Norwegian state-owned giant Equinor and its compatriot Sval Energi have entered into an agreement for the sale of Equinor’s non-operated share in the Greater Ekofisk Area and a minority share (19 per cent) in the Martin Linge field, both located in the North Sea offshore Norway.

Brazilian oil and gas giant Petrobras has revealed its intention to invest $16 billion in the Campos Basin revitalization project, planning to install three new FPSOs and interconnect more than 100 wells over the next five years. The company has also set its sights on investing $5.5 billion in oil and gas extraction activities, hoping to unlock new discoveries in Brazil.

Proxy advisory firm Glass Lewis has recommended Woodside Petroleum shareholders reject the company’s climate report at its annual meeting this month, saying it lacks substance.

Hydrocarbon exploration and production company Energean has made a commercial gas discovery in Block 12 offshore Israel, bolstering its beliefs in the potential of the newly defined Olympus Area.

Spanish oil and gas company Repsol has experienced production interruption at its operated Yme field located in the North Sea offshore Norway but the field has now been restarted.

Singapore’s Keppel Offshore & Marine, through its subsidiary Keppel Shipyard, has been awarded contracts worth around S$250 million (about $181 million) from repeat customers for the integration of two floating production storage and offloading (FPSO) vessels.

Norwegian oil and gas company Equinor is extending its contracts with three oilfield services giants – Baker Hughes Norge, Halliburton, and Schlumberger Norge – for integrated drilling and well services on its operated fields on the Norwegian continental shelf (NCS).

Shell reported on Thursday a profit of $9.13 billion in the first quarter, its highest ever, boosted by higher oil and gas prices and a strong performance of its trading division.

Following Russia’s invasion of Ukraine, the European Union has proposed a ban on all Russian oil imports, aiming to phase out Russian crude oil within six months and refined products by the end of the year.

Volkswagen, Europe’s top carmaker, is concerned about the impact a ban on Russian energy imports would have on its business, its CEO said on Wednesday, adding it was upgrading energy supply for its Wolfsburg factory to use alternative fuel sources.