Energy News


Seadrill Suspends Debt Payments as Restructuring Talks Continue

Sep 16, 2020

A group of Seadrill's creditors has agreed to let the offshore drilling rig operator suspend interest payments this month as part of an ongoing effort to restructure its $7.3 billion debt, the Oslo-listed company said on Wednesday.Seadrill,…

Oil Industry Paints Grimmer Picture of Pandemic's Harm to Demand

Sep 15, 2020

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…

Gallery: Lukoil Installs Jackets for Caspian Sea Platform

Sep 15, 2020

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…

Wilhelmsen Buys Into Østensjø's Offshore Wind Business

Sep 15, 2020

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…

Photo: First Nacelle Built for France's First Offshore Wind Farm

Sep 15, 2020

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…

Aibel to Optimize Krafla Platform Concept

Sep 15, 2020

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 Oil Firm CNOOC Brings Online Its First Offshore Wind Project

Sep 15, 2020

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…

SBM Offshore in Talks with Petrobras Over Buzios FPSO Charter

Sep 15, 2020

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 7 Orders JDR Umbilicals for IOG's Elgood Field

Sep 15, 2020

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…

Premier Oil: Tolmount Jacket, Topside Set Sail (VIDEO)

Sep 15, 2020

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…

Suriname: After Three Discoveries, Apache Spuds Fourth Offshore Well

Sep 15, 2020

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…

Ithaca Energy Awards Petrofac a 5-Year North Sea Services Contract

Sep 15, 2020

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…

Shell Working to Turn Around Troubled Australian Operations

Sep 15, 2020

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…

Mermaid Exits Offshore Drilling Venture with Seadrill

Sep 15, 2020

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…

Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf

Sep 14, 2020

Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.The hurricane…

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