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27 oil tankers with nowhere to unload parked off Californian coast
Source: USCG There are 27 oil tanker vessels with more than 20 million barrels of crude anchored off the coast of Southern California, waiting to offload their cargoes as coronavirus pandemic shatters...
View ArticleMaersk Drilling to reduce offshore crew as North Sea rigs go into stack mode
Offshore drilling contractor Maersk Drilling has decided to stack a number of its North Sea drilling rigs to adapt to the changing market environment. As a result, Maersk will be reducing its offshore...
View Articlei3 Energy in talks with noteholders to waive condition for Liberator funding
UK independent i3 Energy is in talks with its noteholders to waive its previously agreed condition, requiring it to enter into a lending facility or find alternative means to fund its Liberator...
View ArticleSeabed Geosolutions puts Eidesvik’s vessel on standby
Norwegian shipping company Eidesvik Offshore and Seabed Geosolutions have agreed to change the contract for the node-handling vessel Subsea Viking, putting it on standby. Eidesvik said on Friday that...
View ArticleBahri’s Q1 2020 earnings soar amid higher rates
The world’s largest owner and operator of very large crude oil carriers (VLCCs) Bahri reported a massive jump of 133.77 percent in its profit for the first quarter of 2020 despite COVID-19 challenges....
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‘Founding father’ of Soviet oil industry and Lukoil chairman passes away
Long-time chairman of Russian oil and gas company Lukoil and “founding father” of the Soviet oil industry has passed away following a long illness. Valery Grayfer; Source: Lukoil Lukoil said on Friday...
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Perenco files decommissioning plan for four Amethyst topsides
Oil and gas company Perenco has submitted its draft decommissioning programs for four Amethyst gas field topsides to the UK authorities. Amethyst location; Source: Perenco The Amethyst gas field is...
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Eni posts $3 billion loss, lowers production target due to capex cuts
Italian oil and gas company Eni booked a net loss of over $3 billion in the first quarter of the year due to the overlapping effects of the coronavirus pandemic and the oil price collapse. Eni CEO...
View ArticleNYSE to delist Diamond shares after bankruptcy filing
Following its filing for Chapter 11 bankruptcy protection, offshore drilling contractor Diamond Offshore Drilling has received a delisting notice from the New York Stock Exchange (NYSE). According to...
View ArticleBP profit slips on demand destruction and low prices
Oil major BP reported a significant decline in its quarterly profit due to lower prices and the destruction of oil demand by the coronavirus crisis. BP on Tuesday posted an underlying replacement cost...
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BW Offshore mulls FPSO layup after new Petrobras extension expires
FPSO operator BW Offshore has signed an agreement with Petrobras for an extension of the lease and operation of BW Cidade de São Vicente in Brazil. FPSO Cidade de São Vicente; Image: BW Offshore BW...
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Petrobras production up despite global recession and health crisis
The negative effects of the global recession caused by the public health crisis did not substantially impact Petrobras’ production and sales performance in the first quarter, according to the...
View ArticleOKEA dives deeper into the red
OKEA, a Norwegian oil and gas company, sank deeper into the red in the first quarter of the year affected by lower oil and gas prices and sales volumes resulting in impairments of over $60 million....
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Neptune kicks off Fenja drilling campaign
Neptune Energy has kicked off its Fenja drilling campaign, located offshore Norway, following the spud of the first well. Fenja project development Fenja is Neptune’s first operated development...
View ArticleEastMed pipeline project seeks offshore EPCI players
IGI Poseidon has rolled out a tender for EPCI activities related to offshore sections of EastMed pipeline project. IGI Poseidon is a 50:50 joint venture between Public Gas Corporation of Greece (DEPA)...
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IMF loan to aid Gabon’s recovery from oil price crash and coronavirus
The International Monetary Fund (IMF) and the Government of Gabon have reached an agreement for a $147 million facility to help the country address the challenges that have arisen due to the global...
View ArticleMota-Engil, Besix score Mozambique LNG deal
A partnership consisting of Portugal’s Mota-Engil and Besix of Belgium has secured a contract for the Total-led $20 billion Mozambique LNG export project. Under the deal, the 50/50 partnership will...
View ArticleAker Solutions, Ocean Installer load Liuhua umbilicals
Aker Solutions and Ocean Installer have completed umbilical loadout for CNOOC Liuhua project ten days ahead of schedule. Six umbilicals totaling 115 kilometers have been loaded onto the CSV Connector...
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Diamond files complaint against Beach over ‘invalid’ rig contract termination
Offshore drilling contractor Diamond Offshore has filed a complaint against Australia’s Beach Energy claiming that the oil company’s termination of a drilling contract for the Ocean Onyx rig is...
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Floatel gets charter extension on Martin Linge field
Norwegian oil and gas company Equinor has extended the charter for a Floatel International-owned accommodation rig for operations on a field offshore Norway. Floatel Endurance; Source: Floatel Equinor...
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