Nigeria Offshore Drilling Expenditure Surges
Offshore drilling expenditure in Nigeria, Africa’s leading oil producer, will hit $2.26 billion in 2016, according to the latest report from GBI Research, a business intelligence firm sourced by this 'BusinessDay' news item. The report which provides forecasts for the offshore drilling industry in the Middle-East and Africa region up to 2016…
Global LNG Analytics Services Announced
TerraMar Networks and Energy Perspectives join forces to offer ground-breaking LNG analytics services. Global GPS asset tracking provider, TerraMar Networks Limited has announced that it has entered into an agreement with Energy Perspectives, expert consultancy in natural gas based in Norway, to collaborate on an innovative global analytics services for the LNG (liquefied natural gas) market.
Offshore Oil & Gas: Floating Production Market a Bright Spot
Despite industry gloom about the offshore market, orders for production floaters continue to flow. Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU was ordered and a modified LNG tanker has been leased for storage use. Looking forward…
Shell, Rolls-Royce, MAN Ink LNGi Deal
DNV GL’s new LNG intelligence portal (LNGi) aims to bring stakeholders from across the LNG industry together to share market intelligence and contribute to the uptake of LNG as a ship fuel. Leading LNG suppliers and engine manufacturers including, Shell, the Marine division of Rolls-Royce and MAN will be some of the first companies to use LNGi.
What’s New in Floating Production? December 2016
The December WER report examines whether OPEC’s decision to limit crude production will accelerate deepwater project starts over the next 12 to 24 months, given 3 billion barrels of oil stocks in global inventory, 5,000+ drilled-but-uncompleted shale wells in the U.S. ready to be fracked and likelihood that producers will cheat on output quotas.
Cleargistix Partners with Focus Safety Services
Cleargistix LLC announced that it has agreed to a strategic partnership with Focus Safety Services, LLC of Lafayette, La. The agreement helps to broaden each company’s offerings for safety and solutions in the oil and gas services field. “We have a stringent process of vetting opportunities for strategic partnerships, but this decision was easy for us…
Bunker Pricing Service Launched by Argus
Argus Marine Fuels has launched a daily marine fuels pricing and analysis service. The new service provides unique market data and intelligent analysis of the increasingly complex marine fuels market. Trade in marine fuels is changing quickly. Oil prices are high and volatile. New environmental regulations are forcing ships to burn more expensive low-sulfur fuels.
Threat Intelligence Sharing for the Energy Sector
CrowdStrike Inc., a provider of endpoint protection, threat intelligence and 24/7 monitoring and incident response services, announced the availability of CrowdStrike Intelligence Exchange (CSIX) for industry verticals. Under the CSIX initiative, partners and end users are able to take advantage of the full spectrum of…
Next-wave LNG Terminals get Smaller, More Flexible
The liquefied natural gas market is growing every year, but the terminals that ship and receive the fuel are shrinking. The booming sector's next-generation infrastructure is being designed for a emerging-market buyers that want smaller volumes on shorter, more flexible contracts. LNG export terminals, where the gas is liquefied and put on vessels for shipping…
Trafigura Replicates Oil Market Tactics with LNG
Growing spot market attracts commodity trade houses; Trafigura traded 1.7 mln tonnes LNG in 2014. Trafigura is blazing a trail for trade houses, adopting highly successful tactics used in oil markets, to get an edge in the burgeoning liquefied natural gas (LNG) sector. Oil traders usually act as a go-between for producers and end users…
Reservoir Intelligence Takes Well Analysis to the Next Level
NUTECH, a firm in petrophysical analysis and reservoir intelligence, offers an integrated set of proprietary technologies that it says takes Reservoir Intelligence to the next level by providing a comprehensive and evolving picture of a reservoir across the entire life cycle of an asset through screening five areas of expertise: petrophysics…
New Market Intelligence for Subsea Companies
Subsea UK has launched a new market intelligence service to help subsea companies exploit global opportunities. The industry body, which represents the UK’s $13.3 billion subsea sector, has developed SubseaIntel – a unique on-line database which provides regularly updated details on almost 1,200 subsea projects worldwide.
Rolls-Royce Merges 2 Subsidiaries for Better Engine Life Management
Rolls-Royce today announced the merger of two wholly owned subsidiaries, Aero Engine Controls (AEC) and Optimized Systems and Solutions (OSyS), to form a new business, Controls and Data Services (CDS), which will continue to operate as part of the Rolls-Royce Group. The new business will bring together equipment sensors…
Senators ask Spy Chief to Advise on Energy Boom
Four Republican senators on Tuesday urged the director of national intelligence to keep policymakers informed of the global security implications of booming U.S. energy output as Congress considers repealing the ban on domestic oil exports. "We agree that energy independence within North America and, perhaps, the Western Hemisphere is not only an attainable goal…
Maersk Energy: Uptick in Offshore Oil
COPENHAGEN, Feb 20 (Reuters) - Prospects for the offshore oil drilling market are improving but profits for drillers are still under pressure and rates will not rise before 2019, the head of A.P. Moller-Maersk's energy business said. Oil firms have seen cash flow climb in 2017 a high since a three-year slump in crude prices, lifted by their cost-cutting plans and a crude price recovery.
Schlumberger, IBM Team Up to Boost Upstream Production
Schlumberger and IBM today announced that they have teamed up to provide integrated services to upstream oil and gas customers that will improve the business impact of production operations projects. The offering combines Schlumberger’s production optimization services, upstream expertise, and industry-leading Avocet* production…
Aquaterra Appoints Berven
Aquaterra Energy appointed Christian Berven as Business Development Director, as it strengthens its EMEA operations by opening offices in Stavanger, Norway. The company, headquartered in Norwich, UK, was the first to secure a multi-million pound investment from EV Private Equity, as part of its pledge last year to support fast-growing North Sea businesses.
WER 2018 Floating Production Systems Forecast
World Energy Reports’ (WER) 2018 Forecast Report, the 21st in a series of forecasts dating from 1998, presents projection of floating production system orders over the next five years. The 102-page report provides market intelligence and insights useful to business planners and others involved in deepwater development.
GE Commits to Baker Hughes, Shares Jump
Shares of General Electric Co's Baker Hughes rose sharply on Wednesday after the parent company said it no longer planned to shed its holdings in the oilfield services business before the expiration of a two-year lockup period, reversing an earlier stance that had cast uncertainty around the stock. General Electric last…
Petrobras is World’s 12th largest
Petrobras is now the world’s 12th largest oil and gas company, according to the 2014 edition of the Petroleum Intelligence Weekly (PIW) ranking, published by the Energy Intelligence Group. This annual ranking lists the 50 largest companies in the sector, based on facts such as oil and gas reserves, and production and refining capacity.