Latest News

FPSO sanctioning is at a minimum and few opportunities remain for FPSO suppliers to find new work and redeploy their vessels. Suppliers may be forced to accept day rate reductions in order to keep their vessels working.

Sourcing water, flowback water services threatened as D&Cs decline.

Penspen will also carry out engineering services on the Zirku Island plant.

The latest cuts come less than 2 weeks after OPEC+ began the largest round of coordinated production curtailments ever agreed to.

I suspect that most people’s 2022–2030 strategic planning windows have shifted. Operational and tactical plans and strategies will need to be based on a widely divergent set of assumptions.

Oil companies large and small have pulled out the stops to stay on solid ground. Devon, Diamondback, and Parsley post latest cuts in production.

The cementing services market size in the US is expected to drop 50% year-on-year from 2019. The significant drop in Permian Basin activity will account for 40% of the total market size reduction.

The W-Industries contract comes 2 months after Worley was awarded a master service agreement for services on the Mozambique LNG project.

How do we gear up for the next stage as countries start opening for business again? Do we try to go back to the way things were, or do we decide to evolve our strategies? Perhaps we can reimagine what sustainability in our industry looks like.

Dutch companies are among the latest to explore the transformation of seawater into sustainable energy.

With US oil prices struggling to top $25, oil companies and service providers are making deeper cuts this month to cope. The biggest come from Halliburton which may have shed 5,000 total jobs since the start of the year.

So many unprecedented changes have occurred in the Canadian oil business that it is impossible to compare the current downturn to anything seen before.