Major oil industry producers and traders are forecasting a bleak future for worldwide fuel demand, due to the coronavirus pandemic's ongoing assault on the global economy.The novel coronavirus hammered fuel demand in the spring, causing consumption…
Russian oil company Lukoil said Tuesday it had installed the jackets of the fixed ice-resistant platform at the V.I. Grayfer field in the Caspian Sea. Ahead of being shipped to the offshore location, the 3,700+ tonnes heavy jackets were moved…
More than a fifth of U.S. offshore oil production was shut and key exporting ports were closed on Tuesday ahead of Hurricane Sally's landfall on the U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month…
Premier Oil Plc said on Tuesday it was in talks with private-equity backed oil producer Chrysaor and several other parties on alternative deals to secure long-term debt refinancing.Premier announced on Aug. 20 that it was seeking a total of $530 million in fresh equity…
Wilhelmsen, one of the world's largest shipping companies, has agreed to acquire a 25% stake in Østensjø Group’s growing offshore wind business Edda Wind.Wilhelmsen has also secured an option to buy another 25% before June 2021. Launched in 2018…
The first offshore wind turbine generator nacelle has been completed for what will be France's first offshore wind farm - the Saint-Nazaire project - wind turbine maker GE Renewable Energy said Tuesday.The nacelle, which contains the generator…
Norwegian offshore oil and gas engineering and construction firm Aibel will provide a field engineering, concept optimization, and definition study for Equinor's unmanned process platform at the Krafla field in the North Sea off Norway, under a contract announced Tuesday…
Chinese offshore oil company CNOOC has said that its first offshore wind project has started producing electricity. The company said Tuesday that its offshore wind power project had connected to the grid and begun to generate power. The 300MW…
Brazilian oil company Petrobras has started negotiations with the Dutch FPSO supplier SBM Offshore over a potential charter of an FPSO to be installed at the giant Buzios field in the Santos Basin, offshore Brazil.The FPSO, to be named Almirante Tamandaré…
Subsea umbilical and cable company JDR has won a contract with Subsea 7 to supply a 9.3km production and control umbilical, topside equipment and subsea terminations for the offshore Elgood field in the UK Continental Shelf.Elgood, operated by Independent Oil and Gas…
London-listed oil company Premier Oil has informed that the completed jacket and topside are now en route to the company's Tolmount field in the UK sector of the North Sea.The 500 bcf field, sanctioned in 2018, had been on schedule for first gas by the end of the year…
Oil and gas company Apache, with its partner Total, is on the hunt for its fourth offshore oil discovery in Suriname.The company has this year announced discoveries at Sapakara West, and Maka Central, and most recently, Kwaskwasi well - all in Block 58…
The North Sea-focused oil company Ithaca Energy has signed a 5-year Integrated Services Contract with oilfield services provider Petrofac.Under the contract, Petrofac will provide engineering, construction, maintenance, and offshore manning…
Undaunted by hefty writedowns on its Australian gas assets, Royal Dutch Shell sees its liquefied natural gas business and 'new energy' acquisitions Down Under as core to its long term plans, the Australian unit's chairman said on Tuesday.As…
Thai subsea services company Mermaid Maritime has decided to sell its stake in Asia Offshore Drilling, a drilling joint venture with Seadrill, to limit its exposure to the volatile offshore drilling market.Mermaid, which owns a 33.76% in AOD…