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Danish offshore drilling contractor Maersk Drilling is set to mothball several offshore drilling rigs, and as a consequence, reduce the number of offshore workers, citing low oil prices and the impact of COVID-19 pandemic as the reason. "The COVID-19 pandemic and the lower oil price environment are impacting offshore drilling activity. Some tenders and projects... Continue Reading →
Apr 23, 2020 BUREAU VERITAS LAUNCHES REMOTE INSPECTION SERVICE FOR THE MARITIME AND OFFSHORE SECTOR IN BRAZIL Group is bringing its remote inspection service for verification and testing of equipment manufacturers for ships and platforms to the Brazilian market. The novelty would only arrive in the country in the future, but the company accelerated the... Continue Reading →
With an increasing focus on improving efficiencies throughout the global energy sector, the installation of subsea structures on the seabed can pose complex and costly challenges if handled incorrectly. It is essential that installation work is completed thoroughly and quickly, due not only to the harsh conditions which equipment can face, but also to the... Continue Reading →
Italian oil services group Saipem said on Thursday it could not offer new guidance for the year because of the highly unstable environment created by the COVID-19 pandemic and falling oil prices. Last week the group pulled its 2020 outlook saying the pandemic might trigger a sharp fall in demand and a delay in projects.... Continue Reading →
Houston-based offshore services and robotics specialist Helix Energy Solutions has reported net loss of $11.9 million, or 9 cents per diluted share, for the first quarter of 2020 compared to $1.3 million profit for the same period in 2019. Sequentially, profit fell from $8.1 million of 5 cents per diluted share. Continue reading
Oil services company TechnipFMC said on Wednesday it would slash the salaries of executives and retainers paid to company directors by 30%, after cutting its dividend by 75% in search of savings to cushion the impact of the novel coronavirus outbreak. The Franco-American firm, whose clients include major companies in the oil and gas sector,... Continue Reading →
Norwegian offshore vessel operator DOF has warned that several of its vessels might be laid up after the end of their current contracts, citing lack of new work opportunities amid the oil price rout and COVID-19 pandemic effects. On a positive note, Equinor has chartered one of its vessels on a long term deal. "There... Continue Reading →
Oilfield firm Baker Hughes Co reported a $10 billion loss and lower-than-expected revenue in the first quarter on Wednesday as an 80% plunge in oil prices crushed demand for services and equipment. Oil futures this week turned negative for the first time in history as fuel demand collapsed from the spread of the novel coronavirus... Continue Reading →
Apr 22, 2020 After a long period of negotiations, ExxonMobil signed a contract with Seadrill to charter the drill ship West Saturn, which will be responsible for resuming its exploratory activity in Brazil. The value of the contract was not disclosed, but it is estimated that the daily rate agreed was around US $ 250... Continue Reading →
Offshore oil driller Valaris PLC is preparing to start talks with creditors to see if they can agree on terms for a possible bankruptcy filing, as it grapples with a $6.5 billion debt burden and an unprecedented plunge in U.S. crude prices, people familiar with the matter said on Tuesday. Reuters reported last month that... Continue Reading →
Brazil Energy Insight 