News, views and contacts from the global Offshore industry
 

News

Stay up to date with the latest industry news from the global offshore industry

Latest News

Oil prices recover despite China’s weak economic outlook
04 August, 2015
Oil prices have edged-up due to the psychological mark of $50 a barrel on Tuesday looming production glut and China's weakening economic outlook....
> read more

BG Group starts first oil production from sixth FPSO vessel, offshore Brazil
Tuesday, August 04, 2015 BG Group is set to begin the first oil production from the sixth Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel....

Arup joins ABT Oil and Gas’ Marginal Field Delivery Consortium
Tuesday, August 04, 2015 Global engineering and design consultancy Arup has joined the Marginal Field Delivery Consortium established by ABT Oil and Gas to assist in the delivery of its marginal field initiative....

BP ceases deepwater exploration activities off Uruguay
Tuesday, August 04, 2015 BP has reportedly ceased exploration activities at three offshore blocks in Uruguay....

World Bank approves $700m investment in Ghana’s offshore gas project
Monday, August 03, 2015 The World Bank has approved a $700m investment in guarantees for offshore Sankofa gas project in Ghana....

Fall in oil prices due to oversupply concerns
Monday, August 03, 2015 Oil prices have dropped due to concerns of increasing over supplying and contracting demand in China, which is one of the biggest consumers of the fuel....

Wood Group to carry out FEED work for $40bn Browse LNG project off Australia
Monday, August 03, 2015 Energy services company Wood Group has secured a contract to carry out front-end engineering and design (FEED) for the Woodside-operated $40bn Browse Floating Liquefied Natural Gas...

Wintershall and Gazprom sign MoU to expand Nord Stream pipeline capacities
Monday, August 03, 2015 BASF subsidiary Wintershall has signed a memorandum of understanding (MoU) with Gazprom to expand the capacities of the offshore natural gas project, Nord Stream pipeline. ...

Oil prices dip due to oversupply concerns
Friday, July 31, 2015 Oil prices have dropped due to increased concerns of oversupply worldwide following an announcement by the Organization of the Petroleum Exporting Countries (OPEC) hinting at continuing...

IMES unveils new business to improve offshore safety
Friday, July 31, 2015 IMES Group has announced the launch of a new business targeted at the oil and gas and commercial marine industries and designed to improve offshore safety....

Inpex to undertake exploratory well drilling offshore Japan
Friday, July 31, 2015 The Agency of Natural Resources and Energy of Japan’s Ministry of Economy, Trade and Industry (METI) has selected Inpex to drill one exploratory well for the agency ’s offshore drilling programme....

Sterling Energy completes acquisition of interest in Block C-3 offshore Mauritania
Friday, July 31, 2015 UK-based Sterling Energy Mauritania (SEML) has completed its previously announced acquisition of 40.5% interest in the production sharing contract (PSC) for Block C-3 located offshore in...

Oil prices rise following larger than expected fall in crude stocks
Thursday, July 30, 2015 Oil prices have rise slightly after larger than expected draw down of US crude and gasoline inventory....

Total to sell interests in four gas fields for $876m
Thursday, July 30, 2015 Total has signed an agreement with SSE E&P UK to sell 20% of its interests in four gas fields and surrounding exploration acreage for for £565m ($876m), approximately 125km north-west of...

Subsea 7 wins $500m contract to develop Taurus and Libra fields offshore Egypt
Thursday, July 30, 2015 Subsea 7 has secured a $500m contract from BP and partner DEA to develop the Taurus and Libra subsea fields in offshore Alexandria, Egypt. ...

PA Resources submits revised plan of development for Zarat Field offshore Tunisia
Thursday, July 30, 2015 Sweden-based PA Resources has submitted an updated plan of development to the Tunisian authorities for Zarat Field, a shallow-water, gas-condensate and oil field in offshore Tunisia. ...

Chevron to layoff 1,500 employees to cut costs
Wednesday, July 29, 2015 Chevron has announced plans to cut 1,500 jobs, around 2% of its global workforce, in an effort to make savings of $1bn....

Oil prices dip due to oversupply concerns
Wednesday, July 29, 2015 Oil prices have fallen for the fifth day in a row due to global oversupply concerns, despite an unexpected drop in US crude stocks combined with a weaker dollar....

Technip to tie-in PFLNG1 facility to offshore platform in Malaysia
Wednesday, July 29, 2015 Petronas Carigali has awarded an engineering, procurement, construction, installation and commissioning contract to Technip for the tie-in of Petronas first floating liquefied natural gas...

Ecopetrol discovers hydrocarbons in Colombia’s ultra-deepwater
Wednesday, July 29, 2015 Ecopetrol has announced that the Kronos-1 well discovered hydrocarbons in ultra-deepwater of Colombian south Caribbean area at a depth of 3,720m....

SBM Offshore secures $1.55bn for Cidade de Saquarema FPSO vessel
Tuesday, July 28, 2015 Dutch company SBM Offshore has raised $1.55bn for its FPSO Cidade de Saquarema vessel....


News Archive