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…
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…
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…
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…
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…
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 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”…
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…
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)…
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…
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…
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…
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 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…
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…
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