SBM Offshore forecast that 2021 core earnings will be slightly below market expectations, the multinational oil firm said on Thursday, noting 2020 challenges will spill into 2021 as many of its clients had to cut budgets.The Dutch company, which supplies floating oil and gas production vessels…
Japan's biggest oil and gas explorer Inpex Corp posted a net loss of 111.7 billion yen ($1.1 billion) in 2020 as the COVID-19 pandemic hammered oil prices, cutting its sales and forcing it to book hefty impairment losses.The result marks Inpex's…
GoSubsea, a newly established subsea equipment and service company has launched its Norway-based facility, targeting Scandinavian clients across the oil and gas, renewables, aquaculture, and educational research industries.According to the company's statement released Wednesday…
U.S. oil producer Hess Corp has been selected to market two Guyana crude oil shipments as the emerging oil power seeks a permanent partner to handle its share of a major offshore oil find, the country's vice president said on Tuesday.The South…
Oil and gas company Apache Corporation on Wednesday appointed Lamar McKay, former BP upstream chief, to its board of directors.McKay, 62, served as the chief transition officer of BP p.l.c. (BP) from October 2019 until his retirement in December 2020…
Tullow Oil CEO Rahul Dhir said on Wednesday he expected talks with creditors, including bondholders, to end in the second quarter with a focus on matching maturities with expected cashflows.Tullow had a market capitalization of around $596 million on Wednesday and net debt of $2…
Sapura Energy, a Malaysian integrated oil and gas services and solutions provider, said Wednesday its Engineering and Construction (E&C) and Drilling divisions have recently secured contracts with a combined value of about RM1.85 billion (around USD 457 million)…
Danish offshore wind farm developer Ørsted has teamed up with Polish PGE to develop two offshore wind farm projects in the Baltic Sea, off Poland.Ørsted and PGE will form a 50/50 joint venture which will work on the development, construction…
SSE Renewables and Total have announced that Global Energy Group's Port of Nigg near Inverness has been selected as turbine foundation marshaling port for their giant Seagreen offshore wind farm.The marshaling contract will support 141 skilled jobs at Global Energy Group’s Port of Nigg…
Japanese oil company Cosmo has been awarded exploration concession for Offshore Block 4 in Abu Dhabi, ADNOC, the Abu Dhabi national oil firm said.Under the agreement, Cosmo will own a 100 percent stake in the exploration phase, investing up to $145 million towards exploration and appraisal drilling…
Dutch-based ship repair and vessel services firm ROG is going independent as the company has reacquired a controlling 75% stake previously held by Royal IHC.The company, which provides services to the maritime and offshore industry through its ROG Ship Repair and Rotterdam Offshore units…
Malaysian oil firm Petronas and Thailand's PTTEP on Wednesday announced they'd made a large gas discovery at the Lang Lebah-2 well, offshore Sarawak, Malaysia.The well is located in Block SK410B, in the Central Luconia Province, about 80 kilometers off the coast of Sarawak…
Norway's Equinor has agreed to sell its assets in the U.S. Bakken shale oil province after a decade of multi-billion-dollar losses and criticism for poor investment decisions.Equinor will sell its entire Bakken acreage, located in the states of North Dakota and Montana to Grayson Mill Energy…
Danish wind turbine builder Vestas has introduced a giant 15 MW offshore wind turbine - V236-15.0 MW- joining GE's and Siemens' 'bigger is better' party.Vestas said the new turbine will have the world’s largest swept area exceeding 43,000 m2…
Vattenfall's Horns Rev 3, Denmark's largest offshore wind farm, has received a project certificate from certification firm DNV GL, proving a safe and cost-efficient operation of the offshore wind farm.The 412 MW Horns Rev 3 offshore wind farm…