Eni booked a net loss of over $3 billion in the first quarter of the year due to the overlapping effects of the coronavirus pandemic and the oil price collapse.
Maersk Drilling has decided to stack a number of its North Sea drilling rigs to adapt to the changing market environment.
Different zero-carbon fuel options are more competitive in different decades and there is not one option which is the most competitive from today through to 2050, a new paper finds.
Over ordering of bulk carriers over the past ten years has set the tone for the upcoming decade as overcapacity hinders shipowners’ battle with low demand further constrained by the COVID-19 pandemic. A total of 413 million DWT has flooded the market since the turn of the decade, bringing the world
Exploration plans are being redrawn and the well count is expected to drop by as much as 35 per cent on 2019 levels due to the “double whammy” of the oil price collapse and COVID-19 pandemic, according to market research provider Westwood Global Energy Group.
ETIP Ocean and OceanSET are hosting a webinar on 7 May 2020 to provide an update on the ocean energy sector. The OceanSET project provides support to ocean energy implementation in order to achieve the SET Plan targets. It also helps to paint a clear picture of the ocean energy sector’s development
With the reality that Brent oil prices are scratching closer and closer to $20 per barrel, shut-ins are already happening around the world. Even if prices reach this threshold, the UK will avoid shut-ins and exploration is likely to continue in 2020.
The agreement of the members of OPEC and its allies to cut oil production by 9.7 million barrels of crude per day is not believed to be enough to offset the massive demand drop and will certainly have dire implications for the oil tanker shipping market. “The first quarter of 2020 has been one of [&
Giant oilfield services provider Halliburton booked a $1 billion loss in the first quarter of this year compared to a profit in the same period of 2019
The article delves into legal intricacies of declaring force majeure events on existing offshore construction contracts in case of delays caused by the coronavirus pandemic as well as key points to consider when entering new contracts.
ConocoPhillips is taking further actions to respond to the oil market downturn and it will be making further capital, operating cost, and share repurchase reductions of $3 billion.
Vattenfall is calling on the UK government and offshore wind industry to make different procurement approaches so more local businesses are able to supply new-generation projects. In its Norfolk Vanguard and Norfolk Boreas Offshore Wind Supply Chain: Opportunities and Expectations Workshop Report, V
The effect of the COVID-19 pandemic and the ongoing oil price war will likely cause the cancellation of more than half of the world’s planned licensing rounds, according to energy intelligence firm Rystad Energy.
Multipurpose and heavy-lift shipping is facing numerous uncertainties and is most likely to see a stagnation over the coming period, according to the UK-based consultancy Drewry. The market outlook is heavily reliant on the timing of the global economic recovery from the impact of the COVID-19 pande
