The UK-based oilfield services firm Petrofac has won more work from Repsol Sinopec Resources UK for offshore maintenance operations on oil platforms in the UK North Sea.

Norwegian oil firm Equinor will cut its quarterly dividend payment by two-thirds as part of an effort to preserve cash amid the collapse in crude prices, it said on Thursday.

Tullow Oil concluded a years-long process to sell its Uganda assets to Total SA, the first step in an asset-sale program that’s crucial to reducing its debt. The shares jumped the most on record.

More than 30 companies, including commodities traders like Gunvor and Vitol as well as units of oil majors like Exxon Mobil and Royal Dutch Shell, submitted expressions of interest for a contract to market the Guyanese government's share of the country's crude, the government said on Tuesday.

Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.

Norwegian oil firm Aker BP has started production from the first Ærfugl phase 2 well in the Norwegian Sea, which is, according to the company, three years ahead of the original plan.

The oil markets have just gone through an epic long squeeze, with oil prices crashing into negative territory for the first time in history. 

One day after WTI crude closed at -$37.01, the Texas Railroad Commission declined to vote on a proposal to set limits on oil production in the state. In political parlance, the commission kicked the proverbial can down the road for two weeks.

President Donald Trump said his administration is working on a plan to make money available to the oil industry to prevent the loss of jobs after prices plunged below zero.

The most ambitious bid to rescue the global oil industry ever seen has been swept aside by a brutal wave of demand destruction.