MOL has signed an agreement with Chevron Global Ventures Ltd and Chevron BTC Pipeline, Ltd to acquire their non-operated E&P and mid-stream interests in Azerbaijan, including a 9.57% stake in the Azeri-Chirag-Gunashli (“ACG”) oil field, and an effective 8.9% stake in the Baku-Tbilisi-Ceyhan (“BTC”) pipeline that transports the crude to the Mediterranean port of Ceyhan, for total consideration of USD 1.57bn (subject to adjustments at closing).

International E&P companies are struggling to make money from offshore investments made during the latest investment upturn, according to a new study by Rystad Energy.

Of the 38 global oil and gas discoveries made in Q3 2019, six were located in Norway. This was followed by Colombia with five discoveries, Egypt and Trinidad with four each, and Guyana and the United Arab Emirates (UAE) with three each, according to GlobalData, a leading data and analytics company.

McDermott International, Inc. (collectively with its subsidiaries, the "Company") announced that it has entered into an agreement (the "Agreement") with certain of its secured lenders (the "Lenders") under which the Company will have access to up to $1.7 billion of additional financing, including letter of credit capacity.

Fugro has taken notice of a press release from HC2 Holdings, Inc., (HC2) in which it announces the sale by Global Marine Group (GMG) of its stake in Huawei Marine Networks (HMN). Through its ownership of 23.6% in GMG, Fugro will be able to monetize part of its non-core interest in GMG.

Heavyweight oilfield service providers like Saipem and Baker Hughes are diversifying beyond oil and gas development projects and are moving increasingly into renewable energy projects, Rystad Energy finds.

Seaborn Networks, a leading developer-owner-operator of transoceanic subsea fiber optic cable systems (Seaborn), and Anova Financial Networks, an international carrier and market data provider (Anova), announced today the formation of a strategic alliance to provide the first ultra-low latency (ULL) fiber connection between the financial centers of São Paulo, Brazil and Chicago, USA.

Unplanned outages are on the rise globally from both equipment failures and damages. Smaller operators do not have the excess capital to conduct the same level of planned outages.

Around $90 billion will be spent on construction and conversion of floating production systems over the next five years. This forecast, just completed by World Energy Reports, reflects the strong underlying market drivers supporting future investment activity in the deepwater sector.

Talos Energy Inc. ("Talos," or the "Company") (NYSE: TALO) has announced that the Company will be added to the S&P SmallCap 600 Index, effective November 1, 2019, prior to the market open. The S&P SmallCap 600 measures the small-cap segment of the U.S. equity market and consists of 600 domestic stocks selected by Standard & Poor's Index Committee based on certain criteria, such as market capitalization and financial viability.

South America has the highest number of planned and announced floating production storage and offloading (FPSO) additions globally between 2019 and 2025, with 27 projects. This is followed by Africa, Asia and Europe with a respective 15, eight and seven FPSOs, says GlobalData, a leading data and analytics company.

U.S. crude oil production in the U.S. Federal Gulf of Mexico (GOM) averaged 1.8 million barrels per day (b/d) in 2018, setting a new annual record.

Exxon Mobil Corporation had announced estimate third quarter 2019 earnings of $3.2 billion, or $0.75 per share assuming dilution. Earnings included a favorable tax-related identified item of about $300million, or $0.07per share assuming dilution. Capital and exploration expenditures were $7.7 billion, including key investments in the Permian Basin.

Well-Safe Solutions has secured a significant new tranche of investment, in excess of £66 million, to fund the next phase of its journey as a tier one well decommissioning company.

Prysmian receives binding offer from Carlisle Companies Incorporated for the acquisition of the business of Draka Fileca SAS

While global offshore exploration activity has been flat year-to-date, the situation has been far more buoyant on the Norwegian Continental Shelf (NCS), where the number of wells drilled could challenge all-time high levels by the end of the year.