Norway, Western Europe's largest oil producer, will slash its output from June to December of 2020, the oil and energy ministry said on Wednesday, the first time in 18 years it has joined other major producers to shore up prices.'We will cut Norwegian production by 250…
Aker Solutions expects its revenue to fall by 30% this year, driven down by the impact from the COVID-19 pandemic and the crash in oil prices, and plans to respond with further cost-cutting, the Norwegian oil services company said.'The depth and scale of the decline is still unclear…
Malaysia's largest oil and gas services company Sapura Energy said on Thursday it expects a delay in projects due to the historic rout in oil prices and as widespread coronavirus shutdowns hit demand.'Delays are inevitable,' Chief Executive Shahril Shamsuddin said in an earnings conference call…
A British court on Wednesday approved Premier Oil's plans to extend debt maturities by two years and raise up to $500 million in equity to buy North Sea assets from BP and others, but the deal depends on market conditions, Premier said.Activist hedge fund ARCM…
ScottishPower Renewables and Macquarie’s Green Investment Group (GIG) said Wednesday that all of the 102 offshore wind turbines were installed on the East Anglia ONE offshore windfarm.The installation began in June 2019, and now a total of 102 Siemens Gamesa SWT-7…
Keppel Offshore & Marine, an offshore construction subsidiary of Singapore's Keppel Corp, expects challenging conditions ahead due to the drop in oil prices but says its business diversification into gas and renewables has paid off.The company…
CNOOC Ltd on Wednesday lowered its 2020 oil and gas production and capital spending, China's state offshore oil and gas producer said.It cut its capital spending target by 10 billion yuan ($1.41 billion) to a range of 75-85 billion, CNOOC said…
UK oil and gas producer EnQuest is planning workforce reductions in the UK as some of its North Sea fields are expected to cease production, while others will remain shut as part of a recently announced cost-cutting initiative.When it comes to the planned workforce cuts…
Australian offshore safety regulator NOPSEMA has approved Inpex's application to install Umbilicals, Risers and Flowlines (URF) infrastructure as part of the next stage of the development of the Ichthys gas and condensate field offshore W. Australia…
Oil and gas firm Neptune Energy has informed that another partner - Eneco - has joined the PosHYdon pilot, the world’s first offshore green hydrogen project, being developed in the Dutch North Sea.PosHYdon integrates three energy systems in the Dutch North Sea: offshore wind…
Norwegian engineering company Aker Solutions has had its carbon-capture technology approved for use at Norcem's cement plant in Brevik, it said on Wednesday.Carbon capture and storage (CCS) is widely viewed as a crucial technology to achieve emission reductions from the likes of the cement industry…
Oslo-listed marine seismic services company Polarcus has signed a contract for a survey in the Asia Pacific region.Polarcus said Wednesday that it had received a deal for an XArray marine seismic acquisition project, without disclosing the identity of the client nor the financial details…
Orsted beat first-quarter profit expectations on Wednesday and said the coronavirus would not 'materially' hit earnings this year although it might slow U.S. projects.The world's largest offshore wind developer said it did not expect the coronavirus…
Offshore accommodation specialist Floatel has secured a contract extension for its Floatel Endurance accommodation rig in Norway.The extension is with the Norwegian oil firm Equinor for work at the Martin Linge field, where Equinor is working to bring the field in production…
Up to 30,000 jobs could be lost in the UK's offshore oil sector as companies grapple with the effects of the coronavirus pandemic and a 20 year low in oil prices and a 14 year low for gas, Oil & Gas UK has warned.The industry is expected to see a dramatic reduction in revenue…
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