Keppel Corporation has launched arbitration proceedings against offshore drilling company Awilco Drilling over the latter's recent move to terminate a semi-submersible rig construction contract worth about $425 million.Awilco earlier in June…
China’s new low-sulphur fuel oil (LSFO) futures contract made strong gains in its debut trade on Monday, rising as much as 16.7% on the Shanghai International Energy Exchange (INE).The front-month January contract, with a listing price of 2…
Chinese refiners have the capacity to produce 18.1 million tonnes of low-sulphur fuel oil (LSFO) this year, which would make the country self-sufficient in the new shipping fuel, an official with state major PetroChina said on Monday.China has…
China aims to produce 1% more crude oil this year than in 2019 and to boost natural gas output by 4.3%, official targets showed on Monday, as the country seeks to safeguard energy security even after a coronavirus-driven collapse in oil prices…
Japanese power generator JERA said on Monday it has agreed with France's state-owned investment firm ADEME Investissement and French floating wind technology supplier Ideol on key terms for forming a joint venture to develop floating offshore wind farms…
China National Offshore Oil Corp, or CNOOC, has agreed to buy from Royal Dutch Shell two cargoes of liquefied natural gas with offset carbon emissions, marking China's first gas imports of this kind, said the Shanghai Oil and Gas Exchange.CNOOC…
Oil and gas company Neptune Energy is looking to reduce its workforce by 400 positions, half of which are contractor roles, citing the impact of the COVID-19 and a drop in oil prices.'We anticipate approximately 400 roles across nine countries to be impacted by these proposals…
The recovery in Asia's demand for oil remains fragile despite the reopening of economies across the region, as a second wave of coronavirus outbreaks could hit consumption again, the outgoing head of Malaysia's Petronas said.'We really had a collapse these past few months…
China's marine fuel futures contract that debuts on Monday on the Shanghai International Energy Exchange (INE) is likely to attract strong interest, despite weakened ship fuel demand amid the coronavirus pandemic, industry participants said…
Taiwanese company Tien Li Offshore Wind Technology has started construction on 210,000 square meter facility in Taichung Harbour to supply offshore wind blades to Taiwan's growing offshore wind industry.Tien Li is one of key local supply chain partners of wind turbine builder MHI Vestas…
Oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and signs of demand, hit by the coronavirus crisis, recovering.Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday…
Australian oil and gas firm Triangle Energy has shut production from two wells ell at the Cliff Head offshore field, one due to a pump failure, the other as a precautionary measure.'Production from CH6 [well] was shut-in on the afternoon of…
Malaysia's Petronas said it has deferred maintenance activities at the Kebabangan gas field in Sabah, which had been originally slated for April.Malaysia implemented lockdown measures in March to curb the spread of the coronavirus.'Maintenance…
Dutch offshore services company Fugro has won a 3-year inspection, repair and maintenance (IRM) contract with Seamec in India.Under the contract, Fugro will support Seamec's asset management project for oil company ONGC off the west coast of India…
The article has been updated to include a statement by the Heerema Marine Contractors' spokesperson.Heerema Marine Contractors' heavy lift vessel Aegir has earlier this week experienced a drop fall incident off the coast of Taiwan where it is working on an offshore wind project…
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