Global consulting firm AlixPartners, in a new paper entitled, “Too many ships, too few rigs: why recovery is still a distant dream for the OSV sector,” warns that companies counting on a quick return to stability in the OSV sector are in for a rude awakening…
Australia-based Cooper Energy says testing of the newly installed Sole pipeline in the eastern Gippsland basin offshore Victoria, southeast Australia has revealed localized damage.'Laying of the 65 km pipeline to link the recently completed…
German energy group EnBW on Monday cut the outlook for its renewables division after low wind and water levels hurt the output at its hydroelectric power plants and wind parks.The group said adjusted core earnings (EBITDA) at its renewables unit would develop in a range of -10 to +5 percent…
Africa's second largest crude producer Angola and France's Total officially inaugurated a new deep-sea oil field worth $16 billion in the Atlantic approximately 260 kilometers from the capital Luanda.The Angolan State Minister for Economic and Social Development…
Northwester 2 in Belgium will be the world’s first offshore wind park to feature the V164-9.5 MW turbine from MHI Vestas Offshore Wind.It’s full steam ahead for Belgium’s next offshore wind park as MHI Vestas and Parkwind confirm the firm order for the supply and installation of 23 V164-9…
The exploration and production company Hess Corporation said that Aspy probe did not encounter commercial quantities of hydrocarbons.Hess Corporation announced in a press statement that drilling of the Aspy exploration well offshore Nova Scotia reached total depth of 7…
Ampelmann, the global leader in offshore access solutions, has opened its second office in the Middle East in a move to further expand its presence in the region. The office in Dubai (UAE) will be manned by Tim Mulders as Business Developer…
Turkey has completed the purchase of its second drilling ship, which will operate in the Black Sea at the north of the country, Energy Minister Fatih Donmez said on Friday.Turkey is almost completely reliant on imports to meet its energy needs…
The head of Russian oil giant Rosneft, Igor Sechin, and Saudi Aramco Chief Executive Amin Nasser held talks in Moscow on Friday on areas for cooperation, Rosneft said.Rosneft, the world's largest-listed oil producer by output, said in a brief…
A subsea power line set to link the networks of Denmark and the Netherlands reached the Dutch coast on Friday as part of plans to share excess electricity from wind farms and other sources.The 325 km (202 mile) long COBRAcable, short for Copenhagen…
Oil prices fell to multi-month lows on Friday as global supply increased and investors worried about the impact on fuel demand of lower economic growth and trade disputes.Benchmark Brent crude fell below $70 a barrel for the first time since early April…
Austria's OMV has agreed to establish a joint venture with Malaysia's Sapura Energy Bhd , paying $540 million for a 50 percent stake in its exploration assets in line with its strategy to expand in Southeast Asia.Sapura Energy will transfer $350 million of its debt into the new firm…
Rosenberg WorleyParsons has been awarded an engineering, procurement, construction and installation contract (EPCI) by Lundin Norway ASO in the Norwegian Continental Shelf.The services include planning, engineering, prefabrication, offshore installation and commissioning support…
The American Petroleum Institute (API) released its newest valve standard as part of the industry’s continuous efforts to improve operational safety and environmental protection.According to a release from the agency, the “Specification 6A”…
London-based Tailwind Energy has announced the completion of the acquisition of Houston-headquartered oil and gas firm EOG Resources's UK portfolio. The oil and gas venture announced two months ago it has agreed with EOG Resources Inc to acquire EOG’s UK business…
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