OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%…
FPSO-leasing company BW Offshore has been unable to remove the Umuroa FPSO from the Tui field in New Zealand following the contract termination, client liquidation, and the country's court and environment regulator intervention.The company was…
Saudi Arabia's energy minister said on Friday that a final OPEC+ oil supply pact to reduce 10 million barrels per day (bpd), which was agreed on Thursday, hinges on Mexico joining in the cuts.OPEC, Russia and other allies, a group known as OPEC+…
China's energy giant Sinopec has started building storage tanks in the second phase of its Tianjin terminal project to receive liquefied natural gas (LNG), the company said in a statement.The plan for the second phase is to have five LNG tanks…
Singapore-based FPSO module specialist Dyna-Mac and China's offshore equipment and vessel builder China Merchants Heavy Industry Holdings (CMHIH) have entered into a joint venture deal.Under the agreement, the two companies will create the DM-CMHI Heavy Industry company in China…
Eastern Mediterranean-focused gas group Energean said on Thursday a report showed its Karish North field contained around a third more gas and oil than it had previously thought.The Karish North field, according to an expert report typically used in the industry…
Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus pandemic.Thursday's videoconference…
Indonesia's state oil and gas company PT Pertamina has bought a cargo of Australian North West Shelf (NWS) condensate at a deep discount of $8 a barrel to dated Brent on a cost-and-freight (CFR) basis, three trade sources told Reuters on Wednesday…
Southeast Asia-focused oil and gas companyKrisEnergy Ltd. an upstream oil and gas company, has sold its 30.0% interest in the Andaman II block offshore Indonesia to BP.KrisEnergy said that the previously proposed disposal of the block in the Malacca Strait was completed on Wednesday…
China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a statement on Wednesday.CNOOC Ltd…
Daily gas production at Iran's South Pars field reached more than 700 million cubic meters (mcm) per day in the last Iranian calendar year, the head of the Pars Oil and Gas Company (POGC) said on Sunday, according to the official IRNA news agency…
Chinese independent refiners have snapped up rare crude grades from the North Sea and Guyana at low prices in an oversupplied market after the coronavirus pandemic destroyed demand, four sources with knowledge of the matter said on Tuesday.The North Sea grades bought included Balder…
Tankers carrying U.S. liquefied natural gas (LNG) are on their way to China after Beijing started granting tax waivers to some importers, according to shipping and trade sources.This is the first time since March 2019 that shipments have resumed…
Royal Dutch Shell said on Tuesday its Australian unit and joint venture partners had decided to delay a final investment decision (FID) on the Crux gas project in offshore Australia that was initially planned for 2020.The Crux project is one…
French oil firm Total has said it has sold assets in Brunei, Liberia, and Sierra Leone for more than $400 million, as part of its plan to divest $5B worth of assets in 2019-2020 period.The divestments announced Tuesday include non-core assets…
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