Chinese independent refiners have snapped up rare crude grades from the North Sea and Guyana at low prices in an oversupplied market after the coronavirus pandemic destroyed demand, four sources with knowledge of the matter said on Tuesday.The North Sea grades bought included Balder…
Royal Dutch Shell said on Tuesday its Australian unit and joint venture partners had decided to delay a final investment decision (FID) on the Crux gas project in offshore Australia that was initially planned for 2020.The Crux project is one…
French oil firm Total has said it has sold assets in Brunei, Liberia, and Sierra Leone for more than $400 million, as part of its plan to divest $5B worth of assets in 2019-2020 period.The divestments announced Tuesday include non-core assets…
UK oilfield services provider Petrofac has confirmed it is planning staff reductions and furloughing as part of its action to save cash in response to low oil prices and COVID-19 pandemic.Reuters last week reported that Petrofac was planning to reduce the workforce by 20%…
Indonesia's state oil and gas company PT Pertamina produced 421,000 barrels of crude oil per day and 2,887 million cubic feet of gas per day (mmscfd) in the first quarter of 2020, it said in a statement on Monday.'Amid work and personnel adjustment due to the COVID-19 pandemic…
Jack-up drilling rig contractor Shelf Drilling has been slapped with another early rig contract termination, its third in the past month.Shelf Drilling on Monday said that it had entered into a mutual agreement with the client 'to amend the…
Lebanon has postponed the deadline for submissions of applications for its second offshore licensing round once again.Lebanon had in January postponed the deadline from January 31 to April 30 to allow international firms more time to pursue administrative…
PetroVietnam's net profit in the first quarter of this year likely fell 50.8% from a year earlier to 4.44 trillion dong ($188.5 million) due to low oil prices and weak demand due to the new coronavirus, Vietnam's state oil firm said on Sunday…
Malaysia's state energy giant Petronas, struggling with weak prices and falling demand, said on Friday its own funding needs and debt obligations would dictate any special dividend to the government amid the coronavirus crisis.The government…
OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the coronavirus pandemic…
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47%…
Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020.The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…
Australian offshore oil and gas safety regulator NOPSEMA has approved Woodside's offshore project proposal (OPP) from for the development of the Scarborough gas fields off northern Western Australia.The OPP is the primary Commonwealth environmental…
China National Offshore Oil Corp (CNOOC) has signed an agreement with newly launched PipeChina on transferring management rights for oil and gas infrastructure projects, the company said in a statement on Wednesday.The statement did not give details on what projects have been handed over…
Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development 'within a month or two.' The wait is now set to be prolonged 'indefinitely.'Namely…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week