Norwegian oil and gas company Equinor has completed drilling of the offshore exploration well Helleneset, formally known as well 30/6-31 S, without finding hydrocarbons.The well was using the West Hercules semi-submersible drilling rig drilled…
The Dutch government said on Thursday it is providing ailing shipbuilder Royal IHC with a lifeline of up to almost 400 million euros ($435 million), enabling the company's takeover by a consortium of marine companies and investors from Benelux countries…
Norway's minority government proposed on Thursday to temporarily change tax rules for oil firms in a bid to prevent a collapse in investments amid the COVID-19 pandemic, Prime Minister Erna Solberg said on Thursday.The plan could boost the liquidity…
Woodside Petroleum's final investment decision on the $11 billion Scarborough gas project will require stable oil prices and credit ratings, the company's CEO said on Thursday.The company in March deferred a final investment decision on the…
Norwegian seismic data acquisition company PGS has said it has completed the acquisition phase of its Painimaut 3D MultiClient program, offshore Papua New Guinea.Using its Ramform Hyperion seismic survey vessel, PGS has gathered over 6 100 sq…
Royal Dutch Shell cut its dividend for the first time since World War Two on Thursday as the energy company retrenched in the face of an unprecedented drop in oil demand due to the coronavirus pandemic.Shell also suspended the next tranche of…
Equinor Wind US, a U.S. offshore wind business of the Norwegian energy firm Equinor, has awarded a contract for geophysical survey services to MMT, in partnership with Reach Subsea.The contract covers high resolution geophysical, benthic surveys…
Seven platforms operated by Brazilian oil company Petrobras in the Campos basin have confirmed cases of the coronavirus among its staff, the FUP oil workers union said on Wednesday.The FUP will ask oil industry regulator ANP and health authorities to halt work on the platforms with the most cases…
Norway, Western Europe's largest oil producer, will slash its output from June to December of 2020, the oil and energy ministry said on Wednesday, the first time in 18 years it has joined other major producers to shore up prices.'We will cut Norwegian production by 250…
Aker Solutions expects its revenue to fall by 30% this year, driven down by the impact from the COVID-19 pandemic and the crash in oil prices, and plans to respond with further cost-cutting, the Norwegian oil services company said.'The depth and scale of the decline is still unclear…
Malaysia's largest oil and gas services company Sapura Energy said on Thursday it expects a delay in projects due to the historic rout in oil prices and as widespread coronavirus shutdowns hit demand.'Delays are inevitable,' Chief Executive Shahril Shamsuddin said in an earnings conference call…
A British court on Wednesday approved Premier Oil's plans to extend debt maturities by two years and raise up to $500 million in equity to buy North Sea assets from BP and others, but the deal depends on market conditions, Premier said.Activist hedge fund ARCM…
ScottishPower Renewables and Macquarie’s Green Investment Group (GIG) said Wednesday that all of the 102 offshore wind turbines were installed on the East Anglia ONE offshore windfarm.The installation began in June 2019, and now a total of 102 Siemens Gamesa SWT-7…
Keppel Offshore & Marine, an offshore construction subsidiary of Singapore's Keppel Corp, expects challenging conditions ahead due to the drop in oil prices but says its business diversification into gas and renewables has paid off.The company…
CNOOC Ltd on Wednesday lowered its 2020 oil and gas production and capital spending, China's state offshore oil and gas producer said.It cut its capital spending target by 10 billion yuan ($1.41 billion) to a range of 75-85 billion, CNOOC said…
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