Barakah Offshore Petroleum’s subsidiary, PBJV Group Sdn Bhd (PBJV), has received a Letter of Award from Sarawak Shell Berhad/Sabah Shell Petroleum Co.

Iraqi troops reportedly seized control of a strategic area in Baiji on Friday, clearing a route into the city's oil refinery, where fighting with Islamic State (IS) militants has raged for the last two months.

Saudi Arabia's rapid transition into one of the world's largest oil refiners adds an extra dimension to the oil exporter's role as the driver of OPEC policy.

The mobile offshore drilling unit (MODU) market continues to weaken in 2015, reports Odfjell Drilling during its 1Q 2015 investor presentation.

The Norwegian Petroleum Directorate (NPD) has granted Statoil Petroleum a drilling permit for well 6706/11-2 on the Gymir prospect.

The United States Attorney’s Office of the Eastern District of Louisiana announced that Race Addington, 49, of Houston, Texas, was sentenced for making false statements to Bureau of Safety and Environmental Enforcement (BSEE) inspectors in relation to the veracity of blowout preventer testing on an offshore oil and gas platform located at Ship Shoal 225 on a federal mineral lease in the Gulf of Mexico.

Cooper Energy, an Australian oil and gas company, has completed the acquisition of 50% interest in the Sole gas field, located offshore Australia, and Orbost Gas Plant, with the project entering Front End Engineering and Design (FEED) phase.

Crude oil futures edged up on Monday as firm global demand vied with a strong dollar, but a public holiday in the United States and much of Europe kept trading muted.

Bentec, a manufacturer of drilling rigs and oilfield equipment has won three multi-million dollar contracts.

The launch of the Turkish Stream can be expected no earlier than 2017, according to the Turkish Ambassador to Russia.