Petrofac announced on Tuesday that its Engineering and Production Services (EPS) business has been awarded two operations and maintenance (O&M) contract extensions for long-standing clients worth a combined value of approximately $32 million…
Pemex's oil exports dropped by 11% in April compared to the previous month, while production slipped by 0.9%, data from the Mexican state oil firm showed on Friday.Exports of Maya crude, the only type Pemex has been selling abroad for almost a year…
Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday.Total capital expenditure in renewables will rise above $30 billion in the region by 2020…
Oil and gas companies working in Norway have hiked their 2019 and 2020 investment forecasts as they add more field development plans, a survey by the country's statistics agency (SSB) showed on Tuesday.Higher investment raises the prospect of further interest rate hikes by Norway's central bank…
Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum.It also quadrupled its debt - to $40 billion - at a time when investors are calling for spending cuts and higher dividends…
Brazil's Petroleo Brasileiro SA is nearing the sale of two oilfields in a process that could fetch around $1 billion and aid the state-run oil firm in its bid to reduce debt.Petrobras, as the company is known, has set a June 5 deadline to receive…
Whatever its investments in wind, Equinor on Monday received a much anticipated greenlight to drill for oil in a mature quadrant of the North Sea, where success with the drill bit could again change field economics for the giant Johan Sverdrup field — and other…
ACE Winches said it has been awarded two contracts from Subsea 7 to use the Scotland-based company's linear winch pull-in systems in the US Gulf of Mexico.ACE Winches did not reveal the exact contract values, but said each is worth more than £4 million ($5…
Shipbuilder Royal IHC has launched the fully integrated reel-lay vessel Seven Vega for subsea engineering, construction and services company Subsea 7.The ceremony took place at IHC’s shipyard in Krimpen aan den IJssel, The Netherlands, and was performed by Monica Th…
The Norwegian Petroleum Directorate (NPD) has granted Equinor Energy AS a drilling permit for the exploration well 16/5-7 in the North Sea, offshore Norway.The drilling program for 16/5-7 relates to the drilling of a wildcat well in production license 502…
German energy group Uniper has concluded an agreement with Australian fund First State Investments to divest its stake in OLT Offshore liquefied natural gas (LNG) Toscana.First State Investments will acquire Uniper’s entire OLT stake. The purchase price for Uniper’s stake amounts to approx…
Qatar Petroleum said it has awarded the front end engineering and design (FEED) contract for the North Field Expansion Project’s offshore pipelines and topsides facilities to McDermott Middle East Inc.The scope of work awarded includes engineering…
BP Trinidad and Tobago LLC has awarded Vroon Offshore Services Aberdeen a multiple year, multi-million pound contract.Vroon said on Monday that BP had hired three emergency rescue and response vessels (ERRVs) from its subsidiary, Vroon Offshore Services Aberdeen…
The deepwater drilling contractor Seadrill said that its contract backlog, as of May 23, 2019, totaled approximately $1.9 billion.The drilling services provider said it has added $130 million of additional backlog from March, including the AOD…
Malaysia's offshore oilfield services firm Bumi Armada announced that its first-quarter net profit jumped 28.5% on-year, mainly thanks to joint ventures, lower cost of sales, and lower distribution costs.Net profit for the January-March period climbed to 62…
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