Schlumberger and Milaha sign MoU for well stimulation vessels
Middle Eastern maritime and logistics firm Milaha has signed a memorandum of understanding (MoU) with American oilfield services firm Schlumberger…
28 Sep 2020
Canada commits $238m to support offshore oil industry
The Government of Canada has committed C$320m ($238.6m) to support the struggling offshore oil industry. The investment will support jobs and help in funding maintenance and upgrade works, as well…
28 Sep 2020
Oil prices slip due to surge in Covid-19 infections
Oil prices have edged-down due to concerns over the impact on fuel demand recovery as a result of increasing cases of Covid-19 infections. Brent crude LCOc1 futures edged lower by…
25 Sep 2020
BP hits 25-year low a week after unveiling a new climate strategy
BP’s shares in London on Thursday stood at 232.4p, the lowest they have been since October 1995. The development follows the efforts of BP chief executive officer Bernard Looney and…
25 Sep 2020
POSH secures long-term charters for POSH Arcadia and POSH Xanadu vessels
Offshore marine services provider PACC Offshore Services Holdings (POSH) has secured long-term charters for two of its offshore semi-submersible accommodation vessels, namely POSH Arcadia and POSH Xanadu. The contract has…
25 Sep 2020
Solstad secures vessel charter extensions with Equinor and Aker BP
Norwegian offshore service company Solstad Offshore has won vessel charter extensions with Norwegian oil firms Equinor and Aker BP. Equinor has declared a one-year extension option for the anchor handling…
25 Sep 2020
Oil prices fall due to growing concerns over fuel demand recovery
Oil prices have edged down due to rising concerns over the impact on fuel demand as a result of the resurgence in Covid-19 infections. The price drop is also partly…