Blockline And Associate Ltd Blog
Blockline and Associate Ltd are sellers of light crude oil and other petroleum products. We also sell and lease out marine equipments, construction machinery and other equipments.
We sell Crude Oil, D2, AGO and other Petroleum product such as:
Nigeria Bonny Light Crude Oil (BLCO, FLCO and ALCO, etc): We sell mostly on FOB, CIF, TTO and TTT/STS Basis.
Automotive Gas Oil (AGO) and D2: We sell mostly on CIF and TTT/STS.
Bitumen: We sell on CIF and FOB Basis
Marine Equipments/Machines:
We sell and lease all kinds of marine equipments/machines.
Well sell and lease all kinds of vessel e.g. oil tanker, cargo vessel, crew vessel etc.
We sell and lease tug-boats of all kinds.
We sell and lease barges and sea going barges.
We sell and lease dredgers, swamp-buggy, cranes of all kinds, tug-boats of all kinds bulldozers, etc.
Crushing machine of all kinds and screening plant: We sell on CIF and FOB Basis.
Steel and Metal:
We sell steel pipes and tubes of all kinds
We sell metals of all kinds.
GENERAL CONTRACTORS:
We are also into real estate, transportation, communications and more.
Wednesday, 31 May 2017
Recovery of Libya’s largest oil field boosts OPEC country's output
Libya’s biggest oil field boosted production, allowing the OPEC nation to pump crude at the highest level since October 2014. ...»
Transocean sells jackup fleet to Borr Drilling for $1.35 billion
Transocean Ltd. has announced that it has completed the previously disclosed transaction to sell its jackup fleet to Borr Drilling Limited for a total consideration of approximately $1.35 billion. ...»
Shell completes divestment of oil sands interests in Canada
Royal Dutch Shell plc has announced the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources that will see Shell sell all its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60% to 1 ...»
Biggest Libyan oil field recovery boosts OPEC country's output
Libya’s biggest oil field boosted production, allowing the OPEC nation to pump crude at the highest level since October 2014. ...»
OPEC and Russia outline vision for permanent oil alliance
OPEC and Russia added more detail to their vision for a permanent alliance between oil producers currently working to clear a global surplus. ...»
Exxon CEO sees crude oil surviving Paris-driven carbon limits
Oil demand will continue to grow in coming decades even as nations around the world restrict greenhouse-gas emissions to counter climate change, said Exxon Mobil Corp. CEO Darren Woods. ...»
CGG Geoconsulting awarded OGA contract for digital well products
CGG GeoConsulting announced today that it has been awarded a contract to supply digital well products to the Oil and Gas Authority (OGA), the UK Government industry regulator, as part of a wider tender for comprehensive subsurface databases and information sources to encourage further exploration in underexplored areas of the UK Continental Shelf (UKCS). ...»
Baker Hughes, GE receive transaction clearance from European Commission
Baker Hughes Incorporated and General Electric Company announced that the European Commission has cleared the proposed transaction between Baker Hughes and GE’s oil and gas business under EU merger control rules. ...»
TGS announces its second Permian seismic project in 2017
TGS announces its second Permian seismic project in 2017. The West Lindsey 3D multi-client seismic survey is located to the southwest of the previously announced West Kermit 3D. This new project will encompass a minimum of 190 mi2 predominantly in Reeves County, Texas. ...»
SIMMONS EDECO partners with Cordax to offer LWT services
SIMMONS EDECO, a leading global oilfield service provider, announced it has joined forces with Cordax Evaluation Technologies to provide highly cost-effective “Logging-While-Tripping” (LWT) openhole formation evaluation services. ...»
Kinder Morgan Canada falls in trading debut as foes align
Kinder Morgan Canada Ltd. fell 4.5% in its trading debut, a day after two political parties in British Columbia that oppose the company’s pipeline expansion joined forces in a bid to topple the province’s more energy-friendly Liberal government. ...»
Worst offshore slump holds key lessons for top Norway banker
Norway’s biggest bank is done comparing: The downturn in the country’s offshore services market has no precedent. ...»
SIMMONS EDECO joins forces with Cordax Evaluation Technologies to offer LWT services
SIMMONS EDECO, a leading global oilfield service provider, announced it has joined forces with Cordax Evaluation Technologies to provide highly cost-effective “Logging-While-Tripping” (LWT) openhole formation evaluation services. ...»
BOURBON and Kongsberg Maritime strengthen collaboration in digital solutions
Having established a good business relationship for many years, BOURBON and Kongsberg Maritime have now signed a strategic agreement of collaborative development on connected and autonomous vessels. ...»
Dover Energy Automation introduces performance management system
Dover Energy Automation launched a new system that can simplify a multitude of challenges that executives face while evaluating equipment reliability and efficiency across an enterprise. ...»
Oil falls amid doubts OPEC curbs will counter U.S. shale production
Oil fell amid doubts that prolonged cuts by OPEC will succeed in clearing a surplus. ...»
Saudi Arabia's $5.2 billion maritime project boosts Lamprell
Shares in Lamprell Plc gained 14% after the company partnered with Saudi Aramco to develop the biggest maritime yard in the region. ...»
Tuesday, 30 May 2017
Trouble brewing for OPEC as once costly deepwater drilling turns cheap
Reports of deepwater drilling’s demise in a world of sub-$100 oil may have been greatly exaggerated, much to OPEC’s dismay. ...»
Abrado awarded North Sea multi-string section milling services contract
Abrado has announced that it has been awarded a contract from a major international North Sea operator for dual-string section milling services utilizing its proprietary Medusa cutting technology. ...»
Trelleborg develops standardized buoyancy module system
Trelleborg’s offshore operation recently developed a new standardized buoyancy module system to reduce lead times for customers. An innovative ‘off the shelf’ solution, it offers a viable alternative to custom options for some projects. ...»
Dana Gas JV seeks $26.5 billion in damages from Iraqi Kurds
Dana Gas PJSC and its partners are seeking damages of at least $26.5 billion from Iraq’s self-governing Kurdish region for delays in oil and natural gas projects, a U.S. court filing shows. ...»
Exxon's Greenlee scheduled for keynote speech at SEG 2017 annual meeting
Stephen Greenlee, president of Exxon Mobil Exploration Company and vice president of Exxon Mobil Corporation, will be the keynote speaker at the Society of Exploration Geophysicists 87th Annual Meeting. ...»
Exxon's Greenlee scheduled for keynote speech at Society of Exploration Geophysicists' 2017 annual meeting
Stephen Greenlee, president of Exxon Mobil Exploration Company and vice president of Exxon Mobil Corporation, will be the keynote speaker at the Society of Exploration Geophysicists 87th Annual Meeting. ...»
Bibby Offshore secures significant contract with TAQA
Bibby Offshore, a leading subsea services provider to the oil and gas industry, has been awarded a significant contract with TAQA for subsea construction works in Eider field, located 184 km north-east of Shetland. ...»
Ensco to acquire Atwood Oceanics, Inc.
Ensco plc and Atwood Oceanics, Inc., have jointly announced that they have entered into a definitive merger agreement under which Ensco will acquire Atwood in an all-stock transaction. ...»
LINN Energy announces sale of Wyoming assets for $71.5 million
LINN Energy, Inc., has announced that it has signed a definitive agreement to sell its interest in properties located in Salt Creek field in Wyoming to Denbury Resources Inc. for a contract price of $71.5 million, subject to closing adjustments. ...»
Add Energy awarded £1-million contract with BP in Egypt
Add Energy, the international energy consultancy provider, has been awarded a maintenance build contract worth more than £1 million with BP for work on West Nile Delta (WND), a development located just off the north coast of Egypt. ...»
Oil slides as traders await evidence OPEC cuts are working
Oil declined in New York as traders awaited further proof that production cuts by OPEC are having an effect. ...»
Putin, Saudi Prince to meet after oil-supply deal finalized
Russian President Vladimir Putin is to meet with Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman in Moscow Tuesday after the world’s biggest oil exporters reached a deal to prolong supply cuts for another nine months. ...»
Exxon Mobil squares off with shareholders in annual climate showdown
This week will be a public trial by fire for new Exxon Mobil CEO Darren Woods. ...»
Norway bolsters oil-industry defenses against foreign takeovers
Norway is seeking greater leeway to restrict foreign ownership of its offshore fields. ...»
SDX Energy announces well test results at South Disouq discovery
SDX Energy Inc., the North Africa focused oil and gas company, is pleased to announce the results of the well test conducted on the SD-1X well following the recent natural gas discovery at South Disouq, Egypt. ...»
Greece's Energean signs first deal to supply gas to Israel
Energean Oil and Gas Group signed contracts to supply private Israeli power plants with natural gas, the first deals to compete with the partners who dominate the country’s energy industry. ...»
Monday, 29 May 2017
Swire Oilfield Services announces appointment of new CEO
Swire Oilfield Services has today announced that Manfred Vonlanthen will succeed John Bruce (J.B) Rae-Smith as the company’s CEO. ...»
Oceaneering announces 10-year ROV vessel services contract
Oceaneering International, Inc., announced that one of its subsidiaries, Oceaneering Canada Limited, has entered into an agreement, expected to extend into 2026, with a major international oil and gas company, to provide remotely operated vehicle (ROV) services and equipment for projects located offshore of Newfoundland and Labrador, Canada. ...»
ONGC posts surprise profit drop on royalties, weak gas price
Oil and Natural Gas Corp.’s quarterly profits missed estimates for a gain as lower gas revenues and a jump in royalty payments outweighed the boost from higher crude prices. ...»
Husky approves West White Rose Project, reports new discovery
Husky Energy is moving forward with the West White Rose Project, offshore Newfoundland and Labrador. ...»
OPEC wins hedge funds back with jump in oil bets before deal
Hedge funds are giving OPEC some credit again. ...»
Oil rises second day as OPEC cuts seen bringing stockpiles lower
Oil rose on expectations OPEC will succeed in bringing down inventories as the summer driving season kicks off in the U.S. ...»
BHP CEO tells investors options for U.S. shale under review
BHP Billiton Ltd. is assuring shareholders that it’s exploring numerous options for its contentious U.S. shale unit amid pressure from activist investor Elliott Management Corp. to carry out a wider review of petroleum operations. ...»
Friday, 26 May 2017
Saudis take aim at swollen U.S. oil stockpiles in strategy shift
After sparing its prized U.S. market from oil-output cuts, Saudi Arabia plans to "markedly" reduce exports to its political ally in the coming weeks in an effort to reduce swollen and highly visible crude inventories in the world’s biggest consumer. ...»
OPEC insiders reel as key minister is fired during meeting
As OPEC ministers gathered in Vienna yesterday to agree a nine-month extension of their oil-supply pact, the man credited with bringing about the landmark deal learned from a news broadcast that he had been fired. ...»
Interoil issues drilling update on Vikingo-1 exploration well in Colombia
Interoil Colombia EandP and SLS (strategic partner) finished the drilling of the exploratory well Vikingo-1 on May 9th, down to a final depth of 5,936 ft in the Paleozoic basement. ...»
UKOG commences drilling of BB-1 well in Weald basin, UK
UK Oil and Gas Investments PLC has announced that the drilling rig and key equipment necessary to drill the Broadford Bridge-1 (BB-1) Kimmeridge Limestone well are now on site. All regulatory permissions are now in place and drilling is expected, therefore, to commence shortly. ...»
Kinder Morgan commits to pipe linking Canadian crude to Asian markets
Kinder Morgan Inc. has committed to expanding a pipeline that will allow Canadian crude to be exported to Asia, a controversial C$7.4 billion ($5.5 billion) project that’s set to face revitalized opposition amid political upheaval in the nation’s Pacific Coast province. ...»
TGS and PGS announce fourth 3D seismic project offshore eastern Canada
TGS and Petroleum Geo-Services (PGS) announce the fourth 3D seismic project offshore Eastern Canada for 2017. Long Range 3D will comprise approximately 9,100 km2 of 3D GeoStreamer data in the Eastern Newfoundland region. ...»
GE Oil and Gas and Alpha Petroleum to partner on North Sea’s Cheviot oil field
Alpha Petroleum, which is backed by upstream oil and gas investment firm Petroleum Equity, today announces an agreement with GE Oil and Gas to partner on the advancement of the subsea infrastructure for the Cheviot oil field, one of the largest undeveloped fields in the UK North Sea with 55 MMbbl of oil and 20 MMboe of future gas production. ...»
OPEC leaves market guessing on exit strategy after oil pact
OPEC may be celebrating an historic deal to extend supply cuts, but after the party, the organization will face a trio of questions it left unanswered. ...»
Goldman warns OPEC faces test as spectre of U.S. shale looms
As the oil market responds skeptically to OPEC’s output-cut deal, Goldman Sachs Group Inc. says the group has some challenges to tackle. ...»
Shell announces start of deepwater production at newest FPSO in Santos basin
Royal Dutch Shell plc, through its subsidiary BG EandP Brasil Ltda. (Shell) and consortium partners in Lula South, announce today that deepwater production has started at the FPSO P-66, which is located in the Brazilian pre-salt of the Santos basin. ...»
Shell announces start of deepwater production at newest FPSO in Brazil's Santos basin
Royal Dutch Shell plc, through its subsidiary BG EandP Brasil Ltda. (Shell) and consortium partners in Lula South, announce today that deepwater production has started at the FPSO P-66, which is located in the Brazilian pre-salt of the Santos basin. ...»
Russia's Novak sees room to do more for oil after OPEC flop
After top oil exporters failed to impress markets with their extended supply cuts, Russia’s Alexander Novak said there’s more they can do. ...»
Thursday, 25 May 2017
Nigerian Senate passes delayed oil industry governance bill
Nigerian senators passed a bill to reform the country’s oil and gas industry almost a decade after it was first proposed to lawmakers, Senate President Bukola Saraki said. ...»
Flat Time Reduction launches Lean Oilfield Solutions
Flat Time Reduction (FTR), a Houston-based engineering and management consulting firm, has developed a new system tailored specifically for the oil and gas industry, based on the proven methodology behind lean manufacturing. ...»
Crude slumps below $50 as market is underwhelmed by OPEC deal
Oil fell below $50 after OPEC stuck to the most predictable outcome at a meeting in Vienna. ...»
TWMA secures projects with Maersk Oil UK
International environmental solutions provider, TWMA, has been awarded two new projects with Maersk Oil UK in the Central North Sea. ...»
First oil expected from Kraken in June, says EnQuest CEO
EnQuest CEO Amjad Bseisu said that Kraken is 'on track' for first oil by the end of June. ...»
CGG launches Multi-Physics Imaging for more complete subsurface understanding
CGG’s Multi-Physics business line has launched its Multi-Physics Imaging group, consolidating its recognized expertise in multi-physics data processing and interpretation, trusted technical consulting services and specialized commercial software development into a single global team. ...»
In cooperation with Statoil, Emerson announces completion of Total Uncertainty Management program
Emerson has announced the completion of its Total Uncertainty Management program in cooperation with Statoil. ...»
Wood Group signs long-term, global agreement with Hess Corp.
Hess Corporation has signed a non-exclusive, 10-year global agreement with Wood Group to provide engineering, project management, construction, commissioning, operations and maintenance, integrity management, subsea, and decommissioning services. ...»
Equatorial Guinea to join OPEC, pledges to advance interests of African producers
Equatorial Guinea will join OPEC, it was announced at an historic meeting of global oil producers in Vienna today. The Central African oil and gas producer will be Sub-Saharan Africa’s fourth OPEC member, bringing a wealth of experience and African diplomatic reach to the global oil exporters’ club. ...»
Equatorial Guinea to join OPEC, pledges to advance interests of African producers
Equatorial Guinea will join OPEC, it was announced at an historic meeting of global oil producers in Vienna today. The Central African oil and gas producer will be Sub-Saharan Africa’s fourth OPEC member, bringing a wealth of experience and African diplomatic reach to the global oil exporters’ club. ...»
Energean signs lease agreement for Aitoloakarnania block, onshore western Greece
Energean Oil and Gas has announced that it has signed a lease agreement with the Greek government for the exploration and exploitation of hydrocarbons at the Aitoloakarnania block, onshore western Greece. ...»
Goldman sees OPEC cut dwarfing U.S. oil sale, if it occurs at all
OPEC can rest easy even on the off chance that Donald Trump’s plan to sell U.S. oil reserves comes to fruition, according to Goldman Sachs Group Inc. ...»
Crude oil weakens as OPEC disappoints with `safe bet' extension
Oil weakened after OPEC was said to agree to extend output cuts for another nine months, disappointing investors who had hoped for more. ...»
OPEC seen reducing crude exports to U.S., while U.S. ships more
OPEC is finally making the move that could help complete a mission that it’s failed so far: shipping less oil to the U.S., according to Sanford C. Bernstein. ...»
Faroe Petroleum reports drilling of Brasse appraisal well in Norwegian North Sea
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, is pleased to announce the commencement of the Faroe-operated Brasse appraisal well 31/7-2S in the Norwegian North Sea (Faroe 50%). ...»
Venezuela’s secret plot to sell banned Syrian oil in U.S. market
Syria and Venezuela plotted in recent years to evade international sanctions on Syria through a secret deal to transport its crude oil through Russia to the Caribbean. ...»
Oil shrugs off U.S. supply drop as investors await OPEC meeting
Oil investors shrugged off declining U.S. stockpiles as they held their breath ahead of OPEC’s meeting on Thursday. ...»
Wednesday, 24 May 2017
Texas Railroad Commissioner Ryan Sitton discusses innovative disruption in energy
Railroad Commissioner Ryan Sitton met with 100 senior level oil and gas executives in Houston yesterday for "An Energy Evening" hosted by KCA, a business consultancy serving energy, technology and legal clients. ...»
Trump proposes $204.9 million budget for BSEE in 2018
President Donald Trump has proposed a $204.9 million Fiscal Year (FY) 2018 budget for the Bureau of Safety and Environmental Enforcement (BSEE). ...»
BSEE announces Scott A. Angelle stepping in as new director
Former Louisiana state official Scott A. Angelle has been appointed director of the Bureau of Safety and Environmental Enforcement, tasked with fostering safe and responsible energy production on the U.S. outer continental shelf through regulatory oversight of oil and gas operations. ...»
Exxon Mobil awards contract extension for Maersk Viking drillship
Maersk Drilling has been awarded a contract extension for the ultra-deepwater drillship Maersk Viking, by oil major Exxon Mobil. The estimated value of the contract extension is $22.5 million, with a duration of 150 days. ...»
OPEC fails to ease global oil glut, but gets more cash anyway
At first glance, OPEC’s cuts haven’t worked -- global oil inventories remain well above normal levels. But the policy’s made a difference where it really counts: juicing the coffers of finance ministries from Baghdad to Caracas. ...»
Iraq mulls largest sovereign oil-hedging deal, topping Mexico
Iraq is mulling an oil hedging program to lock in prices for future crude sales, potentially topping a similar deal run by Mexico that is considered the largest energy trade in Wall Street. ...»
Trump's bid to sell U.S. reserve oil could undermine OPEC cuts
President Donald Trump has proposed selling off more than half of the U.S. emergency oil stockpile, potentially putting more crude on the global market and undermining OPEC’s efforts to prop up prices. ...»
Iran's maxed-out crude output eases OPEC push to extend cuts
Iran’s oil industry bounced back from sanctions last year, cranking up output to recover market share from other OPEC producers. Now that its surge has topped out, Iran supports an extension of the group’s cuts to preserve those gains. ...»
Tycoon hopeful for Xi, Duterte energy deal in South China Sea
One of the most prominent tycoons in the Philippines is increasingly optimistic that President Rodrigo Duterte can strike a deal with China to share oil and gas deposits in a disputed part of the South China Sea. ...»
Billionaire Ratcliffe hunts oil to repeat chemicals empire
Billionaire Jim Ratcliffe is seeking to replicate in oil what he did two decades ago to make Ineos AG into one of the world’s five biggest chemicals producers. ...»
Subsea Systems Institute launches digital upstream project
The Subsea Systems Institute (SSI) announces that, in partnership with Endeavor Management and World Oil, it will sponsor an industry-based initiative focused on adapting the broad area of digitalization to the upstream oil and gas industry. ...»
NorSea Group and Kongsberg Group establish digital collaboration
NSG Digital, a new company set up by NorSea Group to simplify logistics through digital technology, has established a collaborative agreement with the Kongsberg Group. ...»
DONG Energy divests upstream business to INEOS
DONG Energy has today agreed to divest the entire share capital of DONG EandP A/S to INEOS for an unconditional payment of DKK 7.0 billion on a cash and debt free basis, a contingent payment of $150 million (DKK 1.0 billion) related to the Fredericia stabilization plant and a contingent payment of up to $100 million (DKK 0.7 billion) subject to the development of Rosebank field. ...»
LINN Energy sells interest in San Joaquin basin for $263 million
LINN Energy, Inc. has announced that it has signed a definitive agreement to sell its interest in properties located in the San Joaquin basin, Calif., to an undisclosed buyer for a contract price of $263 million, subject to closing adjustments. ...»
Statoil to start producing from Norway's Gina Krog field
The Norwegian Petroleum Directorate has granted consent for start-up of production from the Gina Krog field in the North Sea, and the operator—Statoil—is planning start-up in late June 2017. ...»
Canadian recovery made difficult, as oil patch strains for hands
After years of being a magnet for job seekers, Canada’s oil patch is turning into a bit of a no-go place -- and that’s making a recovery harder. ...»
Statoil to start producing from Norway's Gina Krog field in late June
The Norwegian Petroleum Directorate has granted consent for start-up of production from the Gina Krog field in the North Sea, and the operator—Statoil—is planning start-up in late June 2017. ...»
OPEC close to deal to extend supply cuts for nine months
OPEC and its allies were close to an agreement to extend their oil-production cuts for another nine months as they seek to prop up prices and revive their economies. ...»
Seadrill stock jumps 26% as debt talks progress
Seadrill stock jumped 26% as the offshore driller said it’s getting closer to a solution to restructure the industry’s heaviest debt load. ...»
Oil holds gain as data show U.S. supplies fall before OPEC meets
Oil rose a sixth consecutive day as industry data showed U.S. crude stockpiles declined before OPEC meets to decide on extending supply cuts. ...»
Tuesday, 23 May 2017
Mexico oil reform advances with first private well in 80 years
For the first time in almost 80 years, a private company has sunk a new offshore oil well in Mexican waters -- the latest step in the country’s drive to allow foreign competitors back into its energy markets. ...»
Serinus Energy halts production in Tunisia, as protestors block roadways
Serinus Energy Inc. has announced that it has temporarily shut-in production at Sabria field in Tunisia, due to continued social unrest in the southern part of the country. ...»
Petrobras to divest 100% stake in Brazil's Juruá field
Petrobras has begun the disclosure phase of the teaser regarding the transfer of Petrobras’ stake in the Juruá field, in the Solimões basin. ...»
Jadestone Energy withdraws from Bone PSC, offshore Indonesia
Jadestone Energy Inc. has announced, in line with the Company’s strategy, its withdrawal from the Bone production sharing contract offshore Indonesia, a further key step in releasing the company from non-strategic exploration assets. ...»
Flint Hills Resources Houston awarded EPA's ENERGY STAR Partner of the Year Award
Flint Hills Resources Houston, a Koch Industries company, announced it has earned the U.S. Environmental Protection Agency’s (EPA) ENERGY STAR Partner of the Year Award for 2017. ...»
Subsea Systems Institute announces upstream digital transformation JIP
The Subsea Systems Institute (SSI) is pleased to announce that it has formed an alliance with Endeavor Management and World Oil to offer a joint industry project (JIP) focusing on a portfolio of upstream industry issues related to digitization of the upstream oil and gas industry. ...»
White Knight doubles reserves, acreage and production with TXON-SCZ merger
White Knight Production I (WKP) has announced the prior closing of its combination with TXON-SCZ, LLC, bringing together the assets of the two private, independent oil and gas portfolio companies of private equity firm Bayou City Energy (BCE). ...»
Trump proposes selling off half the U.S. strategic oil reserve
The White House plan to trim the national debt includes selling off half of the nation’s emergency oil stockpile, part of a broad series of changes proposed by President Donald Trump to the federal government’s role in energy markets. ...»
Proserv Middle East secures multiple contract awards
Energy services company Proserv has been awarded a series of contracts worth a combined value of more than $11 million for its production control new-build and after-market services in the Middle East. ...»
OPEC on verge of nine-month cuts extension after Iraq backing
OPEC is poised to continue their production cuts for another nine months after Iraq backed an extension. ...»
Serinus Energy halts production at Sabria field in Tunisia, as protestors block roadways
Serinus Energy Inc. has announced that it has temporarily shut-in production at Sabria field in Tunisia, due to continued social unrest in the southern part of the country. ...»
Abrado Wellbore Services expands into North Sea, UK market
Abrado announced today that it has opened new operations in Aberdeen, Scotland to expand its global presence. The new office, located at Stacey Oilfield Services Ltd. 5 Badentoy Cres. Portlehen, Aberdeen will be composed of sales and engineering resources, with downhole video and proprietary Medusa cutting technology equipment to support a growing customer base. ...»
Oil trades near one-month high as OPEC poised to extend cuts
Oil was little changed near a one-month high as traders weighed the prospect of OPEC prolonging production cuts. ...»
Oil declines after four-day gain amid doubts over OPEC strategy
Oil halted its advance amid concern that OPEC’s struggle to drain bloated stockpiles will persist, even as ministers look set to prolong production curbs later this week. ...»
OPEC on verge of 9-month cuts extension after Iraq backing
OPEC is poised to continue their production cuts for another nine months after Iraq backed an extension. ...»
Equatorial Guinea partners with Arabian Energy to build Bioko Oil Terminal
Following the signing of an agreement between the Government of Equatorial Guinea and Arabian Energy to work together on the Bioko Oil Terminal, the realization of the petroleum tank farm gained important momentum. ...»
OPEC on verge of 9-month cuts extension after Iraq gives backing
OPEC is poised to continue their production cuts for another nine months after Iraq backed an extension, removing one of the last remaining obstacles to an agreement. ...»
Monday, 22 May 2017
GEST issues statement on appointment of Scott Angelle to director of BSEE
Lori LeBlanc, executive director of the Gulf Economic Survival Team, issued the following statement today on the appointment of Louisiana Public Service Commissioner and former Louisiana Department of Natural Resources Secretary Scott Angelle to the post of director of the U.S. Department of Interior’s Bureau of Safety, Energy and Environment (BSEE). ...»
Premier Oil JV spuds Zama-1 exploration well, offshore Mexico
Premier is pleased to announce that the Zama-1 exploration well in Block 7 (Premier equity 25%) in the shallow water Sureste basin, offshore Mexico, was spudded on May 21, 2017. ...»
Callawonga-14 well is cased and suspended as future oil producer, Cooper Energy says
Cooper Energy has announced that Callawonga-14, an appraisal and development well drilled by the PEL 92 Joint Venture in PPL 220, has been cased and suspended as a future oil producer. ...»
Oil rises to one-month high as Saudis see output curbs into 2018
Oil rose to the highest in a month as Saudi Arabia said all producers participating in output cuts agree on extending the deal through the first quarter of 2018. ...»
Eni starts production from Cape Three Points block, offshore Ghana
Eni has launched production from the Integrated Oil and Gas Development Project, in the Offshore Cape Three Points (OCTP) block, off Ghana’s western coast, in just two and a half years, and three months ahead of schedule, reaching another record time-to-market. ...»
China's love for U.S. gas begins as Trump rolls out red carpet
Let the gushing begin. After an executive from U.S. liquefied natural gas exporter Cheniere Energy Inc. spoke to a few hundred people at a conference in Beijing last week, the first question from the audience turned out to be an invitation to visit one of China’s biggest energy firms and a main LNG buyer, the state-owned giant known as Sinopec. ...»
FrontRow Energy acquires ClearWELL Oilfield Solutions
FrontRow Energy Technology Group Limited has announced the acquisition of ClearWELL Oilfield Solutions, an oil and gas technology company focused on flow assurance and production optimization. ...»
Rouhani win seen speeding Iran's oil push amid Trump threats
Iranian President Hassan Rouhani is in a stronger position after his re-election to push through plans for wooing foreign investors the country needs to boost oil production, according to analysts at Cornerstone Global Associates and SVB Energy. ...»
Sound Energy to re-enter Kechoula discovery, onshore Morocco
Sound Energy, the African and European focused upstream gas company, is pleased to announce that the SAIPEM rig has now arrived at the Company's Sidi Moktar asset, onshore Morocco, ahead of the re-entry and testing of the Lower and Middle Jurassic in two existing wells on the Kechoula discovery. ...»
Premier Oil spuds Zama-1 exploration well, offshore Mexico
Premier is pleased to announce that the Zama-1 exploration well in Block 7 (Premier equity 25%) in the shallow water Sureste basin, offshore Mexico, was spudded on May 21, 2017. ...»
BP starts production from Quad 204 project, west of Shetland
BP announced first oil from the redeveloped Schiehallion Area, following completion of the Quad 204 project in the west of Shetland region, offshore UK. ...»
Wood Group secures contract with Sakhalin Energy
Wood Group has secured a services contract with Sakhalin Energy, an operator of Sakhalin-2; one of the world’s largest integrated oil and gas projects. ...»
Wood Group secures contract with Sakhalin Energy Investment
Wood Group has secured a services contract with Sakhalin Energy, an operator of Sakhalin-2; one of the world’s largest integrated oil and gas projects. ...»
OPEC's worst cheater will get harder to ignore as curbs falter
OPEC’s second biggest producer is also its biggest cheater. And if past is prologue, that lengthens the odds the group will be able to squeeze too many more price gains out of its output cuts. ...»
BP starts oil project that will help double its UK output
BP started a project in the UK North Sea that will restore production halted since 2013 and help double the company’s output in the area by the end of the decade. ...»
Sunday, 21 May 2017
OPEC keeps focus on shale threat as officials meet in Vienna
OPEC officials gathering in Vienna on Friday to prepare for next week’s ministerial meeting kept their focus on rising U.S. shale oil production, which has been diluting the price impact of their production cuts. ...»
Saudis greet Trump with deals worth billions of dollars
Saudi Arabia welcomed U.S. President Donald Trump with agreements for deals worth tens of billions of dollars on Saturday, as he embarked on his first state visit to the kingdom, which is undertaking unprecedented economic reforms. ...»
McDermott and Saudi Aramco announce MOU as part of IKTVA initiative
McDermott International, Inc., signed another memorandum of understanding (MOU) with Saudi Aramco to expand and develop the company’s physical and human capital within Saudi Arabia as part of Aramco’s In-Kingdom Total Value Add (IKTVA) initiative. ...»
Schlumberger signs MOU with Saudi Aramco
Schlumberger has signed a memorandum of understanding with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, in alignment with the Kingdom’s economic vision for 2030. ...»
Friday, 19 May 2017
Petrobras starts production on platform P-66 in Santos Basin's pre-salt Lula Field
Petrobras and its partners in the BM-S-11 Consortium have started producing oil and natural gas from the Santos Basin’s pre-salt Lula Sul field. ...»
Nigeria oil union says dispute with Exxon threatens output
Nigeria’s manager-level oil union will continue a strike indefinitely at Exxon Mobil Corp.’s local unit, threatening output after talks with the company to end the action reached an impasse, a labor official said. ...»
BOEM publishes final notice for June Cook Inlet lease sale
The Bureau of Ocean Energy Management (BOEM) today announced it will offer approximately 1.09 million acres off Alaska’s southcentral coast in a lease sale scheduled for June 21. ...»
API says April petroleum demand highest since 2008
Total petroleum deliveries in April moved up by 1.7% from April 2016 to average 19.6 MMbpd. These were the highest April deliveries in nine years, since 2008. ...»
NPD awards framework agreements to 11 supplier firms
To ensure sufficient capacity to be an even better champion for developing new fields and improving recovery from producing fields, the Norwegian Petroleum Directorate (NPD) has awarded framework agreements to 11 supplier firms, representing various technology areas. ...»
Gazprom Neft receives approval for investigation, development of Bazhenov formation
The Ministry of Energy of the Russian Federation has approved Gazprom Neft’s application for its project on “Developing Domestic Technologies and High-technology Equipment to Develop Reserves at the Bazhenov Formation” to be awarded the status of a national project. ...»
Traders brace for first winter without UK's big gas store
For the first time in more than three decades, natural gas traders, utilities and producers are preparing for a winter without the UK’s biggest storage facility. ...»
Oil rises above $50 as OPEC members seen backing longer cuts
Oil rose above $50/bbl in New York for the first time in three weeks on the expectation that OPEC will reaffirm efforts to drain a global glut. ...»
Halliburton launches drilling operations for Lukoil at Vostochno-Taimyrsky
Halliburton Company has announced that it launched drilling operations in the Zhuravlinaya area of the Vostochno-Taimyrsky license block for Lukoil in early April. ...»
U.S. shale roars back at OPEC
OPEC may get its members to agree to continue to tamp down oil production, but it will be a Pyrrhic victory. ...»
Canada's Permian of the north roused by cheap gas drilling
Drilling rigs and roughnecks are hot commodities once again across the Montney shale play in western Canada, and service companies are having a hard time keeping up with demand. ...»
Thursday, 18 May 2017
Anadarko’s Walker: Oil won’t move past $60/bbl before 2020, industry needs NAFTA
Crude oil prices have varied widely in the past year, and Anadarko CEO Al Walker doesn’t think prices will extend beyond the $50-$60/bbl range before the end of the decade. ...»
Anadarko’s Walker: Oil prices won’t move past $60/bbl before 2020, industry needs NAFTA
Crude oil prices have varied widely in the past year, and Anadarko CEO Al Walker doesn’t think prices will extend beyond the $50-$60/bbl range before the end of the decade. ...»
Anadarko’s Walker: Oil prices won’t move past $60/bbl before 2020, NAFTA necessary for natural gas stability
Crude oil prices have varied widely in the past year, and Anadarko CEO Al Walker doesn’t think prices will extend beyond the $50-$60/bbl range before the end of the decade. ...»
Wild Well purchases subsea capping equipment from Shell EP Wells Equipment Services
Wild Well Control, Inc., a Superior Energy Services company and a global leader in well control and engineering services, has purchased subsea capping equipment from Shell EP Wells Equipment Services B.V. ...»
Wild Well purchases subsea capping equipment from Shell EP Wells Equipment Services B.V.
Wild Well Control, Inc., a Superior Energy Services company and a global leader in well control and engineering services, has purchased subsea capping equipment from Shell EP Wells Equipment Services B.V. ...»
India's oil champions on track to match last year's $16 billion spend
India’s state-owned oil companies aim to sustain spending near a three-year high, encouraged by falling oil-services costs and expanding demand. ...»
Alberta regulator to review challenge to Kinder Morgan IPO
The Alberta Securities Commission is reviewing an environmental group’s request to halt a $1.28 billion share sale that Kinder Morgan Inc. plans to help finance the expansion of its Trans Mountain pipeline. ...»
LNG exporter Tullurian withdraws share sale due to 'adverse' market
Tellurian Inc., a would-be liquefied natural gas exporter, said it’s withdrawing its proposed public offering of 10 million shares due to “adverse market conditions.” ...»
Setpoint announces acquisition by Brüel and Kjær Vibro
Brüel and Kjær Vibro (BKV) has announced that it has completed the acquisition of the Setpoint technology platform from Metrix Instrument Company, L.P. of Houston, Texas. ...»
Oil rises as Algeria says most OPEC members support extending cuts
Crude rebounded after Algeria said a nine-month extension to OPEC’s production curbs would be backed by most participating countries. ...»
ACE Winches, Scantrol AS provide combined active heave compensation solution to Saipem
Leading global deck machinery specialist, ACE Winches has successfully delivered and engineered a back deck solution for Saipem. Working to a tight deadline of three and half weeks, ACE Winches worked in conjunction with Scantrol AS to supply a deck machinery solution which included an Active Heave Compensation winch and A-frame solution that will be used as an auxiliary deepwater deployment system for subsea equipment. ...»
Keppel to deliver semisubmersible to Caspian Drilling Co. in Azerbaijan
Keppel Offshore and Marine, through its subsidiary in Azerbaijan, Caspian Shipyard Company (CSC), is on track to deliver a semisubmersible drilling rig to Caspian Drilling Company Ltd., a subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR). ...»
Cairn Energy announces positive results of appraisal well offshore Senegal
Cairn has announced the results of another successful appraisal well offshore Senegal. Rig performance continues to be excellent and operations have been safely and successfully completed ahead of schedule and under budget following drilling, logging and drill stem testing (DST). ...»
Ophir Energy to commence fourth phase of development at Bualuang, Gulf of Thailand
Ophir Energy has announced that a Final Investment Decision has been taken to commence the fourth phase of development at Bualuang oil field in the Gulf of Thailand. ...»
OPEC deal may not be enough to lift world's worst equities
Not even an extended OPEC deal may suffice to end the woes of this year’s worst-performing equities in the world. ...»
Frac crew shortage may push oil's biggest bubble to 2018
Shale explorers pushing to expand oil production are struggling to find enough fracing crews after thousands of workers were dismissed during the crude rout. ...»
NXT Energy Solutions launches multi-client survey in the Gulf of Mexico
NXT Energy Solutions Inc. has advised that it has commenced work on the first ever SFD multi-client survey in the Gulf of Mexico. ...»
Oman to sell $2 billion of Islamic bonds
Oman plans to sell $2 billion of Islamic bonds this month as it seeks to trim a large budget deficit caused by lower oil revenue, Finance Minister Darwish Al Balushi said. ...»
Oil stuck in Trump slump as risk aversion damps U.S. supply drop
Oil is getting ensnared in the turmoil surrounding Donald Trump even as U.S. crude production declined for the first time in 13 weeks. ...»
Wednesday, 17 May 2017
Halliburton elects Jeff Miller as president and CEO
Halliburton Company (NYSE: HAL) today announced its board of directors has unanimously elected Jeff Miller, the Company’s president and a board member, to the position of president and CEO. Dave Lesar, who has led Halliburton as chairman and CEO since 2000, will continue serving the Company as executive chairman. ...»
Cenovus acquires assets from ConocoPhillips in western Canada
Cenovus Energy Inc. has closed its previously announced purchase of assets in western Canada from ConocoPhillips after receiving all necessary regulatory approvals for the transaction. ...»
Oil rises as U.S. supply decline signals OPEC's making progress
Crude markets are getting some encouragement from the U.S. as supplies fell for a sixth week -- a sign that OPEC-led production curbs are starting to be felt in the world’s biggest oil-consuming nation. ...»
Author publishes children’s books, extolling the benefits of oil and gas
Desideramus Publishing recently published two new children’s books, authored by B. B. Denson. These books try to provide an understandable educational resource to children, regarding the benefits of hydrocarbon energy. ...»
Africa Oil reports oil discovery at Emekuya-1 in Northern Kenya
Africa Oil Corp. has announced that the Emekuya-1 well in Block 13T, Northern Kenya has encountered approximately 75 m of net oil pay in two zones. ...»
Oil rises as U.S. supply decline signals OPEC's making progess
Crude markets are getting some encouragement from the U.S. as supplies fell for a sixth week -- a sign that OPEC-led production curbs are starting to be felt in the world’s biggest oil-consuming nation. ...»
FairfieldNodal, Schlumberger team up for 3D survey in Permian
FairfieldNodal and Schlumberger today announced a strategic multiclient joint venture in the southern Delaware basin of West Texas. ...»
Borets U.S. names new senior V.P. of business development and sales
Borets, a global leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has named William P. Faubel as senior vice president-business development and sales of Borets U.S., located in Houston. ...»
Darktrace partners with Siemens for cybersecurity in oil and gas industry
Darktrace, the leader in Enterprise and Industrial Immune System technology, and Siemens, a global engineering and technology leader, have today announced they have entered into a strategic partnership to bring cutting-edge cyber defense for operational technology (OT) to electric utilities and the oil and gas industry. ...»
Indian explorer bets $1 billion on natural gas, unconventional shale
Great Eastern Energy Corp. will drill 144 new wells over the next four to five years at its Raniganj block in the eastern state of West Bengal, according to CEO Prashant Modi. The company, which began looking at the block in 1993, will invest an additional 50 billion rupees in other unconventional assets, including shale. ...»
Bollinger's 4,000-ton drydock arrives in Algiers, La.
Bollinger Shipyards has announced the arrival of the drydock Mrs. Jody, with a total lifting capacity of 4,000 tons at Bollinger Algiers in Louisiana. ...»
FairfieldNodal, Schlumberger team up for 3D survey in Permian's southern Delaware basin
FairfieldNodal and Schlumberger today announced a strategic multiclient joint venture in the southern Delaware basin of West Texas. ...»
Borets U.S. names William P. Faubel senior V.P. of business development and sales
Borets, a global leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has named William P. Faubel as senior vice president-business development and sales of Borets U.S., located in Houston. ...»
Iraq set for highest monthly crude exports as OPEC meeting nears
Iraq is on track for what may be the country’s highest monthly crude exports even as the Middle East nation supports moves to extend OPEC-led production cuts. ...»
Oil-service IPOs blow past explorers as industry charts recovery
An improving oil and gas industry has turned the market for energy initial public offerings upside down. ...»
Wood Group awarded conceptual engineering contracts for Chevron's Tigris, Anchor
Wood Group has signed a 10-year master services agreement (MSA) with Chevron that allows them to deliver conceptual engineering, pre-front-end engineering design (pre-FEED), FEED, detailed design and procurement services in multiple locations across Chevron’s global onshore and offshore asset portfolio. ...»
Chisholm Energy Holdings announces acquisition in Permian basin
Chisholm Energy announced that it has closed on the acquisition of its first asset, located in the New Mexico region of the Delaware basin. ...»
OPEC risks deal fatigue as maintaining oil curbs gets tougher
OPEC impressed oil traders this year by making almost all the supply cuts it promised. Keeping output down will only get harder. ...»
Oil gains before release of U.S. supply data
Oil rose in New York before the release of U.S. government data on oil inventories as more producers backed the extension of supply cuts to balance the market. ...»
OPEC risks deal fatigue as maintaining oil curbs get tougher
OPEC impressed oil traders this year by making almost all the supply cuts it promised. Keeping output down will only get harder. ...»
Tuesday, 16 May 2017
Petrobras posts net income of $1.4 billion in first quarter 2017
Petrobras’ net income was R$4.4 billion in first quarter 2017, reversing the loss recorded in the same period of last year. This result reflects the company’s outstanding operating performance, despite lower demand for oil products in the Brazilian market. ...»
Lukoil signs cooperation agreement with Kalingrad's government
President of LUKOIL Vagit Alekperov and governor of Kaliningrad Region Anton Alikhanov signed an agreement on cooperation between the company and the regional government for 2017-2022, in Kaliningrad today. ...»
Shale play `left for dead' gets some love as U.S. gas rises
A natural gas basin that helped kickstart the shale boom a decade ago is getting a new lease on life as the market recovers. ...»
Oil rally stalls as market awaits signs U.S supply glut easing
Oil investors are taking a break as they await further signs that U.S. oil inventories are falling. ...»
Aramco said to plan at least 10 energy deals during Trump visit
Saudi Aramco plans to sign agreements with at least 10 companies including General Electric Co. and oil field-service businesses Schlumberger Ltd. and Halliburton Co. when President Donald Trump visits Saudi Arabia, according to two people familiar with the matter. ...»
API: Regulatory system should promote technological innovations, industry best practices
API has urged the EPA to adopt a regulatory system that enhances safety and protects the environment while prioritizing the production and refining of American natural gas and oil. ...»
2H Offshore launches JIP to drive intelligent efficiencies
2H Offshore, riser and conductor specialists in subsea services group Acteon, is pleased to announce the launch of the STREAM (STeel Riser Enhanced Analytics using Measurements) Joint Industry Project (JIP), which will see 2H Offshore work with operators to find efficiencies for the industry. ...»
Kalnin Ventures announces fourth Marcellus asset acquisition
Kalnin Ventures LLC today announced it has signed a Purchase and Sale Agreement (PSA) on its fourth acquisition of a non-operating portfolio in the northeast portion of the Marcellus shale, on behalf of its BKV Fund and investor Banpu Pcl. ...»
CNOOC commissions compressor trains for DONGFANG 13-2 gas fields in South China Sea
CNOOC China Limited Zhanjiang Branch has commissioned MAN Diesel and Turbo to supply a total of six compressor trains for the DONGFANG 13-2 Gas Fields Development Project in the South China Sea. ...»
BHP studying shale gas sale as hedge fund Elliott demands review
BHP Billiton Ltd. is considering further sales of its U.S. shale gas assets as it fends off the second round of attack from activist hedge fund Elliott Management Corp. over the future of the energy business within the world’s biggest mining company. ...»
Kuwait joins Saudi Arabia, Russia to seek oil cuts into 2018
Kuwait joined Saudi Arabia and Russia in supporting an extension of oil-output cuts by OPEC and other global producers through the first quarter of 2018 to help trim global stockpiles. ...»
Heerema Fabrication Group secures contract for Peregrino II jacket
Heerema Fabrication Group has been awarded the Procurement and Construction contract of the Peregrino II jacket by South Atlantic Holding B.V. on behalf of the Statoil Peregrino II project. ...»
Saudi Aramco said to make leadership changes ahead of IPO
Saudi Arabian Oil has promoted eight executives to top positions, including a senior vice president for downstream operations. ...»
Wood Group awarded Shell Brent decommissioning contract
Wood Group has been awarded a contract to support Shell in the decommissioning of their Brent Bravo platform in the North Sea. ...»
Chevron's $54 billion LNG plant in Australia hits new snag
Chevron’s Gorgon liquefied natural gas plant shut a production train for about a month, at least the eighth outage since operations started 14 months ago. ...»
OPEC prolonging cut would achieve mission to clear oil glut
The world’s two biggest oil exporters have figured out how to eliminate a global surplus that’s kept crude prices in check for three years. ...»
Monday, 15 May 2017
Tanker moratorium off British Columbia's North Coast not needed, says CAPP
The Canadian Association of Petroleum Producers (CAPP) has announced that the association is disappointed with the Government of Canada’s introduction of Bill C-48, the proposed Oil Tanker Moratorium, designed to establish a moratorium on tanker traffic carrying crude oil and other petroleum products along British Columbia’s North Coast. ...»
Exxon Mobil announces positive Muruk-1 sidetrack well results
Exxon Mobil Corporation has announced positive results on the Muruk-1 sidetrack well in the Papua New Guinea North Highlands, 13 mi (21 km) northwest of the Hides gas field. ...»
Maersk Drilling's idle rigs impact earnings, but uptime, performance remain high
Maersk Drilling reported a profit of $48 million in the company's interim report for first quarter 2017, down from $222 million last year, generating a ROIC of 3.0%, compared to 11.2% a year ago. ...»
Wood Mackenzie survey indicates upstream players grappling with uncertainty
The oil and gas industry is facing a challenging year. Oil prices remain volatile, and uncertainty remains about whether prices will recover from around $50/bbl. ...»
Resolute Energy closes Delaware basin Bronco acquisition
Resolute Energy Corporation has announced the closing of its previously announced Bronco acquisition of certain oil and gas properties located in Reeves County, Texas, for an aggregate purchase price of $160 million, adjusted for normal closing purchase price adjustments. ...»
Oil halts gain as more U.S. rigs counter OPEC-cut deal report
Oil halted gains near $48/bbl after U.S. rigs targeting crude rose a 17th week, countering a report that OPEC and other major producers reached an initial agreement to extend output cuts. ...»
Oil price indicators flash buy as OPEC expectations grow
Price curve? Check. Technical markers? Check. The oil market just got bullish and that’s left OPEC with little room for maneuver when it meets in Vienna next week. ...»
Eni starts production from Jangkrik Project, offshore Indonesia
Eni has started gas production from the Jangkrik Development Project, in deep water offshore Indonesia, ahead of schedule. The project comprises the gas fields Jangkrik and Jangkrik North East, located in the Muara Bakau block, Kutei basin, in the deep water of Makassar Strait. ...»
Gazprom Neft acquires licence to develop Novosarmaskoye field, Orenburg Oblast
Gazprom Neft has acquired a subsoil usage licence for Novosarmaskoye field in the Orenburg Oblast. The licence — for the exploration and production of hydrocarbons — was issued by the Federal Subsoil Resources Management Agency, and runs until May 5, 2037. ...»
Gas export boom loser may win from Australia supply crunch
Missing out on Australia’s natural gas export boom may be the best thing that happened to Arrow Energy Ltd. ...»
Institute of Petroleum Engineering receives major applied geoscience research funding
A major funding package for the Institute of Petroleum Engineering (IPE) at Heriot-Watt University will directly support research and training for the future of the industry in UK offshore waters. ...»
Santos announces positive results from Muruk-1 exploration well in Papua New Guinea
Santos has announced further positive results from the Muruk-1 exploration well, being drilled in the Papua New Guinea Highlands. ...»
Maersk Supply Service secures major contract for Culzean Project, UK
Maersk Supply Service has secured a major contract with Maersk Oil UK to project manage the complete towing, mooring installation and hook up service scopes for the Culzean Project in the North Sea. ...»
Wärtsilä acquires Greensmith Energy Managment Systems
The technology group Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc., a U.S.-based leader in intelligent energy storage technology and solutions, for an undisclosed amount. ...»
Atlantic Petroleum completes sale of 25% interest in Orlando development
Atlantic Petroleum has announced that further to announcement No. 4, issued March 14, 2017, it has completed the Sale and Purchase Agreement with Decipher Energy for its 25% interest in the Orlando development. ...»
Oil jumps as Saudis, Russia favor extending output deal to 2018
Oil jumped to its highest level in more than two weeks after the Saudi Arabian and Russian energy ministers said they are in favor of extending a production-cut deal for nine months. ...»
Bets on OPEC rally are gone and that may be good for crude
Hedge funds have undone all their wagers on an OPEC-driven oil rally, and that could be good for prices. ...»
Saudi Arabia, Russia favor extending oil cuts through March
Saudi Arabia and Russia said they favor prolonging oil-output cuts through the first quarter of 2018, setting a firmer timeframe for a likely extension of the curbs. ...»
Saudi Arabia, Russia favor extending oil cuts through next March
Saudi Arabia and Russia said they favor prolonging oil-output cuts through the first quarter of 2018, setting a firmer timeframe for a likely extension of the curbs. ...»
Sunday, 14 May 2017
China eyes U.S. energy next after $20-billion `Belt, Road' deals
China is setting it sights on U.S. energy as a growing reliance on imports forces it to look beyond traditional suppliers, according to the head of the country’s biggest oil and gas company. ...»
Libyan oil output creeps higher as OPEC nears decision on cuts
Libya is ratcheting up oil output with less than two weeks to go before the world’s biggest exporters decide whether to extend production cuts to clear a supply glut. ...»
Friday, 12 May 2017
Trump's China deal boosts U.S. LNG without rule change
America’s shale gas could soon head to China under long-term contracts for the first time, bolstered by a new trade deal that may not even change existing rules. ...»
Occidental shareholders override board in approving climate proposal
Occidental Petroleum Corp.’s shareholders approved a proposal Friday to require the oil and gas exploration company to report on the business impacts of climate change, marking the first time such a proposal has passed over the board’s objections. ...»
U.S. shale's favorite financial trick is getting less attractive
Oil bulls, take heart! U.S. drillers have dramatically reduced their hedging activity, a move that could portend a break in the production gains that have upended global crude prices. ...»
Trudeau seeks ban on Northern Pacific oil tankers
Days after a tight election made the Green Party a power-broker in Canada’s westernmost province, Justin Trudeau’s government is introducing a bill to ban crude oil tankers from using ports along the northern coast of British Columbia. ...»
Oil falls as focus shifts to all that output OPEC can't control
Oil fell as investors focus on all the production that OPEC can do nothing about. ...»
Parkmead doubles stake in key North Sea gas area
Parkmead, the UK and Netherlands focused independent oil and gas group, has announced that it has signed a Sale and Purchase Agreement with Verus Petroleum (SNS) Limited to acquire a 50% interest in UK North Sea Licence P.2209, which contains the Farne Extension prospect and a further four prospective leads. ...»
ENGIE enters negotiations for sale of its 70% interest in Exploration and Production International
ENGIE has announced that it has received a firm and binding offer from Neptune Energy to acquire its 70% interest in Exploration and Production International (EPI). ...»
Total expands exploration activity in Mauritania with new offshore license
Total and Mauritania have signed an exploration and production contract to perform exploration works on Block C7, which covers an area of 7,300 km2. ...»
TechnipFMC opens new facility in Odessa, Texas
TechnipFMC’s new Odessa facility will bring together its surface product and service lines in one consolidated complex so that the company can better support the Surface Americas’ integrated pad offering to clients. ...»
Wood Mac: U.S.-China agreement connects fastest-growing LNG supplier with largest LNG market
Last night’s announcement of the 100-day action plan between the U.S. and China has the potential to alter global LNG trade, opening the door of the world’s largest LNG growth market to the world’s fastest-growing LNG supplier. ...»
Repsol Norge drills dry well west of Aasta Hansteen field
Repsol Norge AS, operator of production licence 705, has completed the drilling of wildcat well 6705/7-1. ...»
Wintershall starts first pilot well in Argentina’s Bandurria Norte field
Wintershall has launched its second operated shale oil pilot project in Argentina (100% working interest). The company has spud the first of three horizontal pilot wells in the Bandurria Norte block, which is located in the western Argentinean province of Neuquén. ...»
India oil demand rises 3.3% in April, after three-month decline
India’s oil demand bounced back in April after falling for three consecutive months, recovering from the impact of the country’s move to withdraw high-value notes. ...»
Goldman bets Europe's oil stocks will shine as crude remains cloudy
European oil producers’ lower capital spending will help the region’s least-loved stocks to a standout performance this year, supported by the best quarterly cash generation in six years, according to Goldman Sachs Group Inc. ...»
Saudis said to boost U.S. ties with $40 billion investment
Saudi Arabia is preparing to cement ties with President Donald Trump by committing to unprecedented investments in the U.S. ...»
In fight against U.S. shale oil, OPEC risks lower for longer
In January, Khalid Al-Falih, the Saudi oil minister was exultant. The output cuts he’d arranged with fellow OPEC states and Russia were working so well, he said, they could probably be phased out by June. ...»
Thursday, 11 May 2017
Former OPEC member's Byzantine rules seen shooing away explorers
Red tape, rising costs and declining crude prices are throttling exploration in Indonesia, the former OPEC member that now produces less oil than it uses. ...»
Worst seems over for oil as supply drops, OPEC talks longer deal
Oil climbed for a second day, leaving the worst of last week’s rout behind for now, as U.S. stockpiles fell and two OPEC members said there’s a consensus to extend output cuts. ...»
Republican window to roll back Obama's rules closes at 14-1
Republicans efforts to rescind a myriad of Obama-era rules ended with 14 regulations eliminated from the books but one late failure. ...»
Scott Safety releases reusable single gas monitor, docking station
Scott Safety introduced the Protégé SG, a reusable single gas monitor, and the MasterDock II, an expandable docking station. ...»
Saudis said to boost U.S. ties with $40-billion investment
Saudi Arabia is preparing to cement ties with President Donald Trump by committing to unprecedented investments in the U.S. ...»
Peregrine Petroleum announces re-entry into Permian basin
Peregrine Petroleum Partners, Ltd., have announced that it has re-entered the Permian basin with the closing of a joint venture to develop a resource asset in the Southern Permian basin. ...»
WildHorse Resource Development Corp. acquires Eagle Ford properties for $625 million
WildHorse Resource Development Corporation today announced that it has entered into a definitive agreement to acquire approximately 111,000 net acres and associated production from Anadarko Petroleum Corporation and affiliates of Kohlberg Kravis Roberts and Co. L.P. for aggregate consideration of $625 million, subject to certain customary closing conditions. ...»
New York threatens to spoil Trump's push for fossil fuels
Forget the climate warriors of California. The state best positioned to spoil Donald Trump’s plan to unleash America’s fossil-fuel resources may be New York. ...»
Dana Gas first-quarter profit nearly doubles as production rises
Dana Gas PJSC profit nearly doubled in the first quarter as the United Arab Emirates-based natural gas producer boosted output. ...»
Taqa to boost investment, as shares soar on profit
Abu Dhabi National Energy Co. is considering boosting investments in existing oil and natural gas assets that may increase production from Canada to Iraq after posting its first quarterly profit since 2015. The shares climbed the most in five weeks. ...»
Foothills Exploration announces acquisiton of Uinta-Piceance basin assets
Foothills Exploration, Inc., an independent oil and gas exploration company engaged in the acquisition and development of oil and gas properties in the Rockies, today announced that it has entered into a purchase and sale agreement with an undisclosed seller. ...»
Proserv Norway secures significant decommissioning project awards
Energy services company Proserv has recently been awarded three contracts worth a combined value of more than $2.5 million for decommissioning work in the Norwegian North Sea. ...»
Buyers place bets as production cuts finally dent crude stockpiles
Oil is trading near $50 again, OPEC seems to be losing its ability to influence prices and a wave of new supply is hitting the market from Texas to Libya. For some, there’s never been a better time to buy. ...»
OPEC producers reach consensus to extend reductions
OPEC has reached a consensus to extend cuts until the end of the year, oil ministers for two of the group’s members said. ...»
OPEC raises 2017 estimate for supply growth from rivals by 64%
OPEC boosted estimates for growth in rival supplies by 64% as the U.S. oil industry’s recovery accelerates, threatening the group’s attempts to clear a surplus. ...»
OPEC producers have consensus to extend reductions
OPEC has reached a consensus to extend cuts until the end of the year, oil ministers for two of the group’s members said. ...»
Buyers place bets as production cuts dent crude stockpiles
Oil is trading near $50 again, OPEC seems to be losing its ability to influence prices and a wave of new supply is hitting the market from Texas to Libya. For some, there’s never been a better time to buy. ...»
OPEC producers have consensus to extend cutbacks
OPEC has reached a consensus to extend cuts until the end of the year, oil ministers for two of the group’s members said. ...»
Buyers back as production cuts dent crude stockpiles
Oil is trading near $50 again, OPEC seems to be losing its ability to influence prices and a wave of new supply is hitting the market from Texas to Libya. For some, there’s never been a better time to buy. ...»
OPEC producers have consensus to extend cuts
OPEC has reached a consensus to extend cuts until the end of the year, oil ministers for two of the group’s members said. ...»
Wednesday, 10 May 2017
Faroe Petroleum receives consent to drill Brasse appraisal well
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, has announced that all relevant consents have been received for the drilling of an appraisal well 31/7-2S on the Brasse discovery (Faroe 50%). ...»
TDI-Brooks International to perform site survey in the Caribbean
TDI-Brooks International, Inc. has been selected to perform three site surveys and an Environmental Baseline project in the Caribbean. ...»
Tiger Offshore expands Mediterranean, North Africa presence with CCU fleet acquisition
Tiger Offshore Rentals, a global provider of transportation and storage equipment to the offshore oil and gas industry, has acquired Comea Imprianti Industriali’s entire fleet of DNV-certified offshore cargo carrying units (CCUs) in Italy. ...»
IPAA president, CEO 'disappointed' in Senate vote on methane rule
Representing the independent producers that develop 90% of America’s oil and natural gas wells, Independent Petroleum Association of America (IPAA) President and CEO Barry Russell issued a statement on today’s Senate procedural vote. ...»
Oil climbs after U.S. crude inventories decline most this year
Oil surged by the most since December after U.S. crude supplies fell the most this year, a fifth weekly drop that eclipsed rising output. ...»
BSEE highlights Arctic collaborations on response technology possibilities
The Bureau of Safety and Environmental Enforcement provided the latest details on its efforts to improve oil spill response technologies at the Arctic Oil Spill Response Research and Technology Workshop April 26. ...»
Exxon Mobil awards EPCI contract to Saipem for Liza field in Guyana
Saipem has been awarded a new EPCI contract for the SURF package of the proposed Liza project operated by Esso Exploration and Production Guyana Limited, an affiliate of Exxon Mobil. ...»
Faroe Petroleum recieves consent to drill Brasse appraisal well
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, has announced that all relevant consents have been received for the drilling of an appraisal well 31/7-2S on the Brasse discovery (Faroe 50%). ...»
BP starts production at West Nile Delta, eight months ahead of schedule
BP today announced that it has started gas production from the first two fields, Taurus and Libra, of the West Nile Delta development in Egypt. ...»
Shale drillers seen outspending the world with $84-billion spree
U.S. shale explorers are boosting drilling budgets 10 times faster than the rest of the world to harvest fields that register fat profits even with the recent drop in oil prices. ...»
Top oil trader warns that OPEC efforts could be futile
OPEC and its allies are seeking to pump less for longer in a quest for higher prices. The world’s biggest independent oil trader says their efforts could be in vain. ...»
Top oil trader warns that OPEC's efforts could be futile
OPEC and its allies are seeking to pump less for longer in a quest for higher prices. The world’s biggest independent oil trader says their efforts could be in vain. ...»
One dud oil field doesn't set a trend as Kurds keep drilling
When one of the biggest crude producers in Iraqi Kurdistan downgraded reserves in March, doubts about the economic potential of the region -- a key player in the fight against Islamic State terrorism -- deepened. But evidence suggests it’s too soon to write off the emerging oil province. ...»
Serinus Energy signs EPCC contract for the Moftinu Gas Development Project in Romania
Serinus Energy Inc. has announced that it has signed an Engineering, Procurement, Construction and Commissioning Contract (EPCC) with Confind S.R.L., a Romanian company, for the construction of a gas processing facility and associated flowlines and pipelines for the Moftinu Gas Development Project in Romania. ...»
Fugro commences Mareano survey in Norwegian waters
Fugro has commenced a hydrographic survey encompassing an area of Norwegian waters of approximately 15,000 km2. Awarded by the Norwegian Hydrographic Service, the contract value is 34.5 million NOK (approximately €3.8 million). ...»
Shell says Russia crude must be considered for Brent benchmark
Shell wants to debate using Russian crude to help determine the global Brent benchmark, in what would be the most radical shift in how European prices are calculated since the 1970s. ...»
Wood Group awarded NCOC framework in Kazakhstan
Wood Group has secured a new framework agreement to provide study engineering for North Caspian Operating Company’s (NCOC) offshore and onshore asset portfolio in Kazakhstan. ...»
Oil rises as industry report shows U.S. supplies fell again
Oil rose after industry data showed U.S. crude stockpiles declined for a fifth week, trimming an inventory overhang. ...»
Trump takes aim at western U.S. monuments that may hold oil riches
Bears Ears National Monument in Utah boasts stretches of red-and-yellow sandstone so brilliant they appear to be ablaze and rock structures so precarious they appear to defy gravity. ...»
Tuesday, 9 May 2017
Exxon, Petrobras said to hold talks on strategic partnership
Exxon Mobil Corp. and Petrobras have held talks on a strategic partnership that could involve multiple assets in Brazil and overseas in different segments of the industry, similar to the $2.2-billion deal signed with Total SA in December, said people familiar with the conversations. ...»
U.S. oil ouput seen rising to record in 2018, as shale booms
U.S. crude production forecasts keep growing. ...»
Average U.S. rig count increased by 416 from April 2016, Baker Hughes says
Baker Hughes Incorporated has announced that the average U.S. rig count for April 2017 was 853, up 64 from the 789 counted in March 2017, and up 416 from the 437 counted in April 2016. ...»
New pipeline infrastructure to accommodate rise in Permian oil production: EIA
As crude oil production in the Permian basin of western Texas and eastern New Mexico has increased, pipeline infrastructure has also increased to deliver this crude oil to demand centers on the U.S. Gulf Coast. ...»
Petrobras enters its fourth expansion cycle, credits pre-salt
Petrobras is entering the fourth expansion cycle in its history as it ramps up its production in the pre-salt layer. This is a major milestone for the company, achieved by overcoming challenges, developing technologies and building up technical capacity. ...»
Cooperation between Libra consortium partners reduces project's break-even price
Intense collaboration between the Libra area’s partners to develop technologies needed to maximize value has cut the project’s breakeven price by approximately $13/bbl. ...»
Repsol Sinopec confirms first oil from Montrose Area redevelopment, North Sea
First oil has begun to flow from the Shaw field, part of the major redevelopment of the Montrose Area in the Central North Sea, operated by Repsol Sinopec Resources UK. ...»
Cooperation between Libra consortium partners reduces project's breakeven price
Intense collaboration between the Libra area’s partners to develop technologies needed to maximize value has cut the project’s breakeven price by approximately $13/bbl. ...»
Production from Argentina's Vaca Muerta to reach 113,000 boed by 2018, Wood Mackenzie says
Production from the seven most advanced developments in the Vaca Muerta play (covering only 8% of play acreage), is expected to increase by 43% in 2017 to 77,000 boed, and to double 2016 levels by 2018 to 113,000 boed, according to the new Vaca Muerta Development Study by Wood Mackenzie. ...»
Brazil enacts new bidding rules for production sharing regime
Brazil's Decree 9.041/2017 entered in force last week, regulating Law 12.351/2010 relating to Petrobras’ preferential rights to act as operator in consortiums for exploration and production in blocks subject to the production sharing regime. ...»
Tokyo Gas invests in development of unconventional Haynesville assets
Tokyo Gas America Ltd ., a wholly owned subsidiary of Tokyo Gas Co., Ltd., has acquired a 30% equity interest in Castleton Resources LLC (CR), a subsidiary of Castleton Commodities International LLC (CCI) formed to acquire and develop oil and gas assets in the East Texas/Louisiana region, with a specific focus on unconventional Haynesville assets. ...»
Asian investment could return to U.S. tight oil, Wood Mackenzie says
In a recent report Wood Mackenzie highlighted how the absence of major Asian companies from the U.S. tight oil boom could change. ...»
DNV GL adds asymmetric stern to hull optimization service
A vessel with an asymmetric stern has a twisted aft shape that is designed to account for the differing flow conditions on each side of the propeller. The idea emerged in the 1960s, but due to the difficulty of manually developing the optimal shape, this design failed to make a large impact at the time. DNV GL has revisited the idea. ...»
Royale Energy signs drilling contract for additional wells at Rio Vista field, California
Royale Energy, Inc., announced it has signed a drilling contract for three additional wells in Rio Vista field in Sacramento basin and expects to begin drilling operations by the end of the month. ...»
Israel's Delek seeks London listing as energy group goes global
Delek Group Ltd., the Israeli energy company that bought UK oil explorer Ithaca Energy Inc. this year, is seeking a London listing to help further overseas expansion. ...»
Patterson-UTI reports average U.S. count of 115 drilling rigs operating for April 2017
Patterson-UTI Energy recently reported drilling activity for the month of April 2017, and the company had an average of 115 drilling rigs operating in the United States and two rigs in Canada. ...»
Rubicon Oilfield acquires Choice Completions Systems
Rubicon Oilfield International has acquired Choice Completions Systems, a technology company specializing in downhole products for unconventional multi-stage completions. ...»
Oil prices steady as U.S. stockpiles drop again
Oil was steady before government data forecast to show U.S. crude stockpiles fell for a fifth week, further reducing an inventory surplus. ...»
Weatherford releases new production optimization platform
Weatherford released its ForeSite production optimization platform at the Weatherford Enterprise Software Conference. The ForeSite platform combines physics-based models with advanced data analytics to improve performance across wells, reservoirs and surface facilities. ...»
Weatherford introduces production optimization platform
Weatherford released its ForeSite production optimization platform at the Weatherford Enterprise Software Conference. The ForeSite platform combines physics-based models with advanced data analytics to improve performance across wells, reservoirs and surface facilities. ...»
Trump names picks for U.S. energy agency, FERC
President Trump selected a longtime aide to Senate Majority Leader Mitch McConnell and a state utility regulator to serve on the Federal Energy Regulatory Commission. ...»
Trump names picks for U.S. energy agency
President Trump selected a longtime aide to Senate Majority Leader Mitch McConnell and a state utility regulator to serve on the Federal Energy Regulatory Commission. ...»
Monday, 8 May 2017
Weir Oil and Gas launches intelligent systems for pressure control
Weir Oil and Gas, a leading upstream provider of pressure pumping and pressure control equipment and services, announced it has developed real-time measurements and automated controls to enhance safety, reduce non-productive time, and to enable operators to make more informed, faster decisions. ...»
OPEC's burden grows, as Libyan output reaches highest mark since 2014
Libya is pumping the most oil since October 2014 as the OPEC member restores output amid progress in mending the nation’s political divisions. The increase adds pressure on the world’s biggest producers who just signaled they may extend production cuts as oil slumps. ...»
OPEC's burden grows as Libyan output reaches highest since 2014
Libya is pumping the most oil since October 2014 as the OPEC member restores output amid progress in mending the nation’s political divisions. The increase adds pressure on the world’s biggest producers who just signaled they may extend production cuts as oil slumps. ...»
Venezuela braces for possible U.S. oil sanctions
Venezuela would be hit from two directions if the U.S. were ever to impose oil-related sanctions against the South American nation where at least 30 have died in anti-government protests in the past month. American drivers may pay more at the pump as well. ...»
Construction begins for offshore section of TurkStream gas pipeline
Construction of the TurkStream gas pipeline has commenced in the Black Sea, near the Russian coast. ...»
Enpro supports operator, achieves record time for first oil
Enpro Subsea has revealed details of how its unique subsea architecture was used for the first time by an operator in the Gulf of Mexico and was a contributing factor to the organization achieving first oil production in under 12 months – a record time for the client. ...»
DNO re-enters NCS with acquisition of Origo Exploration
DNO ASA, the Norwegian oil and gas operator, today announced the acquisition of Origo Exploration Holding AS, a privately-held oil and gas exploration company with a focus offshore Norway and the United Kingdom. ...»
United Oil and Gas announces Northern Italy farm in
United Oil and Gas has confirmed that it has reached conditional agreement with Po Valley Energy to acquire a 20% stake in the Podere Gallina licence in the Po Valley region of Northern Italy. ...»
InterMoor UK expands decommissioning services
InterMoor Ltd, a leading provider of mooring services, foundation solutions, and offshore installations in subsea services group Acteon, has added rigless well abandonment capabilities to its UK-based services. ...»
Petro River discovers oil field in Osage County, Oklahoma
Petro River Oil Corp., an independent oil and gas exploration company, has announced a new oil field discovery in its’ 106,500-acre concession in Osage County, Okla., upon successfully drilling the Chat 2-11 exploration well. ...»
Lundin Petroleum completes Gohta appraisal well in southern Barents Sea
Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has completed the Gohta appraisal well 7120/1-5, located in PL492 in the southern Barents Sea. ...»
Hedge funds bail just before OPEC-driven oil rally vanishes
Hedge funds jumped out of the oil market just in time. ...»
Tight British Columbia election puts energy projects at risk
British Columbia Premier Christy Clark’s push to expand oil pipelines and develop a liquefied natural gas industry on Canada’s Pacific Coast is at risk as she faces a tight election battle Tuesday with a rival who vows to turn back the clock on energy projects. ...»
Russia-U.S. gas rivalry set to dominate as EU traders gather
The near-flawless start of U.S. LNG plants will have European energy traders abuzz this week at Flame conference. ...»
Saudi Arabia and Russia signal oil-cuts extension into 2018
Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling down on an effort to eliminate a supply surplus just as its impact on prices wanes. ...»
BP announces major gas find offshore Senegal
BP, along with JV partner Kosmos Energy, announced a major gas discovery offshore Senegal. ...»
Sunday, 7 May 2017
Iran buys gear to shield gas output from any new U.S. sanctions
Iran is buying equipment to avert a possible disruption in output at its share of the world’s biggest natural gas field, in the event the U.S. decides to impose additional sanctions on its economy, the head of state-run operator Pars Oil and Gas Co. said. ...»
Friday, 5 May 2017
Siemens to develop digital solutions for Aker BP as part of long-term partnership
Siemens will deliver advanced digital solutions for Aker BP’s future field development projects as part of a long-term partnership between the two companies focused on the design, supply and installation of electrical, instrumentation, control and telecom systems—from the preliminary phase to first oil. ...»
2017 Offshore Technology Conference concludes, more than 64,700 attend
Offshore energy industry experts and leaders from across the world came together at NRG Park in Houston 1–4 May for the 2017 Offshore Technology Conference (OTC). ...»
Former Weir exec launches ST9 Gas + Oil, a new oilfield services company
Chris Buckley, renowned engineer and former vice president at Weir Oil and Gas, has launched Houston-based ST9 Gas + Oil. ...»
Geophysical Insights launches Attribute Generator with expanded library of advanced seismic attributes
Geophysical Insights announced the launch of the new Attribute Generator in the latest release of Paradise version 3.1. ...»
Azinor Catalyst awards drilling contract for two wells on the UKCS
Azinor Catalyst Limited (Catalyst), the Seacrest Capital Group-backed EandP company focused on the United Kingdom Continental Shelf (UKCS), has announced that it has awarded a rig contract to Diamond Offshore Drilling (UK) Limited for the Ocean Guardian semisubmersible rig to drill two operated wells during third-quarter 2017. ...»
Edison Chouest Offshore signs five-year contract with Shell Brazil
Two affiliates of Cut Off, LA-based Edison Chouest Offshore (ECO), have signed a five-year contract with Shell Brazil for light subsea construction and inspection, maintenance and repair (IMR) services from the M/V Island Enforcer, a 402-ft. subsea installation and construction vessel. ...»
Oil hovers near $46 as shale revival cancels out OPEC efforts
Oil hovered around $46/bbl in New York, back to levels last seen before the OPEC deal, as the shale revival appears to be making the group’s cuts ineffective. ...»
Oil majors going strong in a $50/bbl market
From Exxon Mobil Corp. to Total SA, the world’s largest listed oil companies have sent a message to skeptical investors and rivals at OPEC: we can get by in a world of $50/bbl crude. ...»
Gazprom Neft reports 5 millionth tonne of oil produced at Novoportovskoye field
Total cumulative oil production at the Novoportovskoye field has now reached 5 million tonnes, the landmark tonne of crude being shipped by Gazprom Neft subsidiary Gazpromneft-Yamal on the Shturman Albanov tanker. ...»
Trump delay stalls $50 billion of energy investment projects
By the time Midwesterners fire up their furnaces this fall, the $2-billion Nexus pipeline is supposed to be pumping natural gas to heat homes from frosty Ohio to frostier Ontario. But six months out, the 255-mi (410-km) pipeline exists only on paper. ...»
Oil is a buy for Citigroup as Goldman says market getting tight
Oil’s slump to a five-month low is driven purely by technical trading and supply is still getting tighter, according to Citigroup Inc. and Goldman Sachs Group Inc. ...»
Good day for oil producers ruined by a bad day for oil
Shale drillers on Thursday paid the price for pouring more and more oil onto global markets. ...»
Origin Energy increases interest in prospective Beetaloo JV to 70%
Origin Energy Limited has announced it had increased to 70% its share in the Beetaloo JV, after acquiring Sasol Petroleum Australia Limited’s 35% share. ...»
Titan Energy sells Appalachia, Marcellus assets for $84.2 million
Titan Energy has entered into a definitive agreement to sell its conventional Appalachia and Marcellus assets to Diversified Gas and Oil for $84.2 million. ...»
Rosneft profit misses estimates as ruble counters oil price
Rosneft said first-quarter profit climbed 8.3% as higher crude prices were offset by a stronger ruble and output cuts. ...»
OPEC runs out of options as bid to boost oil price fizzles
OPEC’s plan to boost oil prices by cutting production has fizzled, yet it has little choice but to stick with it. ...»
Thursday, 4 May 2017
Centrica investing £60m to boost Morecambe Bay production
The project to refurbish two 5,000-tonne platforms in the East Irish Sea, which is expected to start later this month, will boost output from the fields, which already produce enough gas to heat 1.5 million UK homes. ...»
Crude tumbles to lowest since OPEC deal as cuts seen ineffective
Oil dropped to the lowest since late November on growing signs that OPEC’s production cuts are failing to clear a surplus of crude. ...»
Weir's new, simplified system reduces non-productive time
Weir Oil and Gas has announced that it has taken an important step in transforming the hydraulic fracturing process. Weir’s latest innovation – the Simplified Frac Iron System – will make the frac process significantly simpler, safer and more productive. ...»
Trelleborg and ExPert Riser Solutions partner to expand GOM buoyancy repair services
ExPert Riser Solutions, located at the gateway to the Gulf of Mexico in Port Fourchon, La., is now an Authorized Repair Center for Trelleborg’s offshore operation, expanding and improving its Drill Riser Buoyancy Module (DRBM) repair offering. ...»
AMETEK Solidstate Controls launches new cabinet design for offshore oil rigs
AMETEK Solidstate Controls, Inc. (SCI), a leading manufacturer of highly customized uninterruptible power supply (UPS) systems, has announced the first release of its SlimLine product line enhancement, designed to meet the highly specialized need for smaller UPS units for offshore oil and gas rigs. ...»
Faroe Petroleum Norge granted drilling permit for well 31/7-2 S
The Norwegian Petroleum Directorate has granted Faroe Petroleum Norge AS a drilling permit for well 31/7-2 S, cf. Section 8 of the Resource Management Regulations. ...»
M² Subsea and Frontera Offshore join forces in Gulf of Mexico
M² Subsea has joined forces with Frontera Offshore to deliver remedial pipeline work for Permaducto, a subsidiary of Grupo Protexa, in the Ku-Maloob-Zaap (KMZ) oilfield in the Bay of Campeche, 65 mi north east of Cuidad del Carmen, Mexico. This contract also marks the first award for M² Subsea in the Gulf of Mexico region. ...»
Brent crude falls below $50 in London for first time since March
Oil dropped below $50/bbl in London for the first time since late March on growing signs that OPEC’s production cuts are failing to clear a surplus of crude. ...»
Vallourec launches new drill pipe connection for challenging environments
Vallourec has unveiled VAM X-Force, an innovative connection designed to drill in the most challenging environments. The new connection pushes the limits of the existing technologies to reach deeper, more remote hydrocarbon reservoirs. ...»
Statoil shares surge after quarterly profit jumps
Statoil rose the most in five months after first-quarter profit climbed on higher output, cost cuts and recovering crude prices. ...»
Shell pumps torrent of cash as BG takeover, cost cuts pay off
Shell has adapted to a world of lower oil prices, generating a surge in cash that allowed it to pay dividends while reducing debt. ...»
Wednesday, 3 May 2017
API: Study shows U.S. oil and gas infrastructure could support more than 1 million jobs
API released a new study that shows private investment in U.S. natural gas and oil infrastructure could create over 1 million U.S. jobs. ...»
Weatherford debuts V0-rated completion system at OTC 2017
Weatherford International plc announced the commercial release of the WFX0 gravel-pack system at the 2017 Offshore Technology Conference. ...»
Noble Energy sells Marcellus assets for over $1.2 billion, pays down acquistion debt
Noble Energy, Inc., has announced that it has signed a definitive agreement to divest all of its upstream assets in northern West Virginia and southern Pennsylvania to an undisclosed buyer for a total amount of $1.225 billion. ...»
Baker Hughes introduces long-life PDC bit
Baker Hughes Incorporated has announced the commercial release of its Dynamus extended-life polycrystalline diamond compact (PDC) drill bit, which can significantly reduce drilling costs by eliminating trips to replace bits or bottomhole assembly (BHA) tools that wear out in high horsepower drilling operations. ...»
Maria development on schedule, Wintershall says
Norwegian minister of petroleum and energy, Terje Søviknes, and Wintershall’s CEO, Mario Mehren, visited the Deepsea Stavanger rig in the Norwegian Sea ahead of reservoir drilling on Wintershall-operated Maria field. ...»
Gazprom Neft acquires licenses to develop two fields in the Yamalo-Nenets Autonomous Okrug
Gazprom Neft has acquired development rights to two new assets — Tazovskoye and Severo-Samburgskoye fields — in the Yamalo-Nenets Autonomous Okrug. Subsoil usage rights to the Tazovskoye block run to 2025, and rights to the Severo-Samburgskoye block to 2027. ...»
JDR and Magma Global ink strategic MOU at OTC 2017
JDR, the leading supplier of subsea power cables and umbilicals to the global offshore energy industry, has signed a memorandum of understanding (MOU) with Magma Global, the manufacturer of high performance carbon fibre and Victrex PEEK thermoplastic composite pipe, m-pipe. ...»
Saudis to control crude reserves, output after Aramco IPO
Saudi Arabia’s giant oil and gas reserves and any decisions about producing from them will remain solely in government hands after Saudi Aramco’s initial public offering, Deputy Crown Prince Mohammed bin Salman said on state television. ...»
Oil rises from six-week low as U.S. glut eases, Russia backs cuts
Crude rebounded from a six-week low on signs the U.S. supply glut is easing and as Russia signaled support for extending output cuts with OPEC. ...»
An unlikely Arctic oil boom has a lesson in progress for Trump
With the oil industry barely recovering from its most brutal slump in decades, you might expect the Arctic Ocean to be the last place explorers would hunt for new discoveries. ...»
Schlumberger launches new fluid mapping-while-drilling service
Schlumberger has launched the new SpectraSphere fluid mapping-while-drilling service at OTC 2017. ...»
Tuesday, 2 May 2017
Total brings Badamyar gas project on stream in Myanmar
Total has started up production from the Badamyar project, located offshore 220 km south of Yangon in the Republic of the Union of Myanmar. The project will enable an extension of the Yadana gas field’s 8 billion cu m per year production plateau beyond 2020. ...»
Xvision software launches cloud-based technology for offshore field development
Xvision Software has launched FieldAP, a cloud-based technology for the energy industry providing offshore project managers with an online tool for visual field development, digital planning and cost containment. ...»
Linn Energy announces $581.5 million sale of western Wyoming assets
Linn Energy, Inc. announced today that it has signed a definitive agreement to sell its interest in properties located in western Wyoming to Jonah Energy LLC for a contract price of $581.5 million, subject to closing adjustments. ...»
Total signs agreements to explore Senegal's deepwater potential
Total and the Republic of Senegal have signed two agreements enabling Total to contribute to the exploration activities in Senegal’s deep and ultra-deep offshore. ...»
Total signs agreements to explore the Senegal's deepwater potential
Total and the Republic of Senegal have signed two agreements enabling Total to contribute to the exploration activities in Senegal’s deep and ultra-deep offshore. ...»
Oil falls as expected U.S. fuel-supply gain counters crude drop
Oil fell, approaching the lowest in more than a month as fuel-stockpile gains are seen offsetting an expected increase in U.S. crude supply. ...»
BP expands digital rocks technology
BP’s proprietary digital rocks technology program is getting a key upgrade from a new multi-year commercial agreement with Exa Corporation, which will enhance BP’s ability to predict the flow of oil and water in digital images of reservoir rock. ...»
Pipeline companies push back on Trump's `Buy American' rule
A directive requiring U.S. pipeline companies to use American steel and iron in their projects is testing President Donald Trump’s ability to keep his promises to two industries on opposing sides of the issue. ...»
Minister sees `glaring' problems in South African oil stock sale
South Africa has found “glaring governance problems” related to a 2015 sale of the country’s crude oil reserves, Energy Minister Mmamoloko Kubayi told lawmakers. ...»
BP debt rises again as Gulf oil spill payouts soak up profit
BP Plc’s net debt rose again in the first quarter, reaching the highest level in at least a decade as payments linked to the Gulf of Mexico oil spill countered an almost threefold jump in profit. ...»
UAE minister sees `logic' in oil-cuts extension beyond June
OPEC and allied oil producers should extend their collective production cuts into the second half of the year when an expected upturn in demand will help to re-balance the crude market, United Arab Emirates Energy Minister Suhail Al Mazrouei said. ...»
North America's busiest oil dealmaker turns focus to production
After five years of snapping up more oil assets than any of its peers in North America, Crescent Point Energy Corp. is turning its focus to getting more out of them. ...»
Elliott said to meet BHP shareholders as fund urges overhaul
Elliott Management Corp. is meeting with BHP Billiton Ltd. shareholders in Australia as the activist investor urges BHP to overhaul its businesses, a person familiar with the matter said. ...»
Trump's U.S. looks past energy independence, to global dominance
The U.S. is in the position to be energy-dominant, not just independent, thanks to fracing and plans to loosen drilling regulations, Interior Secretary Ryan Zinke said Monday. ...»
Probe extends downhole conveyance tool range
Probe Holdings, Inc., a technology firm that designs, manufactures and sells well logging and reservoir monitoring tools and systems for the oil and gas industry, announced that it is expanding its range of I-Wheel downhole conveyance optimization tools. ...»
Probe extends range for downhole conveyance tools
Probe Holdings, Inc., a technology firm that designs, manufactures and sells well logging and reservoir monitoring tools and systems for the oil and gas industry, announced that it is expanding its range of I-Wheel downhole conveyance optimization tools. ...»
Emerson launches new salinity system for increased flow assurance, to maximize oil and gas production
Emerson Automation Solutions launched the Roxar Salinity Measurement System for the sensitive, accurate and real-time measurement of saline water in gas production well streams at the Offshore Technology Conference (OTC) in Houston this week. ...»
Norway announces licensing round for mature areas on NCS
The Norwegian Ministry of Petroleum and Energy has announced this year’s licensing round for mature areas on the Norwegian continental shelf – Awards in Predefined Areas (APA) 2017. ...»
Lundin Petroleum releases 2016 sustainability report
Lundin Petroleum AB has announced the release of its Sustainability Report 2016. ...»
Mexico stays the course on the opening of its hydrocarbon sector
Mexico’s historic opening of its oil and gas sector to private investment, which began three years ago, continues on pace, and only a few phased moves remain to be completed, said a top governmental official. ...»
Monday, 1 May 2017
At OTC 2017, Secretary Zinke signs orders implementing new offshore energy strategy
On the stage of the Offshore Technology Conference, flanked by men and women who work on offshore oil and gas platforms, Secretary of the Department of the Interior Ryan Zinke today signed two secretarial orders aimed at unleashing America’s offshore energy potential and growing the U.S. economy. ...»
Expro showcases a range of new technology solutions at OTC 2017
Expro is showcasing a range of new capabilities and technology at OTC Houston 2017. ...»
Baker Hughes introduces multi-stage fracturing service for deep water
Baker Hughes Incorporated has introduced its DEEPFRAC deepwater multi-stage fracturing service, which can save operators hundreds of millions of dollars in offshore developments through unprecedented efficiency gains across the completion phase. ...»
Weatherford, US Synthetic launch new deepwater drilling reamer at OTC 2017
Today at the 2017 Offshore Technology Conference, Weatherford International plc announced the commercial release of a premium version of the RipTideRFID drilling reamer that incorporates advanced cutter technology. ...»
OPEC may need to extend production cuts to end of next year
OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018, a veteran market analyst said. ...»
Oil falls as U.S. drillers boost rigs, Libya expands output
Oil declined as rigs targeting crude in the U.S. rose for a 15th week and production in Libya rebounded. ...»
Oil price optimism wears off as Texas wildcatters drill on
The relentless drilling ramp-up in America’s top shale plays is making investors more skeptical that an oil price rebound is on the horizon. ...»
Aramco cuts Asia oil pricing as Saudis seen losing market share
Saudi Arabia, the world’s largest crude exporter, cut pricing for June oil exports to Asia as it fights to defend sales in its biggest regional market. The kingdom raised pricing to all other regions. ...»
Libya oil output rebounds as Sharara, Feel fields restarted
Libya’s crude production rebounded to more than 700,000 bpd as the OPEC member’s biggest oil field and another deposit in its western region resumed pumping after a halt. ...»
UAE's Adnoc will cut oil sales to buyers by 10% in June
The United Arab Emirates is cutting back supplies to customers in June as part of its agreement with OPEC to curb production. ...»
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