Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects.

Producers are already restarting oil wells in North Dakota as prices come off record lows, but talk of a recovery is premature, said the state’s energy regulator.

Offshore engineering and construction company McDermott has said it has been given "a sizeable" contract from a Middle East customer to carry out front-end engineering and design (FEED) work for offshore riser platform topsides.

French oil major Total has agreed with Odfjell Drilling to keep the Deepsea Stavanger offshore drilling rig idle for a while due to the COVID-19 situation.

Oil prices have surged to two-month highs on growing signs of a rebound in oil demand, as the easing of lockdowns spread worldwide. At its peak in April, global lockdown measures affected around 3.9 billion people.

Total SA abandoned a plan to acquire assets from Occidental Petroleum in Ghana, walking away after a proposal to buy Algerian projects from the U.S. company also collapsed.

While the rest of the world is tentatively coming out of lockdowns, China is taking advantage of the cheapest crude oil in years to stock up as demand is starting to return in the world’s largest oil importer, Bloomberg reported on Friday, citing tanker-tracking data it has compiled.

In the span of just six months, Europe’s biggest oil and gas companies raced to commit to net-zero emission targets in response to increased investor and societal demands to start addressing the elephant in the room.

Norwegian marine seismic surveyor Shearwater GeoServices has won a contract with Apache for a 4D seismic survey with 3D extension over the Forties Field in the UK North Sea.

In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production.