Swedish company Alfa Laval has said it has won two large orders in the offshore industry space from clients in China and Singapore.Under the orders, of a combined value of around SEK 170 million (USD 17 million), Alfa Laval will deliver Framo…
South Korea's Samsung Heavy Industries has signed a contract worth $209.2 million (KRW 253.6 billion) with a Bermudan ship owner to build two LNG-fueled VLCCs, which will be delivered by April 2022.The Very Large Crude Carriers will be equipped with S-Fugas…
Shell's Malaysian subsidiary Sabah Shell Petroleum Company has been awarded more than $340 million in an arbitration related to the Gumusut Kakap floating production platform offshore Malaysia.Back in late 2012, Shell signed a contract for construction and lease of the Gumusut Kakap FPS with GKL…
Saudi Arabia's state oil giant Aramco has set the May price for its Arab light crude oil to Asia at a discount of $7.3 to the Oman/Dubai average, down $4.2 a barrel from April, according to a document seen by Reuters on Monday.It has cut the…
Singapore is preparing to house hundreds of foreign workers in accommodation vessels typically used for offshore and marine industry staff as it races to find alternatives to dormitories where the novel coronavirus has been spreading rapidly…
Singapore-based FPSO module specialist Dyna-Mac and China's offshore equipment and vessel builder China Merchants Heavy Industry Holdings (CMHIH) have entered into a joint venture deal.Under the agreement, the two companies will create the DM-CMHI Heavy Industry company in China…
Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus pandemic.Thursday's videoconference…
Indonesia's state oil and gas company PT Pertamina has bought a cargo of Australian North West Shelf (NWS) condensate at a deep discount of $8 a barrel to dated Brent on a cost-and-freight (CFR) basis, three trade sources told Reuters on Wednesday…
Southeast Asia-focused oil and gas companyKrisEnergy Ltd. an upstream oil and gas company, has sold its 30.0% interest in the Andaman II block offshore Indonesia to BP.KrisEnergy said that the previously proposed disposal of the block in the Malacca Strait was completed on Wednesday…
China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a statement on Wednesday.CNOOC Ltd…
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…
Tankers carrying U.S. liquefied natural gas (LNG) are on their way to China after Beijing started granting tax waivers to some importers, according to shipping and trade sources.This is the first time since March 2019 that shipments have resumed…
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…
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…
Oil prices slipped on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets as the coronavirus pandemic pummels demand.Brent crude slipped close to $30 a barrel in early trade and was at $33…
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