Global oil demand growth is expected to slow to 1.

Ophir Energy has awarded Upstream Front End Engineering and Design (FEED) contracts for the Fortuna FLNG Project in Block R, Equatorial Guinea to two contractor consortia, (i) McDermott Marine Construction Ltd and GE Oil & Gas UK Ltd and (ii) Subsea 7 and Aker Solutions.

Sub-Atlantic, a manufacturer of remotely operated vehicles (ROV), has won a second contract with Italian oil and gas subsea services provider, AALEA Offshore.

Norway’s Statoil has awarded Baker Hughes an eight-year contract to design and supply production chemicals to the offshore Norne field and the deepwater Aasta Hansteen field in the Norwegian Sea.

Saga Tankers’ potential acquisition of the Oslo-listed Standard Drilling has hit a stalemate.

Sinopec Corp said on Wednesday that it expected an 11-fold jump in quarterly net profit, and has halted trading on the Hong Kong bourse until Thursday.

Oilfield services firms are scrambling for contracts from India, which has emerged as a rare bright spot for the sector hardest hit by a slump in global crude oil prices that has driven most countries to slash spending on exploration and production.

China is opening its crude oil imports to buyers outside of the state-owned sector, and independent refiners could get approvals for up to 600,000 barrels per day (bpd) in shipments this year.

Oil and gas services provider Petrofac Ltd.

A handful of optimistic U.