Oil and gas company Neptune Energy has informed that Alexandra Thomas has joined the company as UK Managing Director, based in Aberdeen.Thomas joins Neptune from Tullow Oil plc, where she most recently held the position of Head of Exploration…
Subsea well intervention is on the rise around the world. It has already become established in Europe, where each subsea well now experiences an average of 1.5 intervention days per year, according to speakers at last year’s OWI APAC conference…
U.S. oil and gas company Murphy Oil has slashed capital spending plans by $500 million citing 'current market conditions and recent commodity price volatility.' The company plans to preserve dividend payments.Murphy’s revised 2020 budget is approximately $950 million…
Chevron said it is looking at ways to cut spending, which could lead to lower near-term oil and gas production, following the recent collapse in the oil price. The U.S. company is the first oil major to confirm it is reassessing its spending in the wake of the price collapse…
Oil prices fell on Wednesday, giving up earlier gains, after Saudi Aramco said it had been directed by the energy ministry to raise its production capacity by a million barrels per day. Brent crude slid $0.41, or 1.1%, to $36.81 a barrel by 0740 GMT…
The Dutch government on Wednesday said it would double the amount of money available under its renewable energy subsidy program to 4 billion euros ($4.45 billion) in 2020, from a previously planned 2 billion euros.The Netherlands is scrambling…
Oil and gas companies might be heading for another round of 'brutal' cost cuts in the wake of the oil price crash caused by coronavirus outbreak and Saudi-Russia stand-off on output cuts.Wood Mackenzie’s Tom Ellacott said: “The price collapse…
A sustained price war could see marginal projects delayed and hasten a predicted decline in new awards, writes Gregory Brown, Maritime Strategies InternationalThe optimism that was very much present in the offshore market at the turn of the year has ebbed away with the spread and impact of COVID-19…
The Norwegian economy remains strong despite the sharp fall in the price of oil, Norway's biggest export, but it is too early to tell what the full impact will be from cheaper crude and the coronavirus, Finance Minister Jan Tore Sanner said on Monday…
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand…
Norwegian offshore suppliers on Monday endured a perfect storm of economic shockwaves after the oil price collapsed 30 percent over the weekend and sent oil stocks plummeting en masse in a way not seen for two decades.By around midday in Oslo…
Spanish energy company Iberdrola has agreed to buy the remaining 30% interest in Ailes Marines, a company developing the Saint-Brieuc offshore wind farm in France.Iberdrola said the transaction would add momentum to the project, which is scheduled to begin construction in 2021…
Brent slid to its biggest daily loss in more than 11 years on Friday after Russia balked at OPEC's proposed steep production cuts to stabilize prices hit by the economic fallout from the coronavirus, and OPEC responded by removing limits on its own production…
Offshore energy stocks, about 34 of them, soared in value on Monday, as investors ignored corona-virus fears and heeded instead a number of U.S. and Norwegian market reports.Shares in Northern Drilling soared 31.48 percent by mid-morning in Oslo (before settling 12 percent up)…
Oslo-listed BW Energy has started oil production from the Tortue Phase 2 field development project in the Dussafu Marin Permit offshore Gabon.The Gamba well DTM-5H was successfully brought online as of 4 March, ahead of schedule. The second well…
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