Industry News

 

Kosmos Energy Posts 4Q Loss. Names CFO

Feb 24, 2020

London-listed Kosmos Energy reported a net loss of $35,7 million for the fourth quarter of 2019. Total revenues and other income for the quarter were $462,5 million.For comparison Kosmos Energy's 4Q 2018 profit was $185,5 million, on $309,5 million revenues…

ADM Increases Aje Field Stake

Feb 24, 2020

ADM Energy, an AIM-quoted oil and gas investing company formerly known as MX Oil, will increase its interest in the offshore block in Nigeria containing the Aje oil field.ADM said Monday it had agreed with EER, a partner in the block to acquire a participating interest of 2…

Aker BP Gets Skogul Start-Up Nod

Feb 24, 2020

Norwegian oil company Aker BP has received regulatory consent for the start-up of the Skogul field in the North Sea, offshore Norway.The Norwegian Petroleum Directorate granted its consent for the of the field in production license 460 on Monday…

Harvey Gulf Eyes International Markets

Feb 21, 2020

Offshore marine transportation firm Harvey Gulf International Marine says it has been able to achieve success in the turbulent offshore market by constantly reinvented itself to fit the industry demands.Never afraid to shake things up, Harvey…

Oil Retreats in Face of Renewed Coronavirus Uncertainty

Feb 21, 2020

Oil prices fell on Friday as weak Asian data and a rise in new coronavirus cases fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.Brent crude was down $1.56, or 2.6%, at $57…

SembMarine's Former Consultant in Brazil Gets 19 Years in Prison

Feb 21, 2020

Singapore-based offshore rig builder Sembcorp Marine has said that its former consultant in Brazil has been sentenced to 19 years and four months in prison.SembMarine said Friday that Guilherme Esteves de Jesus (“GDJ”), had been convicted by…

Petrobras Expects Dip in Oil Exports on Offshore Maintenance Works

Feb 21, 2020

Oil exports by Brazilian state-run Petrobras should fall slightly in the first quarter, thanks to scheduled maintenance stoppages at offshore platforms, executives said on Thursday.On a conference call to discuss the firm's fourth-quarter results…

Tanjung Offshore to Deliver Offshore Platform for Petronas

Feb 21, 2020

Malaysian oil company Petronas Carigali has contracted Tanjung Offshore Services for the delivery of a mobile offshore production unit.Tanjung Offshore Services has won a contract with a consortium Partner VME Process Systems Malaysia. The contract is for the provision of leasing…

Valaris Posts $216M Loss. Expects More Losses in 2020

Feb 21, 2020

Offshore drilling company Valaris on Thursday posted a net loss of $216 million for the fourth quarter of 2019, compared to a loss of $197 million in the third quarter of 2019. According to its CEO, more losses are to be expected in 2020.Valaris' fourth-quarter revenues fell to $512 million…

Worley Bags Mozambique LNG Work with Total

Feb 21, 2020

French oil company Total has awarded oilfield services firm Worley two master service agreements (MSAs) for services at the Mozambique LNG Project.The Mozambique LNG project, previously operated by Anadarko, will be Mozambique’s first onshore LNG development…

Aker Energy, Yinson Sign Pecan FPSO LoI

Feb 21, 2020

Norwegian oil and gas company Aker Energy has signed a letter of intent with Malaysian FPSO provider for the delivery of an FPSO for Aker Energy's Pecan oil field offshore Ghana.Subject to a firm contract signing, Yinson will get the deal for…

Norway: Oil industry 2020 Spending Set to Rise

Feb 20, 2020

Norwegian oil and gas investments, the key driver of the country's economy, will rise more than previously expected this year before declining in 2021, an industry survey by the national statistics agency (SSB) showed on Thursday.The survey is closely watched by Norway's central bank…

Shell Orders Deep Down Equipment for Whale Development

Feb 20, 2020

Deep Down, a U.S.-based subsea oil and gas equipment supplier, has received an order from Shell for a delivery related to Shell's Whale development in the U.S. Gulf of Mexico.Under the contract with Shell, Deep Down will design, engineer and…

Leadership Change at Noble Corp

Feb 20, 2020

Offshore drilling company Noble Corp. has announced that Julie J. Robertson will resign as President and Chief Executive Officer of the company at the next annual general meeting. She will take on the newly created role of executive Chairman of the Company's Board of Directors…

Repsol's Loss Widens on Low Prices, Writedowns

Feb 20, 2020

Spain's Repsol on Thursday reported a 36% fall in adjusted net profit and a net loss for the fourth quarter of 2019, battered on all sides by lower oil and gas prices and one-off charges mainly related to a bid to cut carbon emissions. Oil majors…

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