Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending.The decline comes as the coronavirus pandemic has crushed oil and gas demand, and Saudi Arabia and Russia pump full bore in a grab for market share that has shale producers reeling…
Oily water separators (OWS) have been a common fixture of a ship’s machinery space for many decades. With the amount of experience, research and legislation that has gone into them, it would be easy to think that their use would almost be hassle free…
Well completions specialist Tendeka has secured a three-year contract with Mubadala Petroleum, to supply sand-face completion equipment in Thailand.Under the deal, Tendeka will supply sand screens and autonomous inflow control devices (AICD) to Mubadala Petroleum’s Jasmine…
More than 200 oilfield services companies might be forced to declare bankruptcy - most of them in Norway and the UK - due to the effects of the Covid-19 pandemic and its effect on oil prices.This is according to Norway-based energy intelligence firm Rystad Energy…
UK-based marine equipment company Marine Components International (MCI) has won a new deal to supply A60 fire dampers for two new offshore support vessels (OSV) being built in Asia.This is the company's first export deal for fire dampers since…
Franco-American oil services firm TechnipFMC Plc is putting on hold plans to split itself into two due to turbulence in financial markets linked to the coronavirus outbreak, it said on Sunday.The group, created three years ago via the merger of Technip and FMC…
ABB will equip Japan-built self-elevating wind turbine installation vessel with its power and control technologies.The company said Tuesday that the 28,000-GT jack-up unit on order from builder Japan Marine United Corp, and due for delivery to Shimizu Corp…
UK-based offshore equipment specialist Sparrows Group has signed a deal for the delivery of three cranes for Qatargas' giant North Field offshore expansion project.Sparrows said Wednesday the contract was secured through McDermott International…
U.S. oilfield equipment supplier National Oilwell Varco on Friday called the coronavirus a 'wildcard' in the oil industry's outlook, with an extended outbreak potentially hurting access to Chinese-make materials and foreign sales.The Houston…
SOFEC said it has loaded out of the replacement turret for the floating storage and offloading unit (FSO) HYSY121 at the Lufeng field, in the South China Sea.The construction was completed at Penglai Jutal Offshore Engineering Heavy Industries Co…
Rotating equipment services provider Sulzer said it has opened a new service center in Semenyih, Malaysia to offer specialist technical knowledge and support for all types of pumps, electrical equipment and turbomachinery for local industries including oil and gas…
Drilling rigs and equipment firm HENDERSON said it has named Chris Naquin as senior business development manager.His job responsibilities will include building and maintaining relationships with drilling contractors to service their fabrication…
Oilfield equipment and service provider National Oilwell Varco has begun trimming its workforce for the second time this year, two people familiar with the matter said this week, as oil producers cut spending budgets.The Houston, Texas-based…
Aberdeen-based equipment and integrated engineering services company Sparrows Group said it has bolstered its position in Saudi Arabia after securing vendor approval status from national oil company Saudi Aramco.The approval allows recently formed local entity…
Norway's Aker Solutions ASA raised its 2019 revenue outlook on expected higher spending on the offshore oil services and reported better than expected first-quarter profits, lifting its shares on Tuesday.The upbeat sentiment on oilfield spending…
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