Unique Group acquired subsea technology and equipment manufacturer Subsea Innovation. The deal elevates Unique Group’s global engineering capabilities, enhances its portfolio and further strengthens the organization’s focus on engineering excellence and technology development…
U.S. oil producer ConocoPhillips missed Wall Street bets for first-quarter profit on Thursday, as lower natural gas prices and increased costs offset gains from higher oil production.A milder-than-expected winter hurt demand for the heating fuel in the quarter and pulled down U…
The Taliban has agreed with Kazakhstan and Turkmenistan to build a logistics hub in western Afghanistan aimed at making the war-torn nation a major logistics point for regional exports, including oil from Russia to South Asia, the country's commerce minister said…
Yinson Production has closed the limited recourse term loan facility of up to $1.3 billion for the pre and post-delivery financing of the Agogo FPSO, whish is set for deployment on Azule Energy’s development offshore Angola.The financing is provided by a consortium of 13 lenders…
Malaysia-based offshore services firm Sapura Energy, through its wholly-owned subsidiary Sapura Subsea Services, has secured a contract to provide subsea services for Thai oil company PTTEP’s subsidiaries in Malaysia.The contract, effective from February 21…
Philippine petroleum company PXP Energy Corp will take part in a government auction of energy reserves in the country's western and southern waters that are not claimed by China, its chairman said on Monday.PXP Energy holds the rights to explore Reed Bank in the South China Sea…
BP, as the operator of the Azeri-Chirag-Deepwater Gunashli (ACG) field development in the Caspian Sea, has kicked off planned maintenance (turnaround - TAR) works on the Deepwater Gunashli platform.In accordance with the plan, production from…
At a high-level, there are three solutions to transferring technicians from shore bases to offshore wind farms for construction and O&M activities: crew transfer vessel (CTV), helicopter, and SOVs/CSOVs.SOVs and CSOVs generally house 60-120 technicians offshore for a few weeks at a time…
In recent years, the oil and gas industry has faced mounting pressure to address its environmental impact. This has led many companies to set decarbonization targets – we are tracking more than 460 targets set by independents, majors, and NOCs across the sector…
Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side…
Russia remained China's top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments.China's imports from Russia, including supplies via pipelines and sea-borne shipments, jumped 12.5% on the year to 10…
TotalEnergies has signed an agreement with Sapura Upstream Assets to acquire its 50% interest in Malaysian independent gas producer and operator SapuraOMV for a consideration of $530 million, subject to closing adjustments.This agreement follows a first agreement signed with OMV on January 31…
The fuel savings gained by installing energy storage systems on oil and gas platforms are significant, but it’s the safe-ty benefits that might overcome what has been a relatively slow uptake of late.Industry lore has it that drilling rigs say…
Prime Energy has informed that the Malampaya offshore gas field in the Philippines was able to deliver more than its export capacity as the grid of the country’s Luzon island was placed on red and yellow alerts.Prime Energy, operator of the Malampaya project…
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