News

  • Threat of new European lockdowns send oil prices tumbling

    Oil was on track to post its biggest weekly drop since August as Europe’s worsening Covid-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market.   The January futures contract in New York tumbled as…

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  • Helix details first New Zealand decommissioning win

    Helix Energy Solutions is set to carry out well abandonment, recovery of subsea trees and wellhead severance and recovery at the Tui oil field offshore New Zealand as part of the contract recently secured with New Zealand’s Ministry of Business, Innovation & Employment (MBIE).   The five-well…

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  • Woodside and BHP to finalise US$29 billion tie-up

    Australia’s BHP Group and Woodside Petroleum have signed a binding share sale agreement (SSA) for the merger of BHP’s oil and gas portfolio with Woodside, under which Woodside will acquire the entire share capital of BHP Petroleum in exchange for new Woodside shares.   The…

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  • Insurance Jottings

    Insurers Cut Their Appetite for Cyber Cover as Ransomware Losses Mount Insurers have halved the amount of cyber cover they provide to customers after the pandemic and home-working drove a surge in ransomware attacks that left them smarting from hefty pay-outs.   Faced with increased…

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  • Maersk drillship gearing up for Namibian ultra-deep-water well

    French energy major TotalEnergies is preparing to drill a wildcat well in waters offshore Namibia, using a Maersk Drilling-owned drillship. According to the latest AIS data, the Maersk Voyager drillship departed Luanda, Angola on 14 November and was expected to reach Walvis Bay in Namibia…

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  • Petrobras Hits The Mark With Exploration Well Off Brazil

    Brazilian state-owned oil company Petrobras has identified the presence of hydrocarbons in the Santos Basin pre-salt, in a pioneer well in the Aram block.   The Curaçao well, otherwise designated as 1-BRSA-1381-SPS, is located 150 miles from the city of Santos, in the state of…

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  • TechnipFMC entering tidal energy venture

    TechnipFMC has a memorandum of understanding with Orbital Marine Power to collaborate in tidal energy.   The aim is to speed up commercialisation of Orbital’s technology and deliver the first commercial-scale floating tidal field.   Orbital’s floating turbine, according to TechnipFMC, is the most powerful developed to…

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