BP ($BP) cuts in oil exploration could hurt struggling offshore exploration companies like Transocean ($RIG). UK oil major BP has drastically scaled back the

by Mikael Holter (Bloomberg) Explorers in 2015 discovered only about a tenth as much oil as they have annually on average since 1960. This year,

(Reuters) Exploration firms have made a rare run of oil and gas discoveries in recent weeks as more targeted search strategies bear fruit, but they offer

Italy and Malta’s prime ministers reached an agreement today for joint oil and gas exploration in the Mediterranean Sea between the islands of Sicily

(Bloomberg) Myanmar’s opening to foreign investment has been compared to the fall of the Berlin Wall and the start of an economic growth story to

For the first time in five years, more than 60 oil companies are set to bid on exploration permits offshore Brazil, taking on risks of drilling in virgin

By Saabira Chaudhuri Chevron Corp. (CVX) has signed petroleum agreements related to three offshore areas in Morocco, a push to expand its footprint in frontier

The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) announced late last week that BP and Shell were the successful bidders for exploration licenses

China and Japan sat down for talks and agreed to jointly develop a natural gas field under the East China Sea, defusing a dispute between Asia’s

BUENOS AIRES–Uruguay’s government on Friday signed offshore exploration deals with four oil and gas companies that have committed to invest $1.65

TRONDHEIM, Norway–Norway Tuesday pushed ahead with plans to award oil and gas drilling licenses mainly in the vital Arctic area, in a bid to open up new

Chevron Corp. (CVX) said it would join with Kosmos Energy Ltd. (KOS) to explore for oil off the coast of Suriname, as the oil giant seeks an entry into

Babcock has successfully completed the first phase of a contract awarded by Shell, to integrate a novel self-stabilizing gangway system onboard the subsea

SYDNEY (Dow Jones)–Australia’s government on Sunday said it has awarded 12 new petroleum exploration permits for off the coast of Western Australia

The United Kingdom has stated they will share in a large discovery of oil off the coast of the once disputed Falkland Islands.  With royalties from the

LONDON (Dow Jones)–The U.K. has awarded 46 new licenses to explore for oil and gas in the North Sea, the Department of Energy and Climate Change

Oil-drilling activity in the U.S. has accelerated to a pace not seen in a generation as energy companies, oilfield contractors and landowners rush to exploit

HOUSTON, Feb. 2, 2011 – Marathon Oil Corporation (NYSE: MRO) announced today a $5.267 billion capital, investment and exploration budget for 2011,

For Statoil and Transocean’s crew assigned to the Discoverer Americas, heading to Egypt had always been part of the long term plan, however in this case,

Aker Solutions’ new deepwater intervention vessel, Skandi Aker, has today been announced winner of the coveted international “Ship of the Year