Turkey said on Monday that its Oruc Reis exploration vessel will carry out seismic surveys in a disputed area of the eastern Mediterranean until Sept. 12, provoking an angry response from neighboring Greece.Turkey and Greece, NATO allies, vehemently…
The European Union's executive called on Monday for dialogue with Turkey and demanded that Ankara refrains from unilateral steps that stoke tensions in eastern Mediterranean.Should dialogue not bear fruit, a spokesman for the European Commission told a briefing on Monday…
NATO is looking at ways to avoid accidental clashes in the Eastern Mediterranean while supporting German diplomatic efforts to defuse the worsening dispute over energy resources there, the alliance’s chief said on Thursday.NATO Secretary-General…
Brazilian prosecutors pressed charges on Friday against two people for an alleged scheme to obtain confidential market information from Petrobras to benefit A.P. Moller-Maersk, the world's largest shipping company.The case stems from an investigation…
Wintershall Dea, one of five western partners in the Nord Stream 2 gas pipeline project led by Russia's Gazprom, rejects sanctions planned by the United States to discourage its completion, chief executive Mario Mehren said on Wednesday.'We…
A Greek and a Turkish warship were involved in a mini-collision on Wednesday during a standoff in the eastern Mediterranean, a Greek defense source said, describing it as an 'accident'.Tensions have risen this week after Turkey sent a survey vessel to the region…
Guyana on Tuesday asked the World Court to confirm the demarcation of its land border with Venezuela, part of a long-running dispute between the South American neighbours with potential implications for offshore oil rights.Representatives of Guyana asked judges at the United Nations court…
Greece and Italy will sign an agreement on maritime boundaries during a visit by Italy's foreign minister to Athens on Tuesday, the Greek Foreign Affairs Ministry said.The deal follows months of tensions in the Eastern Mediterranean region over natural resources…
Singapore's offshore rig builder Keppel is considering taking legal action against Awilco Drilling after the drilling company on Monday said it had terminated a rig construction contract with Keppel.Awilco Drilling said Monday that its subsidiary…
The U.S. Department of Interior has proposed allowing oil and gas companies to delay royalty payments due to the impacts of the new coronavirus pandemic.According to the web site of the White House Office of Management and Budget, Interior's…
Hornbeck Offshore Services has filed for chapter 11 to implement a prepackaged reorganization plan, according to a court filing in the U.S. Bankruptcy Court in Houston.The U.S.-based offshore vessel owner with more than $1 billion in long-term…
These days history seems to be in the making on a daily basis. On April 20, 2020, the price of the NYMEX West Texas Intermediate Sweet Crude Oil (WTI) futures contract for May delivery plunged into the negative, forcing sellers to actually pay…
Bankrupt Diamond Offshore Drilling Inc has sued Australian oil and gas producer Beach Energy Ltd for abruptly terminating a $65 million drilling contract.Beach Energy ended the agreement, claiming Diamond Offshore missed a 'contractual milestone to deliver the rig'…
Offshore oil driller Valaris PLC is preparing to start talks with creditors to see if they can agree on terms for a possible bankruptcy filing, as it grapples with a $6.5 billion debt burden and an unprecedented plunge in U.S. crude prices, people familiar with the matter said on Tuesday…
Golar LNG Ltd said on Tuesday that it received a force majeure notice from a BP Plc unit seeking to delay taking delivery of a floating liquefied natural gas facility by a year.The notice is the latest force majeure claim issued in the LNG sector…
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