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Norden had its best first quarter since 2015
Although the first quarter of this year was characterised by weak spot rates in dry cargo and strong spot rates in tankers, Danish shipping company Dampskibsselskabet Norden A/S delivered an adjusted...
View ArticlePetrofac bags $100 million in contract renewals
Petrofac, an oilfield services provider, has secured contract renewals in the UK totalling $100 million. Petrofac’s Engineering & Production Services business (EPS) has been awarded two three-year...
View ArticleAker BP swings to loss over impairment charges
Norwegian oil and gas company Aker BP sank to a net loss in the first quarter of the year after being hit by impairments due to a significant decline in oil and gas prices. However, the company saw a...
View ArticleOil & gas regulator to support UK’s target to reach net zero by 2050
The UK Oil and Gas Authority (OGA) has revealed its intention to help the government achieve the target of net zero greenhouse gas emissions by 2050. OGA said on Wednesday that maximising economic...
View ArticleMaersk Supply to axe jobs amid negative development in oil and gas market
Maersk Supply Services, a Danish offshore supply vessel provider, has decided to reduce its onshore organization due to challenging oil and gas market situation. In response to the negative...
View ArticleDeepsea Yantai rig cleared to drill in North Sea for Neptune
Norwegian offshore safety body, the Petroleum Safety Authority (PSA), has given its consent to Neptune Energy for exploration drilling in the North Sea using the Deepsea Yantai semi-submersible...
View ArticleEquinor sinks to quarterly loss due to low prices and impairments
Norwegian oil and gas company Equinor recorded a loss in the first quarter of the year due to low oil prices and impairments of $2.5 billion but delivered a record-high production during the period....
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Subsea 7 nets IOG North Sea SURF
Source: IOG Subsea 7 has secured a contract from Independent Oil and Gas (IOG) for the Blythe and Vulcan satellites field development in the UK Southern North Sea. The SURF contract follows the recent...
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PTTEP submits plan for suspension of three wells in Australia
Thailand’s PTTEP has submitted a plan for the suspension of three wells to Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA). Location of the wells;...
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Euronav posts massive surge in Q1 profit
Antwerp-based tanker shipping company Euronav is reaping large profits from strong underlying tanker dynamics having reported $225.6 million of profit in the first quarter of 2020. The figure is a...
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CSV Bourbon Oceanteam 101 completes Angola job
Bourbon Oceanteam 101 construction support vessel has completed a charter agreement in Angola and is preparing for its next contract. Bourbon Oceanteam 101; Source: Oceanteam Oceanteam said on...
View ArticleRig impairments take Noble Corp. deeper into the red
Offshore drilling contractor Noble Corporation saw its quarterly net loss deepen after being negatively affected by rig impairment charges amid lower demand as a result of the coronavirus pandemic and...
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WesternGeco surveys Egyptian block for Neptune Energy
WesternGeco has completed an ocean bottom nodes (OBN) multiclient survey in the North West El Amal block, offshore Egypt, for Neptune Energy. Neptune said on Thursday that the North West El Amal...
View ArticleMurphy Oil plans to curb May output by 40,000 bpd, moves HQ to Houston
Oil and gas company Murphy Oil plans to reduce its output in May by 40,000 barrels of oil equivalent per day, with the majority planned from offshore wells. Murphy is also closing two of its offices...
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Qatar Petroleum farms into Total’s blocks in Mexico
State-owned Qatar Petroleum has entered into three farm-in agreements to acquire about 30 per cent of Total’s participating interest in three blocks located offshore Mexico. Location of the blocks;...
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Analysts warn of multi-year blow in umbilicals segment
Rystad Energy The Covid-19 pandemic could see demand for umbilicals fall by 32 per cent this year, Rystad Energy impact analysis reveals. According to Rystad, expected demand could fall to just 713...
View ArticleHess posts $2.4 billion loss
Oil and gas company Hess Corporation booked a loss for the first quarter of 2020 due to impairment charges resulting from the low oil price environment. Hess on Thursday reported a net loss of $2.4...
View ArticlePacific Drilling improves in first quarter but expects challenging times ahead
Despite posting a loss in the first quarter of the year, offshore drilling contractor Pacific Drilling has had an overall better first quarter than the one in the year prior, but the company is...
View ArticleSaudi Aramco suspends Noble Scott Marks jack-up rig
Oil giant Saudi Aramco has suspended the contract for one of Noble Corporation’s offshore drilling rigs. Noble Corp. said in its financial report on Wednesday that the contract for the Noble Scott...
View ArticleMaersk Drilling in new round of layoffs
Offshore drilling company Maersk Drilling has decided to take another swing with the job axe and lay off even more staff. Maersk Drilling said on Thursday that the new wave of layoffs, as well as a...
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