Oil prices fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent hitting its lowest in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further.Brent crude…
What will COVID-19 mean for the offshore wind industry? An industry not yet spinning on its own.Epitomized by the roller coaster ride that defined the stock market over the last few weeks, unpredictability has emerged as one of the few certainties of the coronavirus disease 2019 (COVID-19) crisis…
NaiKun Wind Energy company has entered into an agreement to sell the NaiKun Offshore Wind Farm - a project in early stages of development - located in the Hecate Strait off the coast of British Columbia, Canada to Northland Power.NaiKun said Monday that Northland…
U.S. offshore installation and construction company McDermott has been awarded a pre-FEED contract for a floating production unit that will be installed at BHP's Trion deepwater oil field offshore Mexico.McDermott said the contract was a sizeable one…
UK oil firm Siccar Point Energy is, with its partner Shell, delaying the planned sanction for the Cambo offshore project to 2021.Siccar, the operator of the project, blamed the decision on 'the unprecedented worldwide macroeconomic dislocation resulting from Covid-19…
Norway is offering oil firms 36 offshore exploration blocks in this year's licensing round in mature areas and for the first time in a decade did not offer any blocks in the Barents Sea.All the blocks are offered in the western part of the Norwegian Sea…
Nigeria's petroleum regulator has ordered oil and gas companies to reduce their offshore workforce and move to 28-day staff rotations as part of measures to curb the spread of the coronavirus, according to a circular seen by Reuters.The restrictions…
Wind industry solutions provider FairWind has completed its largest electrical and high voltage project in company history, completing 59 transition pieces (TP’s) for client Bladt.The TP segments were assembled in Aalborg harbor in Denmark, to be installed at Borssele 1+2 offshore wind farm…
Equinor will leave industry lobby group the Independent Petroleum Association of America (IPAA) over a disagreement about climate policy, the energy producer said on Friday.The Norwegian company is undertaking a review of its memberships of…
Australia will need to import liquefied natural gas (LNG) by 2024 for its southern states to avoid shortfalls unless more gas fields are developed locally and pipelines are expanded, the country's energy market operator said on Friday.Despite…
Singaporean offshore services provider Kim Heng Marine & Oilfield Pte has entered into a joint venture with a Taiwanese company to create Bridgewater Marine (Taiwan) Limited.Kim Heng Offshore & Marine, a parent company of Kim Heng Marine & Oilfield…
Singapore-based drilling contractor KS Drilling has seen its offshore rig contract cancelled, and has been slapped by a $23,5 million claim after its drilling rig in February was involved in an incident offshore Indonesia.The Java Star jack…
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…
The discount on front-month Brent crude oil futures to later contracts increased to an 11 year high on Thursday, as the coronavirus pandemic continued to cause an unprecedented slump in global demand. The spread on the May to November contracts had widened to as much as minus $10…
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