Fossil Energy
Companies to build shore power installation for Gulf of Mexico coast
Entergy Louisiana and Edison Chouest Offshore have partnered to build the first utility-scale shore power installation at Port Fourchon, which plays a role in providing nearly 20 percent of the nation’s oil supply.
Rystad: With OPEC+ ready to unleash extra barrels, oil prices could fall into low $20s
Oil prices could fall into the low $20s for the global market to rebalance, as Rystad Energy expects an increase in global supplies in the next three months.
Murphy cuts spending by $500 million amid oil price volatility
U.S. oil and gas company Murphy Oil has revised its capital spending plans for 2020 given current market conditions and recent commodity price volatility.
Apache responds to current challenging market by slashing spending
Apache Corporation has announced multiple actions in response to current challenges in the oil market featuring an oil price war between Saudi Arabia and Russia following the OPEC+ breakdown, the effect of the coronavirus outbreak on global oil demand, and the ‘historic’ plunge of oil prices this we
Norwegian regulators introduce safety measures amid coronavirus fears
Norwegian oil regulator and offshore safety authority have introduced measures for restricting the spread of the coronavirus on oil and gas facilities in the country.
Oil price war could lead to massive wave of bankruptcies in oilfield services, Rystad says
The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain at a $30 level, a Rystad Energy impact analysis revealed
Pacific Drilling lands new job for drillship in Mexico
Offshore drilling contractor Pacific Drilling has secured a new contract in Mexico for its drillship Pacific Sharav.
Jadestone Energy to de-list from Canada stock exchange
Jadestone Energy has stated that the final day of trading for its common shares on the Calgary-based TSX Venture Exchange will be March 24, 2020.
Mubadala takes more interest in Thai field
Mubadala Petroleum has increased its interest in its operated G1/48 Concession in the Gulf of Thailand, which includes the Manora field.
Helix Energy agrees extension of credit for Q5000 semi-sub
Helix Energy Solutions has amended its existing credit agreement related to its Q5000 semi-submersible well intervention rig.
Norwegian oil output falls short of expectations in February
Norwegian oil production during February 2020 fell below predictions made by the Norwegian Petroleum Directorate (NPD), according to the directorate’s report on Thursday.
Diamond Offshore hires Logan for rig upgrades and repairs
Hydraulic repair, manufacturing, and rental company Logan Industries has signed a ten-year contract to provide a condition-based monitoring (CBM) program for wireline tensioners for drilling contractor Diamond Offshore.
UAE’s ADNOC pledges to increase oil supply amid price war
UAE’s oil giant ADNOC has decided to step up its efforts and produce more oil, pledging to increase supply to over 4 million barrels per day in April 2020 following the collapse of the OPEC+ agreement.
Island Offshore hauls in batch of new long-term deals
Norwegian offshore shipping company Island Offshore has secured long-term contracts for several of its platform supply vessels from Swedish oil and gas company Lundin Petroleum.