State oil giant Saudi Aramco's profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world's biggest oil exporter.But the company stuck with plans to pay $75…
Hedge funds' oil trading largely dried up last week as the normal summer holiday slowdown was compounded by an absence of price or fundamental signals about the future direction of the market.Hedge funds and other money managers purchased the…
Brazilian oil and gas company Petrobras has said it will mothball its Merluza platform (PMLZ-1) in shallow waters in the Santos Basin.'The platform’s production had already been interrupted since March 2020, with the abrupt drop of demand for natural gas…
Offshore services company Jan De Nul has signed a final contract to transport and install offshore wind turbines for what will be the world's largest offshore wind farm complex - the 3.6GW Dogger Bank in the UK.Jan De Nul will use its Voltaire jack-up vessel…
Brazilian oil company Petrobras has kicked off the binding phase for the sale of its entire stake in the Tartaruga field, in the shallow waters of the Sergipe-Alagoas Basin, offshore Brazil.Petrobras had late in June 2020 announced the intention…
Fugro has completed a contract for Nexans to provide remotely operated vehicle (ROV) survey and monitoring support services to lay the North Sea Link cable through a mountain and along a lakebed in Norway.National Grid NSN Link Ltd and Statnett…
The Deep Panuke production platform has been 'de-installed' from the namesake offshore gas field in Nova Scotia, Canada, and will be recycled.The jack-up production platform was delivered to the field back in 2011 by SBM Offshore as part of…
Norwegian offshore supply vessel owner Solstad offshore has secured several contract extensions with oil companies Total and Equinor in Brazil.France's Total has extended the contracts for the platform supply vessel Normand Swift and the AHTS vessel Far Sagaris until December 2020…
Seismic surveyor TGS's unsolicited cash offer of $600 million for part of rival PGS sent its shares up as much as 67% in early trading on Friday.TGS said its offer, announced late on Thursday, for PGS's so-called multi-client library would significantly…
The Blauwwind consortium has informed that its Borssele III/IV wind farm in the Dutch North Sea has achieved first power.The key milestone in the construction of the offshore wind project was achieved on Friday morning. The first turbine is…
Cairo-based African Export-Import Bank has committed $400 million in loans and guarantees to Mozambique's $20 billion liquefied natural gas (LNG) project, the multilateral lender said on Thursday.Afreximbank's move follows a similar commitment…
Dutch FPSO leasing company SBM Offshore has raised its EBIDTA guidance and maintained the revenue guidance for 2020, after 'successfully navigating' a challenging period caused by the pandemic. Still, it is preparing for shorter oil price cycles…
Malaysian offshore services provider Alam Maritim has this week secured work with the Spanish oil firm Repsol, and Malaysia's marginal fields development company Vestigo.First, Alam Maritim on Tuesday said it had won a five-year deal with Repsol in Malaysia for the provision of subsea inspection…
Chevron's entry into Israel's Leviathan natural gas field will help deliver the technical and marketing nous to turn the project into a global supplier, said the CEO of Delek Drilling, the energy giant's new regional partner.Chevron became the…
“The UK Continental Shelf has the potential to make a deep and meaningful impact on the UK’s overall net-zero target and offshore energy integration can be the game-changer,' Andy Samuel, CEO of the UK's Oil and Gas Authority said Thursday.Samuel's…
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