Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending…
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…
China has ramped up fuel exports to compensate for losses to domestic demand as it grapples with the coronavirus outbreak, having not been able to prevent a surplus in the world's second-largest oil consumer with cutbacks in its refining output…
Fuel flexibility and technologies to bridge changing fuel usage have been identified in the Maritime Forecast to 2050 as essential strategies for both individual owners and the shipping industry to adapt to the energy transition and prepare for a low carbon future…
UK-based marine environmental and planning consultancy MarineSpace Limited has been awarded a place on the UK environmental impact assessment (EIA) framework agreement for Ørsted Wind Power A/S.The award means MarineSpace will be eligible to…
Rystad Energy said the oil market was going “from gloomy to gloomier”, calling into question the consultancy's own bullish view for the first part of 2020.Recent developments in the oil market have sent cold shivers through Rystad Energy’s oil market team…
Oil & natural gas company Brunei Shell Petroleum Company Sdn Bhd (BSP) has awarded AqualisBraemar a frame agreement to conduct rig inspection services for the operator.The agreement is valid for three years with an option to extend the contract for additional periods of three times one year…
Hydrogen fuel cell technology to Satisfy Future IMO RequirementsWith an ongoing push by the maritime community to reduce ship emissions to satisfy IMO MARPOL Annex VI regulations and limit the sulfur content of ships from 01 January 2020 to 0…
Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world's oil output.Brent crude was up $0…
U.S. energy firm Anadarko Petroleum Corp gave the go-ahead on Tuesday for the construction of a $20 billion gas liquefaction and export terminal in Mozambique, the largest single LNG project approved in Africa, according to the government of Mozambique and energy consultancy Wood Mackenzie…
Oil prices settled 2.2% higher on Thursday after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping routes.The attacks near Iran and the Strait of Hormuz reignited…
The Dubai Electricity and Water Authority (DEWA) has issued a request for proposal (RFP) to appoint consultants to study, develop and construct floating solar photovoltaic plants in the Arabian Gulf.'This is a new and innovative initiative by…
Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday.Total capital expenditure in renewables will rise above $30 billion in the region by 2020…
North American tight oil is emerging as the second cheapest source of new oil volumes globally, just shy of the Middle East onshore market, Rystad Energy said.The U.S. shale oil was the world’s second most expensive oil resource just four years ago…
Oil prices fell on Monday after U.S. President Donald Trump said he would sharply raise tariffs on Chinese goods this week, risking the derailment of trade talks between the world's two biggest economies.U.S. West Texas Intermediate (WTI) crude futures were at $61…
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