Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side…
Russia remained China's top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments.China's imports from Russia, including supplies via pipelines and sea-borne shipments, jumped 12.5% on the year to 10…
TotalEnergies has signed an agreement with Sapura Upstream Assets to acquire its 50% interest in Malaysian independent gas producer and operator SapuraOMV for a consideration of $530 million, subject to closing adjustments.This agreement follows a first agreement signed with OMV on January 31…
The fuel savings gained by installing energy storage systems on oil and gas platforms are significant, but it’s the safe-ty benefits that might overcome what has been a relatively slow uptake of late.Industry lore has it that drilling rigs say…
Prime Energy has informed that the Malampaya offshore gas field in the Philippines was able to deliver more than its export capacity as the grid of the country’s Luzon island was placed on red and yellow alerts.Prime Energy, operator of the Malampaya project…
SundaGas Banda Unipessoal, a wholly-owned subsidiary of UK oil and gas company Baron Oil, has selected a new location for the Chuditch-2 appraisal well offshore Timor-Leste.SundaGas has been conducting site survey work in the Timor Sea over…
MHWirth, a subsidiary of Norwegian oil services investment firm Akastor, has received an arbitration award issued by a tribunal in a dispute with Seatrium’s subsidiary Jurong Shipyard over the termination of four drilling rig unit contracts…
India’s Oil and Natural Gas Corporation (ONGC) has awarded pre-FEED/FEED contract for Cluster-1 Development, located in Krishna Godavari (KG) Basin in the Bay of Bengal to Nauvata Energy Transition (NET Enterprise) and PERC Engineering.The contract encompasses concept study…
BP, as the operator of the Azeri-Chirag-Gunashli (ACG) project, has started oil production from the new Azeri Central East (ACE) platform as part of the ACG field development in the Azerbaijan sector of the Caspian Sea.The ACE platform is the…
Following a global contract procurement process, the Sunrise joint venture partners including Timor Gap, Woodside Energy and Osaka Gas Australia, have appointed Wood Australia on a Greater Sunrise concept study.The study will be led by Wood…
Russia's seaborne oil product exports fell 4.2% in March from the previous month to 10.178 million metric tons due to unplanned maintenance at refineries and a uel export ban, data from industry sources and Reuters calculations showed.Russia's…
Canada-based oil and gas company Valeura Energy has made three oil discoveries as part of the exploration campaign in the Gulf of Thailand - one in the Nong Yao D area, and two in the north-east portion of the Wassana concession.The Nong Yao-13 well…
The EU will investigate subsidies received by Chinese suppliers of wind turbines destined for Europe, in the bloc's latest move to shield domestic firms from cheap clean tech products.The European Commission will look into conditions for the development of wind parks in Spain…
Russian Deputy Prime Minister Alexander Novak met heads of local oil companies on Wednesday, instructing them to maximiae gasoline and diesel supply to the domestic market, according to a statement posted on the government's Telegram channel…
Offshore drilling contractor Borr Drilling has secured work for three of its premium jack-up rigs, bringing in $158.6 million to the company.The new contracts are for the Prospector 1, Gunnlod, and a rig to be determined. The commitments total 820 days and $158…
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