Oil prices slid more than 4% on Friday after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices. Brent and WTI crude futures tumbled by nearly $3 a barrel, or more than 5%, after the report…
Lukoil shook up its oil production business on Wednesday, promoting a low-profile executive and splitting the role of a veteran of Russia's top private oil producer, who is seen as a possible future leader. đRussia's second-biggest oil producer…
Australian oil and gas company Santos will not be farming into Melbana Energy's Beehive prospect sitting in the shallow waters in the Bonaparte Basin off W. Australia.Santos had an option to acquire an 80 percent interest in the offshore block in exchange for drilling costs of one exploration well…
Malaysian energy services firm Uzma has a contract with Shell for plugging and abandonment work offshore Malaysia.Under the letter of award signed with Shell's subsidiaries in Malaysia, Uzma will provide platform wells plug and abandonment campaign…
Coronavirus concerns prompted organizers on Sunday to cancel one of the world's most prestigious gatherings of oil ministers and top executives from the energy and financial industries scheduled for this month in Houston.The fast-spreading virus has infected around 85…
OPEC's proposal to cut oil production by up to 1 million barrels a day would be enough to balance the oil market and lift prices to $60 a barrel, Leonid Fedun, vice-president of Russian oil producer Lukoil, told Reuters. The comments from Fedun…
Offshore installation contractor Subsea 7 on Tuesday said it had won a contract from Murphy Oil for the provision of the subsea installation services related to the Samurai, Khaleesi, and Mormont developments in the U.S. Gulf of Mexico.The contract…
Subsea 7 has won what it describes as 'a large contract' by ConocoPhillips in Australia. Subsea 7 defines a large contract as between $300 million and $500 million.The contract is for the supply of the SURF scope for the Barossa Project. The…
Oil prices fell over 2% on Thursday, plunging for a fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fuelled fears of a pandemic that could slow the global economy and dent demand for crude.Brent crude was down $1…
Italian oilfield services firm Saipem has signed a memorandum of understanding with the Saudi construction company Abdel Hadi Abdullah Al Qahtani & Sons Company (AHQ). Saipem said Tuesday that the memorandum set the path to towards the creation of a Joint Venture in Saudi Arabia…
Lebanon's much-delayed search for offshore oil and gas is set to begin on Thursday with the results from its first exploratory well expected in the next two months, the chairman of the Lebanese Petroleum Administration (LPA) said on Wednesday…
Malaysian state oil firm Petronas said on Wednesday its fourth-quarter profit slumped 71%, hurt by impairment costs and lower prices of major products.Petronas said profit after tax for the October-December period fell to 4.1 billion ringgit ($968…
The Chinese oil company CNOOC has, via its European subsidiary, extended a contract for logistics management with ASCO. Under the five-year extension worth over 100 million pounds, ASCO will continue supporting CNOOC Petroleum Europe Limited's North Sea assets…
Alaskan focused oil and gas group, 88 Energy Ltd (ASX:88E) provided a further update on Monday regarding the progress of the group’s Charlie-1 appraisal well on the North Slope of Alaska.With the rig mobilised and drilling to start this weekend…
A Dubai court has ruled that Floatech, a subsidiary of Malaysia's TH Heavy Engineering, must pay $6,25 million to Dubai's Drydocks World.Drydocks World in April 2019 presented Floatech with a writ of summons demanding Floatech to pay the $6…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
