No more FPSO orders in 2020
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
Americas
Enron legacy returns in battle over $80 million yacht
Almost two decades after the collapse of Enron Corp., a former unit of the energy-trading giant is sparring with US and Nigerian authorities over the proceeds of the sale of a luxury yacht.
ExxonMobil suffers second quarterly loss on the bounce
Exxon Mobil Corp. incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity.
McDermott International exits Chapter 11 bankruptcy
Oil field service company McDermott International shed $4.6 billion debt after emerging from bankruptcy Monday afternoon.
Maersk Drilling bags £16.6million Suriname contract with Petronas
Maersk Drillng has won a £16.6m ($20.4m) contract with Petronas off Suriname.
Texas moves ahead on discharging oil wastewater, even as EPA balks
Environmental officials in Texas and other western states are moving ahead on plans to allow oil and gas companies to treat drilling wastewater and discharge it into rivers and streams, even as the Trump administration balks at endorsing the practice amid widespread questions about public health effects.
A second virus wave is threatening US oil demand again
After months of empty roads, lockdowns were easing and people were getting behind the wheel again. A station in Northern California was selling gasoline for a whopping $5.98 a gallon.
Chesapeake’s collapse is latest in long line of shale disasters
The shale bust has reached a grim milestone by claiming the pioneer of America’s drilling renaissance. But Chesapeake Energy Corp., which filed for bankruptcy protection on Sunday, is just the latest in a long list of casualties.
Venezuela oil crisis deepens as Indian refiners halting imports
India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry.
After decade of excess, US shale industry will take years to recover
As oil prices tick up to $40 a barrel following a pandemic-induced plunge, there’s a sense the shale industry is snapping back to life with Continental Resources Inc., EOG Resources Inc. and Parsley Energy Inc. all saying they’re restarting closed wells.
Female oil worker files $100m sexual harassment suit against Schlumberger
A woman who once worked as a field engineer for oil-field services giant Schlumberger has filed a $100 million lawsuit against the company claiming that a male coworker allegedly told others it would be OK for them to break into her bedroom and sexually assault her.
Updated: i3 Energy exercises option for Canadian firm, strikes £48m deal for oil package
Oil and gas explorer i3 Energy has taken up the option to buy a struggling Canadian firm -- and struck a separate, £48m deal for a portfolio of light oil assets in North America.
Might makes for LNG opportunities
Pandemic-driven lockdowns have taken their toll on small companies in every sector, while larger companies can take a longer view on matters, including in the LNG sector.
New cryptocurrency ‘can rejuvenate US economy’
Highlander Alastair Caithness is ploughing ahead with plans for a new cryptocurrency on behalf of the third largest political party in the US after the man who enlisted him dropped out of the race to become president.
Helicopter operators Bristow, Era complete merger
Helicopter operators Bristow Group and Era have finalised their merger.
ExxonKnew NGOs targeted by hacker team
A widespread “hack for hire” team that has infiltrated energy industry targets has been exposed.
Shale pioneer Chesapeake plans bankruptcy with options dwindling
Chesapeake Energy Corp. is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the U.S. shale revolution to senior lenders, according to people with knowledge of the matter.
Bankruptcy ‘jackpot’ for CEOs of failed oil companies
For Whiting Petroleum Corp. Chief Executive Officer Brad Holly, filing for bankruptcy had at least one perk: a $900,000 pay raise.
Gulf of Mexico oil platforms being evacuated at storm rolls in
Tropical Storm Cristobal brought heavy rain to southern Mexico, and with a forecast that has it re-entering the Gulf of Mexico on Friday, oil-platform workers are already being evacuated.
United States Oil Fund faces investigation over risk disclosures to investors
A popular exchange traded fund that uses complex derivatives to track oil is being investigated by U.S. regulators over whether its risks were properly disclosed to investors, scrutiny triggered by crude’s historic slump during the coronavirus crisis, said three people familiar with the matter.
New president appointed for BP America
BP has appointed a new leader to head up its business in the United States, replacing industry veteran Susan Dio.
Shell airlifts workers after coronavirus outbreak on Gulf rig
Shell Oil, the U.S. subsidiary of energy giant Royal Dutch Shell, has evacuated nine workers from a company platform in the Gulf of Mexico for testing and treatment of COVID-19, the illness caused by the coronavirus.
Pemex’s mounting death toll
When 62-year-old Tomas Morales registered a fever of 101.3 Fahrenheit on April 14, the doctor told him to self-isolate. But there was a problem: Morales was on an oil platform off the Mexican coast only reachable by helicopter, and he shared a bedroom with three other workers.
Sonangol signs up to drill wells in Cuba
Sonangol has signed a deal to farm in to a block onshore in Cuba, under an agreement with Australia-listed minnow Melbana Energy.
Record spending cuts this year, IEA warns
The coronavirus pandemic has triggered the “largest drop in global energy investment in history”, the International Energy Agency (IEA) has said, launching its World Energy Investment 2020 report.