Royal Dutch Shell plc (Shell) updates investors on the company’s strategy, setting out a compelling financial outlook to 2025 and building on a strong foundation that will enable it to thrive through the transition to a lower-carbon energy system.

VesselsValue's Head of Offshore, Robert Day, takes a look at Norway's spending over the past 12 months.

Net income for 43 U.S. oil producers totaled $28 billion in 2018, a five-year high. Based on net income, 2018 was the most profitable year for these U.S. oil producers since 2013, despite crude oil prices that were lower in 2018 than in 2013 on an annual average basis.

Chevron Corporation says that, under the terms of its previously announced Merger Agreement with Anadarko Petroleum Corporation, it will not make a counterproposal and will allow the four-day match period to expire. Accordingly, Chevron anticipates that Anadarko will terminate the Merger Agreement.

Exploration performance in Norway has dropped significantly in the last five years, reflecting a deterioration of quality of the prospect portfolio. Despite this, a dramatic increase in high impact drilling is planned for 2019 – results will be a key test of Norway’s ability to sustain exploration into the future.

Mohawk Energy, the expandable tubular well solutions specialist, has received a substantial investment from private equity firm Buckthorn Partners to support its domestic and international growth ambitions.

With the global offshore rig market starting to show signs of picking up, there has been a great deal written about the offshore rig recovery, and while rig owners in a few regions are enjoying high utilization and the dayrate benefits that go along with that, the same cannot be said for the fleet as a whole.

Exploration activity bounced back in 2018 but declining performance points to the limitations of the global exploration drilling opportunity set and the urgent need for its renewal in 2019 and beyond.

CGG S.A. has signed a binding term-sheet with Shearwater GeoServices Holding AS (Shearwater) for a strategic partnership for marine seismic acquisition services and creation of a new streamer technology company.

Houston Energy, L.P. has entered into a strategic agreement with a private equity firm for deepwater Gulf of Mexico non- operated exploration projects. Height Capital Markets, LLC ("Height") served as the sole financial advisor to Houston Energy on its newly formed venture.

Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of USD 965 million in cash. This will increase Equinor’s interest from 23.55% to 46.00%. Anadarko remains the operator with a 33.75% interest, and Chevron retains its 20.25% interest.

Anadarko Petroleum Corporation (NYSE: APC) has announced that its board of directors, in consultation with its financial and legal advisors, has unanimously determined that the revised acquisition proposal it received from Occidental Petroleum Corporation on May 5, 2019 (the "Revised Occidental Proposal") constitutes a "Superior Proposal" as defined in Anadarko's previously announced merger agreement with Chevron Corporation (the "Chevron Merger Agreement").

BP has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dragon Oil, the Dubai-based oil and gas company. Under the terms of the agreement, Dragon Oil will purchase producing and exploration concessions, including BP’s interest in the Gulf of Suez Petroleum Company (GUPCO). Dragon Oil is a wholly-owned subsidiary of the Emirates National Oil Company (ENOC).

Petrobras reported a net profit of R$ 4 billion in the first quarter of 2019, an increase of 92% over the fourth quarter of 2018, mainly due to the lower occurrence of special items, with a total of R$ 600 million (negative). Adjusted EBITDA of R$ 27.5 billion was 6% lower than the fourth quarter of 2018, mainly driven by lower Brent prices, while free cash flow was positive for the 16th quarter in a row, with a total of R$ 12.1 billion.

The Maria field in the Norwegian Sea came onstream a year ahead of schedule and ~$370m underbudget.

TGS-NOPEC Geophysical Company ASA has announced that it has agreed on the principle terms for the acquisition of Spectrum ASA, of 2D and 3D seismic data. creating a leading provider.