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200+ Oilfield Services Firms Could Go Bust

Mar 18, 2020

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…

Oil Price Crash - Where Does Asia Go from Here?

Mar 17, 2020

Energy companies across the Asia Pacific responding to unprecedented challenges on multiple fronts 2020 has hit us like a fist. Coronavirus is already the most severe shock to hit the world economy since the financial crisis over a decade ago…

MCI Bags OSV Fire Damper Order in Asia

Mar 16, 2020

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…

Fair Winds and Following Offshore Work in Asia

Mar 16, 2020

Climate change has been a hot topic over the last few years, with tighter environmental regulations being introduced.Large multinational companies are under increasing pressure to reduce their carbon footprint and transition to cleaner energy solutions…

Oil Prices Set for Biggest Weekly Drop Since 2008

Mar 13, 2020

Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 7% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply.Brent crude was up $2.50, or 7.3% on the day…

Chevron Wraps Sale of Malampaya Field Stake

Mar 13, 2020

U.S. oil major Chevron has completed the exit from the Shell-operated Malampaya gas project offshore the Philippines with the sale of its 45% non-operating interest in the field to Udenna Corporation. The sale deal was signed in October 2019…

OPEC and How it Has Dealt with Oil Price Crashes

Mar 12, 2020

The Organization of the Petroleum Exporting Countries was set up in 1960 to coordinate oil production policy among its members but in recent decades it has increasingly cooperated with producers outside the group to manage the market. This month…

Offshore Oil Rig Infection Exposes Coronavirus Dangers

Mar 12, 2020

Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.A worker…

Cooper Energy: Sole Field Gas Flows to Orbost Plant

Mar 11, 2020

Oil and gas company Cooper Energy focused on southeast Australia, has said that its Sole gas project has passed a critical milestone.The company said the milestone was achieved with the first flow of gas from the Sole gas field in the Gippsland…

Kazakhstan Cuts Gas Supplies to China by 20-25%

Mar 11, 2020

Kazakhstan has reduced natural gas supplies to China by 20-25%, Energy Minister Nurlan Nogayev said on Wednesday, after importer PetroChina issued a force majeure notice to suppliers this month.PetroChina has suspended some natural gas imports…

ABB Power & Control for Japan's Wind Turbine Installation Vessel

Mar 10, 2020

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…

CNOOC Pondering Internal Merger for Gas, Power Unit

Mar 10, 2020

China National Offshore Oil and Gas Corp (CNOOC) is set to inject its struggling natural gas terminal and power unit into its flagship listed vehicle CNOOC Ltd, three senior sources with knowledge of the matter said. The plan for the internal merger…

IEA: Global Oil Demand Set to Contract for the First Time since 2009

Mar 10, 2020

Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday. The downward revision came as oil prices dropped…

Solstad Lines Up Contract for Far Stream

Mar 09, 2020

Norwegian ship owner Solstad Offshore said it has secured work for its 2006-built anchor handling tug supply vessel (AHTS) Far Stream supporting a six-well drilling program for a major Malaysian operator.The 285-day contract is due to commence…

Asia Petchem Makers Maintain Run Cuts

Mar 09, 2020

Even after an explosion idled a massive Asian petrochemicals complex, most petchem makers in the region won't up output from current low levels because sluggish demand from China will mean there is no supply gap, industry sources said on Monday…

Current News

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

PetroVietnam to Invest in Renewables Amid Shrinking Oil Output

PetroVietnam to Invest in Renewables Amid Shrinking Oil Output

Essar Steel Seeking LNG Cargoes for 2021-2023

Essar Steel Seeking LNG Cargoes for 2021-2023

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