Subsea 7 has been honored by receiving the 2010 Pipeline Industries Guild Award for Subsea Pipeline Technology.

US supermajor ExxonMobil will increase its capital spending nearly 4% this year to $28 billion as it evaluates new fields around the world, but it cautioned that the global economy remained unsteady.

In a broad-ranging deal, BP will pay Devon Energy $7 billion in cash for assets in Brazil, Azerbaijan and the U.S. deepwater Gulf of Mexico.

US drilling rig company Transocean said today that the newbuild ultra-deepwater drillship Discoverer Inspiration has started working for Chevron in the US Gulf of Mexico.

Oilfield services company, Weatherford International said today it has won a contract by Saipem for precommissioning work on the Urugua-Mexilhao pipeline in the Santos basin, off Brazil.

Petrobras has notified the ANP that it encountered oil at an exploration well in the BM-S-9 area, but wished to clarify that this does not indicate a commercial discovery until further evaluation is conducted.

Russia is considering inviting India's state-run Oil and Natural Gas Corporation (ONGC) to develop oil and gas fields in Russia, the government said today, ahead of Prime Minister Vladimir Putin's visit to India.

Transocean's newbuild ultra-deepwater drillship Discoverer Inspiration has commenced operations for Chevron in the U.S. Gulf of Mexico under a five-year drilling contract.

Croatia's energy companies will change their participation structure in an Adriatic liquefied natural gas terminal project to help make it operational in 2014, an economy ministry source said today.

Subsea 7 recently completed the installation of a pipeline to connect the subsea production trees at the Henry-2 and Netherby locations, offshore Australia.

Chinese state-run energy company CNPC said today it complied with applicable laws in its 2003 purchase of a stake in Kazakh oil company, AktobeMunaiGas, after Kazakh financial police said they were examining the deal.

Brazil's lower house of Congress approved late on Wednesday an amendment to a government oil reform bill that could deprive the biggest oil producing states of a large chunk of royalty revenues.

Gas production at Denmark's DONG Energy leapt 81% in 2009, helping cushion a drop in earnings caused by lower oil, gas and power prices, the state-owned company said today.

Uganda will deliver its decision on UK explorer Tullow Oil's purchase of Heritage Oil's assets in the country by April, a top energy official said on Wednesday.

Indonesia's state oil company Pertamina may miss its crude oil production target of 190,000 barrels per day in 2010 if a new environmental law is enforced, a company official said today.

Statoil is optimistic about the progress of its Marcellus shale joint-venture with Chesapeake Energy Corp but is still looking for proof that the success of U.S. unconventional gas can be replicated elsewhere, Chief Executive Helge Lund said.

BG has made an oil discovery in the North Sea, the Norwegian Petroleum Directorate said today.

Oil fell to below $82 today on expectations for Opec to keep pumping above quotas in the second quarter, pulling prices down from eight-week highs reached a day earlier.

Total is acquiring natural gas shale positions in France, Denmark, Argentina and North Africa, an exploration and production executive for the fifth-largest integrated oil company in the world said Wednesday.

As oil and natural gas prices settle into an equilibrium for now, a new variable is emerging as the most worrisome for Big Oil: the cost of carbon.

The world's big industrialised nations have agreed on the need to address the issue of natural gas supply security, but are not yet agreed that government-owned strategic stocks are the answer, the the International Energy Agency (IEA) said.

Saudi Aramco is making preparations to launch its first pre-salt deep-water drilling campaign off north-west and north-east Saudi Arabia in 2012 in an effort to find oil and gas.

China’s crude oil output rose significantly in February, as major producers try to recover lost ground last year.