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Chinese Survey Ship Leaves Malaysian Waters After Standoff

May 15, 2020

A Chinese survey ship that had been involved in a month-long standoff with a Malaysian oil exploration vessel in the South China Sea has left Malaysia’s exclusive economic zone (EEZ), shipping data showed on Friday.Since mid-April, the Haiyang Dizhi 8 had been surveying in the EEZ…

'We Won't Just Weather the Crisis, We'll Come Out Stronger,' SBM Offshore CEO Says

May 14, 2020

SBM Offshore, one of the world's largest FPSO solutions providers, on Wednesday slightly reduced 2020 guidance due to uncertainty caused by the COVID-19 pandemic and the low oil price environment, but the CEO is optimistic the company will not just weather the storm…

Japan Spot LNG Import Prices Hit Record Low

May 14, 2020

Prices for spot liquefied natural gas (LNG) cargoes imported into Japan, the world's biggest buyer of the fuel, fell in April to their lowest since the country's trade ministry started compiling data in 2014. The latest low for LNG cargoes into…

Mubadala, Tap Oil Sanction Three-Well Drilling Program at Manora Field

May 14, 2020

Mubadala Petroleum and its partner Tap Oil have approved the 2020 Manora field development drilling program, with the first well set for spud this week.Tap Oil said Thursday that the three-well drilling campaign at the Gulf of Thailand would…

Japan's JX Nippon Taps KBR for CCS, Hydrogen Study

May 13, 2020

U.S. engineering and construction giant KBR has been awarded a contract for Carbon Capture and Sequestration works at JX Nippon's offshore oil and gas fields in South East Asia.Under a Master Service Agreement (MSA) and Feasibility Study awarded to KBR by Japan-based oil and gas company JX Nippon…

Petronas Drillship Exits South China Sea After Standoff

May 12, 2020

An oil exploration vessel contracted by Malaysian state energy company Petronas that was involved in a standoff with a Chinese survey vessel in the South China Sea left the disputed waters on Tuesday, three security sources and the vessel operator said…

Shell, Eni Lead Oil Majors' Climate Ambitions But Still Fall Short - Investors

May 12, 2020

None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday.The Transition Pathway Initiative (TPI),…

Saudi Arabia to Reduce Oil Production Further

May 11, 2020

Saudi Arabia will voluntarily deepen oil output cuts from June as low oil prices are causing huge pain to the kingdom's budget and global demand remains weak due to lockdowns to contain the coronavirus pandemic.The announcement by the kingdom…

Norwegian Firm Nets Anna Nery FPSO Topside Modules Job

May 11, 2020

Norwegian offshore EPC contractor Aragon has won a contract to deliver topside modules for Malaysia-based Yinson's Anna Nery FPSO that will produce oil from Petrobras' Marlim field in Brazil.The Bergen-based company, part of Singapore's SembMarine…

Exxon Cutting Costs at Russia's Sakhalin-1 Project

May 08, 2020

Exxon Neftegaz Ltd (ENL) is adjusting the schedule and scope of some of its activities at the Sakhalin-1 oil and gas project in far eastern Russia as it moves to cut spending in response to the coronavirus crisis and weak oil prices, it said on Friday…

GMS Rejects Seafox Proposal Again

May 07, 2020

Gulf Marine Services (GMS), a UAE-based owner of a fleet of jack-up service units for the offshore energy industry, has again rejected Seafox's takeover proposal and has urged its shareholders to do the same.Seafox, the Dutch owner of a fleet of offshore jack-up service vessels…

Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts

May 07, 2020

Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide…

Equinor CEO Doesn't Believe in Quick Oil Market Rebound

May 07, 2020

More global oil production curtailments will be needed to reduce the gap between supply and demand and normalize the oil market, the chief executive of Norway's Equinor said on Thursday.Eldar Saetre, who led the company through the previous market downturn in 2014-2016…

Seafox Hopes GMS Will Reconsider on Takeover Proposal

May 06, 2020

Offshore jack-up rig company Seafox has increased its ownership in rival and takeover target Gulf Marine Services to 16.39 percent by acquiring 9,38 million shares in GMS on the market at a price of 10 pence per share on Tuesday.The Dutch company also made a 'no increase' statement…

Hibiscus in Oil Offtake, Funding Agreement with Trafigura

May 05, 2020

Bursa Malaysia-listed oil and gas firm Hibiscus Petroleum has signed agreements with global oil trader Trafigura for crude offtake and for future financing.The agreements include potential future offtake of crude oil by Trafigura from assets owned/projects undertaken by Hibiscus…

Current News

McDermott Names Senior VP for EMEA Region

McDermott Names Senior VP for EMEA Region

Chinese Ships Intruded into Malaysian Waters 89 Times in Four Years -Report

Chinese Ships Intruded into Malaysian Waters 89 Times in Four Years -Report

Gazprom Aims to Increase Gas Supplies to China

Gazprom Aims to Increase Gas Supplies to China

Offshore Wind Spending Hits Record High, Despite Covid-19

Offshore Wind Spending Hits Record High, Despite Covid-19

MOL Makes 13th Discovery in Pakistan

MOL Makes 13th Discovery in Pakistan

OPEC Expects Record Rise in Oil Demand in 2021

OPEC Expects Record Rise in Oil Demand in 2021

First Taiwan-built Offshore Installation Vessel to Sport Wärtsilä Gear

First Taiwan-built Offshore Installation Vessel to Sport Wärtsilä Gear

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