Heerema has sold its shares in Heerema Porto Amboim (HPA) to its joint venture partner and liquidated Heerema Marine-Sociedade Angolana de Transportes (HMT). According to the company, the joint ventures are no longer economically viable due to the ongoing poor market...
Schlumberger is cutting 21,000 jobs in response to the pandemic and related oil crisis. CEO Olivier le Peuch says the second quarter ‘has probably been the most challenging quarter in the past decades.’ The company has recorded huge drops in revenue, which...
With few profitable investment opportunities left as a result of the coronavirus, oil companies will likely increase their spending on decommissioning contracts. Global projects through 2024 could reach a value of 42 billion dollars, say analysts of Rystad Energy....
Fuel prices have skyrocketed following the drone attacks on a Saudi-Arabian oil terminal this past weekend. In major bunker ports like Rotterdam and Singapore, prices have shot up by as much as thirty per cent, figures from the Bunker Index show. However, Rystad...
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