BP said on Tuesday that oil output at its projects in Azerbaijan declined to 524,000 barrels per day (bpd) in the first quarter of 2020 from 571,000 bpd a year earlier.Associated gas output at the Azeri-Chirag-Guneshli (ACG) oilfields was 7…
Inpex Corp, Japan's top oil and gas company, on Tuesday cut its annual net profit forecast by 93% after first-quarter earnings slumped due to an oil price collapse and as the coronavirus pandemic choked off international energy demand.The group…
Brazilian oil firm Petrobras has said it has made oil discoveries in the pre-salt areas of the Santos and Campos Basins offshore Brazil.Petrobras said Monday it had discovered oil of excellent quality in the southeast area of the Búzios field in the Santos Basin pre-salt…
The German government, coastal states, and maritime authority BSH have agreed an offshore wind industry deal raising the new expansion target to 20 gigawatts (GW) by 2030 from currently 15 GW, the economy ministry said in a statement on Tuesday…
The Norwegian government has cut its oil price assumption for 2020 to 331 Norwegian crowns ($32.17) per barrel from 476 crowns last October, a revised budget showed on Tuesday.Norway is Western Europe's largest oil and gas producer, with petroleum…
None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday.The Transition Pathway Initiative (TPI),…
Oil and gas firm Kosmos Energy on Monday said that Neal D. Shah would become the company’s Senior Vice President and Chief Financial Officer effective May 11, 2020.The management change comes following Kosmos Energy's announcement back in February that Thomas P…
LOC has won a contract to provide Marine Warranty Services (MWS) to support transport and installation operations for the development of the Jieyang II windfarm. The Jieyang II windfarm will consists of 64 wind turbines, with an installed capacity of 350MW…
UK-based oilfield services company Petrofac has been awarded a three-year extension to a maintenance contract and a new four-year metering contract with the oil major BP.Petrofac said Tuesday that the metering services contract included on and offshore consulting and support services…
'The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three-quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s $11…
Danish offshore vessels owner ESVAGT will cut executive and staff pay, and delay investments in response to the low oil prices and the COVID-19 pandemic.Peter Lytzen, the CEO of the company that provides emergency response and rescue vessels (ERRV) and service operation vessels (SOV)…
Norwegian marine seismic acquisition company PGS has begun a new multi-azimuth marine seismic survey in the North Sea, offshore Norway. The industry-funded survey- conducted by seismic vessel Ramform Vanguard - extends the GeoStreamer X area within the Viking Graben by 1160 sq…
Serica Energy has hired Awilco Drilling's WilPhoenix semi-submersible drilling rig for the intervention work on the Rhum-3 ('R3') well in the UK North Sea.The 3rd-Generation, Enhanced Pacesetter, harsh-environment, mid-water, semi-submersible…
Engineering and project management firm Penspen has won an engineering services contract by Target Engineering Construction Co LLC for slug catcher replacement support on a project on Zirku Island in UAE.The Penspen contract is for work on the island’s Satah slug catcher replacement project…
Saudi Arabia will voluntarily deepen oil output cuts from June as low oil prices are causing huge pain to the kingdom's budget and global demand remains weak due to lockdowns to contain the coronavirus pandemic.The announcement by the kingdom…
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