Russian oil company Lukoil is still working to obtain a share in the offshore block in Senegal containing the Sangomar development, after its first attempt last year to buy Cairn's share in the project was blocked out by Woodside, which exercised its pre-emption rights as a partner in the block.Namely, FAR, an Australian company that has been working to sell its stake in the $4.2 billion Sangomar project as well…
OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic.The…
Australia's Woodside Petroleum sees the military coup in Myanmar as 'a transitionary issue' that would not affect its drilling in waters off the Southeast Asian nation, its chief executive said.His comments came as Australia, India, Japan, and…
Wind turbine maker Vestas - which last week announced it would build the world's largest offshore wind turbine - said Monday it had appointed Purvin Patel as Regional President of Asia Pacific, to strengthen its presence and market position in strategic and fast-growing markets in the region…
COVID-19 will continue to skew the floating production systems market for the coming 24 months, while buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account…
Floating Production Storage and Offloading (FPSO) vessels are essential tools in the search for oil in deeper waters, further from shore-based facilities. Typically, the large FPSO is stationary with a number of wells feeding oil into its holds…
State-owned oil companies could squander about $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, a non-governmental organization said on Tuesday…
Offshore drilling contractor Vantage Drilling said Wednesday it had received a letter of award with the Indian oil company ONGC for the charter of its ultra-deepwater drillship Platinum Explorer.The rig contract is for two years and will begin once the current three-year contract with ONGC expires…
The Indian government may give Cairn Energy a surrendered oil field such as the Ratna R-Series [offshore the west coast] in lieu of an arbitration award against the South Asian country, according to a Press Trust of India report in financial daily Mint…
Australian oil and gas company FAR has executed the sale agreement with Woodside for its interest in the Senegal RSSD Project to Australia's Woodside.FAR had agreed to sell its Senegal interests, containing the Sangomar development, to India's ONGC Videsh in November 2020…
Freezing temperatures across Asia and Europe are driving liquefied natural gas (LNG) prices to record highs and pushing up the cost of shipping the fuel globally as buyers grapple with tight inventories and a shortage of tankers.Demand for super…
Offshore oil and gas services company McDermott recently completed work on an offshore field development project in India, operated by Reliance Industries, and made it ready for start-up.The project, in the Krishna Godavari Basin, located off the east coast of India…
Indian Oil Corp (IOC) , the country's top refiner, has loaded its first cargo of Iraq's newly introduced Basra Medium crude grade, according to ship-tracking data from Refinitiv Eikon and a source with knowledge of the matter.IOC loaded the cargo onto Minerva Kalypso…
Cairn Energy said on Wednesday it had won an international arbitration case against the Indian government over a tax dispute that had spooked investors concerned about retrospective tax claims on companies.The tribunal ruled unanimously that India had breached its obligations to Cairn under the U…
Offshore seismic data acquisition services company Shearwater GeoServices has secured a 3D broadband marine seismic acquisition contract by ONGC in the Western Offshore India area. The project is scheduled to start in Q1 2021.The four-month campaign covers two areas totaling around 2…
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