A global oversupply of oil resulting from lower demand due to the COVID-19 pandemic and high production level has seen the unprecedented shortage of storage capacities translating in high rates for floating storage. Tanker owners have been reporting high earnings for the first quarter of this year a
The world’s largest crane vessel, Sleipnir, has lifted Wintershall Dea’s Nova field topside module from the Rosenberg WorleyParsons yard in Stavanger, Norway.
With another 1,000 workers laid off earlier this week, giant oilfield services provider Halliburton has decreased its workforce by around 5,000 since the oil price collapse.
Offshore drilling company Maersk Drilling has decided to take another swing with the job axe and lay off even more staff.
Oil giant Saudi Aramco has suspended the contract for one of Noble Corporation’s offshore drilling rigs.
Despite posting a loss in the first quarter of the year, offshore drilling contractor Pacific Drilling has had an overall better first quarter than the one in the year prior, but the company is preparing itself for ‘challenging times’ ahead.
Hess Corporation booked a loss for the first quarter of 2020 due to impairment charges resulting from the low oil price environment.
State-owned Qatar Petroleum has entered into three farm-in agreements to acquire about 30 per cent of Total’s participating interest in three blocks offshore Mexico.
Murphy Oil plans to reduce its output in May by 40,000 barrels of oil equivalent per day, with the majority planned from offshore wells.
WesternGeco has completed an ocean bottom nodes multiclient survey in the North West El Amal block, offshore Egypt, for Neptune Energy.
Construction support vessel Bourbon Oceanteam 101 has completed work in Angola under its charter agreement and is preparing for its next contract.
Thailand’s PTTEP has submitted a plan for the suspension of three wells to Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).
Subsea 7 has secured a contract from Independent Oil and Gas (IOG) for the Blythe and Vulcan satellites field development in the UK Southern North Sea. The SURF contract follows the recent approval of the Phase 1 Field Development Plan by the UK Oil and Gas Authority. It includes 35 kilometres of fl
Equinor recorded a loss in the first quarter of the year due to low oil prices and impairments of $2.5 billion but delivered a record-high production during the period.
