How Coronavirus Crisis Has Changed Underwriting at Lloyd’s Thousands of London’s underwriters took their stamps and fountain pens home last week, which they use to sign insurance contracts, but they won’t need them. Working at home due to the coronavirus lockdown, they have abandoned…
The United States’ energy dominance is now under direct threat, according to six US senators. That is according to an open letter sent to US Secretary of State Mike Pompeo on the 25th March, which was signed by six US senators. “During this…
Norwegian oilfield services provider Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement to provide offshore maintenance and modification services to Shell in Brunei. Aker Solutions said on the 29th March that the scope of work covers maintenance…
The Equinor-operated Johan Sverdrup field in the North Sea is expected to reach plateau production for the first phase in early May, which is earlier than anticipated. Equinor said on the 29th March that, due to higher plant capacity, plateau production would increase from…
INEOS’ announcement that it would postpone its scheduled maintenance for the Forties pipeline system (FPS) in the UK central North Sea could add several hundred thousands of extra barrels a day to the market, Rystad Energy has warned. The consultant has consequently raised its…
Rosneft has announced the termination of its operations in Venezuela and the disposal of its assets, related to operating in Venezuela. Rosneft has concluded an agreement with the company 100% owned by the Government of Russian Federation, to sell all of its interest and…
Carnegie-Brown provides Covid-19 leadership with “jeopardy” warning As political pressure grows on insurers across the globe to Coronavirus-related claims even if there are valid exclusions in place, the Lloyd’s chairman has warned the industry it could be “in jeopardy” if they succeed. Insurance should…
Only the old hands at the Coffeyville oil refinery could remember anything like the prices posted this month. The small Kansas plant in the heart of rural America was offering just US$1.75 a barrel for Wyoming sweet crude. With more than two billion people…
Teekay, which has recently decided to change its name to Altera Infrastructure, has entered into a new bareboat charter contract with the Foinaven operator, a subsidiary of BP, for the Petrojarl Foinaven FPSO unit for up to approximately ten years. Under the terms of…
PJSC Gazprom Neft subsidiary JSC Gazpromneft-ONPZ has started installation of equipment for its previously announced biosphere closed-loop wastewater treatment plant as part of the second phase of the operator’s ongoing modernisation programme to reduce environmental impacts and improve processing capacities, conversion rates, energy efficiency, and…
