BP suspended its Alfa platform in Azerbaijan on Thursday for planned maintenance that will last for five days, it said in a statement.The oil major uses the Alfa platform to produce natural gas at the Shah Deniz gas field in the Caspian Sea…
Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil's collapse in April and May amid the coronavirus pandemic…
The Norwegian offshore oil and gas safety body PSA Norway has granted Equinor an approval to use the Maersk Intrepid jack-up at the Martin Linge offshore oil and gas field.The consent is for the use of the low-emissions rig for production drilling…
Offshore drilling contractor Pacific Drilling has lost a two-well contract for its Pacific Sharav drillship with Murphy Oil, but has managed to secure a ten-well deal with the same client, only at a later date.The drillship recently completed…
Wind turbine maker Siemens Gamesa expects the fallout of the COVID-19 pandemic will cut 1 billion euros ($1.2 billion) from its sales revenue in the full year, the German-Spanish manufacturer said on Thursday.The company said the impact will be harsher than previously expected…
Global oil demand might never return to levels seen before the outbreak of the COVID-19 epidemic, Royal Dutch Shell CEO Ben van Beurden said on Thursday.'Demand will take a long time to recover if it recovers at all,' van Beurden told reporters…
Royal Dutch Shell avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a pessimistic outlook for oil and gas prices.Shell had warned last…
North Sea oil and gas operator Spirit Energy has given its York offshore gas field a new lease of life with an additional £13million (USD 16.8 million) investment. With the investment, Spirit will extend the life of the Southern North Sea offshore gas field by three years…
Norwegian oil and gas company Equinor has obtained regulatory approval for exploration drilling in the production license 263 D, located in the Norwegian Sea.The Norwegian Petroleum Directorate said Wednesday it had granted a drilling permit…
UK-based offshore services company Petrofac has won a two-year contract with NEO Energy to provide Well Management and Well Operator support across NEO's North Sea fields.The deal will cover support for 25 production wells across NEO's Affleck…
Dutch offshore gangway specialist Ampelmann has won a contract with offshore vessel owner Olympic Shipping to support topside commissioning work on Ithaca Energy’s FPF-1 semi-submersible production platform in the UK North Sea.Ampelmann E-type gangway system…
Swedish oil firm Lundin Energy, a partner in Norway's giant Johan Sverdrup oilfield, reported worse-than-expected operating profit in the second quarter as the fall in prices due to the COVID-19 pandemic more than offset record output.Earnings before interest and tax (EBIT) fell to $166…
Danish offshore oil and gas drilling company Maersk Drilling is stepping up its efforts to reduce emissions associated with its drilling operations.It in June joined a consortium whose aim is to develop an offshore storage solution for CO2 captured in Danish onshore facilities…
Italian energy services group Saipem painted a gloomy outlook for the year after reporting a net loss of 616 million euros ($723 million) in the second quarter following writedowns.The company said the industry faced uncertain demand for oil and gas…
Oil and gas company Spirit Energy has ordered a POS-GRIP surface production wellhead system from Plexus Holdings.The order from Spirit Energy includes Plexus' POS-GRIP 5,000psi leak-proof 'HG' metal to metal sealing surface production wellhead…