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Santos Gets OK for Dorado Block Survey

May 13, 2020

Australia's offshore oil and gas safety body NOPSEMA has approved oil company Santos' plan to carry out a geotechnical and geophysical survey within Permit WA-437-P offshore W. Australia, containing the large oil discovery Dorado.Santos is planning…

OMV Sees Hope for Oil Price Recovery in Second Half 2020

May 13, 2020

Austrian energy group OMV sees hope for a recovery in oil prices in the second half of 2020 helped by increased fuel demand and output cuts by producers such as Saudi Arabia, its chief executive said.The spread of the coronavirus has knocked…

Bristow, Era Elect Executive Leadership Ahead of Merger Wrap

May 13, 2020

Offshore helicopter service providers Bristow and Era have elected new executive leadership to lead the company once their proposed merger is complete, which is expected to happen next month.The companies said the executive leadership team will…

Indonesia Weighing Subsidy Options for Biodiesel Program

May 13, 2020

The Indonesian government is considering alternate plans to increase subsidies for the country's ambitious biodiesel program after crude oil prices tumbled, a finance ministry official said on Wednesday.A historic crash in oil prices this year…

Trafigura Merging China Oil Operations in New Shanghai Trading Desk

May 12, 2020

Swiss commodities merchant Trafigura plans to merge its three-year-old crude oil marketing office in Qingdao, in east China's Shandong province, with an oil desk being set up in Shanghai, according to three sources with knowledge of the matter…

Japan's Inpex Reduces 2020 Profit Guidance by 93%

May 12, 2020

Inpex Corp, Japan's top oil and gas company, on Tuesday cut its annual net profit forecast by 93% after first-quarter earnings slumped due to an oil price collapse and as the coronavirus pandemic choked off international energy demand.The group…

Shell, Eni Lead Oil Majors' Climate Ambitions But Still Fall Short - Investors

May 12, 2020

None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday.The Transition Pathway Initiative (TPI),…

Rystad: Oil Firms May Need to Kill Old, Loss-Making FPSOs

May 12, 2020

'The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three-quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s $11…

Penspen in Engineering Services Deal Offshore Abu Dhabi

May 12, 2020

Engineering and project management firm Penspen has won an engineering services contract by Target Engineering Construction Co LLC for slug catcher replacement support on a project on Zirku Island in UAE.The Penspen contract is for work on the island’s Satah slug catcher replacement project…

Samsung Delivers LNG Carrier to GasLog

May 11, 2020

Greek shipowner GasLog has taken delivery of a newbuild liquefied natural gas (LNG) carrier from Korean shipbuilder Samsung Heavy Industries. The 180,000-cubic-meter-capacity GasLog Wales will operate on a 12-year time charter agreement with the principal LNG shipping entity of Japan’s JERA…

Saudi Arabia to Reduce Oil Production Further

May 11, 2020

Saudi Arabia will voluntarily deepen oil output cuts from June as low oil prices are causing huge pain to the kingdom's budget and global demand remains weak due to lockdowns to contain the coronavirus pandemic.The announcement by the kingdom…

Norwegian Firm Nets Anna Nery FPSO Topside Modules Job

May 11, 2020

Norwegian offshore EPC contractor Aragon has won a contract to deliver topside modules for Malaysia-based Yinson's Anna Nery FPSO that will produce oil from Petrobras' Marlim field in Brazil.The Bergen-based company, part of Singapore's SembMarine…

China Issues Second Batch Fuel Export Quotas

May 11, 2020

China has issued 28 million tonnes of refined fuel export quotas in the second allotment for this year, little changed from the first batch of 27.99 million tonnes issued last December, according to four sources with knowledge of the matter…

Sinopec's Largest Petrochemical Port Starts Operations with VLCC Arrival

May 11, 2020

China's energy and chemical giant Sinopec has said it has put China's largest petrochemical port into operation with the successful docking and unloading of the New Renown, a very large crude carrier (VLCC) from the Middle East. The tanker was welcomed at the new 300…

Guyana's Liza Phase 2 on Track for First Oil in 2022

May 08, 2020

Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. said Thursday.Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO…

Current News

Oil Drops but Still Set for Biggest Monthly Gain in Years

Oil Drops but Still Set for Biggest Monthly Gain in Years

Melbana Gets More Time for Find Beehive Drilling Partner

Melbana Gets More Time for Find Beehive Drilling Partner

Industry Group Calls for 'Key Worker' Status for Offshore Energy Workers

Industry Group Calls for 'Key Worker' Status for Offshore Energy Workers

UAE: Jack-Up Providers Team Up to Cut Costs

UAE: Jack-Up Providers Team Up to Cut Costs

Pertamina to Develop Cilacap Refinery without Saudi Aramco

Pertamina to Develop Cilacap Refinery without Saudi Aramco

Petrofac in Iraq Contract Extension

Petrofac in Iraq Contract Extension

Gastech Postponed for 2021

Gastech Postponed for 2021

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