ConocoPhillips said on Thursday it would slash planned spending 35%, cut production by about 225,000 barrels of oil per day {bpd) and suspend its share repurchase program to weather the collapse in oil prices.Oil and gas producers have sunk…
Oilfield services provider Baker Hughes Co said on Monday it will take a $1.5 billion charge to its first-quarter earnings, write down the value of its oilfield business and slash this year's capital spending by 20%.Oil and gas producers have cut 2020 spending by about 30%…
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the blended impact of COVID-19 on oil and gas activities and the oil price war, Rystad Energy said Tuesday.These wells, the Norwegian energy intelligence firm said…
Offshore services company Oceaneering has won a contract to complete seabed route and debris clearance for the Moray East Wind Farm project in the Moray Firth, Scotland.The contract, of an undisclosed value, has been awarded by Moray Offshore Windfarm (East) Limited (MOWEL)…
Franco-American oil services firm TechnipFMC Plc said on Wednesday it will cut its planned capital expenditures for 2020 by 30% to $300 million in response to current oil market conditions.TechnipFMC said it was taking decisive action to address…
Dutch state-owned grid operator Tennet has informed that the Borssele Beta offshore substation has sailed away to the Borssele Area in the Dutch North Sea, where it will be placed on a subsea jacket by a crane vessel later this week.The topside is 25 meters high…
RWE, Europe's third-largest renewables group, is partnering with Taiwan's Asia Cement Corp to enter one of the strongest-growing offshore wind markets outside Europe, its renewable arm said on Thursday.The partnership is for the Chu Feng offshore wind project…
The world's most powerful semi-submersible crane vessel received the largest liquefied natural gas (LNG) bunkering ever completed.On Thursday, Titan LNG performed the bunkering of Heerema's Sleipnir, using the Coral Fraseri, Anthony Veder's LNG carrier in the Port of Rotterdam…
Dutch state-owned grid operator Tennet has said that the topside of the offshore transformer platform for the Borssele III and IV wind area in the Dutch North Sea is ready for the sailaway.Dubbed the offshore power socket, Borssele Beta, will…
An offshore drilling rig worker, employed on a Maersk Drilling rig in Australia, tested positive to coronavirus after going to overseas home, oil and gas company Inpex has informed.'On 22 March we became aware that a person who recently worked…
Sleipnir, the world's largest semi-submersible crane vessel, has arrived in the Port of Rotterdam for the first time since its delivery from Singapore last year.Heerema Marine Contractors, the Netherlands-based offshore installation company…
A major sale of oil and gas leases in the U.S. Gulf of Mexico on Wednesday generated $93 million in high bids, the lowest total for any U.S. offshore auction since 2016, reflecting caution in the drilling industry amid a steep slide in oil prices…
Offshore drilling contractor Dolphin Drilling has signed a drilling contract for one of its semi-submersible offshore drilling rigs in the UK North Sea with oil company i3 Energy.Bjørnar Iversen, CEO of Dolphin Drilling said the contract was…
Swiss bank UBS won't fund new offshore oil and gas projects in the Arctic, and will 'enhance due diligence' on some deepwater drilling projects.In a statement on Thursday, UBS said it had, in 2019, reduced carbon-related assets on its balance sheet to USD 1…
UK-focused oil firm Independent Oil and Gas has said that it remains in talks with CalEnergy over the latter's participation in IOG's North Sea blocks.Namely, CalEnergy Resources, part of Berkshire Hathaway Energy, had an option to acquire a…
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