Latest news

China buys record volume of Russian oil as European demand dives: traders

China is buying a record 1.6 million tonnes of Russian oil for loading at sea over the next four weeks, taking advantage of rock bottom prices for Russia’s flagship Urals grade combined with a collapse in demand in Europe, traders said on Wednesday.

read more... 26/03/2020


Equinor slashes investment, spending in $3 billion coronavirus package

Norwegian oil firm Equinor will cut investments, exploration drilling and operating costs as part of a $3 billion plan to help the company weather the coronavirus crisis and low oil prices, it said on Wednesday.

read more... 25/03/2020


Developing nations may lose up to 85% of oil and gas income this year - IEA, OPEC

Developing nations’ oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions persist, the International Energy Agency and OPEC said in a rare joint statement on Monday, citing recent IEA analysis.

read more... 17/03/2020


Maersk Drilling secures one-well contract offshore Egypt

Maersk Drilling has been awarded a one-well contract for the semi-submersible rig Maersk Discoverer offshore Egypt. The contract has an estimated duration of 21 days and is expected to commence in March 2020, in direct continuation of the rig’s current contract. The contract value is approximately USD 3.8m.

read more... 05/03/2020


Turkey's 3rd drillship from UK expected on March 17

Turkey's third drillship, acquired from the U.K, is expected to arrive at its final destination in Turkey on March 17, according to ship-tracking data on Thursday.

read more... 28/02/2020