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Sapura Energy CEO: Delays are Inevitable

Apr 30, 2020

Malaysia's largest oil and gas services company Sapura Energy said on Thursday it expects a delay in projects due to the historic rout in oil prices and as widespread coronavirus shutdowns hit demand.'Delays are inevitable,' Chief Executive Shahril Shamsuddin said in an earnings conference call…

Polarcus Wins Survey Work in Asia Pacific

Apr 29, 2020

Oslo-listed marine seismic services company Polarcus has signed a contract for a survey in the Asia Pacific region.Polarcus said Wednesday that it had received a deal for an XArray marine seismic acquisition project, without disclosing the identity of the client nor the financial details…

Diamond Offshore Sues Beach Energy for Terminating Drilling Contract

Apr 27, 2020

Bankrupt Diamond Offshore Drilling Inc has sued Australian oil and gas producer Beach Energy Ltd for abruptly terminating a $65 million drilling contract.Beach Energy ended the agreement, claiming Diamond Offshore missed a 'contractual milestone to deliver the rig'…

Singapore Adds Minerva Bunkering and TFG Marine to List of Bunker Suppliers

Apr 21, 2020

The Maritime and Port Authority of Singapore (MPA), home the world's top marine refueling hub, said it has awarded two new bunker supplier licenses to Mercuria's Minerva Bunkering and Trafigura's TFG Marine.'MPA and ESG welcome the entry of Minerva Bunkering and TFG Marine…

Beach Energy Ends Diamond Offshore Drilling Rig Deal Citing Late Arrival Date

Apr 20, 2020

Australian oil and gas company Beach Energy has terminated the contract for Diamond Offshore's Ocean Onyx semi-submersible drilling rig, citing delays in the rig's arrival.The rig was to be used by Beach Energy at the Victorian Otway Basin, however…

Thailand's EGAT to Receive 2nd Spot LNG Cargo from Malaysia's Petronas

Apr 20, 2020

State-run Electricity Generating Authority of Thailand said it will buy a second spot-market shipment of liquefied natural gas (LNG) on Tuesday.The state-owned PTT's Map Ta Phut LNG receiving terminal in the eastern part of Thailand will receive the 65…

U.S. Tells China to Stop 'Bullying Behavior' in South China Sea

Apr 20, 2020

The United States called on China on Saturday to stop 'bullying behavior' in the South China Sea and said it was concerned by reports of Beijing's 'provocative actions' aimed at offshore oil and gas developments in the disputed waters.Three…

New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says

Apr 15, 2020

Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the…

April May Prove Worst Ever Month for Oil Industry - IEA's Birol

Apr 15, 2020

International Energy Agency (IEA) Executive Director Fatih Birol said on Wednesday this month could prove the worst ever experienced by the oil industry.'In a few years' time, when we look back on 2020 we may well see that it was the worst year in the history of global oil markets…

Keppel O&M, EMA Launch Call for Smart Solutions in Offshore Sector

Apr 15, 2020

Singapore-based offshore rig builder Keppel Offshore & Marine has partnered up with Energy Market Authority (EMA) to develop energy solutions in the areas of distributed energy resources, digitalization and emerging low carbon alternatives.As part of the $10 million partnership…

OMV Strikes Oil and Gas Offshore New Zealand

Apr 14, 2020

Austrian energy firm OMV has said it has struck oil and gas in the Taranaki Basin offshore New Zealand.  OMV, as the operator of the Petroleum Exploration Permit (PEP) 60093, started drilling at the Toutoiwai-1 well in early March 2020.The oil…

Samsung Heavy Scores $209M Order for Two LNG-Fueled VLCCs

Apr 14, 2020

South Korea's Samsung Heavy Industries has signed a contract worth $209.2 million (KRW 253.6 billion) with a Bermudan ship owner to build two LNG-fueled VLCCs, which will be delivered by April 2022.The Very Large Crude Carriers will be equipped with S-Fugas…

OPEC, Russia Approve Biggest-Ever Oil Cut to Support Prices

Apr 13, 2020

OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%…

OPEC+ Oil Pact Hinges on Mexico Joining

Apr 10, 2020

Saudi Arabia's energy minister said on Friday that a final OPEC+ oil supply pact to reduce 10 million barrels per day (bpd), which was agreed on Thursday, hinges on Mexico joining in the cuts.OPEC, Russia and other allies, a group known as OPEC+…

Oil Holds near $32 ahead of OPEC-Led Talks on Output Cuts

Apr 08, 2020

Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus pandemic.Thursday's videoconference…

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