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Saturday, 7 November 2015
Heavy oil still flows, despite Obama's Keystone XL rejection: Wood Mackenzie
Ironically, the rejection of Keystone XL could lead to higher CO2 emissions via more crude-by-rail, according to energy consultant Wood Mackenzie. More »
Heavy oil still flow, despite Obama's Keystone rejection: Wood Mackenzie
Ironically, the rejection of Keystone XL could lead to higher CO2 emissions via more crude-by-rail, according to energy consultant Wood Mackenzie. More »
Thursday, 5 November 2015
Halliburton presses on with bond deal amid regulatory doubts over Baker Hughes deal
Halliburton Co. is plowing ahead with plans to sell $7.5 billion in bonds to finance its $34.6 billion takeover of Baker Hughes Inc., shrugging off concerns that the deal faces regulatory hurdles. More »
U.S. oil, gas exports key to more stable global energy markets: ACCF
The free trade of America's abundant energy resources would provide an invaluable opportunity for the U.S. to help strengthen and stabilize global energy markets, especially if China is engaged as a partner, according to a new policy brief released by the American Council for Capital Formation (ACCF). More »
Halliburton presses on with bond deal amid regulatory doubts over Baker Hughes deal
Halliburton Co. is plowing ahead with plans to sell $7.5 billion in bonds to finance its $34.6 billion takeover of Baker Hughes Inc., shrugging off concerns that the deal faces regulatory hurdles. More »
European Oil's $8 billion plan to pay investors and retain cash
In a record downturn for the oil industry, cash is everything to companies and dividends are everything to their investors. More »
TransCanada removes Quebec port from Energy East pipeline scope
TransCanada Corp. is removing a port in Quebec from the planned route of its Energy East oil pipeline, the company said in a statement. More »
Ashtead Technology secures underwater glider agreement
Ashtead Technology has secured a global asset management agreement with Blue Ocean Monitoring to store, maintain and supply underwater gliders for ocean data monitoring. More »
North Sea drilling method is industry first for Centrica
Centrica Energy Norway has just finished drilling a pilot hole for shallow gas on the Butch field in the North Sea. Instead of using a rig for the job, a well intervention vessel was chartered and coiled tubing drilling (CTD) was used. More »
LNG golden promise fading for Goldman on wave of oversupply
Liquefied natural gas is cheap, and according to Goldman Sachs Group Inc. it’s only going to get cheaper. More »
Kongsberg Maritime names new business manager for Offshore Production division
Kongsberg Maritime has appointed a new business manager for the Offshore Production division of its base in Aberdeen. More »
BP to accelerate development of Egypt's Atoll field
BP has signed a Heads of Agreement with the Egyptian Minister of Petroleum regarding the acceleration of the development of the recent Atoll gas discovery. More »
Low oil prices taking toll on exports from Western Canada: EDC
Alberta and Saskatchewan will have lower exports this year due to depressed oil prices but will rebound in 2016 through a partial price recovery and volume gains, according to a new global export forecast released by Export Development Canada. More »
Range Resources sells Nora assets in Virginia for $876 million
Range Resources has signed a definitive sales agreement to sell its Nora assets for a purchase price of $876 million. The properties encompass approximately 3,500 operated wells and approximately 460,000 net acres in the Nora/Haysi combined fields located primarily in southwestern Virginia. More »
Eni in new gas, condensate discovery offshore Congo
Eni has reported a new discovery of gas and condensates offshore Congo, in the Nkala Marine exploration prospect, in Block Marine XII, about 20 km from the coast and 3 km from the producing Nene Marine field. More »
Ichthys LNG project completes offshore pipelay
The INPEX-operated Ichthys LNG project has completed the offshore pipelay for its 890-km, 42-in. diameter gas-export pipeline, the Tokyo-based company announced Thursday. More »
CGG may sell assets after $1.07-billion loss in third quarter
CGG SA, the French oil field surveyor which last year rejected a takeover approach from Europe’s largest oil engineer Technip SA, plans to sell shares and assets after reporting a $1.07-billion loss in the third quarter. More »
Seatronics partners with LateraL to enhance ROV tooling capabilities
Seatronics, an Acteon company, has formed a new partnership with LateraL, a Norwegian subsea tooling firm specialised in improving offshore performance through its innovative product range. More »
More companies commit to increasing efficiency at Oil and Gas UK’s Share Fair
Oil and Gas UK, at its annual Share Fair in Aberdeen, has announced that more companies than ever are demonstrating their commitment to improving the efficiency of their business practices by achieving awards in the Supply Chain Code of Practice tiered compliance scheme. More »
Wednesday, 4 November 2015
Petroleum Development Oman, Glasspoint break ground on landmark solar plant, Miraah
Petroleum Development Oman (PDO) and GlassPoint Solar have broken ground on their landmark solar project ‘Miraah’. More »
TransCanada fails to convince U.S. to pause Keystone XL review
TransCanada Corp. failed in its attempt to pause the U.S. review of its Keystone XL pipeline, keeping the project where it started the week—unlikely to advance under the Obama administration. More »
Baker Hughes introduces FATHOM XT SUBSEA525 asphaltene inhibitor
Baker Hughes announced today the commercial release of its high-performance, low-dosage FATHOM XT SUBSEA525 inhibitor that helps control asphaltene deposition in deepwater wells, providing better flow assurance and reducing remediation costs by minimizing the risk of blockages in production lines and equipment. More »
Mexico casts wider net for oil buyers as U.S. interest wanes
Mexico isn’t breaking up with U.S. oil refiners, but it sure seems like it wants to see other people. More »
Baker Hughes introduces high-performance asphaltene inhibitor
Baker Hughes announced today the commercial release of its high-performance, low-dosage FATHOM XT SUBSEA525 inhibitor that helps control asphaltene deposition in deepwater wells, providing better flow assurance and reducing remediation costs by minimizing the risk of blockages in production lines and equipment. More »
Canadian drilling looks to have bottomed out as PSAC predicts slight drop in 2016
The Petroleum Services Association of Canada (PSAC) has released its 2016 Canadian Drilling Activity Forecast. More »
Tendeka wins contract to supply Autonomous ICD technology in Malaysia
Tendeka has signed a two-year agreement with SapuraKencana Energy Peninsula Malaysia Inc. (SKE) for the exclusive application of Tendeka’s FloSure Autonomous Inflow Control Device (AICD) valves. More »
Norway rig tender reveals 'desperate' drillers in price rout
An unusually high number of rigs are competing for a Det Norske Oljeselskap ASA drilling contract on the Alvheim oil field in the North Sea, an illustration of how companies are desperate for business as producers slash spending amid a crude-price slump. More »
Apache celebrates 40 years of production at North Sea’s Forties field
Apache Corp. announced a significant milestone at its Forties field in celebration of 40 years since oil was first produced from Forties Alpha and transported, via the Forties Pipeline System, to the onshore terminal at Cruden Bay, UK. More »
Statoil awards Johan Sverdrup accommodation rig contract to Jacktel
Statoil has awarded a contract to Jacktel AS, a wholly owned subsidiary of Master Marine AS, for the provision of accommodation services on Johan Sverdrup field. More »
Eni awarded exploration block offshore Mozambique
Eni, together with Statoil, Sasol and ENH, has been awarded the exploration and development rights for Block A5-A, following the 5th Competitive Mozambique Bid Round. More »
DNV GL issues new recommended practice on offshore fiber ropes
The results of two DNV GL led joint industry projects (JIPs) and a JIP pre-study commissioned by Statoil are now captured in a new recommended practice (RP) on offshore fiber ropes. More »
Canadian drilling looks to have bottomed out as PSAC predicts only slight drop in 2016
The Petroleum Services Association of Canada (PSAC) has released its 2016 Canadian Drilling Activity Forecast. More »
Petrofac, Faroe and Eni Hewett collaborate to cut North Sea costs
Petrofac, Faroe Petroleum and Eni Hewett have established an innovative cost saving partnership to drive efficiencies and commercial synergies across their UK operations in the Southern North Sea. More »
Increasing efficiency is key to success in Middle East, says Amec Foster Wheeler
Increasing operational efficiency is vital in order to remain competitive, Amec Foster Wheeler said ahead of ADIPEC, which will take place in Abu Dhabi next week. More »
Det Norske deepens cost cuts as loss widens on oil price collapse
Det Norske Oljeselskap ASA, the oil company controlled by Norwegian billionaire Kjell Inge Roekke, deepened cost cuts and raised output forecasts as quarterly losses widened after the collapse in crude prices. More »
Oil falls below $48/bbl before U.S. crude stockpile data
Oil traded below $48/bbl before U.S. government data forecast to show crude stockpiles increased in the world’s biggest consumer. More »
PSAC releases its 2016 Canadian Drilling Activity Forecast
The Petroleum Services Association of Canada (PSAC) has released its 2016 Canadian Drilling Activity Forecast. More »
Claxton completes 30 years in offshore and subsea engineering
Claxton Engineering Services, an Acteon company, has completed its 30th anniversary of successful operations in offshore and subsea engineering. More »
U.S. to continue Keystone review despite request for pause
The U.S. State Department will continue reviewing the Keystone XL pipeline project even as it considers a request from builder TransCanada Corp. to pause its evaluation of the controversial project. More »
Petrobras oil output cut as workers protest against austerity
Brazil’s daily oil production has fallen by about 500,000 bbl as oil workers strike to protest austerity measures by state-controlled Petroleo Brasileiro SA that are resulting in job losses, the country’s main oil union said Tuesday. More »
Tuesday, 3 November 2015
Global Tubing opens Permian basin service center
Global Tubing has opened a service center in Midland, Texas. More »
Egypt’s 30 Tcf Zohr discovery offers new potential for Eastern Med: IHS
The deepwater Zohr gas discovery in Egypt is of major significance to the Eastern Mediterranean region. More »
Fairway awards Wood Group contract for Houston crude storage facility
Wood Group has been awarded a contract by Fairway Energy Partners, LLC (Fairway) to provide engineering, design and procurement services for the Pierce Junction Crude Oil Storage facility to be built in the Pierce Junction salt dome in south Houston. More »
Wood Mac identifies key themes for the Majors in 2016
Wood Mackenzie's corporate upstream research team has assessed the third quarter (Q3) results from the Major oil and gas companies, identifying four key themes to look out for in 2016. More »
iSURVEY secures positioning framework contract with Total EandP UK
iSURVEY has secured a framework contract with Total EandP UK Limited for the provision of rig move navigation and positioning services. More »
Fiscal revisions needed to unlock Sub Sahara Africa's discovered oil: Wood Mac
Wood Mackenzie has released the key findings of one of its latest studies prepared for Africa Oil Week - Fiscal systems for oil in Sub Saharan Africa - which identifies the main themes emerging as nations across the region revise their fiscal policies. More »
Blink exploration well comes up dry, Faroe says
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, has announced the results of the Blink exploration well in the Norwegian Sea (Faroe 25%). More »
Unimin opens second unit train capable terminal at Benwood, WV
Unimin Energy Solutions has announced the grand opening of its 2nd unit train capable terminal located in Benwood, West Virginia. More »
Welltec sees increased demand for services as operators shift focus
International oil and gas industry solutions provider, Welltec, has reported a marked increase in demand for its services in the North Sea as operators scale down drilling operations. More »
DONG Energy joins EOR-focused joint industry project
Joint industry project OPTION is a step closer to tackling the challenges of oil recovery from reservoirs as DONG Energy delivers data and technical support to strengthen the project scope. More »
U.A.E. sees crude gaining in 2016 on stronger demand, less shale
Improving economies in Europe and elsewhere together with a continued decline in output of shale oil point to a recovery in demand for crude and an increase in prices next year, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. More »
MRC Global bags major contracts for Statoil's Johan Sverdrup project
MRC Global Inc. has announced that its Norwegian subsidiaries, MRC Teamtrade and MRC Energy Piping, have been awarded major contracts to support Statoil's Johan Sverdrup project in the North Sea. More »
Yergin sees oil price near bottom as U.S. Output set to fall
Oil is near a bottom and global supplies look poised to close their gap with demand as investments in new production decline and consumption grows, according to Pulitzer Prize-winning author Daniel Yergin. More »
Shell reorganizes natural gas business as BG takeover approaches
Royal Dutch Shell Plc announced organizational changes in its business as it prepares for its biggest ever takeover amid what it expects to be a prolonged downturn in oil prices. More »
Rig graveyard looms as Statoil cuts North Sea drillers loose
The pressure is building on North Sea drillers starved of contracts as Statoil ASA deepens cuts in investment to cope with a collapse in crude prices. More »
Shell failing to clean Nigeria oil-spill sites, Amnesty says
Royal Dutch Shell has failed to clean up four oil-spill sites in the crude-producing Niger River delta, three of which an under-resourced Nigerian regulator dealing with leakages said had been decontaminated, Amnesty International said in a report on Tuesday. More »
Fiscal revisions may be needed to unlock Sub Sahara Africa's 48 Bbbl of discovered oil: Wood Mac
Wood Mackenzie has released the key findings of one of its latest studies prepared for Africa Oil Week - Fiscal systems for oil in Sub Saharan Africa - which identifies the main themes emerging as nations across the region revise their fiscal policies. More »
Forum Subsea Rentals appoints new global business director
Forum Subsea Rentals has strengthened its senior management team with the promotion of Nicki Nicholls to the role of global business director. More »
Monday, 2 November 2015
Unimin Energy opens its second unit train capable terminal at West Virginia
Unimin Energy Solutions has announced the grand opening of its 2nd unit train capable terminal located in Benwood, West Virginia. More »
TransCanada asks U.S. State Department to pause Keystone XL review
TransCanada has sent a letter to Secretary John Kerry of the U.S. State Department asking the Department to pause its review of the Presidential Permit application for the Keystone XL pipeline. More »
Rig 'graveyard' looms as Statoil cuts North Sea drillers loose
The pressure is building on North Sea drillers starved of contracts as Statoil ASA deepens cuts in investment to cope with a collapse in crude prices. More »
Accenture completes acquisition of Schlumberger Business Consulting
Accenture has completed its acquisition of SBC (Schlumberger Business Consulting), the management consulting unit of Schlumberger. More »
Statoil cancels contract for Songa Trym semisubmersible
Statoil has decided to cancel its contract for the Songa Trym semisubmersible, four months before the contract’s expiration on March 4. More »
BP Technology Outlook sees technology boosting energy supplies
BP presented its outlook on technology at a press conference here, predicting secure and sustainable energy future through the application of existing and new technologies. More »
Oil falls from two-week high as Chinese manufacturing contracts
Crude declined from its highest closing level in two weeks as a measure of manufacturing activity signaled contraction for a third straight month in China, the world’s second-biggest oil consumer. More »
Chevron announces first production from Lianzi development
Chevron Corporation announced Monday that its subsidiary, Chevron Overseas (Congo) Limited, has commenced oil and gas production from Lianzi field, located in a unitized offshore zone between the Republic of Congo and the Republic of Angola. More »
LRE launches study to address innovation challenges in oil and gas industry
Lloyd’s Register Energy has launched a new report that reveals, whilst the current environment is creating opportunities for innovation, almost half of oil and gas executives admit they have fallen short of their innovation goals. The number of respondents saying they have fallen short has almost doubled as the oil price has gone down, with only 26% saying they had fallen short in Spring 2014. More »
Murkowski takes aim at Obama admin over Alaska’s energy resources
U.S. Sen. Lisa Murkowski, R-Alaska, has highlighted Alaska’s energy priorities as she delivered the weekly Republican address to the nation. More »
Russian crude output hits post-Soviet record defying price slump
Russian oil production broke a post-Soviet record in October for the fourth time this year as earlier investments boosted output and producers prove resilient to lower crude prices. More »
Maersk Oil in world first as drone completes internal tank inspection on FPSO
Cyberhawk Innovations, a leader in aerial inspection using remotely operated aerial vehicles (ROAV), has completed its first ever ROAV inspection of a cargo oil tank on an operational FPSO. More »
Anadarko names Ingram as executive V.P., Global LNG
Anadarko Petroleum Corp. has named Mitchell W. Ingram to the newly created position of executive V.P., Global LNG, effective immediately. More »
Oil price recovery seen as downturn spurs MandA activity
Global oil and gas acquisitions should accelerate heading into 2016 and a recovery in crude prices may follow, according to Sanford C. Bernstein and Co. More »
BP Technology Outlook sees technology boosting energy supplies and path to lower carbon future
BP presented its outlook on technology at a press conference here, predicting secure and sustainable energy future through the application of existing and new technologies. More »
OPEC seen staying pat on output by oil guru who called 2014 rout
OPEC will probably hold production steady at its meeting next month as the gap between supply and demand for oil closes, according to the analyst who correctly predicted last year’s rout in prices. More »
Equatorial Guinea promotes new offshore exploration in 2016
Following the success of its 2012 and 2014 bidding rounds, the Ministry of Mines, Industry and Energy of Equatorial Guinea has announced it will launch a new bidding round for all remaining deep and ultra-deepwater blocks in 2016. More »
Lloyd’s Register Energy launches new study to address the innovation challenges in oil and gas industry
Lloyd’s Register Energy has launched a new report that reveals, whilst the current environment is creating opportunities for innovation, almost half of oil and gas executives admit they have fallen short of their innovation goals. The number of respondents saying they have fallen short has almost doubled as the oil price has gone down, with only 26% saying they had fallen short in Spring 2014. More »
Lloyd’s Register Energy launches new study to address the innovation challenges in oil and gas
Lloyd’s Register Energy has launched a new report that reveals, whilst the current environment is creating opportunities for innovation, almost half of oil and gas executives admit they have fallen short of their innovation goals. The number of respondents saying they have fallen short has almost doubled as the oil price has gone down, with only 26% saying they had fallen short in Spring 2014. More »
LAGCOE 2015 welcomes more than 16,400 attendees
Louisiana Gulf Coast Oil Exposition (LAGCOE) 2015 has welcomed more than 16,400 from 46 countries and 49 states to the Cajundome and Convention Center in Lafayette, La., on Oct. 27 to 29. More »
GE Oil and Gas to acquire Advantec
GE Oil and Gas has agreed to acquire Advantec, a provider of subsea intervention equipment and services, to boost the company’s capabilities to offer cost-efficient products and services to customers worldwide. More »
Sen. Murkowski draws national attention to Alaska’s energy priorities
U.S. Sen. Lisa Murkowski, R-Alaska, has highlighted Alaska’s energy priorities as she delivered the weekly Republican address to the nation. More »
Sunday, 1 November 2015
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