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The latest upstream oil and gas news from around the world.

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Papua New Guinea Government To Sell Stake In Oil Search

Thu, 21 Sep 2017 00:00:00 GMT

The cash-strapped government of Papua New Guinea (PNG), looking to pay off nearly $1 billion in debt, is selling its stake in Oil Search.

Petrobras CEO Says Transfer Of Rights Talks Still Ongoing

Wed, 20 Sep 2017 00:00:00 GMT

It is unclear when talks will conclude with the government on a revaluation of stakes in offshore oil blocks known as 'Transfer of Rights' areas, a Petrobras executive says.

Russia's Sistema Appeals Against Court Decision To Pay Rosneft

Tue, 19 Sep 2017 00:00:00 GMT

Sistema says it had appealed against a court ruling that it should pay damages to Rosneft.

Premier Oil Seeks Buyer For Stake In North Sea Gas Field

Thu, 14 Sep 2017 00:00:00 GMT

Premier Oil is seeking to sell half of its stake in the Babbage gas field in the North Sea, according to a document seen by Reuters.

Eni Inks Cooperation Deal With China's CNPC

Wed, 13 Sep 2017 00:00:00 GMT

Eni signed a cooperation agreement with CNPC in a move that could give the Italian oil major greater access to the Chinese market.

Seadrill Files for Bankruptcy in Bid to Shrink Debt Burden

Wed, 13 Sep 2017 00:00:00 GMT

Seadrill files for bankruptcy protection after working out a deal with almost all its senior lenders to inject $1B of new money into the company.

Glasenberg Emerges From Rosneft Flip With Oil Deal and Medal

Tue, 12 Sep 2017 00:00:00 GMT

Nine months after surprising the world with an $11 billion venture to buy a stake in Russia's state oil company, Glencore is selling most of it.

Baker Hughes: US Oil Drillers Cut Rigs As Recovery Stalls

Fri, 08 Sep 2017 00:00:00 GMT

US energy firms cut oil rigs for a third time in the past four weeks as a 14-month drilling recovery stalls with energy firms reducing spending plans in response to recent crude price declines.

Oil Services Group Bourbon Sees Brighter Outlook After 1H Profit Slump

Thu, 07 Sep 2017 00:00:00 GMT

Bourbon says that oil companies are restarting projects, which should help its business pick up after profits fell sharply in the first half.

JOGMEC Interested In Global Investments Including Rosneft

Thu, 07 Sep 2017 00:00:00 GMT

JOGMEC is interested in investing in energy companies worldwide, including Russian state energy company Rosneft, JOGMEC President Keisuke Kuroki told reporters.

Canadian Natural Buys Cenovus' Pelican Lake for $787 Million

Tue, 05 Sep 2017 00:00:00 GMT

Canadian Natural Resources agreed to buy Cenovus' Pelican Lake heavy-oil project and other assets in northern Alberta.