India's Reliance Industries has cut the pay of some top oil-and-gas division employees by up to 50%, according to six sources and a letter seen by Reuters, as it battles lower profitability because of the coronavirus epidemic.Reliance, headed by India's richest man…
Jack-up rig specialist Borr Drilling has sold two jack-up drilling rigs and backlog associated with them effective from April 1, 2020, for $15.8 million.The two jack-ups, the Dhabi II and Paragon B152, built in 1981 and 1982, respectively, are on contracts with UAE's ADNOC…
Qatar Petroleum, one of the world's biggest energy companies, plans a new wave of job cuts and spending reductions to cope with the slump in oil and gas demand which has hit global economies, two sources familiar with the matter said.Economic…
The Dutch owner of a fleet of offshore jack-up service vessels Seafox has made a non-binding proposal to take over the UAE-based jack-up specialist GMS. Both companies provide offshore service support jack-up units for hook-up and commissioning in the oil & gas and offshore wind industries…
Woodside Petroleum's final investment decision on the $11 billion Scarborough gas project will require stable oil prices and credit ratings, the company's CEO said on Thursday.The company in March deferred a final investment decision on the…
Norwegian seismic data acquisition company PGS has said it has completed the acquisition phase of its Painimaut 3D MultiClient program, offshore Papua New Guinea.Using its Ramform Hyperion seismic survey vessel, PGS has gathered over 6 100 sq…
Malaysia's largest oil and gas services company Sapura Energy said on Thursday it expects a delay in projects due to the historic rout in oil prices and as widespread coronavirus shutdowns hit demand.'Delays are inevitable,' Chief Executive Shahril Shamsuddin said in an earnings conference call…
Keppel Offshore & Marine, an offshore construction subsidiary of Singapore's Keppel Corp, expects challenging conditions ahead due to the drop in oil prices but says its business diversification into gas and renewables has paid off.The company…
CNOOC Ltd on Wednesday lowered its 2020 oil and gas production and capital spending, China's state offshore oil and gas producer said.It cut its capital spending target by 10 billion yuan ($1.41 billion) to a range of 75-85 billion, CNOOC said…
Australian offshore safety regulator NOPSEMA has approved Inpex's application to install Umbilicals, Risers and Flowlines (URF) infrastructure as part of the next stage of the development of the Ichthys gas and condensate field offshore W. Australia…
Oslo-listed marine seismic services company Polarcus has signed a contract for a survey in the Asia Pacific region.Polarcus said Wednesday that it had received a deal for an XArray marine seismic acquisition project, without disclosing the identity of the client nor the financial details…
From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because of the coronavirus pandemic…
Malaysian FPSO supplier Yinson has signed a deal with Japan's Sumitomo for the latter's participation in the Marlim FPSO project.Yinson said Thursday that the two companies concluded an agreement for their participation in the charter, operations…
Inpex sold a liquefied natural gas (LNG) cargo from Australia's Ichthys plant for loading in May at what traders say is a record low price.Inpex had offered two cargoes for loading in May and has sold at least one of them at about $1.70 to $1…
BP's first-quarter profits tumbled by two-thirds as the coronavirus crisis hammered oil demand and the energy major's debt rose sharply as it warned of exceptional uncertainty ahead.London-based BP said it expected significantly lower refining…
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