Brazil's oil and gas regulator ANP on Wednesday approved the temporary suspension of the 17th round of auction bids for exploration and production rights planned for this year due to the coronavirus health crisis.In a press release, the ANP…
Several workers on a BP Plc oil platform in the U.S. Gulf of Mexico have tested positive for coronavirus, the company said on Wednesday, a day after a worker at BP's operations in Alaska also tested positive.The cases are the first recorded among oil workers in the Gulf of Mexico and Alaska…
Ghana's President Nana Akufo-Addo in February said he expected Norwegian oil firm Aker Energy to make a final investment decision on the Pecan offshore development 'within a month or two.' The wait is now set to be prolonged 'indefinitely.'Namely…
Norwegian offshore engineering and construction company Aker Solutions laid off 400 employees in Norway and 250 employees in the UK, as per April 1, and it might need to lay off up to 6000 employees in Norway. The company has said the layoffs are temporary…
UK North Sea-focused oil company Repsol Sinopec Resources UK Limited has appointed Jose Luis Muñoz as its Chief Executive Officer, effective April 1, 2020.Muñoz replaces Bill Dunnett, who had been in the CEO since 2015. Repsol Sinopec said Dunnett…
Offshore wind farms in the Belgium North Sea had a record winter when it comes to electricity production.According to the Belgian Offshore Platform, during the Nov 2019 – March 2020 winter period, offshore wind farms in Belgium produced 60% more electricity compared to the 2019 winter…
BP on Wednesday cut its 2020 spending plans by 25% and will reduce output from its U.S. shale oil and gas business in the face of the collapse in oil prices triggered by the coronavirus outbreak.BP and other big oil and gas companies are having…
Canada-based Northland Power has informed that its 252 megawatt (MW) Deutsche Bucht offshore wind project in Germany has achieved full completion.The offshore wind project is located in the North Sea, more than 100 kilometers from the mainland…
China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in March applications from its companies to waive import tariffs on U…
Guyana and Namibia focused oil and gas company Eco Atlantic has said that its board and management have agreed to voluntary pay cuts of up to 40 percent, in the wake of the situation with the coronavirus and the low oil prices.The company has…
Marine energy developer Minesto has said it been granted all necessary permits and consents for the installation of two grid-connected tidal kite systems in Vestmannasund, Faroe Islands.The granted permits and consents cover two DG100 tidal…
Vietnam Oil and Gas Group is cutting employee salaries to rein in costs as it grapples with low oil prices and a coronavirus pandemic that has infected 212 people in the southeast Asian nation, the company said on Wednesday.The move was part of efforts to cut costs by 15% to 30%…
Norway's oil production remains profitable despite the recent plunge in prices and it does not plan to shut output, the country's Minister of Petroleum and Energy said on Tuesday.The price of North Sea Brent crude fell to its lowest level in…
Dutch offshore equipment manufacturer Huisman has signed a contract with PaxOcean Engineering for the delivery of a 1,600mt Leg Encircling Crane. The crane will be installed on the new self-elevated platform (SEP) of Japanese company Penta-Ocean Construction…
Private equity-backed gas producer Neptune Energy plans to cut its budget for development projects by around $300 million this year and will not pay a cash dividend to its owners Carlyle and CVC Capital Partners, it said on Tuesday.Following the collapse in oil prices…