Benchmark Brent crude oil futures rose as high as $33.05 a barrel on Friday on rising hopes of a new global deal to cut global crude supply.Brent crude futures were up 9.3%, or $2.79, at $32.73 a barrel by 1014 GMT. Brent soared as much as 47%…
Mediterranean Sea-focused oil and gas company Energean Oil and Gas has informed that its Energean Power FPSO Hull sailed away from the COSCO yard in China on Friday, April 3, 2020.The hull will now be towed to the Sembcorp Marine Admiralty Yard in Singapore…
Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil…
Inmarsat has formalized a 50% discount for crew voice calling services available for up to 40,000 ships in response to the COVID-19 pandemic and its impact on seafarer well-being.The maritime satellite service provider is also ensuring that…
The 2020 Offshore Technology Conference (OTC) has been canceled due to the coronavirus pandemic.'While OTC’s purpose is to provide an opportunity for those in the offshore petroleum industry from around the world to meet and share knowledge…
Australian offshore oil and gas safety regulator NOPSEMA has approved Woodside's offshore project proposal (OPP) from for the development of the Scarborough gas fields off northern Western Australia.The OPP is the primary Commonwealth environmental…
Britain's largest energy supplier Centrica canceled its 2019 dividend and cut costs in anticipation of an increase in nonpayments by customers and a drop in demand due to the COVID-19 outbreak, sending its shares to record lows.The government…
Oilfield services provider Petrofac is launching a redundancy programme that it expects will end up reducing staff numbers by 20% as it seeks to cope with plunging oil prices, according to a source and an internal email seen by Reuters.The Britain-based company…
Swedish utility Vattenfall will not take part in a Dutch tender for a 700 megawatt (MW) offshore wind farm in the North Sea because of the uncertainty created by the coronavirus pandemic, the state-owned firm said on Thursday.Vattenfall won…
U.S. oil company Apache has said it has made a significant oil discovery at the Sapakara West-1 well drilled offshore Suriname on Block 58. This is the company's second large oil discovery in the country this year. The first was struck in January…
UK oil and gas industry regulator Oil and gas Authority (OGA) has informed that Andy Samuel will remain its CEO for an additional period of two years.Samuel's term extension at the helm of OGA has been confirmed by the Secretary of State for Business…
China National Offshore Oil Corp (CNOOC) has signed an agreement with newly launched PipeChina on transferring management rights for oil and gas infrastructure projects, the company said in a statement on Wednesday.The statement did not give details on what projects have been handed over…
RWE, Europe's third-largest renewables group, is partnering with Taiwan's Asia Cement Corp to enter one of the strongest-growing offshore wind markets outside Europe, its renewable arm said on Thursday.The partnership is for the Chu Feng offshore wind project…
Britain's oil and gas industry body OGUK has asked the government to adapt the financial aid schemes offered in the wake of the coronavirus crisis so as to cover dozens of oil service companies which would otherwise not qualify.OGUK called on the government last month to help it survive…
U.S.-based offshore vessel owner Hornbeck Offshore Services announced it will file chapter 11 after defaulting on payment obligations.The New York-listed company said in an SEC filing that it has reached an agreement with lenders and holders of the company’s unsecured 5…