The Liberian government is seeking interest from local companies on participating in the offshore licence round, which is due to open on April 10, while moving the launch event online in order to restrict coronavirus transmission.
DNO has slashed its budget to shore up its balance sheet in the face of “unprecedented market convulsions” and plunging oil prices triggered by the coronavirus pandemic.
Oil futures plunged as much as 26% to the lowest levels since 2002 after Saudi Arabia vowed to keep producing at a record high “over the coming months,” doubling down in its price war with Russia.
More than 200 oilfield services firms (OFS) across the UK and Norway are “set to become insolvent” due to the coronavirus outbreak, according to Rystad Energy.
Sasol “will prevail”, the company’s CEO Fleetwood Grobler said on a conference call intended to reassure investors and employees. The plan should stabilise the company, protect the balance sheet and preserve stakeholders’ interests.
A UK judge suspended the country’s biggest ongoing corruption trial in London for two weeks, the first such case to have been put on hold because of the coronavirus as an attorneys association asked for all jury trials to be halted.
ExxonMobil said today it would "significantly reduce spending" as a result of market conditions caused by the Covid-19 pandemic and commodity price decreases.
Oil clawed back some losses after collapsing below $30 a barrel as the shut down of swathes of the world’s economy triggers a meltdown in global fuel demand and the most volatile market on record.
The owner of UK North Sea oil firm Ithaca Energy has been granted a temporary injunction against a lender who demanded the immediate repayment of a £46 million loan.
Cluff Natural Resources' (CLNR) operations and planned work "remain on track and are unaffected" by recent share price volatility and the coronavirus (Covid-19) outbreak, the firm has said.
Oil and gas firm Equinor has confirmed that it has begun down-manning procedures on its Martin Linge platform in the Norwegian section of the North Sea.