Norway's oil production remains profitable despite the recent plunge in prices and it does not plan to shut output, the country's Minister of Petroleum and Energy said on Tuesday.The price of North Sea Brent crude fell to its lowest level in…
Dutch offshore equipment manufacturer Huisman has signed a contract with PaxOcean Engineering for the delivery of a 1,600mt Leg Encircling Crane. The crane will be installed on the new self-elevated platform (SEP) of Japanese company Penta-Ocean Construction…
Norwegian Oil and Gas Association has appointed Anniken Hauglie, former Minister of Labour and Social Affairs, as its new CEO.The association representing interests of oil and gas companies in Norway expects to benefit from Hauglie's political experience…
Private equity-backed gas producer Neptune Energy plans to cut its budget for development projects by around $300 million this year and will not pay a cash dividend to its owners Carlyle and CVC Capital Partners, it said on Tuesday.Following the collapse in oil prices…
Abu Dhabi-based Gulf Marine Services (GMS) said on Tuesday it had reached an agreement with its syndicate of banks to restructure its debt that will help it weather the coronavirus crisis.London-listed GMS provides support vessels for offshore oil and gas and other energy installations…
ABS, a classification services provider to the marine and offshore industries, will provide classification for a series of 'highly innovative Self-Elevating Drilling Units (SEDU)' for Silver Eagle Global.Silver Eagle, of Manama, Bahrain, says…
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…
Italian marine cable installation company Prysmian plans to cut the dividend by 50 percent, citing the effect of the coronavirus pandemic and its effects on the global economy.Citing the spread of the pandemic and its potential duration, and…
Norwegian energy intelligence company Rystad Energy has painted a bleak picture for the drilling rig market outlook in South East Asia but has also said that Malaysia's Petronas will have a large role in where the market goes. Further, the intelligence…
Swedish company Coor has won offshore facility management services extension with Norway's oil company Equinor.Coor, which has delivered facility management services to five of Equinor's oil platforms since 2015, has won now won a three-year extension…
Oil recovered ground on Tuesday after U.S. President Donald Trump and Russian President Vladimir Putin agreed to talks to stabilize energy markets, with benchmarks climbing off 18-year lows hit as the coronavirus outbreak cut fuel demand worldwide…
Australian energy services company Worley has secured an extension to an existing services contract with Chevron Australia.Under the contract, engineering and procurement services will be provided to support Chevron's Australian assets, including the Gorgon project…
Norway will allow entry to certain European citizens for work in sectors critically short of labor including agriculture and the oil industry despite its lockdown to fight the coronavirus pandemic, the government said on Monday.The measure, which takes immediate effect in the Nordic country…
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…
FPSO leasing company BW Offshore has informed that a charter for FPSO Cidade de Sao Mateus has expired. The FPSO was involved in an explosion in February 2015, an incident in which nine workers were killed, and 26 others injured. There were…