Singapore oil trader Hin Leong held a call with banks on Tuesday after they failed to provide a letter of credit to the firm to purchase at least one cargo of oil products due to load this month, four sources said.The coronavirus pandemic has…
Qatar Petroleum has kicked off the development drilling campaign for the offshore North Field East project, or NFE previously known as the North Field Expansion Project.The first of 80 North Field East development wells was spudded on March 29…
Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the…
The Mediterranean-focused oil and gas company Energean has said that the hull of its Energean Power FPSO has reached Singapore.The China-built hull is expected to be fitted with the topside modules built in Singapore at the Sembcorp Yard, before setting sail to the Karish offshore field in Israel…
Indian oil and gas company ONGC plans to extend the contract for the Armada Sterling FPSO, owned by a joint venture between Bumi Armada and Shapoorji Pallonji Oil and Gas Private Limited.Bumi Armada said Wednesday that its JV company had recently received notification from ONGC…
International Energy Agency (IEA) Executive Director Fatih Birol said on Wednesday this month could prove the worst ever experienced by the oil industry.'In a few years' time, when we look back on 2020 we may well see that it was the worst year in the history of global oil markets…
Oil fell 5% to around $28 a barrel on Wednesday, pressured by reports suggesting persistent oversupply and collapsing demand due to global coronavirus-related lockdowns.The International Energy Agency (IEA) on Wednesday forecast a 29 million…
Austrian oil and gas company OMV has de-manned its offshore platforms in the Taranaki Basin in New Zealand to only essential crews due to the COVID-19 pandemic.Responding to request for comment by Offshore Engineer on how it is dealing with the COVID-19 situation…
Singapore-based offshore rig builder Keppel Offshore & Marine has partnered up with Energy Market Authority (EMA) to develop energy solutions in the areas of distributed energy resources, digitalization and emerging low carbon alternatives.As part of the $10 million partnership…
Following a report earlier this week that Singapore would temporarily house foreign workers on offshore flotels due to the COVID-19 crisis, the first group of workers has boarded one of the units.'As part of Singapore's efforts to contain the spread of COVID-19…
Austrian energy firm OMV has said it has struck oil and gas in the Taranaki Basin offshore New Zealand. OMV, as the operator of the Petroleum Exploration Permit (PEP) 60093, started drilling at the Toutoiwai-1 well in early March 2020.The oil…
Singapore-listed Dyna-Mac has won an order to build two upper hull sections of an offshore vessel.Dyna-Mac said Tuesday that the order, from an unnamed repeat client, was valued at S$6.3 million.Under the terms of the contract, Dyna-Mac’s scope of work includes structural fabrication and erection…
Several crewmembers aboard Saipem's offshore vessel FDS in a port in the Netherlands have been placed in isolation after a confirmed COVID-19 case aboard.As reported by Saipem last Friday, one crewmember on the pipelayer was disembarked and transferred to isolation after he was confirmed positive…
Jack-up drilling contractor Borr Drilling has received early contract terminations for five offshore drilling rigs, and has warned that more terminations might be forthcoming. On the bright side, the company has been awarded letters of award for two premium jack-ups…
GCL Oil& Natural Gas Co Ltd has entered a framework agreement with Royal Dutch Shell to explore setting up a joint venture based in eastern China to market and trade liquefied natural gas (LNG), the privately-owned Chinese company said on Tuesday…
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