Oilfield services sector is set to reach the lowest total workforce count in over 10 years, as a consequence of the COVID-19 pandemic, low oil prices, and cuts in spending by the oil companies.'The oil market turmoil brought on by Covid-19 has…
Oil slid more than 3% towards $40 a barrel on Tuesday, its 5th session of decline, pressured by concerns that a recovery in demand could weaken as coronavirus infections flare up around the world.Coronavirus cases rose in 22 of the 50 U.S. states…
The slowdown of the world economy and plummeting energy consumption have eclipsed most other industry news. Oil exporting countries are coming to terms with limiting production to sustain reasonable prices, and operators are looking for ways to improve efficiency…
China's CNOOC said Thursday that Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project had started production.The Penglai 19-3/19-9 oilfields are located in Bohai Bay with an average water depth of approximately 28 meters…
The Philippine unit of Royal Dutch Shell said on Tuesday it will permanently shut one of the country's two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow, according to analysts.Pilipinas Shell Petroleum Corp said its 110…
Classification and consultancy company ABS has provided a remote survey for steel certification at a steel mill, enabling Lamprell to continue work on jack-up drilling rigs, despite COVID-19 restrictions.Lamprell ordered 8855 MT of steel for…
Malaysian state-owned energy giant Petroliam Nasional Berhad said on Friday it would reshape its portfolio after reporting its first quarterly loss in nearly five years following a coronavirus-related demand slump and lower oil prices.Petronas…
Asia Pacific Drilling Technology Conference and Exhibition (APDT) originally scheduled for September 1-2 2020 in Yangon, Myanmar has been postponed for next year due to the COVID-19 pandemic.'Due to the ongoing global public health concerns related to COVID-19…
Norwegian energy intelligence company Rystad expects that the market demand for large-diameter offshore pipelines, known as trunklines, will see an annual drop of 26% this year.According to Rystad, the length of total installations this year is forecasted to reach 2…
Israel's Delek Drilling said on Wednesday it will pay an average interest of 6.28% in a $2.25 billion international bond offering to help it finance the development of the Leviathan natural gas project off Israel's Mediterranean coast.Following a roadshow…
Thai subsea services company Mermaid Maritime has decided to sell its stake in Asia Offshore Drilling, a drilling joint venture with Seadrill, to limit its exposure to the volatile offshore drilling market.Mermaid, which owns a 33.76% in AOD…
Bursa Malaysia-listed oil and gas company Hibiscus Petroleum is looking to expand its asset portfolio through acquisitions of assets with strong production potential.Hibiscus, which owns offshore oil fields in Malaysia, Australia, and the UK North Sea…
Oil Search Ltd aims to start producing oil in Alaska in 2025 and expand Papua New Guinea (PNG) gas exports from 2027, after slashing costs to weather weaker oil prices in the wake of the coronavirus outbreak, its chief executive said on Tuesday…
Indonesia's oil and gas lifting in the first half of this year was lower than targeted as the coronavirus pandemic continued to dampen demand, the chairman of regulator SKK Migas said Friday.Oil lifting in January to June stood at 713,300 barrels per day (bpd) while gas lifting stood at 5…
'We are doing something amazing in Baker Hughes,” said Alex Seinuah, the leader of Baker Hughes’ Growth Initiatives Hub. “I call the hub a start-up business. Within the hub we look at disruptive technologies and services that we believe will deliver value to our customers…
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