Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, BlackRock, the world's largest asset manager, said on Tuesday.Oil and gas giants such as Royal Dutch Shell…
General Electric Co is selling a portion of its stake in oilfield services provider Baker Hughes, the U.S. industrial conglomerate said on Tuesday, its latest move to raise cash and repay debt.GE, which bought Baker Hughes in July 2017, has…
Australia-based Cooper Energy says testing of the newly installed Sole pipeline in the eastern Gippsland basin offshore Victoria, southeast Australia has revealed localized damage.'Laying of the 65 km pipeline to link the recently completed…
Norway's Havila Shipping has entered into a charter contract with Equinor UK for the platform supply vessel (PSV) Havila Borg.The offshore service vessel (OSV) operator said in a press release that the contract was for approximately four months for the Havila Borg…
The state-owned energy giants of Saudi Arabia and the United Arab Emirates, Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), signed a cooperation deal to explore potential areas for mutual collaboration in the LNG value chain aimed at bolstering gas production and revenue…
Norwegian offshore service and supply ship shipping company Solstad Offshore has entered into a contract for the CSV Normand Pioneer (1999, CSV, 286t BP) with Queiroz Galvão Exploração e Produção S.A in Brazil.The contract has a duration of…
Halliburton Company said that Lance Loeffler, previously vice president of Investor Relations, has been promoted to Chief Financial Officer.Loeffler will lead the company’s financial functions, including financial planning and analysis, accounting and financial reporting…
Southeast Asia focused upstream oil and gas company KrisEnergy announced on Monday that the Mist jack-up rig has begun drilling the Montha-1 exploration well in the G10/48 contract area in the Gulf of Thailand.The well, located approximately…
Norwegian offshore consultancy Ridge has appointed Ole Jacob Sandal as subsurface manager, effective November 1, 2018.Sandal possesses extensive international and North Sea experience gained over 20 years in the oil and gas business, with roles ranging from exploration…
Sing Da Marine Structure Corporation (SDMS) has been awarded a multimillion dollar contract to construct the jacket foundations for Ørsted’s 900MW Greater Changhua offshore wind project off Taiwan.During 2020 and 2021 SDMS will supply 56 jacket…
Norwegian offshore shipping company GC Rieber Shipping announced acting chief executive officer Einar Ytredal has appointed to the CEO role on a permanent basis. At the same time, Øystein Kvåle was named new chief financial officer (CFO) and…
U.S. President Donald Trump on Monday said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting oil supply next year, citing softening demand.'Hopefully, Saudi Arabia and OPEC will not be cutting oil production…
Venezuela is hoping to steeply raise oil output next year but will respect any new deal if OPEC agrees to reduce output from December, Oil Minister Manuel Quevedo said on Sunday.The south American OPEC nation's current oil output is 1.5 million…
IKM Subsea said it has been selected to provide remotely operated underwater vehicle (ROV) services as part of AKOFS Offshore's five + three year light well intervention (LWI) services contract on the Norwegian continental shelf (NCS) from Equinor…
Energy firms could save an annual $73 billion within five years in oil and gas exploration and production by making better use of existing computing technology, energy consultancy Wood Mackenzie said.Exploration and production, known as the upstream industry…
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