The Organization of the Petroleum Exporting Countries was set up in 1960 to coordinate oil production policy among its members but in recent decades it has increasingly cooperated with producers outside the group to manage the market. This month…
Australian oil and gas operator Santos is planning to carry out an offshore survey in preparation for the proposed Yoorn-1 drilling in the offshore block WA-499-P, in W. Australia.According to an application filed this week, as part of the drilling preparatory work…
Mubadala Petroleum has increased its ownership share in the G1/48 block containing the Manora oil field in the Gulf of Thailand.The company has, via its subsidiary MP G1, taken a 10 percent interest in the offshore block from Northern Gulf Petroleum…
Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.A worker…
Australia's oil and gas company Santos will sell a 25% interest in Darwin LNG and Bayu Undan gas condensate offshore field to SK E&S for US$390 million with effect from October 1, 2019 with customary adjustments on completion.Santos also said…
Oil and gas company Cooper Energy focused on southeast Australia, has said that its Sole gas project has passed a critical milestone.The company said the milestone was achieved with the first flow of gas from the Sole gas field in the Gippsland…
AllSurplus, an online auction marketplace owned by Liquidity Services, is currently marketing two offshore production units from Petronas in a private treaty sale.The company said Tuesday that the two assets are 30,000 BFPD Self-Elevating Mobile…
Triangle Energy has restarted production at the Cliff Head Alpha Platform offshore Western Australia, following a halt caused by an electrical fault in February.'Production resumed on 10 March 2020 and following a thorough testing and inspection program over the last 24 hours…
Oil prices fell on Wednesday, giving up earlier gains, after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day. Brent crude slid $0.41, or 1.1%, to $36.81 a barrel by 0740 GMT…
Kazakhstan has reduced natural gas supplies to China by 20-25%, Energy Minister Nurlan Nogayev said on Wednesday, after importer PetroChina issued a force majeure notice to suppliers this month.PetroChina has suspended some natural gas imports…
Norway's offshore installation company Ocean Installer has won a deal to deliver and install a subsea power cable in China, as part of CNOOC Liuhua 16-2 oil field development in the South China Sea.In what is the company's second contract in China…
ABB will equip Japan-built self-elevating wind turbine installation vessel with its power and control technologies.The company said Tuesday that the 28,000-GT jack-up unit on order from builder Japan Marine United Corp, and due for delivery to Shimizu Corp…
China National Offshore Oil and Gas Corp (CNOOC) is set to inject its struggling natural gas terminal and power unit into its flagship listed vehicle CNOOC Ltd, three senior sources with knowledge of the matter said. The plan for the internal merger…
Oil and gas companies might be heading for another round of 'brutal' cost cuts in the wake of the oil price crash caused by coronavirus outbreak and Saudi-Russia stand-off on output cuts.Wood Mackenzie’s Tom Ellacott said: “The price collapse…
Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday. The downward revision came as oil prices dropped…
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