Serica Energy, UK oil and gas company operating mainly in the North Sea, said that the Rowallan well was drilled down to a depth of 4,641 metres and after an unsuccessful result, it will now be plugged and abandoned.It encountered a 182-metre…
Mexico will offer its ailing state oil company Pemex a lifeline for only one year by dipping into its budget stabilization fund, Finance Minister Carlos Urzua said on Friday, ruling out that the government will absorb the debt.With $106 billion in financial debt…
Royal Dutch Shell announced it will sell its stake in the deepwater Caesar Tonga field in the US Gulf of Mexico for $965 million in cash to a subsidiary of Israel's energy conglomerate Delek Group.Company unit Shell Offshore will sell its 22…
Aberdeen based technology and engineering company XL Group announced on Monday it has acquired Artisan Measurement & Control Limited (AMC) in a move to add expertise, products and services in calibration, measurement, tanker loading, blending…
Any analysis of markets for offshore service vessels (OSV) usually begins with analogies to rough weather, best of times/worst of times or similar. OSV expert Seabrokers, with a home base in Stavanger, Norway, in the February edition of its…
A recent industry survey suggests Norway’s offshore fleet, the world’s second-largest, may have passed the worst of the painful, post-2014 slowdown, although ship owners contemplating market moves also say financial markets may be looking away…
Private equity fund Seacrest Capital is in talks to sell part or all of its British North Sea-focused oil exploration firm Azinor Catalyst, which could fetch between $60-$100 million, having received unsolicited offers for it, banking and industry sources said…
The offshore drilling contractor to the oil and gas industry worldwide, Borr Drilling has acquired a new jack-up newbuilding. The acquisition price is nearly half of what it was originally ordered for.The offshore driller informed that the Hull No…
The Dutch provider oil and gas exploration and production services Total E&P Nederland BV has chosen one of Vroon’s walk-to-work vessels to provide logistics support to offshore assets in the Southern North Sea (SNS).Vroon, the Dutch company specializing in offshore and shipping business…
Neptune Energy said on Thursday it has agreed with partners BP and Japex on a final investment decision (FID) for the Seagull oil and gas field in the UK North Sea.Neptune, which acquired its 35% interest in Seagull from Apache in 2018, operates the field…
Oil prices rose to new 2019 highs on Tuesday, supported by OPEC supply cuts and falling output from Iran and Venezuela because of U.S. sanctions.Brent crude oil futures were up 16 cents at $67.70 a barrel at 1415 GMT, having earlier risen to a 2019 peak of $68…
Oil rose nearly 2 percent on Tuesday as attention centered on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining U.S. inventories.Despite concerns about weaker demand due to an economic slowdown…
Cable systems manufacturer Prysmian Group said on Tuesday it has been awarded a contract worth approximately €30 million to develop of a turnkey submarine cable system for EDF Renewables' Provence Grand Large (PGL) floating offshore wind farm project in South France…
Oil prices were little changed on Monday as investors shrugged off fears of a global economic slowdown and focused on the prospect of tighter supply and lower U.S. crude inventories ahead.Brent crude oil futures climbed 30 cents to $67.33 a barrel by 11:56 a…
Mexico's deputy finance minister said on Thursday the government was considering using part of a $15.4 billion public income stabilization fund to pay some debt obligations for heavily leveraged state oil company Pemex.The finance ministry is…
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