Delek's British North Sea oil and gas producer Ithaca Energy will cut spending by about half to $120 million this year, it said on Tuesday, adding that cashflow remains strong in spite of a recent slump in oil prices.Ithaca, which its owner has said could list on the London stock market this year…
Malaysia's state energy giant Petronas, struggling with weak prices and falling demand, said on Friday its own funding needs and debt obligations would dictate any special dividend to the government amid the coronavirus crisis.The government…
Oil company Shell has extended the charter for Altera Infrastructure's FPSO Petrojarl Knarr FPSO, operating at the Knarr field offshore Norway.The FPSO owner, which recently rebranded from Teekay Offshore to Altera, said the extension with Shell…
OPEC and it allies held talks on Thursday on record oil output curbs of about 15 million barrels per day (bpd) or more, roughly 15% of global supplies, to support prices hammered by the coronavirus crisis, sources involved in the discussions said…
Oslo-listed marine seismic data acquisition company SeaBird Exploration has lost a survey contract offshore West Africa.In a statement on Monday, SeaBird Exploration said it had been notified that the end-client has canceled the two OBN surveys off West Africa due to the COVID-19 situation…
Indonesia's state oil and gas company PT Pertamina has bought a cargo of Australian North West Shelf (NWS) condensate at a deep discount of $8 a barrel to dated Brent on a cost-and-freight (CFR) basis, three trade sources told Reuters on Wednesday…
Vaalco Energy has said it has completed the South East Etame 4H development well offshore Gabon, including approximately 750 feet of horizontal section in the Gamba reservoir.The company said Thursday it had brought the South East Etame 4H well onto production on March 21…
China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in March applications from its companies to waive import tariffs on U…
Lawmakers representing U.S. Gulf coast states on Friday asked Interior Secretary David Bernhardt to temporarily cut the royalty rate oil and gas companies must pay on their offshore drilling operations to help the industry weather a market crash…
Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday.'The effect of the COVID-19 virus on global demand for oil and gas…
Schlumberger, the world's largest oilfield services company, on Tuesday said it would cut spending by 30% this year from last year's levels as the oil market has been roiled by the coronavirus outbreak and Saudi-Russia price war.The company…
Nigeria's petroleum regulator has ordered oil and gas companies to reduce their offshore workforce and move to 28-day staff rotations as part of measures to curb the spread of the coronavirus, according to a circular seen by Reuters.Health experts…
The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals.International crude…
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…
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…
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