Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday. The downward revision came as oil prices dropped…
Norwegian ship owner Solstad Offshore said it has secured work for its 2006-built anchor handling tug supply vessel (AHTS) Far Stream supporting a six-well drilling program for a major Malaysian operator.The 285-day contract is due to commence…
Malaysian oil and gas services provider Global Mariner Offshore has launched legal action against TH Heavy Engineering, Floatech, Yinson, and several other parties, seeking RM74,800,000 plus interest in damages.Global Mariner is a 20 percent owner of Floatech…
Brent slid to its biggest daily loss in more than 11 years on Friday after Russia balked at OPEC's proposed steep production cuts to stabilize prices hit by the economic fallout from the coronavirus, and OPEC responded by removing limits on its own production…
Sales of petroleum products are slumping in Japan as the coronavirus outbreak worsens in the world's fourth-biggest importer of crude, but the country's biggest refiners say they are not planning to cut production.Oil product sales, including gasoline and jet fuel…
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…
Malaysian energy services firm Uzma has a contract with Shell for plugging and abandonment work offshore Malaysia.Under the letter of award signed with Shell's subsidiaries in Malaysia, Uzma will provide platform wells plug and abandonment campaign…
Malaysian offshore vessel owner Nam Cheong has secured contracts for six offshore vessels, raising its orderbook to RM318.2 million ($75.6 million).The company said Tuesday it had clinched chartering contracts for six OSVs with foreign oil majors worth RM116…
Offshore installation contractor Subsea 7 on Tuesday said it had won a contract from Murphy Oil for the provision of the subsea installation services related to the Samurai, Khaleesi, and Mormont developments in the U.S. Gulf of Mexico.The contract…
Malaysian FPSO leasing company Yinson has informed that its FPSO Abigail-Joseph has set sail from Singapore to Nigeria, where it will be deployed at First E&P offshore oil fields.The FPSO, previously named Allan, has recently been upgraded by Keppel in Singapore…
Shell has chosen Maersk Convincer as Jack-up Rig of the Year 2019, recognizing the rig’s successful operation offshore Brunei, Maersk Drilling, the owner of the rig said Friday.Maersk Convincer arrived in Brunei In September 2017 to continue operations for Brunei Shell Petroleum…
Oil prices fell over 2% on Thursday, plunging for a fifth day to their lowest since January 2019 as a rise in new coronavirus cases outside China fuelled fears of a pandemic that could slow the global economy and dent demand for crude.Brent crude was down $1…
Malaysian FPSO leasing company Bumi Armada will appeal a recent court decision in which it lost a case against Woodside concerning an FPSO contract termination from 2016.Woodside terminated the contract in 2016 for the FPSO, which was at the time operating at the Balnaves Field…
Singapore's offshore facilities builder Keppel has said it has delivered 'the world’s fastest brownfield Floating Production Storage and Offloading vessel (FPSO) modification and upgrading project.'Named FPSO Abigail-Joseph, the vessel was delivered to Malaysia's Yinson Holdings…
Malaysian state oil firm Petronas said on Wednesday its fourth-quarter profit slumped 71%, hurt by impairment costs and lower prices of major products.Petronas said profit after tax for the October-December period fell to 4.1 billion ringgit ($968…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
