Gulf Marine Services (GMS), a UAE-based owner of a fleet of jack-up service units for the offshore energy industry, has again rejected Seafox's takeover proposal and has urged its shareholders to do the same.Seafox, the Dutch owner of a fleet of offshore jack-up service vessels…
London-listed The Renewables Infrastructure Group (TRIG) said on Friday it has completed the acquisition of a 36% stake in a 396 megawatt (MW) offshore wind farm in the German North Sea.Commercial operations commenced in June 2019 at the Merkur…
U.S. Energy Information Administration (EIA) on Tuesday noted the Brent oil price remained low despite the recent OPEC+ deal, but added it expected the prices to average $48 a barrel next year. It also warned that the forecast was subject to…
Norwegian offshore drilling contractor Odfjell Drilling does not expect the Covid-19 and low oil prices to have a major impact on its business in the short to medium term.The company which owns a fleet of five harsh-environment offshore drilling rigs…
Austrian energy group OMV sees hope for a recovery in oil prices in the second half of 2020 helped by increased fuel demand and output cuts by producers such as Saudi Arabia, its chief executive said.The spread of the coronavirus has knocked…
The Norwegian government has cut its oil price assumption for 2020 to 331 Norwegian crowns ($32.17) per barrel from 476 crowns last October, a revised budget showed on Tuesday.Norway is Western Europe's largest oil and gas producer, with petroleum…
Nestlé's UK subsidiary has signed a 15-year indexed fixed price agreement with Danish offshore wind company Ørsted to buy green power from the Race Bank Offshore Wind Farm, off the coast of Norfolk.Nestlé UK will buy the output of 31MW of the offshore wind farm's 573MW total capacity…
Inpex Corp, Japan's top oil and gas company, on Tuesday cut its annual net profit forecast by 93% after first-quarter earnings slumped due to an oil price collapse and as the coronavirus pandemic choked off international energy demand.The group…
Oil and gas company Neptune Energy has received regulatory approval to use the Deepsea Yantai rig for exploration drilling in the North Sea, offshore Norway.The Petroleum Safety Authority Norway said Wednesday it had granted Neptune the consent…
Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide…
U.S. oil major Chevron has awarded pipeline operator Williams a contract for the provision of offshore natural gas transportation services for the Anchor development in the U.S. Gulf of Mexico.Anchor, sanctioned in December 2019, is located…
Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. said Thursday.Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO…
Guyana has no plans to cut crude output despite a plunge in oil prices, the government's top energy official said on Monday, adding that shutting down production could prove costly and harm future output.Mark Bynoe, the director of the Department of Energy…
Exxon Neftegaz Ltd (ENL) is adjusting the schedule and scope of some of its activities at the Sakhalin-1 oil and gas project in far eastern Russia as it moves to cut spending in response to the coronavirus crisis and weak oil prices, it said on Friday…
Aker ASA, a major investor in Norway's oil and oil service industries, is preparing its businesses for an extended period of low crude prices, its chief executive said on Friday'I don't expect the oil market to come into balance during the next couple of years…
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