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…
Singaporean conglomerate Keppel Corp reported a loss in the first half of 2020 due to impairments in its offshore and marine business that has been battered by low global oil prices.Keppel posted a net loss of S$537 million ($390 million) for the six months to June…
Temasek Holding's $3 billion bid to acquire a controlling stake in Keppel Corp will be under scrutiny on Thursday as a big quarterly profit drop at the conglomerate could raise the risk of the state investor dropping its proposal, analysts said…
Malaysian oil and gas company Petronas Carigali will use Honeywell UOP modular natural gas processing technology at the Kasawari gas field offshore Sarawak, Malaysia.Honeywell UOP said Petronas would use its technology in the development of…
LR has appointed Mike Holliday as Marine & Offshore president for South Asia, the Middle East, and Africa (SAMEA).In his new role, Holliday will lead LR’s Marine and Offshore operations across SAMEA, primarily based in Singapore, and be responsible…
UK-based energy consultancy Xodus Group has partnered up Japanese consultancy E&E Solutions to deliver advice and analysis for the developing offshore wind market in Japan.E&E Solutions has the local market knowledge, including an extensive…
Italian oil and gas company Eni announces an exploration well has confirmed 'a significant hydrocarbon accumulation' on the Ken Bau discovery offshore Vietnam, further expanding its potential.The exploration well Ken Bau-2X, located in Block 114…
Sparrows Group has secured a three-year contract renewal to supply a rental crane to Vedanta Resources Limited, extending its relationship with the company to nine years.A Sparrows manufactured ECR-20 crane will be mobilized to the Lakshmi and Gauri oil and gas fields of Cairn Oil & Gas…
China took a major step in the reform of its national oil and gas pipeline network, with newly formed PipeChina agreeing to buy pipelines and storage facilities valued at 391.4 billion yuan ($55.9 billion).Under the deal, PipeChina, known formally as China Oil and Gas Pipeline Network…
South Korea's SK Innovation has taken over operatorship over the Block 16-2 offshore Vietnam.PetroVietnam Exploration Production Corporation (PVEP) said Thursday that the signing ceremony had been held in Hanoi on Tuesday, July 21.The offshore…
BBC Onyx multipurpose heavy-lifter has arrived in Taiwan carrying the first batch of foundation components for the Formosa 2 offshore wind farm.'Formosa 2 offshore wind farm loaded-in the first set of foundation components, including pin piles…
Subsea technology and services company, Cortez Subsea has reported it has completed the first-ever subsea pipeline using NOV's Zap-Lok mechanical connector, offshore Malaysia.The company says the technology enables faster and cheaper completion of subsea pipelay…
Danish wind turbine supplier Vestas has secured a 50 MW order in Vietnam with local EPC construction company, Bac Phuong JSC for the second phase of the Dong Hai 1 intertidal wind project. Vestas was also awarded the first phase of the project in December 2019…
Australia-listed Oil Search Ltd on Tuesday reported a near 30% drop in second-quarter revenue, hurt by a sharp decline in oil and gas prices as demand plunged due to the coronavirus pandemic.The Papua New Guinea-focused oil and gas explorer recorded a revenue of $266…
Malaysia's Perdana Petroleum has won a contract with Dayang Enterprise for the charter of and accommodation work barge and an anchor handling tug.Perdana said on Friday the contract had been awarded to its subsidiary Perdana Nautika.The contract value is estimated at RM6…