oil price - Offshore Energy

long read

17 days ago

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Offshore wind project costs decrease with bespoke vessels and lower oil & gas activity

The rising number of purpose-built offshore wind vessels has a direct impact on the costs of offshor...

17 days ago

long read

19 days ago

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Oil & gas after 2020: Will the latest downturn lead to permanent transformation?

Following its third price collapse in 12 years, the oil and gas industry might be facing a period of...

19 days ago

about 1 month ago

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Marine seismic industry in numbers after exploration capex slash

The low oil price has led energy companies to scale back near-term investment plans significantly, a...

about 1 month ago

long read

2 months ago

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Will Chevron’s Noble Energy swoop trigger a wave of M&A deals in oil & gas sector?

What will happen next in the upstream M&A and what direction will it take? Is now the time to go...

2 months ago

Number of oil and gas wells set to hit 20-year low, Rystad says

The COVID-19 pandemic has stymied oil and gas activity, a phenomenon which has now affected the dril...

2 months ago

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3 months ago

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Covid-19 crisis setting the stage for restructuring of offshore drilling market

There is a case to be made that the coronavirus crisis has been setting the stage for the restructur...

3 months ago

long read

3 months ago

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OPEC+ extends output cuts in push to tighten oil market

OPEC, Russia, and other oil producers agreed to extend their record oil production cuts of 9.7 milli...

3 months ago

4 months ago

Prosafe dives deeper into the red over impairment charges

Prosafe sank deeper into the red in the first quarter of 2020 due to impairment charges resulting fr...

4 months ago

Low oil prices could play pivotal role in boosting decommissioning spending, Rystad says

With few profitable investment alternatives, operators are now likely to increase spending in decomm...

4 months ago

Wintershall Dea books quarterly loss, cuts capex

Wintershall Dea has decided to reduce its capital expenditures for 2020 by 30 per cent after bookin...

4 months ago

Petrofac reveals fresh cost-cutting plans

In order to mitigate the effects of coronavirus crisis and low oil prices, oilfield services provide...

4 months ago

Sembcorp Marine’s yard workforce down from 20,000 to 850 due to COVID-19 restrictions

Yard workforce employed by Singapore’s offshore builder Sembcorp Marine has been reduced from 20,000...

4 months ago

Impairments take Transocean deeper into the red

Transocean recorded a wider loss in the first quarter of 2020 when compared to the same period last...

4 months ago

Lundin lifts output forecast as quarterly revenues grow

Lundin Energy saw its quarterly revenues grow on the back of Johan Sverdrup start-up. As a result of...

4 months ago

Norway to introduce oil output cuts until end of 2020

The Norwegian Government has decided to make oil production cuts in an attempt to more rapidly stabi...

4 months ago

New projects boost CNOOC output but revenues slip on low oil prices

CNOOC saw an increase in its quarterly production driven by new project startups in China and the co...

4 months ago

UK unions call on gov’t to halt ‘carnage’ of oil & gas jobs

UK’s offshore unions have launched a campaign to protect the jobs in the oil and gas sector an...

4 months ago

OKEA dives deeper into the red

OKEA sank deeper into the red in the first quarter of the year affected by lower oil and gas prices ...

4 months ago

5 months ago

BP profit slips on demand destruction and low prices

BP reported a significant decline in its quarterly profit due to lower prices and the destruction of...

5 months ago

Eni posts $3 billion loss, lowers production target due to capex cuts

Eni booked a net loss of over $3 billion in the first quarter of the year due to the overlapping eff...

5 months ago

Maersk Drilling to reduce offshore crew as North Sea rigs go into stack mode

Maersk Drilling has decided to stack a number of its North Sea drilling rigs to adapt to the changin...

5 months ago

long read

5 months ago

UK to avoid shut-ins even with $20 oil prices, Rystad says

With the reality that Brent oil prices are scratching closer and closer to $20 per barrel, shut-ins ...

5 months ago

Impairments push Halliburton into $1 billion loss

Giant oilfield services provider Halliburton booked a $1 billion loss in the first quarter of this y...

5 months ago

ConocoPhillips reveals plans for more cost cuts amid market downturn

ConocoPhillips is taking further actions to respond to the oil market downturn and it will be making...

5 months ago

Petrobras to shut down 62 offshore platforms in Brazil

Petrobras has decided to halt operations at 62 platforms located offshore Brazil due to the effects ...

5 months ago

Noble Energy makes further spending cuts

Noble Energy has further reduced its 2020 capex, executive team salaries, and implemented a furlough...

5 months ago

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