Subsea Integration Alliance, a partnership between Subsea 7 and Schlumberger's OneSubsea, has officially received the contract for the delivery of subsea equipment and flowlines for Equinor's recently sanctioned Bacalhau field development offshore Brazil.

The Biden administration is suspending Arctic refuge drilling rights that were sold in the final days of Donald Trump’s presidency, dealing a victory to environmentalists who have argued for decades against oil development in the remote, wild region of Alaska.

Thousands of new oil wells and hundreds of new oilfields will be needed to meet global demand even if it falls sharply towards the middle of the century, Oslo-based consultancy Rystad Energy said last Friday.

Chevron and top American oil-service companies won an extension to keep a limited presence in Venezuela despite U.S. sanctions intended to starve President Nicolas Maduro’s regime of petrodollars.

OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global recovery.

Exxon Mobil is pulling out of a deep-water oil prospect in Ghana just two years after the west African nation ratified an exploration and production agreement with the U.S. oil titan.

Norwegian oil company OKEA has with partners Petoro and Neptune Energy decided to develop the Hasselmus offshore gas discovery in the Norwegian Sea as a tie-back to the Draugen platform.

Iran’s oil minister said the country can increase its crude production rapidly, as world powers enter the final stages of negotiations to revive a 2015 nuclear accord with the Islamic Republic.

Energy giant TotalEnergies said on Friday it had gone as far as it could for now to limit the revenues going to the military junta in Myanmar while staying within a legal framework and assuring power supplies.

Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic.