Oil price hits highest levels since March over vaccine hopes
Brent crude oil prices reached highest levels since March as news of another promising coronavirus vaccine raised hopes of a quicker recovery in oil demand, while U.S. President-elect Joe Biden...
View ArticleJersey gains full control of North Sea asset with CIECO V&C buy
North Sea-focused Jersey Oil & Gas (JOG) has entered into a conditional sale and purchase agreement (SPA) to acquire the entire issued share capital of CIECO V&C, which will give it full...
View ArticleUN gets green light to inspect the decaying supertanker FSO Safer in Yemen
The United Nations has received official approval from the Houthi authorities in Yemen to carry out the planned expert mission to the decaying FSO Safer oil tanker, which poses a danger of massive oil...
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NBO delivers first domestic deep-water umbilical project in China
Ningbo Orient Cable (NBO) has completed the delivery of the LH 29-2 deep-sea SPS umbilical project for China National Offshore Oil Corporation (CNOOC). This is the first deep-water static umbilical...
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BP and Ithaca produce first oil from North Sea project
Partners BP and Ithaca Energy have started production from the Vorlich development, located in the UK North Sea. The project was the target of environmental protests back in 2019. Ithaca’s FPF-1...
View ArticleKeppel wins $74.7 million FPSO conversion deal
Singapore’s offshore rig and vessel builder Keppel Offshore & Marine Ltd (Keppel O&M) has won a contract from a repeat customer worth about S$100 million ($74.7M) for the fabrication and...
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Shell nearing Prelude FLNG restart?
LNG giant Shell could be gearing up to restart production from its Prelude FLNG facility offshore Western Australia. LNG carrier Galina delivering initial cooldown cargo to Prelude FLNG (Courtesy of...
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Repsol reveals new strategic plan to accelerate energy transition
Spanish oil company Repsol has unveiled its 2021 – 2025 strategic plan which will advance its net-zero emissions objective. Repsol said on Thursday that the new strategy would be highly flexible...
View ArticleCGG and Magseis Fairfield wrap up Cornerstone OBN survey
CGG and Magseis Fairfield have completed the 2020 acquisition of the largest OBN survey ever acquired in the North Sea. The OBN Cornerstone 2020 multi-client survey in the UK Central North Sea...
View ArticleTalos struggling to reach steady production at Gulf of Mexico field
Houston-based oil and gas company Talos Energy has encountered difficulties in reaching stabilized production from the Bulleit field located in the U.S. Gulf of Mexico following a shut-in and damages...
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Cairn Energy picks new chairperson
A new chairperson of oil and gas company Cairn Energy would join the company with effect from 1 January 2021. Nicoletta Giadrossi Cairn said on Friday that Nicoletta Giadrossi was appointed as the...
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DNV GL suspends Nord Stream 2 work dreading U.S. sanctions
Classification society DNV GL has suspended work on Gazprom’s Nord Stream 2 gas pipeline project over fears of sanctions by the United States. The United States want to stop the project as it fears...
View ArticleBPC sees increase in costs of Perseverance #1 well over virus mitigation...
London-listed oil company Bahamas Petroleum Company (BPC) has raised the cost estimates for the drilling operation of its Perseverance #1 off the Bahamas citing Covid-19 mitigation measures. BPC said...
View ArticleSchlumberger workers in Norway to strike over pay and working conditions
Some 262 oil service workers at Schlumberger’s Norwegian entity plan to go on strike from 3 December if negotiations with employers over pay and working conditions fail. According to the Norwegian...
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Petronas posts nine-months loss
Malaysian energy giant Petronas posted a loss for the nine months of 2020. Courtesy of Petronas The company reported a loss after tax of 19.9 billion Malaysian Ringgit ($4.89 billion), mainly due to...
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Frontera, CGX pushes back Guyana drilling by one year
Joint venture partners in the Corentyne block offshore Guyana – Frontera Energy and CGX Energy – have concluded collaborative discussions with the Government of Guyana concerning the rescheduling of...
View ArticleEquinor gearing up for fresh Barents Sea well
Norwegian oil and gas company Equinor has received consent from the country’s offshore safety authority to drill an exploration well in the Barents Sea using the Transocean Enabler rig. The Petroleum...
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Immediate clean energy investment to create 100,000 North Sea jobs by 2050
The OGTC and the Offshore Renewable Energy Catapult have warned that the UK offshore energy sector would miss the opportunity to be a global leader in clean energy if it does not invest in technology...
View ArticleGazprom to resume Nord Stream 2 pipe-laying before year-end
Gas giant Gazprom has decided to resume pipe-laying work before the end of 2020 on a 2.6-kilometre part of the stalled Nord Stream 2 gas pipeline from Russia to Germany. According to a Reuters...
View ArticleBorr Drilling faces challenging financial situation amid payment delays in...
Offshore drilling contractor Borr Drilling is facing a very challenging financial situation in 4Q and going into 2021 amid difficult market environment combined with payment delays for its rigs...
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