Dutch offshore services provider Fugro has said it has received $17.3 million from the sale by Global Marine Group of a 30% stake in Huawei Marine Networks (HMN) to Hengtong Optic-Electric Co Ltd. The proceeds are in addition to EUR 34.0 million…
Prysmian, the world's largest cable maker, pledged on Friday to raise the share of revenues from low carbon products to 50% by 2022 as part of plans to cut its carbon footprint.The Italian company, which supplies cables for industries ranging…
Production at Israel's offshore Leviathan natural gas field will resume in the coming hours after an emergency shutdown on Saturday, the project's operator Noble Energy said [on Saturday].The platform's flare system had been activated to burn off excess gas…
Commodities trader Trafigura has seized the moment and taken a rare dominant position in the North Sea crude market over the past two weeks as oil demand jumped, trading sources said.A combination of OPEC-led global production cuts, cheap freight rates…
Malaysian state oil firm Petronas posted a 68% slump in first-quarter profit on Friday and said it would cut capital expenditure and operating expenses as it braces for a big hit to its full-year performance due to the coronavirus pandemic.Petronas…
An English court threw out a $1.1 billion case Nigeria had brought against Royal Dutch Shell and Eni related to a dispute over the OPL 245 oilfield, a court document showed on Friday, while a related trial in Italy continues.The Nigerian government…
At these difficult times when companies involved in the offshore industry are cutting jobs across the board as one of the ways to preserve cash, there's one offshore vessel operator that, while indeed cutting salaries, is keeping the jobs in place…
innogy Renewables Ireland, the joint developer of Dublin Array Offshore Wind Farm, has this week welcomed the announcement by Ireland's Minister of State, Damien English TD, of a clear road map for the development of offshore wind energy in Ireland…
South Korean shipbuilder Daewoo Shipbuilding Marine and Engineering (DSME) has received an order for a large liquefied natural gas (LNG) floating storage regasification unit (FSRU).In a statement on the Korea Exchange, DSME said the contract was worth around 411 billion South Korean Won…
Oilfield services company Archer has won a contract for the provision of modular drilling unit and associated services aboard TAQA's Cormoran Alpha platform in the UK North Sea.Archer's rig has been contracted by TAQA to perform a twenty-one…
Woodside Petroleum will improve the quality of Vincent crude by increasing its flash point from July so that it can be blended into very low sulphur fuel oil (VLSFO) and capture higher premiums, two sources told Reuters.Among crude grades, heavy sweet oil…
Jack-up drilling company Borr Drilling has started talks with creditors and shipyards to defer certain payments and is looking to sell some modern drilling rigs to boost its liquidity. The company has said it has executed a company-wide cost…
Norway's oil output jumped more than expected in April, the Norwegian Petroleum Directorate (NPD) said on Wednesday, while forecasts for the remaining year's production were cut in line with the government's decision following May's OPEC+ meeting…
Oilfield services and equipment provider National Oilwell Varco said Wednesday that its Board of Directors elected to suspend the quarterly dividend until further notice.Clay Williams, Chairman, President, and CEO said: 'With the view that capital…
2H Offshore, an Acteon company, has completed the installation of a lightweight, conductor supported, minimum facility wellhead platform offshore Sarawak, Malaysia.The company was responsible for the concept, detailed design, transportation…