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…
Italian oilfield services company Saipem has agreed to buy Solstad Offshore's lay barge vessel DLN Norce Endeavour.Saipem had in December 2019, chartered the vessel from Solstad Offshore. The charter included an option for Saipem to acquire the vessel…
The oil price crash has led to Danish offshore wind developer Orsted overtaking Norwegian oil major Equinor as the most valuable energy company in the Nordics, highlighting the appeal to investors of renewables over fossil fuels. Shares in Equinor…
AllSurplus, an online auction marketplace owned by Liquidity Services, is currently marketing two offshore production units from Petronas in a private treaty sale.The company said Tuesday that the two assets are 30,000 BFPD Self-Elevating Mobile…
Oil prices jumped more than 3% on Monday, reversing an earlier fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.Brent crude was at $51…
Turkish President Tayyip Erdogan has reportedly confirmed that the country, through its national oil company TPAO, has expanded its offshore drilling fleet with another drillship.TPAO has been using its two drillships the Fatih and the Yavuz – bought in 2017…
Africa-focused oil company Vaalco Energy has said that its South East Etame 4P appraisal wellbore offshore Gabon in the Etame Marin permit area successfully encountered oil sands in the Gamba formation.The well, drilled from the Vaalco-operated South East Etame North Tchibala (SEENT) platform…
Total Chief Patrick Pouyanne dismissed the idea it might buy its partner in East Africa and Guyana, Tullow Oil, whose share price slumped to 19-year lows in December over a string of bad news, stoking takeover speculation.Total is a partner…
Vineyard Wind, the developer of the first major U.S. offshore wind farm, said on Tuesday it will miss its target to start sending power to Massachusetts by 2022 due to lengthy federal permitting delays.The Bureau of Ocean Energy Management, part of the U…
Oilfield services company John Wood Group, recently rebranded to Wood, has sold its industrial services business to Kaefer.London-listed Wood said the sale of the part of the business which provides integrity and fabric maintenance for assets…
Total beat forecasts on Thursday by keeping net adjusted profit for the fourth quarter steady at $3.2 billion despite low oil prices and fulfilled a pledge to boost dividends, lifting the French energy major's shares. Analysts had forecast net profit of about $2…
National Oilwell Varco beat estimates for its fourth-quarter profit on Thursday, as the oilfield services provider cut costs to counter an ongoing decline in North American drilling activity. Lower crude prices and investor demand for higher returns have forced U…
BP's phase three of the $12 billion West Nile Delta project offshore Egypt will come online by the end of this year, nearly 12 months behind the earlier scheduled deadline, the company said in a conference call this week.The third phase includes the development of the Raven field…
RockRose Energy has signed a deal to buy Speedwell Energy, a company owning a 100% stake in the Cotton gas field in the UK sector of the Southern North Sea. RockRose said Tuesday that the deal was 'for a limited initial consideration,' with…
North Sea private equity-backed Chrysaor's talks to buy smaller regional rival Siccar Point have ended after a large gap between their price expectations, three sources close to the process said. The breakdown in negotiations highlights difficulties…
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