Oil prices edged higher on Thursday ahead of an OPEC meeting where members are expected to agree on deeper output cuts in an attempt to prop up prices and prevent a glut next year, reports Aljazeera. OPEC was seeking to increase production cuts by the group and its allies by Russia by more than 400,000…
French offshore vessel owner Bourbon has been awarded an integrated logistics contract by compatriot oil major Total in Namibia. Bourbon said on Monday that its Marine & Logistics arm would support Total’s deep offshore exploration campaign in South Namibia in 2020. The project scope covers the provision of a logistics base, freight forwarding, custom clearance,…
Reports emerged from Offshore Energy Today last week of a potential merger between UK’s Subsea 7 and Italy’s Saipem, saying that a combination of the two could rank as one of the European oil services industry’s biggest-ever deals. Norway’s Rystad said the deal would create the fourth-largest oilfield service company. Bloomberg said last Thursday that…
The Seven Energy Group, a Nigerian oil and gas exploration, development, production and distribution company, has just completed the sale of its assets in an acquisition, by a British firm, Savannah Petroleum Plc. According to Punch, the Chief Executive Officer, Savanah Petroleum, Andrew Knoot expressed his joy about the completion of the acquisition. He said,…