Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July and as China's crude imports hit an all-time high in May.Brent crude was up 51 cents, or 1.2%, at $42.81 per barrel, by 0628 GMT, while U…
Tropical Storm Cristobal on Saturday dumped rain from Louisiana to the Florida peninsula as it moved through the U.S. Gulf of Mexico, prompting evacuations of several southeast Louisiana towns and dozens of offshore oil platforms.Cristobal, packing winds of 50 miles per hour (85 km)…
OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market…
Oil and gas producers operating in the U.S. Gulf of Mexico have pared 33% of offshore oil and 31% of natural gas output ahead of Tropical Storm Cristobal, offshore regulator Bureau of Safety and Environmental Enforcement (BSEE) said on Saturday…
U.S. offshore vessel provider Seacor Marine will buy the remaining 50% stake in Seacosco from China's Cosco.Seacor will pay $28.15 million in installments, and the transaction is expected to close in June 2020.With the acquisition, Seacor will…
Norway's Kongsberg Maritime has signed its first contract for its ROV launch & recovery system (LARS) specifically designed to handle remotely operated vehicles (ROVs) from unmanned vessels.The contract has been signed with Ocean Infinity, who…
Dutch offshore survey company Fugro has moved two vessels off the coast of New York to perform a large-scale site characterization program for Sunrise Wind offshore wind project.The project is being developed by Denmark's offshore wind developer Ørsted…
As oil and gas companies began shutting offshore production before the first tropical storm of the season in the U.S. Gulf of Mexico, experts said restarting wells and refineries will take longer and prove more costly this year because of COVID-19…
Groton, Conn.-based autonomous maritime security solutions company ThayerMahan, Inc. announced it has executed a cooperative partnering agreement with marine geophysical surveying, data analysis and reporting firm Geo SubSea, LLC.ThayerMahan CEO Mike Connor stated…
BP Plc began turning off production at three platforms in the northern Gulf of Mexico and evacuating workers because of the threat from Tropical Storm Cristobal, forecast to make landfall in Louisiana over the weekend, the company said.Norwegian…
Norwegian energy company Equinor has officially named its wind project off the coast of New England, USA. The name is Beacon Wind.'Beacon conveys a sense of hope and guidance, qualities that we value very highly at Equinor, especially now,” said Siri Espedal Kindem…
U.S. oil companies are monitoring the first tropical storm of the 2020 Atlantic hurricane season to threaten the offshore oil patch in the U.S.-regulated northern Gulf of Mexico.Royal Dutch Shell Plc, BP Plc, Chevron Corp , Exxon Mobil Corp…
Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later this week.Brent crude futures rose 0.91%, or 35 cents, to $38.67 a barrel as of 0427 GMT…
Seadrill announced a writedown of $1.2 billion on the value of its oil drilling rigs on Tuesday and warned it may have to convert part of its $7.4 billion in debt into equity to survive.'Until such time that an agreement is reached to restructure our borrowing commitments…
A fire broke out on Saturday aboard Suncor Energy-operated Terra Nova FPSO offshore Canada, the offshore oil and gas regulator C-NLOPB said.Suncor told C-NLOPB that everyone onboard was accounted for and safe, and that the fire had been extinguished…