Fossil Energy
Valaris gets two rig contract terminations in Angola
Valaris has received contract terminations for two rigs operating offshore Angola, one from Total and the other one from Chevron, but has also secured revenue backlog of $100 million.
Valaris gets two rig contract terminations in Angola
Offshore drilling contractor Valaris has received contract terminations for two rigs operating offshore Angola, one from Total and the other one from Chevron.
Cairn Energy makes ‘significant’ reductions to capex. All exploration activity deferred
Cairn Energy has made significant reductions and deferrals regarding its 2020 program, representing an overall 23 percent reduction in capital expenditure for the year.
EMGS to keep only skeleton crew after entering into cost-saving mode
Sharp oil price drop and the global coronavirus pandemic have pushed Norwegian seismic survey company EMGS to operate in a low-cost setup to preserve sufficient liquidity.
Magseis Fairfield pens deepwater OBN project offshore Mexico
Contrary to current trends of contract cancelations due to the oil price drop and coronavirus spread, seismic data acquisition company Magseis Fairfield has won a deepwater OBN project in the Mexican part of the Gulf of Mexico.
OMV joins line of oil and gas operators making budget cuts for 2020
Joining other oil and gas operators in actions to safeguard their businesses amid coronavirus crisis and the oil price war, Austrian oil and gas company OMV has decided to reduce its investments in 2020 by 20 percent, cut costs by around $217 million, and delay acquisition projects.
OMV joins line of oil and gas operators making budget cuts for 2020
Joining other oil and gas operators in actions to safeguard their businesses amid coronavirus crisis and the oil price war, Austrian oil and gas company OMV has decided to reduce its investments in 2020 by 20 percent and cut costs by around $217 million.
Rystad: Oil price drop to slash African state budgets
Africa’s expected production is set to decline for most of this decade and energy-reliant state budgets to take significant hits, as top planned oil and gas projects were expecting sanctioning under an oil price assumption of between $55-$60 per barrel, according to energy intelligence firm Rystad E
“Satisfactory” capacity interest in Greek offshore LNG terminal
Gastrade of Greece, the developer of a planned offshore liquefied natural gas import facility at Alexandroupolis, said Thursday that gas firms have submitted “satisfactory” binding bids to reserve regasification capacity at the facility. Key gas market players in Greece and southeast Europe, as well
Rystad: Oil price drop to slash African state budgets
Africa’s expected production is set to decline for most of this decade and energy-reliant state budgets to take significant hits, as top planned oil and gas projects were expecting sanctioning under an oil price assumption of between $55-$60 per barrel, according to energy intelligence firm Rystad E
Tsakos: We are in uncharted territory, but we are experts in navigating things
The first two quarters of 2020 look very promising for the tanker markets, according to Nikolas Tsakos, President and CEO of Tsakos Energy Navigation (TEN). The estimate comes at a very turbulent time for tanker owners marked by oil price collapse after the fallout between Russia and OPEC countries
Canada’s Woodfibre LNG pushes back construction start
The developers behind the Woodfibre liquefied natural gas (LNG) export project on Canada’s West Coast are pushing back the start of construction. Woodfibre LNG, owned by Pacific Oil & Gas, planned to start construction on a 2.1 million metric tonnes per annum LNG terminal and associated facilities t
Eni defends balance sheet and dividend with huge capex and opex cuts
Eni has decided to reduce its capex and opex for this year and the next as a result of the coronavirus pandemic and the oil price war. The reductions are mainly related to Eni’s Upstream activities.
Vaalco wraps up drilling campaign offshore Gabon
Vaalco has completed its 2019/2020 drilling campaign in the Etame Marin permit offshore Gabon, which included three development wells and two appraisal wells that confirmed additional resources.