Royal IHC, a Dutch marine equipment and vessel provider, has said that extensive tests have been completed on a new seabed geotechnical drill designed for offshore wind and oil and gas markets, and the rig will now go on seatrials before hitting the market…
Norway, Western Europe's largest oil producer, signaled on Friday it could cut its output if the deal negotiated by the so-called OPEC+ nations was implemented as planned.Norway's Minister of Petroleum and Energy Tina Bru is taking part in Friday's…
Belgium-based offshore installation and construction company DEME has chartered a hotel ship where it will pre-quarantine its offshore crews ahead of deployment to offshore projects.'To ensure safe crew changes on board dredgers and offshore vessels during the COVID-19 pandemic…
Global oil producers and refiners are struggling with a series of unprecedented dislocations as the simultaneous epidemic and volume war between Saudi Arabia and Russia rip through every element of the supply chain.Some idea of the extraordinary…
Saudi Arabia's energy minister said on Friday that a final OPEC+ oil supply pact to reduce 10 million barrels per day (bpd), which was agreed on Thursday, hinges on Mexico joining in the cuts.OPEC, Russia and other allies, a group known as OPEC+…
Greece-based Asso.subsea took delivery of an SMD Quasar 150-horsepower, 1,000-meter-rated work class remotely operated vehicle (ROV) complete with launch and recovery system (LARs).The Quasar will be installed on board Asso.subsea Astrea DP2 multipurpose service vessel to support cable laying…
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…
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