Oil and gas company Red Emperor Resources NL will not be exercising its option to acquire a 70% operated interest in the Perth Basin exploration permit, WA-481-P, offshore AustraliaThe company had in late 2019 agreed to fund the completion of…
Oil and gas company Neptune Energy has been given a regulatory consent to use the Deepsea Yantai drilling rig for production drilling at its Gjøa field, offshore Norway.According to the Petroleum Safety Authority Norway which gave the consent last week the drilling will take 240 days to complete…
OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market…
The volume of crude stored on ships in Asia has come off the peaks seen earlier this month on a recovery in demand in China and India, trade sources and analysts said. A total of 3.4 million tonnes (24.8 million barrels) of crude oil was discharged…
British oil major BP has agreed to discount the price of the North Sea assets it is selling to Premier Oil, Premier said on Friday.Under the new deal, Premier only has to pay $115 million out of the initial price of $625 million if oil prices…
Offshore wind turbine maker MHI Vestas Offshore Wind has signed a conditional agreement for the delivery of turbines comprising 1,140 MW for an offshore project in the UK, Vestas Wind Systems said Monday.MHI Vestas Offshore Wind, a joint venture…
Shares in Sembcorp Marine and Sembcorp Industries remained halted for a second day on Friday, prompting speculation among some analysts about a potential deal between the Singapore rig builder and its parent company.'Given the concurrent nature of the trading halts…
U.S. offshore vessel provider Seacor Marine will buy the remaining 50% stake in Seacosco from China's Cosco.Seacor will pay $28.15 million in installments, and the transaction is expected to close in June 2020.With the acquisition, Seacor will…
UK-based oil and gas company Independent Oil and Gas plc (IOG), has awarded a well management contract to Petrofac for its Core Project Phase 1 in the UK Southern North Sea.The Core Project Phase 1 will develop and bring online the Southwark…
French oil and gas major Total will buy a 51% stake in SSE Renewables' giant Seagreen 1 offshore wind farm project for an upfront payment at closing of 70 million pounds and earn-outs up to 60 million pounds in aggregate subject to performance conditions…
Waterjet propulsion specialist HamiltonJet said it is currently working with Norway-based Offshore Windservice AS to convert five vessels from controllable pitch propeller (CPP) to waterjet propulsion and advanced control technology.At project completion…
Offshore installation firm Subsea 7 has clinched a major contract with SSE Renewables for the engineering, procurement, construction and installation (EPCI) of the foundations and inter-array cables for the Seagreen Offshore Wind Farm project…
Shares in Innogy, once Germany's No.1 energy group by market cap, are expected to be delisted this week, as rival E.ON said it completed a buy-out of minority shareholders as part of a broader deal to break up the firm.'In the months ahead,…
The partners in Israel's offshore Leviathan natural gas field have agreed to sell about 2.5 billion shekels ($716 million) of gas to IDE Technologies for its planned desalination plant along the Israeli coast, according to a source familiar with deal…
Tim Harris was preparing to relocate for an assignment with energy services firm Halliburton Co for the fifth time in 15 years when his career came to a halt.A third-generation employee, Harris rose through the ranks at the top shale-oil services provider to oversee oilfield crews…
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