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…
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…
The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals.International crude…
Danish offshore drilling company Maersk Drilling has informed that a third-party worker aboard its offshore drilling rig at Total's Culzean field in the UK North Sea is exhibiting symptoms that may point to the COVID-19 coronavirus infection…
Norwegian oil and gas company Equinor is set to form what it described as a 'temporary corporate project' aimed at dealing with the effects of the coronavirus and the low oil prices.'The Coronavirus, measures to limit the spread and the significant…
Norway's oil and gas industry regulator has introduced restrictions with regard to the presence in its offices for persons who have been in areas with the prolonged spread of coronavirus.'If you have been in these areas during the last 14 days…
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…
Oil and gas companies around the world aim to slash spending as crude prices have plunged due to the impact of the coronavirus and a push by Saudi Arabia and Russia to ramp up output.Oil prices have more than halved in value since the start of the year…
Jumbo, a Dutch heavy lift shipping and offshore transportation company, has said it will close it office locations and send office employees to work from home until further notice, to reduce the risk of coronavirus infection.The marine company…
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…
The Trump administration on Wednesday will hold a major sale of oil and gas leases in federal waters, testing drillers' appetite for investment amid a steep slide in oil prices that has cast doubt over energy projects around the globe. The more than 78 million-acre (31…
French oil services group CGG expects its segment revenue growth to slow down in 2020, it said on Friday, assuming a limited effect from the coronavirus.'We continue to monitor the situation and potential impact on our business as our clients…
Energy companies across the Asia Pacific responding to unprecedented challenges on multiple fronts 2020 has hit us like a fist. Coronavirus is already the most severe shock to hit the world economy since the financial crisis over a decade ago…
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…
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