Danish offshore drilling firm Maersk Drilling has secured a drilling contract for its Maersk Viking drillship with Shell in Brunei.Brunei Shell Petroleum Company will use the 227 meters long 7th generation drilling rig to drill one deepwater exploration well offshore Brunei Darussalam…
Coronavirus vaccines are expected to boost international passenger transportation and oil consumption, but the first significant impact will not be felt until well into the second half of 2021, based on futures price movements on Monday.Brent…
Dutch offshore installation firm Heerema Marine Contractors has said that its heavy lift vessel Aegir has completed the installation of North Oil Company’s Al-Shaheen Gallaf 1 Project.Heerema was contracted for the transportation and installation…
Offshore engineering and construction firm McDermott has won a contract to provide front end engineering and design (FEED) services for the INPEX-operated Ichthys Liquified Natural Gas Field Development, off Australia.The contract is for a booster compression module FEED with optional engineering…
Singapore-based oil and gas module building firm Dyna-Mac has won new contract worth S$157.50 million ($116,9 million) but has also said it has lost a contract for work on an offshore vessel, which was awarded in April 2020.Dyna-Mac said Tuesday…
Malaysian state-owned energy giant Petronas is expected to pay the resource-rich state of Sabah 1.25 billion ringgit ($303 million) in sales tax next year, state media said.Sabah Deputy Chief Minister Jeffrey Kitingan said Prime Minister Muhyiddin…
Australian oil and gas company Santos has executed documentation to enter into a new US$750 million syndicated bank loan, to refinance existing debt facility established for the acquisition of ConocoPhillips’ northern Australian and Timor-Leste assets…
Australian oil and gas company Santos gas signed a new gas sales agreement to supply natural gas to Western Australian energy solutions provider, Kleenheat.Kleenheat is part of Wesfarmers Chemical, Energy and Fertilisers (WesCEF), a group of businesses that will also utilize the gas…
BP has started drilling at the Ironbark-1 exploration well in the WA-359-P in the Carnarvon Basin, offshore Western Australia.According to Cue Energy, a partner in the project, the drilling started at 07:30hrs (AWST) on 31 October 2020. BP is…
Oil and gas companies worldwide are taking an axe to their employment rolls, shedding workers to survive what is expected to be a prolonged stretch of weak demand.Exxon Mobil Corp said it will cut its workforce by 15%, or about 14,000 people…
Total trimmed its 2020 investment target on Friday after a sharp drop in third-quarter net profit, though the French oil and gas producer maintained its dividend.The company cut its investment target to $13 billion from $14 billion and said it was keeping a lid on operating costs too…
Chevron on Friday reported an adjusted third-quarter profit as oil prices recovered from spring lows and spending cuts benefited operating results.Chevron and its peers have slashed spending budgets this year on plummeting demand and crude oil…
Tasked to provide the financial power to help Norwegian companies export their wares to the world, Wenche Nistad, CEO of the Norwegian Export Credit Guarantee Agency (GIEK) pulls no punches when asked about the appetite for investment in traditional…
The COVID-19 crisis has created an unprecedented challenge to the offshore sector, one that is truly global in impact but with a shifting picture in different regions, from recovery in some to the threat of a second wave in others. According to Bureau Veritas’ Dawn Robertson…
Oil producer ConocoPhillips, which is buying Concho Resources Inc for $8.3 billion, posted a smaller-than-expected quarterly loss on Thursday as it benefited from a recovery in crude oil prices from pandemic-driven lows.Oil prices began recovering…
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