Oil prices fell for the third session on Wednesday with U.S. crude futures tumbling to a 17-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand.U.S. crude was down $1.49 cents, or 5.53%…
More than 200 oilfield services companies might be forced to declare bankruptcy - most of them in Norway and the UK - due to the effects of the Covid-19 pandemic and its effect on oil prices.This is according to Norway-based energy intelligence firm Rystad Energy…
The Trump administration on Wednesday will hold a major sale of oil and gas leases in federal waters, testing drillers' appetite for investment amid a steep slide in oil prices that has cast doubt over energy projects around the globe. The more than 78 million-acre (31…
Oil and gas company BW Energy, with assets in Gabon and Brazil, has decided to cut down its planned Gabon investments by 50 percent, citing coronavirus outbreak, oil price uncertainty, and restriction on international travel.'The impact of international…
FPSO leasing specialist BW Offshore has signed a five-year contract for the lease and operation of the BW Pioneer FPSO on the Cascade and Chinook fields in the U.S. Gulf of Mexico.The contract was signed with MP Gulf of Mexico, am 80/20 partnership with Murphy Oil and Petrobras…
The recent collapse in oil prices could chop $300 million to $600 million off 2020 exploration budgets in Brazil, which has emerged as one of the world's hottest offshore oil plays, specialists at consultancy Wood Mackenzie told Reuters.Before…
MOL Norge, a subsidiary of Hungary's MOL, has discovered oil and gas in its production license 820s, at Evra and Iving prospect in the North Sea, offshore Norway.The company said Wednesday it was in the process of completing the drilling of exploration well 25/8-19 S and sidetrack 25/8-19 A…
Subsea marine robotics company Stinger Technology has won a subsea drone research and development contract with oil firm Neptune Energy.Under the contract, Stinger Technology will work on the development, qualification and field trials of autonomous inspection/ intervention subsea drones…
Offshore drilling company Seadrill was involved in an incident last weekend involving the unintentional disconnection of the lower marine riser package (LMRP) on its West Mira semi-submersible drilling rig. Also, a certain amount of oil-based drilling fluid was discharged into the sea…
Norwegian oil and gas company Equinor is set to form what it described as a 'temporary corporate project' aimed at dealing with the effects of the coronavirus and the low oil prices.'The Coronavirus, measures to limit the spread and the significant…
Dutch offshore equipment and service supplier KenzFigee has established a UK subsidiary KenzFigee (UK) Ltd. citing increasing demand for its services, and the need to position its services closer to its UK clients.'Following a growing demand…
Colombia's majority state-owned oil company Ecopetrol has cut its planned investment for 2020 by $1.2 billion amid the outbreak of the novel coronavirus and an increase in global crude supply, the company said Tuesday.The oil and gas company now sees its 2020 investment at between $3…
U.S. oil company Hess Corporation has cut its capital and exploratory program in response to the sharp drop in oil prices, affecting both onshore and offshore drilling programs. The company said Tuesday it would reduce its capex to $2.2B from previously proposed $3 billion…
Offshore wind farm developer Northland Power has decided to give up on the Demonstrator Project - the installation of two turbines using mono bucket foundations - at its Deutsche Bucht wind project in the North Sea.The company in February said…
Malaysian FPSO leasing company Yinson has signed a longer-term charter deal for the provision of the FPSO PTSC Lam Son to Vietnam's PTSC AP.After several short-term extensions, Yinson's Vietnam JV PTSC AP has signed a charter deal for the FPSO…