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…
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…
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…
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…
Norwegian oil firm Aker BP has started production from the first Ærfugl phase 2 well in the Norwegian Sea, which is, according to the company, three years ahead of the original plan. The Ærfugl field produces via Skarv FPSO approximately 210 km west of Sandnessjøen…
The UK-based subsea well decommissioning specialist Well-Safe Solutions has awarded a contract to Fugro for the supply of an integrated marine-based solution onboard its Well-Safe Guardian offshore rig.The Well Safe Guardian is Well-Safe Solutions’…
After recently delaying projects in Vietnam, London-listed oil company Jadestone Energy has decided to postpone infill drilling programs at its Stag and Montara offshore fields in Australia, in a move to reduce cash spending due to the oil price rout…
Investors are in for more bad news on the energy front in the coming weeks as a host of the sector's biggest companies report quarterly results following the historic collapse in oil prices.Forecasts for U.S. energy sector earnings this year have dropped along with oil prices…
Offshore oil driller Valaris PLC is preparing to start talks with creditors to see if they can agree on terms for a possible bankruptcy filing, as it grapples with a $6.5 billion debt burden and an unprecedented plunge in U.S. crude prices, people familiar with the matter said on Tuesday…
Offshore drilling contractor Valaris is facing delisting of its shares from the New York Stock Exchange over noncompliance with continued listing standards.Valaris, the world's largest offshore drilling company by fleet size, said Tuesday it…