Saudi Arabia's sweltering summer may complicate the kingdom's pledge to deepen oil production cuts.Curbing crude output means lower production of associated gas, a byproduct of crude extraction, which Saudi Arabia uses to power air conditioners…
SBM Offshore, the Netherlands-based FPSO supplier, has shared a video of its Liza Unity FPSO Hull going into the dry dock in Singapore.The hull was ordered on speculation in 2017 as the first of what are now five hulls being built as part of SBM Offshore's Fast4Ward standardized-FPSO-hull program…
Italian oil and gas company Eni has suspended works carried out by the SSV Catarina semi-submersible drilling rig offshore Indonesia.This was revealed by Singapore-based KS Energy, which last year won the contract with Eni, as part of a joint venture with Universal Energy Resources…
Petrofac Ltd on Friday warned of delays in new projects until 2021 due to coronavirus-induced supply chain disruptions and travel restrictions as well as lower oil prices and said it was taking steps to conserve cash.The crash in oil prices…
Offshore accommodation company Prosafe has seen its fleet utilization rate drop to 32 percent in the first quarter of 2020 - down from 62.5% a year ago - and based on its clients' recent actions caused by low oil prices and the coronavirus pandemic…
SBM Offshore, one of the world's largest FPSO solutions providers, on Wednesday slightly reduced 2020 guidance due to uncertainty caused by the COVID-19 pandemic and the low oil price environment, but the CEO is optimistic the company will not just weather the storm…
Oil demand is still set for a record fall in 2020, the International Energy Agency (IEA) said on Thursday, but it trimmed its forecast for the drop citing easing lockdown measures.Demand is expected to fall by 8.6 million barrels per day (bpd)…
Offshore drilling firm Seadrill Partners has said it has received a notice of termination for the 2008-built West Polaris drillship contract.'As a result, the contract is expected to conclude in early November 2020, and the backlog is expected to decrease by approximately $23 million…
Australian oil and gas company Santos, with its partner Carnarvon, is progressing works on the development of the Dorado oil field off W. Australia, with pre-FEED contracts for the FPSO awarded to three 'world-class' contractors. The final investment decision date however…
Prices for spot liquefied natural gas (LNG) cargoes imported into Japan, the world's biggest buyer of the fuel, fell in April to their lowest since the country's trade ministry started compiling data in 2014. The latest low for LNG cargoes into…
Mubadala Petroleum and its partner Tap Oil have approved the 2020 Manora field development drilling program, with the first well set for spud this week.Tap Oil said Thursday that the three-well drilling campaign at the Gulf of Thailand would…
International Energy Agency (IEA) Executive Director Fatih Birol said on Thursday that recently announced oil output cuts by major Gulf Arab producers would likely not be enough to balance global markets as coronavirus lockdowns hollow out demand…
The Russian government has extended a contract for Igor Sechin, a close ally of President Vladimir Putin, to stay as the chief executive officer of giant oil producer Rosneft for five more years, Vedomosti daily reported on Wednesday.The daily…
Oslo-listed offshore drilling contractor Awilco Drilling did not generate revenue during the first quarter of 2020, and it on Wednesday reported a net loss of $9,4 million. However, the company is optimistic about the future, that is, when its high-end rigs…
U.S. engineering and construction giant KBR has been awarded a contract for Carbon Capture and Sequestration works at JX Nippon's offshore oil and gas fields in South East Asia.Under a Master Service Agreement (MSA) and Feasibility Study awarded to KBR by Japan-based oil and gas company JX Nippon…
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