Offshore News, Offshore Engineer Magazine - Page 2

 

Angola's Oil Exploration Evaporates

May 20, 2020

The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa's second-largest oil producer.The consequences could be grave for a poor country that relies…

Oil Futures Markets Need More Transparency

May 01, 2020

Recent turbulence in the price of light sweet crude oil futures has highlighted how little is known about the positions of traders and their impact on the formation of prices.Exchanges and regulators see the positions of all members and traders…

Piracy Incidents Offshore Mexico 'Largely Unreported'

Apr 20, 2020

Piracy activity on the Mexican side of the Gulf of Mexico seems to be picking up, with several attacks in the past month on offshore support vessels.A little over a week ago, a Maersk Supply Service's offshore vessel was a target of an armed robbery offshore Ciudad Del Carmen…

Moving the Needle for Oil & Gas Technology

Mar 27, 2020

Technology in the oil and gas industry has been largely focused on digitizing processes and implementing Artificial Intelligence (AI) into the workflow. With the conclusion of another year, the next decade will continue to adopt even more changes…

Ten Signs the Oil Industry is Bent Out of Shape

Mar 26, 2020

The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals.International crude…

Oil Price Crash - Where Does Asia Go from Here?

Mar 17, 2020

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…

Cairn Confident of Securing Sangomar Funding

Mar 11, 2020

London-listed oil and gas company Cairn Energy has provided an update of its operations including the progressing of the Sangomar Field Development offshore Senegal despite the having yet to attract the necessary funding for its share of the costs…

Saudi Decision Will See Oil Markets Take a Bath

Mar 10, 2020

A sustained price war could see marginal projects delayed and hasten a predicted decline in new awards, writes Gregory Brown, Maritime Strategies InternationalThe optimism that was very much present in the offshore market at the turn of the year has ebbed away with the spread and impact of COVID-19…

'Historic' Hit, as Oslo Plumbs New Depths

Mar 09, 2020

Norwegian offshore suppliers on Monday endured a perfect storm of economic shockwaves after the oil price collapsed 30 percent over the weekend and sent oil stocks plummeting en masse in a way not seen for two decades.By around midday in Oslo…

Aker BP, Framo Pump Pact a Market Indicator

Mar 05, 2020

Aker BP and Framo have signed a first long-term frame agreement for the preventive maintenance of seawater lift pumps, a deal in which “compensation is directly linked to facility uptime”, the operator said in a release Monday.While the “seawater lift as a service” agreement might sound “smart”…

New Civil Conflict in Somalia Could Hurt Offshore Projects

Mar 04, 2020

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…

Oil Stocks Rise on Stimulus, Orders, Oil price

Mar 03, 2020

Offshore energy stocks, about 34 of them, soared in value on Monday, as investors ignored corona-virus fears and heeded instead a number of U.S. and Norwegian market reports.Shares in Northern Drilling soared 31.48 percent by mid-morning in Oslo (before settling 12 percent up)…

Operators Could Soon Pay More for FPSOs

Feb 27, 2020

Amid a raft of February orders and near-orders for floating production storage and offloading vessels, or FPSOs, comes a new report suggesting those shipyards and engineers able to piece them together may soon be feeling the strain.'The strong pace of recent orders has a downside…

Aminex's Wait for Tanzania Approvals Continues

Feb 26, 2020

Uncertainty and unpredictability continue to grip Tanzania's offshore sector as the government keeps international oil and gas exploration and production firms guessing on the outcome of their applications for approval to progress their previously approved projects…

Oslo on Monday: 45 Oil Stocks Rattled

Feb 24, 2020

Despite a string of good-news messages in recent weeks, the price of oil continued its weeklong slide on Monday, taking with it many of Norway’s oil-focused stocks.A large swathe of listed offshore suppliers and energy companies took a pounding…

Current News

Saudi Aramco, Chevron Chiefs See Global Oil Demand Recovery

Saudi Aramco, Chevron Chiefs See Global Oil Demand Recovery

Lundin Energy Hires Deepsea Stavanger Offshore Drilling Rig

Lundin Energy Hires Deepsea Stavanger Offshore Drilling Rig

ABS: U.S. Offshore Wind Vessel Demand Set to Soar

ABS: U.S. Offshore Wind Vessel Demand Set to Soar

Oceaneering Wins Integrated Rig Services Deal in Gulf of Mexico

Oceaneering Wins Integrated Rig Services Deal in Gulf of Mexico

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