The Norwegian Government has decided to make oil production cuts in an attempt to more rapidly stabilise the oil market.
Valaris booked $3 billion loss in the first quarter of the year affected by impairments and fleet utilization decline.
Shell has decided to slash its dividend after seeing its quarterly profit nearly halved when compared to the last year’s quarter amid a dramatic decline in oil price.
At a time when seafarers are keeping the world moving, COVID-19 cannot be used as an excuse to lower the wage and working conditions of seafarers, the International Transport Workers’ Federation (ITF) said.
The United Nations Conference on Trade and Development (UNCTAD) has introduced a ten-point action plan to help industries involved in the movement of goods keep free-flowing trade afloat during the COVID-19 crisis and its aftermath.
A new partnership between IMO, WCO, UNECE and ISO has been signed to support the increased maritime digitalisation.
UK’s offshore unions have launched a campaign to protect the jobs in the oil and gas sector and secure its future, calling for a halt to the “carnage” of jobs.
OKEA sank deeper into the red in the first quarter of the year affected by lower oil and gas prices and sales volumes resulting in impairments of over $60 million.
BP reported a significant decline in its quarterly profit due to lower prices and the destruction of oil demand by the coronavirus crisis.
Affected by coronavirus costs and provisions, Kvaerner sank to a loss in the first quarter of the year compared to a profit in the year-before quarter.
Eni booked a net loss of over $3 billion in the first quarter of the year due to the overlapping effects of the coronavirus pandemic and the oil price collapse.
Maersk Drilling has decided to stack a number of its North Sea drilling rigs to adapt to the changing market environment.
DNV GL has issued an international call to oil and gas operators and the supply chain to pilot a methodology that could prove whether the data generated by digital twins can be trusted and if the technology is delivering value.
Different zero-carbon fuel options are more competitive in different decades and there is not one option which is the most competitive from today through to 2050, a new paper finds.
