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…
Brazilian oil company Petrobras on Thursday said it was dialing back short-term production, delaying a dividend payment and trimming its 2020 investment plan, among other measures aimed at reducing costs in the face of the coronavirus pandemic…
Offshore seismic data acquisition company Magseis Fairfield has secured a deepwater Ocean Bottom Node project offshore Mexico.According to Oslo-listed Magseis Fairfield, work is scheduled to start in the third quarter of 2020 and will take approximately 60 days…
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…
Energy intelligence company Wood Mackenzie has downgraded its expectations when it comes to new orders for floating production systems in 2020, citing the oil price crash.Mhairidh Evans, principal analyst in Wood Mackenzie’s upstream supply…
Norwegian offshore vessel operator Eidesvik Offshore will see its platform supply vessel Viking Princess return from a contract earlier than expected.The company said Sunday that it had received 'notice of early redelivery' from the charterer Ithaca Oil and Gas…
Norwegian offshore survey company has announced severe cost-cutting measures that will lead to termination of most employees and consultants and cold stacking of vessels.EMGS recently lost what was expected to be a long-term contract with Pemex in Mexico…
Bahamas Petroleum has decided to delay again the start of the drilling operations on its #Perseverance 1 offshore well in the Bahamas, citing 'the massive, unprecedented and adverse impact of the spread of the Covid-19 virus.'The company recently postponed the spud from April to May/June period…
Exxon Mobil on Monday said it will make 'significant' cuts to spending in the face of the unprecedented slide in oil prices due to the global coronavirus outbreak, which sent its shares to a 17-year low. It was a stunning reversal for the largest U…
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…
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…
Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 7% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply.Brent crude was up $2.50, or 7.3% on the day…
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…
A major sale of oil and gas leases in the U.S. Gulf of Mexico on Wednesday generated $93 million in high bids, the lowest total for any U.S. offshore auction since 2016, reflecting caution in the drilling industry amid a steep slide in oil prices…
Oil prices fell for the third session on Wednesday with U.S. crude futures tumbling to a 17-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand.U.S. crude was down $1.49 cents, or 5.53%…
Subscribe
