Malaysia's state energy giant Petronas, struggling with weak prices and falling demand, said on Friday its own funding needs and debt obligations would dictate any special dividend to the government amid the coronavirus crisis.The government…
Dutch offshore transportation and dredging giant Boskalis has halted crew changes and will slash spending this year due to the COVID-19 virus crisis, it said on Thursday.The company said that, while its workers work from home where possible…
Vaalco Energy has said it has completed the South East Etame 4H development well offshore Gabon, including approximately 750 feet of horizontal section in the Gamba reservoir.The company said Thursday it had brought the South East Etame 4H well onto production on March 21…
NaiKun Wind Energy company has entered into an agreement to sell the NaiKun Offshore Wind Farm - a project in early stages of development - located in the Hecate Strait off the coast of British Columbia, Canada to Northland Power.NaiKun said Monday that Northland…
Japanese industrial giant Kawasaki Heavy Industries has contracted the Norwegian underwater drone specialist Stinger, to help it test its prototype AUV (Autonomous Underwater Vehicle).Stinger said last weekend that it would provide Kawasaki…
Chinese offshore oil and gas specialist CNOOC Ltd said on Wednesday it will 'significantly' reduce capital spending this year amid sharply lower global oil prices.The state-backed energy company saw limited impact on its operations from the…
Austrian oil and gas group OMV is again postponing an investment decision on its Black Sea exploration project and is now aiming for a decision next year at the earliest, its chief executive said on Friday.The exploration of the Black Sea Neptun…
Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday.'The effect of the COVID-19 virus on global demand for oil and gas…
Schlumberger, the world's largest oilfield services company, on Tuesday said it would cut spending by 30% this year from last year's levels as the oil market has been roiled by the coronavirus outbreak and Saudi-Russia price war.The company…
Lawmakers representing U.S. Gulf coast states on Friday asked Interior Secretary David Bernhardt to temporarily cut the royalty rate oil and gas companies must pay on their offshore drilling operations to help the industry weather a market crash…
Israeli gas-focused group Energean is looking at possible further gas acquisitions in the Mediterranean, CEO Mathios Rigas said on Thursday, as the group announced $155 million in spending cuts.The cuts mean Energean will not drill two planned…
AllSurplus, an online auction marketplace owned by Liquidity Services, is currently marketing two offshore production units from Petronas in a private treaty sale.The company said Tuesday that the two assets are 30,000 BFPD Self-Elevating Mobile…
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…
Italian oilfield services company Saipem has agreed to buy Solstad Offshore's lay barge vessel DLN Norce Endeavour.Saipem had in December 2019, chartered the vessel from Solstad Offshore. The charter included an option for Saipem to acquire the vessel…
The oil price crash has led to Danish offshore wind developer Orsted overtaking Norwegian oil major Equinor as the most valuable energy company in the Nordics, highlighting the appeal to investors of renewables over fossil fuels. Shares in Equinor…
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