Danish offshore drilling company Maersk Drilling has won an 11-month contract extension for its jack-up drilling rig Maersk Intrepid with Equinor in Norway, which will see the drilling firm earn more than $100 million.

Gone are the days when Somalia's Gulf of Aden was considered the most dangerous piracy zone for oil companies and other seafarers.

Norway's minority government proposed on Thursday to temporarily change tax rules for oil firms in a bid to prevent a collapse in investments amid the COVID-19 pandemic, Prime Minister Erna Solberg said on Thursday.

Drilling firm Valaris has announced plans to axe over 330 jobs slashing hundreds of drilling positions across the company’s fleet

Prices have collapsed and storage is nearly full. The only option for many producers is to shut in their wells. That means no income. Most have considerable debt so bankruptcy is next.

Corallian Energy, with its partners Upland Resources and Baron Oil, has signed a work-sharing agreement with a "large European E&P company" that might lead to a farm-out of a stake in the offshore license P2478 in the Inner Moray Firth, Scotland, UK.

In the last couple of months, the global energy industry has been flipped on its head. As the novel coronavirus pandemic ravaged economies around the world, the energy industry took a particularly brutal hit, made infinitely worse by an oil price war between the leading OPEC+ countries of Saudi Arabia and Russia.

BP’s first quarter earnings plunged by two-thirds, and its debt levels rose to a record high.

The two nations acted prior to the May 1 deadline set by OPEC+

Employees and Aberdeen MSP lash out at company for not using government furlough scheme