Italian energy group Eni will cut its capital spending by a quarter this year, and more next, as it moves to mitigate the impact from falling commodity prices because of the coronavirus emergency.In a statement on Wednesday, the state-controlled…
Norwegian offshore survey company has announced severe cost-cutting measures that will lead to termination of most employees and consultants and cold stacking of vessels.EMGS recently lost what was expected to be a long-term contract with Pemex in Mexico…
Norway's Equinor has restarted work at its Martin Linge development in the North Sea following a haltafter an offshore worker tested positive for coronavirus, the company said on Thursday.'We are gradually stepping up activities again. We have cleaned and disinfected facilities…
Woodside Petroleum halved its forecast spending for 2020 and deferred go-ahead decisions for its two biggest gas projects to ride out the pain of the coronavirus pandemic and plunging oil prices.Australia's top independent gas producer said…
ConocoPhillips Australia is nearing completion of the previously proposed acquisition of majority interest in the offshore Tasmanian Permit T/49P from 3D Oil.First announced in December 2019, the deal entailed ConocoPhillips acquiring a 75 percent stake…
Brazilian oil company Petrobras on Thursday said it was dialing back short-term production, delaying a dividend payment and trimming its 2020 investment plan, among other measures aimed at reducing costs in the face of the coronavirus pandemic…
Gas giant Gazprom said on Thursday 20 workers have been quarantined at Bovanenkovo gas field, which feeds the Nord Stream pipeline and is a key source of Russian gas supplies to Europe, after contact with a person who has coronavirus.The outbreak…
Vaalco Energy has said it has completed the South East Etame 4H development well offshore Gabon, including approximately 750 feet of horizontal section in the Gamba reservoir.The company said Thursday it had brought the South East Etame 4H well onto production on March 21…
Oil prices fell on Thursday, ending three sessions of gains, as movement restrictions worldwide to contain the coronavirus destroyed demand and overshadowed expectations that a U.S. $2 trillion emergency stimulus will bolster economic activity…
Norwegian energy intelligence firm Rystad Energy expects that majority of Africa’s top planned oil and gas projects that were expecting final investment decisions under an oil price assumption of between $55 and $60 per barrel will be hit hard by the current oil prices and coronavirus impact…
Marine seismic survey company Axxis Geo Solutions has said a client has canceled a contract for work in the North Sea.Axxis Geo Solutions, specializing in Ocean Bottom Node surveys, said the cancellation was 'on a small contract in the North…
The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals.International crude…
An offshore drilling rig worker, employed on a Maersk Drilling rig in Australia, tested positive to coronavirus after going to overseas home, oil and gas company Inpex has informed.'On 22 March we became aware that a person who recently worked…
China's national offshore energy producer CNOOC Ltd reported a 15.9% rise in 2019 profit on Wednesday, its best performance in five years thanks to higher oil and gas output and persistent cost control.CNOOC, one of the industry's lowest-cost explorers and producers…
Nigerian oil company Lekoil has said it is in the process of paying $2 million to Optimum Petroleum, its partner in an offshore block in Nigeria.The 2 million payment was agreed in January, and it is the first of two installments Lekoil is due…
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