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…
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…
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…
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…
Aker Energy, a Norwegian oil company focused on Ghana's offshore resources, has appointed a new CEO.Aker ASA, Aker Energy's parent company, said Friday in its first-quarter report that Håvard Garseth took over as Aker Energy's CEO in April.Prior…
Analysts from Norway's Rystad Energy expect that the global oil and gas investment cuts will severely hit demand for subsea equipment, with demand for subsea umbilicals expected to fall by 32%.Rystad sees just 713 kilometers (km) of lines ordered in 2020…
Offshore jack-up rig company Seafox has increased its ownership in rival and takeover target Gulf Marine Services to 16.39 percent by acquiring 9,38 million shares in GMS on the market at a price of 10 pence per share on Tuesday.The Dutch company also made a 'no increase' statement…
Nigeria will not hold 'substantive' oilfield bid rounds until prices recover, the head of the state oil company said on Tuesday in a web conference.Mele Kyari, group managing director of the Nigerian National Petroleum Corporation, also said…
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