Offshore accommodation rig provider Floatel International has seen its contract with Ineos FPS delayed.Floatel said Thursday that the two companies have agreed to postpone the charter for the Floatel Victory accommodation unit at the Unity platform in the UK North Sea to April 2021…
The UK-based oilfield services firm Petrofac has won more work from Repsol Sinopec Resources UK for offshore maintenance operations on oil platforms in the UK North Sea.Petrofac said Thursday it was preparing to extend its provision of operations…
Offshore installation contractor Subsea 7 has won a 'substantial' contract for work on the first subsidy-free offshore wind farm in the Netherlands.The company has been tasked by Vatenfall to transport and install wind turbine monopile foundations…
Singapore-based offshore drilling rig builder Keppel Offshore & Marine has delivered a newbuild jack-up drilling rig to Norway's Borr Drilling.The rig, named Hild, was built to Keppel's KFELS Super B Class design. The Hild is the sixth jack-up that Keppel has delivered to Borr Drilling…
The Trump administration will not make a broad cut to the royalty rate oil and gas companies must pay on their offshore drilling operations despite a historic oil price collapse that has put the industry in crisis, a Gulf Coast lawmaker briefed on the matter told Reuters on Wednesday…
Norwegian oil firm Equinor will cut its quarterly dividend payment by two-thirds as part of an effort to preserve cash amid the collapse in crude prices, it said on Thursday.The first-quarter cash payout to shareholders will be $0.09 per share…
Chevron Corp has been banned from drilling or transporting oil in Venezuela and its assets there are 'mothballed' as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said on Wednesday…
Italian oil services group Saipem said on Thursday it could not offer new guidance for the year because of the highly unstable environment created by the COVID-19 pandemic and falling oil prices.Last week the group pulled its 2020 outlook saying…
Norwegian offshore vessel operator DOF has warned that several of its vessels might be laid up after the end of their current contracts, citing lack of new work opportunities amid the oil price rout and COVID-19 pandemic effects. On a positive note…
Royal Dutch Shell has postponed decisions on whether to go ahead with two large oil and gas developments in the Gulf of Mexico and North Sea after oil prices collapsed due to the coronavirus crisis, a company source said on Wednesday.The Anglo…
Oilfield firm Baker Hughes Co reported a $10 billion loss and lower-than-expected revenue in the first quarter on Wednesday as an 80% plunge in oil prices crushed demand for services and equipment.Oil futures this week turned negative for the…
Germany-based energy firm innogy has sold its offshore installation vessel ‘Seabreeze II’ to Hong Kong-based firm SPIC Ronghe International Financial Leasing Co. Ltd. Richard Sandford, Director of Offshore Investment & Asset Management at innogy…
EnBW Baltic 2 one of Germany’s largest offshore wind farms in the Baltic Sea will soon be serviced from the Danish port of Klintholm on the island of Møn, EnBW said Tuesday. The company has so far had its service team of up to 25 people travel…
The U.S. SEC has closed its investigation into Eni over the Italian oil major's activity in Nigeria and the Congo without recommending further action, Eni said on Wednesday.'Based on the information currently available to the SEC, it is otherwise…
Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.Brent crude…