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Oil Prices Rise Ahead of OPEC+ Meeting on Further Output Cuts

Jun 02, 2020

Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later this week.Brent crude futures rose 0.91%, or 35 cents, to $38.67 a barrel as of 0427 GMT…

Qatar Petroleum in 'Largest LNG Shipbuilding Deal in History'

Jun 01, 2020

Qatari state-owned oil and gas company Qatar Petroleum has entered into what it says 'are the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion [USD19,2 billion] to cater for its LNG growth plans…

Iran Ready to Continue Fuel Shipments to Venezuela

Jun 01, 2020

Iran will continue fuel shipments to Venezuela if Caracas requests more supplies, the Iranian Foreign Ministry spokesman said on Monday, despite Washington's criticism of the trade between the two nations, which are both under U.S. sanctions…

Bosch Rexroth Launches Subsea Clamping Cylinder for BSC

May 29, 2020

Bosch Rexroth has launched a new Subsea Clamping Cylinder for fully automatic Bend Stiffener Connectors (BSCs).The system is designed for use for up to 25 years, and, according to the company, is 'impressive' with its high clamping forces, powerless holding operation…

Industry Group Calls for 'Key Worker' Status for Offshore Energy Workers

May 29, 2020

The International Marine Contractors Association (IMCA) has said that it continues its work to have all offshore energy workers recognized as 'key workers', in order to facilitate the efficient movement of personnel during the Covid-19 pandemic…

UAE: Jack-Up Providers Team Up to Cut Costs

May 29, 2020

UAE-based jack-up services provider Gulf Marine Services has entered into a framework agreement with Zakher Marine International ('ZMI'), a privately-owned offshore services provider also based in UAE. Both companies own fleets of self-propelled…

Siemens Equipment for Pertamina's Balikpapan Refinery

May 28, 2020

Siemens Gas and Power will supply a range of compression and power generation equipment for the Petramina's Balikpapan Refinery located on Borneo Island in East Kalimantan, Indonesia.The equipment will be installed as part of Pertamina’s Refinery Development Master Plan (RDMP)…

China's VLSFO Exports Rose By a Third in April

May 27, 2020

China's low-sulphur marine fuel exports rose by a third in April compared with March to the highest level yet after it waived export taxes for domestic refiners to meet shipping demand, Chinese customs data showed.Chinese refiners began exporting…

First Topside Module Lifted on Coral South FLNG Hull

May 27, 2020

Eni-operated Coral South FLNG project is making progress with the first topside module installed aboard the hull of the under-construction FLNG unit destined to develop offshore gas fields in Area 4 of the Rovuma Basin, Mozambique.Coral FLNG SA…

GMS Fleet Utilization at 2015 High as More Middle East Work Secured

May 27, 2020

Gulf Marine Services PLC (GMS), a UAE-bases supplier of offshore jack-up service units, has won a seven-month contract for one of its E-Class (large) vessels, and an extension for a smaller unit.Under the 7-month contract which also includes extension options…

Petronas Braces for Severe 2020 Hit. 1Q Profit Down 68%

May 22, 2020

Malaysian state oil firm Petronas posted a 68% slump in first-quarter profit on Friday and said it would cut capital expenditure and operating expenses as it braces for a big hit to its full-year performance due to the coronavirus pandemic.Petronas…

China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration

May 22, 2020

China said on Friday it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries, as it looks to ensure energy supply and offset the impact of the coronavirus pandemic.In energy announcements on the first day of the parliament…

Rosneft Re-appoints Sechin as CEO

May 22, 2020

Russian energy giant Rosneft on Friday re-appointed Chief Executive Igor Sechin, an ally of President Vladimir Putin, for another five years.Sechin, who turns 60 in September, turned the company into one of the world's top oil players and earned the accolade of oil tsar…

Oil Price at Highest Since March

May 21, 2020

Oil rose on Thursday to its highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions on people's movements imposed due to the coronavirus crisis.Crude prices have slumped in 2020…

Thailand: Gulf Energy Gets License to Import up to 1.7M Tonnes of LNG a Year

May 21, 2020

Thai Gulf Energy Development Pcl received licenses from the government to import up to 1.7 million tonnes of liquefied natural gas (LNG) each year, the company said on Thursday, in a move that will cut energy costs.It becomes the second firm to be granted such a license…

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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