Italian oilfield services firm Saipem has signed a memorandum of understanding with the Saudi construction company Abdel Hadi Abdullah Al Qahtani & Sons Company (AHQ). Saipem said Tuesday that the memorandum set the path to towards the creation of a Joint Venture in Saudi Arabia…
Lebanon's much-delayed search for offshore oil and gas is set to begin on Thursday with the results from its first exploratory well expected in the next two months, the chairman of the Lebanese Petroleum Administration (LPA) said on Wednesday…
Singapore's offshore facilities builder Keppel has said it has delivered 'the world’s fastest brownfield Floating Production Storage and Offloading vessel (FPSO) modification and upgrading project.'Named FPSO Abigail-Joseph, the vessel was delivered to Malaysia's Yinson Holdings…
Malaysian state oil firm Petronas said on Wednesday its fourth-quarter profit slumped 71%, hurt by impairment costs and lower prices of major products.Petronas said profit after tax for the October-December period fell to 4.1 billion ringgit ($968…
The Chinese oil company CNOOC has, via its European subsidiary, extended a contract for logistics management with ASCO. Under the five-year extension worth over 100 million pounds, ASCO will continue supporting CNOOC Petroleum Europe Limited's North Sea assets…
Australia's Santos Ltd has sold a 175,000-barrel cargo of Van Gogh crude loading March 29-April 2 to trading house Vitol at a premium of $15-$16 a barrel to dated Brent, well below the last traded level, three sources familiar with the deal said on Thursday…
Australian companies Woodside and BHP have agreed to align their participating interests across the WA-1-R (Scarborough) and WA-62-R (North Scarborough) titles containing the undeveloped Scarborough gas field.The alignment will result in Woodside holding a 73…
Singapore-based oil and gas fabrication company Dyna-Mac has secured an in-principle from undisclosed clients to build FPSO topside modules.Dyna-Mac said Tuesday the fabrication contracts (in-principle) were awarded from both its repeat customer…
Oilfield services giant Schlumberger has announced the opening of a manufacturing center in King Salman Energy Park (SPARK) in Saudi Arabia.The company said that center will manufacture well completions technologies including liner hangers and…
Waterjet propulsion systems manufacturer Marine Jet Power (MJP) said it has appointed Firstbreak Ltd as an official sales and service agent, based in Christchurch, New Zealand.Under the terms of the new agreement, Firstbreak Ltd will offer MJP customers in-region support…
China has ramped up fuel exports to compensate for losses to domestic demand as it grapples with the coronavirus outbreak, having not been able to prevent a surplus in the world's second-largest oil consumer with cutbacks in its refining output…
Saudi Arabia's energy minister said on Tuesday he was confident that OPEC and its partner oil-producing nations, the so-called OPEC+ group, would respond responsibly to the spread of the coronavirus. He also said Saudi Arabia and Russia would continue to engage regarding oil policy…
Norwegian company Equinor has become the third major fossil fuel producer to abandon plans to drill for oil in the Great Australian Bight, after years of work. Previously, BP and Chevron canceled their drilling plans in the area, in 2016, and 2017 respectively…
Australian oil and gas company Triangle Energy has shut production from its shallow-water Cliff Head Alpha oil platform citing an electrical fault.Triangle Energy said Monday production at the platform located approximately 14 kilometers offshore in the Perth Basin…
Indonesia's oil and gas output is expected to contract for a fourth consecutive year in 2020, as aging fields and delays to new projects keep production levels below government targets, analysts said.The output decline comes as Jakarta proposes…
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