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Petronas Charters Alam Maritim AHTS

Apr 02, 2020

Malaysia's offshore vessel provider Alam Maritim has won a new work order from Petronas for the supply of an anchor handling tug supply vessel.While Alam announced the contract award on Thursday, the charter started on February 11, 2020.Alam…

Chinese Buyers Snap Up U.S. Oil Purchases at Widest Discounts Ever

Apr 01, 2020

China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in March applications from its companies to waive import tariffs on U…

COVID-19 Oil Demand Hit Renders OPEC+, Trump Actions Irrelevant

Mar 31, 2020

Imagine for a moment that the Organization of the Petroleum Exporting Countries (OPEC) and Russia had agreed at the start of this month to extend and deepen their crude oil output cuts. It wouldn't have made the blindest bit of difference.While it was only three and half weeks ago…

Oil Price: WTI Dips Below $20, Brent Touches 2002-Low

Mar 30, 2020

Oil prices fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent hitting its lowest in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further.Brent crude…

Tendeka's Equipment for Mubadala's Thailand Oil Fields

Mar 30, 2020

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…

Australia May Need LNG Imports from 2024

Mar 27, 2020

Australia will need to import liquefied natural gas (LNG) by 2024 for its southern states to avoid shortfalls unless more gas fields are developed locally and pipelines are expanded, the country's energy market operator said on Friday.Despite…

Woodside Halves Spending Plans. Delays Scarborough, Browse FIDs

Mar 27, 2020

Woodside Petroleum halved its forecast spending for 2020 and deferred go-ahead decisions for its two biggest gas projects to ride out the pain of the coronavirus pandemic and plunging oil prices.Australia's top independent gas producer said…

20 Workers Isolated at Field Feeding Nord Stream Pipeline

Mar 26, 2020

Gas giant Gazprom said on Thursday 20 workers have been quarantined at Bovanenkovo gas field, which feeds the Nord Stream pipeline and is a key source of Russian gas supplies to Europe, after contact with a person who has coronavirus.The outbreak…

Brent Crude Drops to $26.35. Outlook Bleak

Mar 26, 2020

Oil prices fell on Thursday, ending three sessions of gains, as movement restrictions worldwide to contain the coronavirus destroyed demand and overshadowed expectations that a U.S. $2 trillion emergency stimulus will bolster economic activity…

Vroon: Suspension on Crew Changes Extended

Mar 25, 2020

Dutch shipping company Vroon is extending its recently imposed suspension of crew changes on its vessels, citing the impact of the coronavirus.In a public letter addressed to colleagues, friends, and families, Vroon CEO Herman Marks said: 'Every day…

Chevron Lummus Global Lands 'Sizeable' Deal with Asian Refiner

Mar 25, 2020

Oilfield services firm McDermott International has informed that its Chevron Lummus Global (CLG), McDermott's joint venture with Chevron, has been awarded a sizeable contract by a Southeast Asian refiner.The contract is for for the license, engineering…

Oil Prices Fall as Demand Woes Eclipse U.S. Stimulus

Mar 25, 2020

Oil prices slipped into negative territory on Wednesday as faltering fuel demand from the spread of the coronavirus outweighed a massive pending U.S. economic stimulus package.Brent crude was down 45 cents, or 1.66%, at $26.70 per barrel at 1029 GMT after earlier rising to a high of $28…

Offshore Drilling: It’s Going to Get Worse Before It Gets Better

Mar 23, 2020

With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds. RigLogix has contacted a number of rig owners and operators and the consensus seems to be that it’s going to get worse before it gets better…

Oil Facing Prolonged Period of Demand Destruction

Mar 20, 2020

Oil prices rose on Friday as the world's richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession and U.S. President Donald Trump hinted he may intervene in the price war between Saudi Arabia and Russia…

AGS Scores OBN Survey Extension

Mar 19, 2020

Norwegian ocean bottom node seismic surveyor Axxis Geo Solutions (AGS) has won a contract extension for a survey in the Middle East.AGS was in December awarded the original OBN contract that started in January with scheduled completion near the end of the first quarter 2020…

Current News

Petrofac Nets $135M Contract with Kazakhstan's NCOC

Petrofac Nets $135M Contract with Kazakhstan's NCOC

China: BP, ENN Sign 300,000t a Year Gas Supply Deal

China: BP, ENN Sign 300,000t a Year Gas Supply Deal

Oceaneering Lands W. Australia Order

Oceaneering Lands W. Australia Order

Japan to Develop Offshore Wind Farms at 30 Sites in 10 years

Japan to Develop Offshore Wind Farms at 30 Sites in 10 years

Over 40 Offshore Rig Deals Dropped Since March. Still, There's Room for Optimism

Over 40 Offshore Rig Deals Dropped Since March. Still, There's Room for Optimism

Indonesia Produced 104.8 LNG Cargoes in Jan-June Period

Indonesia Produced 104.8 LNG Cargoes in Jan-June Period

Rystad: FPSO Contract Awards to Rebound in 2021 after Poor 2020

Rystad: FPSO Contract Awards to Rebound in 2021 after Poor 2020

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