LogIn LogOut

Oil Prices News

 

Worley, BP Sign Offshore Engineering Frame Agreements

May 20, 2020

Australia-based global engineering company Worley has signed two frame agreements with oil major BP for the provision of offshore engineering services.Worley said Wednesday that one frame agreement was for conceptual engineering and the other…

SFL Buys Newbild VLCC with Long-Term Charter Secured

May 20, 2020

Shipowner SFL Corporation has agreed to buy a newbuild 308,000 dwt very large crude carrier (VLCC), in combination with a seven-year bareboat charter with an unnamed oil major, adding nearly $60 million to SFL’s fixed-rate charter backlog.The…

National Oil Companies to Cut Over a Quarter of Exploration Budgets

May 20, 2020

National oil companies (NOCs) globally are estimated to cut exploration budgets by over a quarter on average in 2020, says energy intelligence group Wood Mackenzie.Woodmac said Wednesday its analysis was based on announcements and tracking well plans of 11 top spending NOC explorers…

KrisEnergy's Ang Becomes Permanent CFO

May 19, 2020

Southeast Asia-focused oil company KrisEnergy has appointed Joanne Ang, currently the Group’s interim Chief Financial Officer (“CFO”), as a permanent CFO.“The Board has reviewed and considered the qualifications, relevant experience and past performance of Ms…

Damen Equipment for Korea's Oil Spill Recovery/Dredging Vessel

May 19, 2020

Dutch Damen Shipyards Group has signed a deal with Korean yard Hanjin Heavy Industries and Construction (HHIC) to deliver components for an oil recovery/dredging vessel. Under the deal, Damen will deliver all equipment for oil recovery operations as well as a complete dredging installation…

Petronas Farms Out Part of Suriname Offshore Block to Exxon

May 19, 2020

Malaysian oil and gas company Petronas has completed the farm-down of a 50% stake in an offshore Suriname block to a subsidiary of ExxonMobil.The offshore block, known as Block 52, is located north of the coast of Paramaribo, Suriname’s capital city…

Brent Hits One-month High, U.S. Oil Tops $32 as Lockdowns Ease

May 18, 2020

Oil prices jumped on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30, supported by optimism about the reopening of economies and output cuts by major producers. Brent crude was up $2.32, or 7.1%, at $34.82 a barrel by 1344 GMT…

CNOOC, Shell JV sign $5.6B Ethylene Plant Expansion Deal in China

May 18, 2020

CNOOC and Shell Petrochemicals Company Ltd (CSPC), a joint venture established by China National Offshore Oil Corp(CNOOC) and Royal Dutch Shell, signed a framework agreement worth $5.6 billion with China's Huizhou city government to expand its ethylene project in the city…

Rystad: Oilfield Services Firms' Market Cap Halved. Offshore Drillers Have it Worst

May 15, 2020

Oilfield services companies have collectively lost almost half of their market capitalization, hit by the combination of the coronavirus pandemic and low oil prices, with offshore drillers, in particular, the most affected, Norway's Rystad Energy has said in its analysis released on Friday…

Chinese Survey Ship Leaves Malaysian Waters After Standoff

May 15, 2020

A Chinese survey ship that had been involved in a month-long standoff with a Malaysian oil exploration vessel in the South China Sea has left Malaysia’s exclusive economic zone (EEZ), shipping data showed on Friday.Since mid-April, the Haiyang Dizhi 8 had been surveying in the EEZ…

Saudi Arabia Must Keep Cool and Balance Deep Oil Cuts with Need for Gas

May 15, 2020

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…

VIDEO: SBM Offshore's Liza Unity FPSO Moves to Dry Dock

May 15, 2020

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…

Eni Suspends SSV Catarina Offshore Drilling Rig

May 15, 2020

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 Warns of Project Delays on COVID-19, Lower Oil Prices

May 15, 2020

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…

Prosafe's Whole Fleet May Soon Be Idle

May 14, 2020

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…

Current News

Malaysia: Tanjong Baram Field Contract Terminated

Malaysia: Tanjong Baram Field Contract Terminated

Lightning Sparks Fire at Hengyuan's Malaysian Refinery

Lightning Sparks Fire at Hengyuan's Malaysian Refinery

Petronas Braces for Severe 2020 Hit. 1Q Profit Down 68%

Petronas Braces for Severe 2020 Hit. 1Q Profit Down 68%

South Korea's DSME Wins $330M FSRU Order

South Korea's DSME Wins $330M FSRU Order

China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration

China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration

Rosneft Re-appoints Sechin as CEO

Rosneft Re-appoints Sechin as CEO

Indonesia OKs Coro's Duyung PSC Farm-In

Indonesia OKs Coro's Duyung PSC Farm-In

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com