UK oilfield services provider Petrofac has confirmed it is planning staff reductions and furloughing as part of its action to save cash in response to low oil prices and COVID-19 pandemic.Reuters last week reported that Petrofac was planning to reduce the workforce by 20%…
Jack-up drilling rig contractor Shelf Drilling has been slapped with another early rig contract termination, its third in the past month.Shelf Drilling on Monday said that it had entered into a mutual agreement with the client 'to amend the…
Lebanon has postponed the deadline for submissions of applications for its second offshore licensing round once again.Lebanon had in January postponed the deadline from January 31 to April 30 to allow international firms more time to pursue administrative…
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…
PetroVietnam's net profit in the first quarter of this year likely fell 50.8% from a year earlier to 4.44 trillion dong ($188.5 million) due to low oil prices and weak demand due to the new coronavirus, Vietnam's state oil firm said on Sunday…
Malaysia's state energy giant Petronas, struggling with weak prices and falling demand, said on Friday its own funding needs and debt obligations would dictate any special dividend to the government amid the coronavirus crisis.The government…
OPEC and allies are working on a deal for an unprecedented production cut equivalent to around 10% of global supply, an OPEC source said after U.S. President Donald Trump called on oil nations to stop the oil rout caused by the coronavirus pandemic…
Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47%…
Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020.The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…
Australian offshore oil and gas safety regulator NOPSEMA has approved Woodside's offshore project proposal (OPP) from for the development of the Scarborough gas fields off northern Western Australia.The OPP is the primary Commonwealth environmental…
China National Offshore Oil Corp (CNOOC) has signed an agreement with newly launched PipeChina on transferring management rights for oil and gas infrastructure projects, the company said in a statement on Wednesday.The statement did not give details on what projects have been handed over…
Malaysia's offshore vessel provider Alam Maritim has won a new work order from Petronas for the supply of an anchor handling tug supply vessel.While Alam announced the contract award on Thursday, the charter started on February 11, 2020.Alam…
Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development 'within a month or two.' The wait is now set to be prolonged 'indefinitely.'Namely…
China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in March applications from its companies to waive import tariffs on U…
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…
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
