Upstream news
Maersk Drilling reports fall in revenue in 1Q20
The company recorded a revenue of US$279 million in 1Q20, compared to US$305 million in 4Q19.
OMV granted drilling permit in Norwegian North Sea
Well 6506/11-12 S. will be drilled about 4 kilometres west of the Morvin field.
Ashtead Technology and Reliance Subsea Services enter partnership
Ashtead will provide subsea survey and ROV equipment to Reliance for use on offshore drilling, field development, IRM and decommissioning projects.
Petrogas relinquishes interest in Malaysia onshore block
The relinquishment process of the SK331 block, located onshore Sarawak, East Malaysia, is expected to be fully completed before the end of the year.
US oil output will not recover pre-Covid-19 levels until 2022, says Rystad Energy
US monthly output is not likely to exceed 11.7 million bpd before 2022, according to Rystad Energy estimates.
IEA: Covid-19 causing biggest fall in global energy investment
Global investment is expected to plummet by 20%, or almost US$400 billion, compared with last year, according to the IEA’s World Energy Investment 2020 report.
Oil eases on supply recovery concerns
Although at a stable overall level, oil prices fell this morning on concerns over the coming production recovery and if it will again move supply to higher levels than demand justifies.
Lukoil installs accommodation platform jacket in Caspian Sea
Lukoil has completed installation of a jacket for an accommodation platform topside at the V.I. Grayfer field.
Hurricane Energy given extension for Greater Warwick Area work
Hurricane Energy has been given further time by the Oil and Gas Authority to carry out work in the Lincoln subarea of Licence P1368 in the UK North Sea.
Neptune Energy announces 1Q20 results
The company's EBITDAX was US$322.9 in 1Q20, compared to US$451 million in 4Q19.