Oil and gas company BW Energy, with assets in Gabon and Brazil, has decided to cut down its planned Gabon investments by 50 percent, citing coronavirus outbreak, oil price uncertainty, and restriction on international travel.'The impact of international…
Norwegian offshore suppliers on Monday endured a perfect storm of economic shockwaves after the oil price collapsed 30 percent over the weekend and sent oil stocks plummeting en masse in a way not seen for two decades.By around midday in Oslo…
Oil prices slid more than 4% on Friday after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices. Brent and WTI crude futures tumbled by nearly $3 a barrel, or more than 5%, after the report…
Brent slid to its biggest daily loss in more than 11 years on Friday after Russia balked at OPEC's proposed steep production cuts to stabilize prices hit by the economic fallout from the coronavirus, and OPEC responded by removing limits on its own production…
Offshore energy stocks, about 34 of them, soared in value on Monday, as investors ignored corona-virus fears and heeded instead a number of U.S. and Norwegian market reports.Shares in Northern Drilling soared 31.48 percent by mid-morning in Oslo (before settling 12 percent up)…
London-listed oil and gas company Cairn Energy has provided an update of its operations including the progressing of the Sangomar Field Development offshore Senegal despite the having yet to attract the necessary funding for its share of the costs…
Oil prices jumped more than 3% on Monday, reversing an earlier fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.Brent crude was at $51…
Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.A worker…
Eight candidates are seeking to become the next head of Norway's sovereign wealth fund, in charge of managing a global portfolio of stocks, bonds and real estate worth $1.1 trillion, the Norwegian central bank said on Tuesday.The all-male list of candidates…
Global classification society DNV GL has awarded a conformity statement to Norwegian solar energy company Ocean Sun for its floating solar design methodology.The conformity statement is the first of its kind and was issued following a thorough…
China National Offshore Oil and Gas Corp (CNOOC) is set to inject its struggling natural gas terminal and power unit into its flagship listed vehicle CNOOC Ltd, three senior sources with knowledge of the matter said. The plan for the internal merger…
UK-based Galloper Wind Farm Ltd recently agreed the sale of its transmission assets relating to the 353 MW Galloper Wind Farm to Diamond Transmission Partners pursuant to the Offshore Transmission Owner (OFTO) regime.The international law firm…
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand…
Norway's sovereign wealth fund, the world's largest, made a 19.9% return on investment last year, earning a record 1.69 trillion Norwegian crowns ($180 billion) as stock markets rallied, it said on Thursday. The $1.1 trillion fund's return for the year was stronger than that of its benchmark index…
Offshore drilling firm Seadrill said on Thursday the recent recovery of rig markets had slowed at the start of 2020, and that discussions with creditors on how to handle its massive debts would continue.The company booked $39 million in adjusted earnings before interest…
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