Lamprell concerned on future
Lamprell has issued a going concern warning following some tricky contracts that have left it underwater.
Lamprell has issued a going concern warning following some tricky contracts that have left it underwater.
Qatar Petroleum (QP) has bought into three blocks offshore Mexico, in the Campeche Basin, under an agreement with Total.
Norway’s DNO has tested and appraised its Baeshiqa-2 exploration well in Kurdistan and is moving to spud an exploration well on a separate prospect on the same licence.
Delek Group’s reliance on restructuring its debt and selling its assets in order to cover its liabilities has led it to note some concerns that it would able to continue as a going concern in its annual report.
Gulf Marine Services (GMS) has formally rejected a “wholly opportunistic” bid for the company from its largest shareholder, Seafox International.
International oil and gas companies operating in the Gulf are well-versed in dealing with fluctuating oil prices.
Seafox International has expressed interest in acquiring Gulf Marine Services (GMS) and is now required to make a firm offer – or declare otherwise – by May 28.
Total’s well offshore Lebanon has failed to find a reservoir in the Tamar formation, which was the exploration target.
ADNOC and ADPower have launched a joint tender for a subsea power transmission network, connecting offshore production facilities to the onshore power grid.
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
Dana Gas has taken a step towards splitting its upstream and midstream businesses off from each other, following approval for the plan from its shareholders at an AGM vote.
Gulf Keystone Petroleum does still intend to increase production to 55,000 barrels per day in Kurdistan but this is dependent on conditions improving, including the resolution of outstanding payments from the local government.
Qatar Petroleum (QP) has struck a deal on LNG ship construction with Hudong-Zhonghua Shipbuilding Group Co. worth more than 11 billion Qatari riyals ($3.02 billion).
US President Donald Trump has given the US Navy to “shoot down and destroy” Iranian vessels “if they harass our ships at sea” in a tweet.
The International Energy Agency (IEA) has called for the OPEC-led group to take more production offline and faster than previously agreed.
An investor group backed by Global Infrastructure Partners and Brookfield Asset Management is seeking a loan of about $8 billion to finance the potential purchase of a stake in ADNOC’s natural gas pipelines, according to people with knowledge of the matter.
Qatar Petroleum (QP) has integrated SEEF’s operations, ahead of the original deadline.
Abu Dhabi’s ADNOC has terminated two contracts for Petrofac’s joint venture on the Dalma gas development worth $1.65 billion.
Qatar Petroleum (QP) has begun development drilling on its North Field East (NFE) project, which will sustain its major LNG expansion plans.
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
Lamprell is in the process of shutting two of its three facilities in the United Arab Emirates (UAE) in order to reduce overheads.
After a week-long marathon of calls between world leaders and video conferences featuring dozens of energy ministers, it was the moment the 2020 oil price war finally ended.
Dubai Petroleum is ending its second rig contract with Shelf Drilling, which had been working in the United Arab Emirates.
US President Donald Trump’s call for a 10 million barrel per day – or even 15mn bpd – cut drove up oil prices last week but weak demand continues to run the show, with little respite expected from talks due to take place this week.
Energy services company Stats Group said yesterday it had strengthened its presence in Oman, with the opening of a new workshop, storage and testing facility in Muscat.