South Korea's Samsung Heavy Industries has signed a contract worth $209.2 million (KRW 253.6 billion) with a Bermudan ship owner to build two LNG-fueled VLCCs, which will be delivered by April 2022.The Very Large Crude Carriers will be equipped with S-Fugas…
Norwegian seismic survey company Shearwater has lost two contracts in the Asia Pacific, joining the likes of Polarcus, SeaBird, EMGS which have all been hit by the recent low oil prices and COVID-19 pandemic situation.Shearwater said Tuesday…
The new coronavirus caused barely a blip in China's imports of major commodities, but this likely underscores the ways China differs from the rest of the world, rather than providing a template for the globe's recovery from the pandemic.China's crude oil imports in March…
Italian oilfield services provider Saipem has taken delivery of the DLB Norce Endeavour lay pipe barge from Solstad Offshore.As previously reported, following a charter period, Saipem in March elected to buy the vessel from Solstad.The vessel…
A Chinese ship embroiled in a standoff with Vietnamese vessels last year has returned to waters near Vietnam as the United States accused China of pushing its presence in the South China Sea while other claimants are pre-occupied with the coronavirus…
Shell's Malaysian subsidiary Sabah Shell Petroleum Company has been awarded more than $340 million in an arbitration related to the Gumusut Kakap floating production platform offshore Malaysia.Back in late 2012, Shell signed a contract for construction and lease of the Gumusut Kakap FPS with GKL…
Australian offshore oil and gas safety regulator NOPSEMA has approved oil company Santos' application for a 3D seismic marine survey in the Bedout Sub-basin in Commonwealth waters off the coast of Western Australia.At its closest point, the…
Saudi Arabia's state oil giant Aramco has set the May price for its Arab light crude oil to Asia at a discount of $7.3 to the Oman/Dubai average, down $4.2 a barrel from April, according to a document seen by Reuters on Monday.It has cut the…
Singapore is preparing to house hundreds of foreign workers in accommodation vessels typically used for offshore and marine industry staff as it races to find alternatives to dormitories where the novel coronavirus has been spreading rapidly…
Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won't be enough to head off oversupply with the coronavirus pandemic hammering demand.After four days of wrangling…
Royal IHC, a Dutch marine equipment and vessel provider, has said that extensive tests have been completed on a new seabed geotechnical drill designed for offshore wind and oil and gas markets, and the rig will now go on seatrials before hitting the market…
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…
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