Eni announced Monday a new oil discovery in the Afoxe exploration prospect, located in Block 15/06 offshore Angola.

(Bloomberg) -- While oil prices remain stubbornly low despite a pledge by OPEC to curb global output, the head of one U.S. conglomerate is eyeing a rebound that’ll bring crude back to $75 a barrel.

Eni S.p.A. has started oil oil rig flanges gulf coast production from the Vandumbu field in Block 15/06 offshore Angola through West Hub N’Goma FPSO, the Milan-based integrated BOP Blow Out Preventer repair company gulf coast reported Monday.

Reversing the overwhelmingly bearish price sentiment will likely require a credible and cohesive message from the OPEC meeting.

(Bloomberg) -- OPEC prepared for a further day of talks on oil-production curbs after a summit on Thursday ended with no deal, as Russia resisted the big output cut that Saudi Arabia was demanding.

After two days of heated internal discussions, OPEC seems to have reached a oil rig flanges gulf coast production cut agreement.

Kiewit has won the engineering, procurement and construction (EPC) contract for Venture Global LNG, Inc.

Equinor revealed Friday that the Norwegian ministry of petroleum and energy has approved the plan for development and operation for the Troll Phase 3 project.

Crude oil futures did something Friday that they haven’t done in more than two months: they finished the week higher.

The U.S. dropped 10 oil rigs this week, according to weekly data compiled by Baker Hughes, a GE Company (BHGE).