Fossil Energy
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.
“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
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
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.
Eni defends balance sheet and dividend with huge capex and opex cuts
Italian oil and gas company 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.
Over million oilfield jobs on the line due to oil price war and coronavirus, Rystad says
More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad Energy impact analysis shows, also revealing that shale services will bear most of the reductions.
Over million oilfield jobs on the line due to oil price war and coronavirus, Rystad says
More than a million jobs in the oilfield service industry (OFS) are likely to be cut in 2020 due to low project volumes brought upon by the Covid-19 epidemic and the ongoing oil price war, a Rystad Energy impact analysis shows, also revealing that shale services will bear most of the reductions.
Maersk Product Tankers back to black
Danish tanker owner and operator Maersk Product Tankers returned to black having reported a profit of $91.4 million for 2019 as freight markets improved across all tanker segments. The profit marks a significant recovery when compared to a loss of $35 million a year earlier. The tanker shipping comp
Equinor joins other majors in slashing spending
Equinor has decided to reduce operating costs and spending to help mitigate the impact of the coronavirus outbreak and oil price downturn.
Equinor reveals plan to cut $3 billion from its spending
Norwegian oil and gas major Equinor has revealed an action plan to battle the impacts of the coronavirus and low commodity prices under which it will reduce its spending for 2020 by $3 billion.
Connecting gears of the energy transition
Together with other Navingo platforms, Offshore Energy Today is moving into a new home, which will be launched in April 2020.
Maersk drillship’s gig with Tullow cut short
Maersk Drilling has received a notification from Tullow Oil of early termination for convenience of the drilling contract for the drillship Maersk Venturer.
Kvaerner management cuts its salaries amid coronavirus crisis
The management team of Norwegian engineering and construction services company Kvaerner has decided to cut its salaries to alleviate the effects of the coronavirus outbreak.