Oil prices fell more than 2% on Tuesday on worries that new clampdowns on businesses to stem surging U.S. coronavirus cases could threaten fuel demand recovery and expectations that OPEC+ might ease output cuts from August in an upcoming meeting…
Norwegian oil firm Aker BP on Tuesday beat second-quarter pretax profit expectations helped by record output and a partial reversal of impairments from the previous quarter as oil prices rose.Pretax profit fell to $151 million from $249 million a year earlier but beat a forecast of $91…
Green Energy International Limited (GEIL) and LEKOIL, the companies comprising Otakikpo JV which operates the Otakikpo field off Nigeria, have executed definitive agreements with Schlumberger for the next phase of the field development offshore Nigeria…
Brazil's Petrobras has said it has signed an agreement to sell its entire stake in three offshore oil fields in Potiguar Basin to Ouro Preto for $1.5 million.The fields in question are the Pescada, Arabaiana, and Dentão fields located in shallow waters of the Potiguar Basin (Pescada Cluster)…
UK-based engineering and construction services firm Petrofac has won secured an Engineering, Procurement, Construction, Pre-commissioning and Commissioning (EPCC) contract in Kazakhstan.The contract is worth about US$135 million for new water…
Norway-based energy intelligence firm Rystad Energy said Tuesday it didn't expect any new FPSO orders this year, however, it expects the situation will improve next year when it foresees seven new FPSO to be ordered.'Hit by the second industry downturn in five years…
Vietnam's state oil firm PetroVietnam is seeking to venture into renewable energy sources like wind farms and floating solar panels, as domestic crude oil production has peaked at most of its offshore oil fields.The company, formally known as Vietnam Oil and Gas Group…
Petrobras is preparing to launch a tender to build Brazil's largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production.Petroleo Brasileiro SA…
UK-based well engineering firm Fraser Well Management (FWM) has launched a new well operatorship division.'The new product line marks an evolution for the established well engineering and management specialist and aims to provide end-to-end…
Brazilian oil company Petrobras has said it has started decommissioning works on the P-12 semi-submersible production platform in the Campos Basin, offshore Brazil.The 1983-built platform is located at the Linguado field, 83 km from Cabo de…
Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September, two OPEC sources said.The Organization of the Petroleum Exporting Countries and allies led by Russia…
Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound implications for the business strategies of oil-producing companies and countries.Slower growth will intensify…
Belgian offshore contractor DEME Offshore has installed the first jacket at the 950 MW Moray East offshore wind farm, offshore Scotland, the UK. In total, 100 wind turbine jackets and 3 offshore substation jackets will be installed at the project…
Byron Energy has completed the installation of the SM71 G platform in the Gulf of Mexico.The company said Monday that the installation of jacket and decks comprising the platform had been completed. 'The Triton Hedron derrick barge has de-mobilized…
South East Asia focused oil and gas company Jadestone Energy has started arbitration against Inpex's subsidiary Teikoku over Jadestone’s acquisition of an interest in Blocks 05-1 b and c, offshore Vietnam.Jadestone in August 2016 signed an agreement…
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