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 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…
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'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…
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…
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 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…
Offshore drilling firm Seadrill Partners has said it has received a notice of termination for the 2008-built West Polaris drillship contract.'As a result, the contract is expected to conclude in early November 2020, and the backlog is expected to decrease by approximately $23 million…
Prices for spot liquefied natural gas (LNG) cargoes imported into Japan, the world's biggest buyer of the fuel, fell in April to their lowest since the country's trade ministry started compiling data in 2014. The latest low for LNG cargoes into…
Mubadala Petroleum and its partner Tap Oil have approved the 2020 Manora field development drilling program, with the first well set for spud this week.Tap Oil said Thursday that the three-well drilling campaign at the Gulf of Thailand would…
The Russian government has extended a contract for Igor Sechin, a close ally of President Vladimir Putin, to stay as the chief executive officer of giant oil producer Rosneft for five more years, Vedomosti daily reported on Wednesday.The daily…
Oslo-listed offshore drilling contractor Awilco Drilling did not generate revenue during the first quarter of 2020, and it on Wednesday reported a net loss of $9,4 million. However, the company is optimistic about the future, that is, when its high-end rigs…
U.S. engineering and construction giant KBR has been awarded a contract for Carbon Capture and Sequestration works at JX Nippon's offshore oil and gas fields in South East Asia.Under a Master Service Agreement (MSA) and Feasibility Study awarded to KBR by Japan-based oil and gas company JX Nippon…
Mitsubishi UFJ Financial Group said on Wednesday it has put oil sands extraction and drilling for crude oil and gas in the Arctic on its 'restricted transaction' list, potentially a further tightening on financing fossil fuels by Japanese banks…
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…
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