its plan to pay out huge dividends over the coming five years. Actually, the investors used stronger terms than “annoyed.” They had reason to be annoyed after the strong commitment to the dividend, but maybe they should have previously shown a greater skepticism about the ability of any management to make such a commitment. Times change and perhaps no managements or boards should publicly commit to actions so far ahead of time.

Norwegian oil company Aker BP has ordered the topside and steel substructure from Kvaerner for the normally unmanned wellhead platform at the Hod field. Kvaerner said the deal means that laid-off staff would return to work at its Verdal yard.