Santos Ltd, Australia's No. 2 independent gas producer, said on Tuesday it is reviewing all its capital spending plans in light of the collapse in oil prices and would stop all new hiring.Santos had planned to spend $1.45 billion in 2020, including $500 million on major growth activities…
Offshore accommodation specialist Prosafe’s Safe Zephyrus accommodation rig has been contracted in support of the redundant subsea tank removal and safe re-habitation of the Thistle Alpha platform in the UK North Sea.As previously reported,…
Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.A worker…
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…
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…
OPEC's proposal to cut oil production by up to 1 million barrels a day would be enough to balance the oil market and lift prices to $60 a barrel, Leonid Fedun, vice-president of Russian oil producer Lukoil, told Reuters. The comments from Fedun…
Royal Dutch Shell's Bonga oilfield in Nigeria will undergo maintenance in March and April, though the impact on production and exact dates are still being finalized, a spokesman said.Shell operates the offshore field via its Nigerian subsidiary SNEPCo…
Oil prices slid more than 4% on Friday after Reuters reported that Russia will not agree to steeper oil output cuts by OPEC and its allies to support prices. Brent and WTI crude futures tumbled by nearly $3 a barrel, or more than 5%, after the report…
Equinor will extend its employees' shifts at offshore platforms to 21 days from 14 days to reduce the risk of coronavirus spread, the oil company said on Monday, as oil and gas production offshore Norway continued as normal.Equinor recorded…
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…
Civil strife has been one of Africa's biggest hurdles to the exploration and production of oil and gas on the continent's waters. Despite a reduction in the conflicts, violence has flared up again in East Africa, as forces loyal to Somalia clashed…
Exxon Mobil on Monday said it will make 'significant' cuts to spending in the face of the unprecedented slide in oil prices due to the global coronavirus outbreak, which sent its shares to a 17-year low. It was a stunning reversal for the largest U…
Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday. The downward revision came as oil prices dropped…
Guyana has extended the initial deadline in its search for an agent to market its share of oil produced by an Exxon Mobil-led consortium to March 24, the Department of Energy said on Wednesday.Guyana has no domestic refining capacity or national…
Energy companies across the Asia Pacific responding to unprecedented challenges on multiple fronts 2020 has hit us like a fist. Coronavirus is already the most severe shock to hit the world economy since the financial crisis over a decade ago…
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