Petronas's first-quarter profit more than doubled on the back of recovering commodity prices, but the Malaysian state oil firm cautioned demand prospects hinged on vaccines preventing a resurgence of the COVID-19 pandemic.Petronas said on Monday it made a post-tax profit of 9…
Indian offshore drilling rig owner Aban Offshore has resumed operations at its Aban IV jack-up drilling rig following a suspension due to a Covid-19 outbreak.Aban Offshore had suspended operations on the 1983-built, 2011-refurbished offshore drilling rig in the first week of May…
Exxon Mobil Corp expects up to $200 million in charges this year related to job cuts in an era of cost savings, according to a regulatory filing.The biggest U.S. oil producer has slashed costs, delayed projects and said it could trim an estimated 14…
Siemens Energy, which supplies turbines to the power sector, on Wednesday lowered the upper end of its target range for 2021 sales, hurt by weaker-than-expected demand, project delays, and the ongoing coronavirus crisis.Revenues are now expected to grow 3-8% in the year to September…
Jack-up drilling rig contractor Shelf Drilling has secured a contract in India for its Trident XII jack-up drilling unit. The contract is with the Indian oil company ONGC. Under the three-year contract, the Trident XII drilling rig will be used…
Indian offshore drilling contractor Aban Offshore has suspended operations at one of its jack-up rigs citing Covid-19 outbreak.In a brief announcement on Monday, Aban Offshore said: 'We hereby inform you that one of our rigs 'Aban IV ' has suspended operations owing to outbreak of COVID-19…
Oil prices rose on Friday on hopes of a fuel demand recovery in the United States and Europe as economic growth picks up and lockdowns ease, but worries about India's raging second wave of COVID-19 cases kept a lid on gains.Brent crude futures rose 21 cents…
Woodside Petroleum's outgoing boss said on Friday his replacement will face two company-defining challenges: replacing its aging assets and managing the transition to cleaner energy.Australia's top independent gas producer is betting its future on the $11 billion Scarborough gas project…
BP expects to reach its $35 billion net debt target in the first quarter of 2021, the energy group said on Tuesday, following earlier-than-expected proceeds from disposals and a 'very strong' quarter.The company, which had a debt pile of $39 billion at the end of 2020…
The Chinese-built hybrid accommodation vessel MWV Falgout has been delivered to end client Brunei Shell Petroleum.The 80-meter vessel, a new purchase for Bruneian owners JISCO Marine Sdn Bhd, will be employed on long-term charter for the Bruneian oil and gas company…
Malaysian state oil firm Petronas fell to a fourth-quarter loss on Friday hurt by lower oil prices and demand.Petronas announced in a virtual briefing a 1.1 billion ringgit ($272 million) loss after tax for the October-December quarter versus a profit of 4…
Malaysian FPSO specialist Bumi Armada has amended the maturity of a portion of the $660 loan from 2019, citing the impact of the coronavirus pandemic on its business.Bumi Armada said the loan agreement has been amended on to extend the final…
ExxonMobil added a new director to its board after months of investor pressure and the top U.S. oil producer on Tuesday also posted its first annual loss as a public company due to the COVID-19 pandemic hammering energy prices.Tan Sri Wan Zulkiflee Wan Ariffin…
Oil prices climbed nearly 5% on Tuesday after news that Saudi Arabia will make voluntary cuts to its oil output, while international political tension simmered over Iran's seizure of a South Korean vessel.Brent crude futures rose $2.51, or 4…
Oil production in Russia declined last year for the first time since 2008 and reached its lowest level since 2011 following a global deal to cut output and sluggish demand caused by the coronavirus, statistics showed on Saturday.Russian oil and gas condensate output declined to 10…