Subsea cables, laid on the seafloor to carry telecommunication signals across ocean and sea, represent the critical internet infrastructure. Like all other markets the subsea cables market has felt the impact of the ongoing pandemic of Covid-19, which has in the last couple of months reshaped our li
Hit by the Covid-19 downturn, the oilfield service market is not likely to rebound to last year’s activity level until 2023, according to a Rystad Energy analysis.
What will happen next in the upstream M&A and what direction will it take? Is now the time to go on the first buying spree after the COVID-19 outbreak and get the high-value goods at a bargain price? Chevron might agree.
Oman’s Ministry of Oil and Gas has approved Masirah Oil’s field development plan (FDP) for the offshore Yumna field.
Qatar’s Nakilat, the world’s largest LNG shipper, reported a 15.5 percent rise in first-half profit as it reduced administrative costs and purchased stakes in four vessels. The Qatari LNG shipping giant posted a net profit of 550 million riyals ($151 million) compared to 476 million riyals in 2019.
The COVID-19 pandemic has stymied oil and gas activity, a phenomenon which has now affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment.
Noble Corporation has received several new contract extensions for its drilling rigs and cancellation of a drilling contract in Vietnam.
As much as 40 per cent of maintenance work carried out by floating production storage and offloading (FPSO) vessel operators was described as “unnecessary” by a report from UK’s classification society Lloyd’s Register (LR).
Qatar’s PowerGlobe is looking to charter an LNG carrier to support its newly booked capacity at Croatia’s first import terminal on the island of Krk. The energy arm of privately-held Optimized Holding said in a statement it plans to charter the LNG vessel for a period of ten years. PowerGlobe did no
Seadrill has received a contract suspension for the jack-up drilling rig AOD II operating in the Middle East due to changes in the drilling program.
A Dutch-Pakistan venture is inviting companies willing to secure capacities at a planned onshore LNG import terminal in Port Qasim to submit their bids. Elengy Terminal Pakistan, owned by Vopak and Engro, has invited expression of interest on a non-binding basis from international and local LNG supp
Polarcus is taking further actions to streamline its business and adjust operational capacity to align with current market conditions. This follows on the $15 million cost reduction plan implemented due to the COVID-19 pandemic and oil price volatility. The company has additionally streamlined and r
Qatari maritime group Qatar Navigation (Milaha) Q.P.S.C. has unveiled a reorganisation plan aimed at boosting the company’s presence in the marine services sector.
There is a case to be made that the coronavirus crisis has been setting the stage for the restructuring of the offshore drilling market.
