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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…

Deepwater Drillship Rates Rising

Feb 20, 2020

In another sign of improving deepwater market conditions, drillship day rates are on-the-rise from Canada to China, judging by a new report by numbers crunchers, Rystad Energy. Although not the only deepwater floaters, drillships are still on order at Asian shipyards…

Tower Resources: Farm-out Talks Progressing Well

Feb 19, 2020

Tower Resources Cameroon SA, a wholly-owned subsidiary of Africa-focused Tower Resources Plc, has hinted at good progress on the ongoing discussions with potential farm-in parties into the Thali PSC offshore Cameroon.The progress in the negotiations…

OSVs Finding Life Outside of Oil and Gas

Feb 14, 2020

Offshore vessels were designed and built to support the offshore oil and gas industry. Whether that’s platform supply vessels (PSVs) supplying offshore installations, anchor handlers (AHT/AHTS) moving mobile offshore drilling units (MODUs) and other offshore structures…

Norway: 20 Suppliers Bundled into New Company

Feb 13, 2020

North Sea private equity player, Hitecvision — the firm behind the rise of well-known E&P players and suppliers — has decided to bundle 20 of its oilfield suppliers into a well-capitalized industrial group with other-than-offshore aims.Hitec said the offshore suppliers would live on in a new…

Election Dispute Could Impact Lake Malawi O&G Exploration Efforts

Feb 13, 2020

Malawi’s 2019 Presidential election was annulled early this year by the Constitutional Court with directions to Malawi Electoral Commission asked to hold a fresh poll in five months. The question in the minds of many in the oil and gas exploration…

$4.2 Billion Indian Spending Spree Ahead

Feb 11, 2020

Projects worth $4.2 billion in capital expenditure (capex) are expected to get underwater offshore India this year and next, an event in Aberdeen this morning was told.The projects, across India’s Krishna Godavari (KG) Basin in the Bay of Bengal…

Opportunities Abound in Asia Pac

Feb 11, 2020

Decommissioning in Southeast Asia and Australia offers a US$100 billion opportunity out to 2040 with a million tonnes of steel to be removed and thousands of wells to be sealed, a business breakfast in Aberdeen was told this morning.Blair Miller…

Current News

South Korea’s Doosan Enerbility and Siemens Gamesa in Offshore Wind Collab

South Korea’s Doosan Enerbility and Siemens Gamesa in Offshore Wind Collab

James Fisher Names New Head of Energy Division

James Fisher Names New Head of Energy Division

Longboat Energy Eyes Southeast Asia Expansion

Longboat Energy Eyes Southeast Asia Expansion

Shell Taps PXGEO for Offshore Seismic Services

Shell Taps PXGEO for Offshore Seismic Services

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