Top oilfield services provider Schlumberger NV on Friday posted its third straight quarterly loss as this year's prolonged slump in oil prices due to the COVID-19 pandemic compelled its major energy customers to shun drilling. The company kicked off earnings from hard-hit U.S. oilfield service providers and come as the reintroduction of lockdowns in some... Continue Reading →

Top global oil traders Vitol, Trafigura and Gunvor said on Thursday they saw slow oil demand recovery because of a second coronavirus wave with oil prices rising to or above $50 per barrel only by October next year. Benchmark Brent crude futures traded down 1.6% to $42.62 a barrel at 0905 GMT on Thursday as... Continue Reading →

Marine services company C-Innovation (C-I) has ordered a package of Sonardyne’s underwater positioning and navigation systems to support its operations offshore Brazil. Remotely operated vehicles (ROVs) on board six ROV support vessels (RSVs) in the country will be equipped with Sonardyne inertial, gyrocompass and Doppler technologies, as well as hybrid acoustic-inertial systems. C-I has ordered... Continue Reading →

Offshore Floating Wind is a sizeable global opportunity ramping-up for commercialization across six to ten distinct markets. Floating Wind Solutions 2021 announces our Advisory Board of experts in all fields involved in Floating Wind and related Supply Chains. The primary role of the FWS Advisory Board is to offer their insight and expertise to create... Continue Reading →

Petróleo Brasileiro S.A. - Petrobras, following up on the release disclosed on February 4, 2020, informs that its indirect controlled company, Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), signed today with DISA Corporación Petrolífera S.A. (Disa), a contract for the sale of its entire stake in Petrobras Uruguay Distribuición S.A. (PUDSA), in Uruguay. The value... Continue Reading →

Creditors of North Sea-focused Premier Oil have extended a waiver for the group's debt covenant test until Nov. 5, giving it breathing space to avoid a debt crunch, the company said on Thursday. Premier needs to convince at least 75% of its creditors that the best solution is for the company to extend debt maturities... Continue Reading →

Sept 16, 2020 The world’s biggest independent oil trader says global stockpiles of the commodity will keep shrinking, offering a starkly more bullish view of the crude market than some of its rivals. Vitol Group said inventories have been falling sharply and will continue to decline this year. Trafigura Group, the second-biggest trader, says the... Continue Reading →

Sept 17, 2020 If 2020 had been anything close to a normal year, the oil and gas industry would have just wrapped up its annual gathering in Singapore, most likely reassured of its ongoing essential role in humanity's future. But this is far from a normal year, and the Asia Pacific Petroleum Conference (APPEC) was... Continue Reading →

Sept 10, 2020 The U.S. Energy Information Administration (EIA) has raised its Brent and West Texas Intermediate (WTI) oil price forecasts for 2020, the organization’s latest short-term energy outlook (STEO) has revealed. Brent and WTI spot prices will average $41.90 per barrel and $38.99 per barrel, respectively, this year, according to the EIA’s September STEO.... Continue Reading →