Teekay, which has recently decided to change its name to Altera Infrastructure, has entered into a new bareboat charter contract with the Foinaven operator, a subsidiary of BP, for the Petrojarl Foinaven FPSO.
Cairn Energy has made significant reductions and deferrals regarding its 2020 program, representing an overall 23 percent reduction in capital expenditure for the year.
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.
Hurricane Energy has confirmed that a crew member on the Aoka Mizu FPSO at the Lancaster field has been evacuated to the mainland for medical reasons and subsequently tested positive for COVID-19.
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.
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
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 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.
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.
Global energy demand is increasing and with climate agreements looming, the future of the energy mix will see major changes. We spoke to Lex de Groot, managing director of independent E&P company Neptune Energy Netherlands, on how he sees the respective roles of offshore wind, oil, gas and marine en
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 has decided to reduce operating costs and spending to help mitigate the impact of the coronavirus outbreak and oil price downturn.
Finnish state-owned gas company Gasum said on Tuesday it had entered into a deal with Sweden’s largest fuel company Preem for the supply of a new fuel blend consisting of liquefied natural gas and 10 percent of renewable liquefied biogas. This is the first deal that involves Gasum delivering a blend
