Australian oil and gas giant Woodside has signed binding agreements with Cairn for the acquisition of Cairn's 40 percent interest in Woodside-operated offshore oil blocks in Senegal.The firm deal, announced Friday, comes after Cairn had in July agreed to sell its interest in the Rufisque Offshore…
Norwegian oil and gas firm Equinor is planning to drill new wells at its Martin Linge development in the North Sea, after discovering that several previously drilled wells do not have the necessary barriers and that bringing them online would not be safe…
Baker Hughes is pivoting to customers preparing for the transition to a low-carbon future, bolstering its footprint beyond oil and gas oilfield services, its chief executive said on Tuesday.The company will continue to downsize its oilfield services and equipment portfolio…
U.S. Gulf of Mexico oil companies shut around 82 percent of oil production on Monday and evacuated personnel bracing for the impact of two tropical storms Marco and Laura.From operator reports, the U.S. Bureau of Safety and Environmental Enforcement said Monday that approximately 82…
North Sea-focused provider of waste and decommissioning services Augean North Sea Services (ANSS) said Monday it had acquired the EcoCentre at Peterhead, Aberdeenshire.ANSS assists the treatment, recycling and re-use of waste material derived…
Building a versatile OSV fleet is expensive, even more expensive when your timing is wrong. Buy at the top and you can quickly find yourself exposed if the market suddenly turns, those shiny new assets depreciate rapidly, and large debts, that the (new) poor market cannot service…
The worsening stand-off in the eastern Mediterranean, frequently described as a gas conflict, has been gaining momentum. It may seem a strange time to be fighting over gas when prices remain in a slump due to weak demand and investors withdrawing…
Apollo Global Management will acquire a share in US Wind, an offshore wind energy development company, via an investment of up to $265 million.'Apollo Funds have committed to invest through convertible debt and equity up to $265 million to acquire…
BPH Energy Limited (ASX: BPH) has continued its extensive work at its exploration well at the Baleen drill target in the PEP11 offshore permit in NSW. Today, the company provided a report on the geochemical support for the planned exploration well within PEP11…
Norwegian offshore seismic surveyor PGS has rejected a $600 million offer to sell its multi-client library to compatriot and rival TGS, deeming it opportunistic, given the dire situation for seismic data companies caused by low oil prices.In an unsolicited…
Hedge funds' oil trading largely dried up last week as the normal summer holiday slowdown was compounded by an absence of price or fundamental signals about the future direction of the market.Hedge funds and other money managers purchased the…
Israel's Delek Drilling said on Wednesday it will pay an average interest of 6.28% in a $2.25 billion international bond offering to help it finance the development of the Leviathan natural gas project off Israel's Mediterranean coast.Following a roadshow…
Australian offshore oil and gas safety regulator NOPSEMA has accepted Shell's offshore project proposal for the development of the Crux gas field in the Browse Basin, off the north coast of Western Australia.Consisting of a normally unmanned platform and five production wells…
Vard Marine (VARD) is doubling down on the U.S. offshore wind sector, having recently secured ABS Approval in Principle (AIP) for a second Jones Act service operation vessel (SOV) design.The AIP awarded in June 2020 is for a customized version…
Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil's collapse in April and May amid the coronavirus pandemic…
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