The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook.The Paris-based IEA raised its forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month…
NOPSEMA, the Australian offshore oil and gas safety regulator, plans to resume physical inspections on offshore oil and gas facilities 'in line with appropriate protocols to manage health risks associated with COVID-19.''While NOPSEMA’s inspections have continued throughout the pandemic…
UK-based engineering and construction services firm Petrofac has won secured an Engineering, Procurement, Construction, Pre-commissioning and Commissioning (EPCC) contract in Kazakhstan.The contract is worth about US$135 million for new water…
After the long, slow downturn that began in late 2014, this year was set to be better with many dormant regions resuming exploration and long-awaited development drilling programs going ahead. Then in mid-March, a double disaster struck as an oil price crash coincided with a global pandemic…
Vietnam's state oil firm PetroVietnam is seeking to venture into renewable energy sources like wind farms and floating solar panels, as domestic crude oil production has peaked at most of its offshore oil fields.The company, formally known as Vietnam Oil and Gas Group…
Top Chinese energy firms have mandated investment banks Morgan Stanley and Goldman Sachs to act as advisors for multi-billion dollar deals transferring key oil and gas pipeline assets into a national energy infrastructure giant, four sources said…
As much as 40% of maintenance work carried out by FPSO vessel operators is unnecessary, the energy industry consultancy Lloyd’s Register (LR) has found.Lloyd’s Register (LR), found that by reducing these unwarranted manhours, operators could save on average almost £600…
World's largest offshore wind farm developer Ørsted has signed what it says is the world’s largest renewables corporate power purchase agreement with Taiwan-based TSMC.Under the agreement, TSMC, the world’s largest semiconductor foundry, will…
Classification and consultancy company ABS has provided a remote survey for steel certification at a steel mill, enabling Lamprell to continue work on jack-up drilling rigs, despite COVID-19 restrictions.Lamprell ordered 8855 MT of steel for…
Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound implications for the business strategies of oil-producing companies and countries.Slower growth will intensify…
The U.S.-based offshore support vessel company Seacor Marine has completed the acquisition of the remaining 50 percent stake in Seacosco from affiliates of China's Cosco Shipping Group.Seacor Marine will consolidate the operating results of…
French major Total has been named the upstream industry’s most-admired explorer, an accolade awarded in conjunction with Wood Mackenzie’s annual Exploration Survey. Dr. Andrew Latham, Vice President, Global Exploration Research, at Wood Mackenzie…
Japan's industry ministry said on Friday it has identified 10 areas as potentially suitable for development of offshore wind farms, four of which were designated 'promising areas', as it started a second round of the process to select operators…
The global active offshore drilling rig count for June 2020 was lower by 65 units, compared to June 2019, Baker Hughes' monthly rig count report has shown.Latin America was the only region that saw its offshore rig count rise, Europe and North America saw their numbers halved…
Dutch industrial equipment provider Huisman will deliver cranes for the first Taiwan-built offshore installation vessel.The vessel - to be named Green Jade - will be owned by CDWE, a joint venture company between Taiwanese company CSBC and Belgian offshore contractor DEME…
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