Shell has decided to slash its dividend after seeing its quarterly profit nearly halved when compared to the last year’s quarter amid a dramatic decline in oil price.
Norwegian oil and gas company Equinor has drilled a dry well near the Oseberg field in the North Sea off Norway.
Oil and gas company Spirit Energy has received consent from the offshore safety body, the Petroleum Safety Authority (PSA), for exploration drilling in the Barents Sea using the Leiv Eiriksson drilling rig.
Singapore’s offshore rig and vessel builder Keppel Offshore & Marine saw its quarterly profit halved despite an increase in revenues.
Russian gas giant Gazprom reported a 17 percent drop in 2019 net profit due to lower prices and declining demand in Europe. Gazprom’s net profit reached 1.2 trillion Russian roubles ($16.3 billion) last year. This compares to 1.46 trillion roubles in 2018. Operating profits also fell by 42 per cent
UK oil and gas company Corallian and its joint venture partners, Upland Resources and Baron Oil, have signed a work-sharing and confidentiality agreement with an undisclosed “large European E&P company” for licence P2478 in the Inner Moray Firth which could lead to a future farm-out deal.
CNOOC saw an increase in its quarterly production driven by new project startups in China and the contribution from new international projects.
Dutch energy company Eneco has joined as a partner the PosHYdon pilot, the world’s first offshore green hydrogen project, Neptune Energy said. Eneco will supply simulated wind data from its Luchterduinen offshore wind farm to support the project which aims to integrate three energy systems in the No
Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has approved Inpex’s plan for significant modifications on the Ichthys LNG project off Australia.
Equinor has extended the charter for a Floatel International-owned accommodation rig for operations on a field offshore Norway.
UK’s offshore unions have launched a campaign to protect the jobs in the oil and gas sector and secure its future, calling for a halt to the “carnage” of jobs.
A partnership consisting of Portugal’s Mota-Engil and Besix of Belgium has secured a contract for the Total-led $20 billion Mozambique LNG export project. Under the deal, the 50/50 partnership will build a pier bridge and an offloading facility for about $365 million, according to a Mota-Engil state
The International Monetary Fund (IMF) and the Government of Gabon have reached an agreement for a $147 million facility to help the country address the challenges that have arisen due to the global COVID-19 pandemic and oil price crash.
Neptune Energy has kicked off its Fenja drilling campaign, located offshore Norway, following the spud of the first well.
