Marine seismic data company ION Geophysical has said it has settled a decade-long patent litigation with WesternGeco. The litigation was related to ION's use of WesternGeco's patented technology used for lateral streamer positioning. The companies…
Offshore drillings contractors leasing drilling rigs to oil and gas companies are set to lose contracts worth $3 billion in combined revenue in 2020 and 2021, Rystad Energy said Thursday, citing the impact of the coronavirus pandemic and low oil prices…
Norway approved on Wednesday Equinor's 4.8 billion Norwegian crowns ($466 million) plan to build floating offshore wind turbines that will provide electricity to North Sea oil and gas platforms, the energy ministry said.The long-planned project…
Offshore services company Oceaneering has won a contract to complete seabed route and debris clearance for the Moray East Wind Farm project in the Moray Firth, Scotland.The contract, of an undisclosed value, has been awarded by Moray Offshore Windfarm (East) Limited (MOWEL)…
London-listed oil company Upland Resources has, with partners, relinquished an offshore license in the UK sector of the North Sea.Upland said Wednesday that it had relinquished Licence P2470 in the Inner Moray Firth. The license included blocks 11/23…
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…
Norway's economic activity excluding the offshore oil and gas industry fell 14% as of the end of March compared with the end of February, preliminary data from Statistics Norway showed on Wednesday in a new snapshot look at how the economy is doing…
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the blended impact of COVID-19 on oil and gas activities and the oil price war, Rystad Energy said Tuesday.These wells, the Norwegian energy intelligence firm said…
China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a statement on Wednesday.CNOOC Ltd…
Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree in shale, LNG and deep water oil production and will cut planned capital spending this year by $10 billion as the coronavirus pandemic saps energy demand and oil prices…
Oil company Global Petroleum has exchanged part of its stake in offshore Namibia Block, 2011A (PEL0094), with NAMCOR, for a right to get access to pre-existing 3D seismic data over the block.'This key data, acquired by previous licensees in 2010…
Norway has been invited to and is considering attending the OPEC meeting on April 9 as an observer, and would reduce output provided there is broad support to do so, the country's oil ministry said on Monday.The ministry reiterated in an email…
Norwegian oil firm Equinor, with partners Progress Resources and Repsol, has made an oil discovery in the Monument exploration well in the US Gulf of Mexico.The Monument exploration well found approximately 200 feet (c. 60 meters) of net oil…
RWE, Europe's third-largest renewables group, has taken a final investment decision for a 342 megawatt wind project off the German coast, its green energy unit said on Friday.Contracts worth more than 500 million euros ($539 million) have been signed for all major components of the Kaskasi project…
Offshore installation and construction company Subsea 7 has said it has won a sizeable contract - meaning worth between $50 million and $150 million, for work on a wind farm offshore Germany.Subsea 7 said Friday the contract was with innogy Kaskasi for the Kaskasi offshore wind farm project…
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