Azerbaijan plans to increase natural gas production this year, but slightly lower oil production due to the level of existing reserves, the vice president of state energy company SOCAR said in an interview. Yashar Latifov told Reuters the country planned to produce 38…
Thai offshore service provider Mermaid Maritime is eyeing an expansion into the UK North Sea sector.The company said Sunday it had set up an indirect subsidiary Mermaid Subsea Services (UK) Limited on February 7.The MSS UK is owned by Mermaid's subsidiary Mermaid Subsea Services (Thailand)…
Italian oil firm Eni has signed an agreement with tanker operator Knutsen NYK Offshore Tankers (KNOT) to charter two newbuild shuttle tankers.Shuttle tankers are used to offload oil from offshore platformsSouth Korea's Daewoo Shipbuilding & Marine Engineering will build the two 124…
Oil prices slipped on Friday as Russia said it would need more time before committing to output cuts along with OPEC and other producers amid falling demand for crude as China battles the coronavirus epidemic. Brent crude futures fell 49 cents…
Dutch offshore survey company Fugro has started a site survey over oil company i3 Energy's UK North Sea licenses, ahead of the planned drilling campaign later this year.North Sea-focused oil company i3 said Friday that Fugro had started the…
Norwegian offshore vessel builder Havyard will outsource the construction of the Atlantic Harrier platform supply vessel to its compatriot yard Kleven, as delays with other projects have put a strain on Havyard’s Leirvik facility.The platform supplier was first ordered by Fafnir Offshore in 2014…
Aker Solutions will likely see a 14% drop in revenue in 2020, reversing the gains made last year, the company said while reporting a decline in fourth-quarter earnings on Friday.Earnings before interest, tax, depreciation and amortization (EBITDA)…
Austrian energy group OMV on Thursday indicated it could be interested in increasing the stake in a Romanian offshore gas project that it currently holds with U.S. firm Exxon Mobil.The exploration of the Black Sea Neptun block is a joint venture between OMV's Romanian subsidiary Petrom and the U…
UK (and Norwegian) taxpayers are largely footing Equinor’s wind-energy success by helping the offshore oil, gas and renewables player operate a healthy profit and hand out dividends, Norwegian news reports have been trumpeting of late.It was Stavanger Aftenblad…
Italian oilfield services firm Saipem reports it has been awarded several engineering, procurement, construction and installation (EPCI) contracts in various countries worth over $500 million combined.The first EPCI contract has been awarded…
UK North Sea-focused Hurricane Energy saw its share price drop on Thursday morning after the company's scrapped plans to tie-back the Lincoln Crestal offshore well to the Aoka Mizu FPSO this summer.The company had drilled the Lincoln Crestal…
BP said on Thursday that oil output at its projects in Azerbaijan declined slightly last year to 535,000 barrels per day (bpd) or 26 million tonnes for the whole of the year. That was down from 584,000 bpd, or 29 million tonnes, in 2018. Associated…
Equinor joined other major European oil and gas companies on Thursday by including emissions from the fuel it sells to customers in its carbon reduction targets as investors step up the pressure on fossil fuel producers. By including so-called…
Offshore accommodation provider Prosafe has forecast a tougher year ahead, compared to 2019, expecting a drop in flotel rig fleet utilization and day rates falling.The company on Thursday reported a quarterly net loss of $13.3 million (compared to a loss of 35…
Oilfield services company John Wood Group, recently rebranded to Wood, has sold its industrial services business to Kaefer.London-listed Wood said the sale of the part of the business which provides integrity and fabric maintenance for assets…
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