Sunday, March 24, 2019

Energy News

US Rig Cuts Continue

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U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending…

Anadarko Mulls 16 LNG Charters for Mozambique

An LNG carrier transits the Med in a recently taken image (CREDIT: Robert murphy)

Anadarko said on Thursday it would seek long-term charters for around 16 liquefied natural gas (LNG) tankers it would need to ship gas from a proposed project in Mozambique.The independent U.S.

Ophir Agrees to be Bought by Medco

(Photo: Ophir Energy)

London-listed Ophir Energy Plc said on Wednesday it agreed to be bought by Indonesian oil and gas group Medco for a sweetened cash bid of 408.4 million pounds ($539 million) after previously…

GoM Lease Bids Hit $244mln

Image: U.S. Department of the Interior

Oil and gas Lease Sale 252 generated $244.3 million in high bids for 227 tracts covering 1,261,133.85 acres in federal waters of the Gulf of Mexico (GoM). According to Bureau of Ocean Energy Management data…

Global Energy Takes Over Apollo Offshore

Image: Global Energy (Group) Limited

Global Energy Group, the provider of contract services to the oil and gas industry, has bought a majority stake in Aberdeen-based Apollo Offshore Engineering, forming a new contractor firm.The…

Polish LNG Terminal Gets EU Grant

Image: Polskie LNG

Poland’s LNG import terminal in Świnoujście will receive a EUR128mln grant from from the European Regional Development Fund and the Cohesion Fund to expand its regasification capacity.The…

Oil Majors Rush to Dominate US Shale

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In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles.Workers…

Genel Energy Posts $254.6 Mln Loss

(Photo: Genel Energy)

Iraqi Kurdistan-focused oil producer Genel Energy Plc posted a full-year operating loss of $254.6 million because of write-downs of about $424 million for its Miran PSC field assets.The…

US Lease Sale a Test for Drilling Demand

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flyingrussian / Adobe Stock

The Trump administration will hold its fourth major auction for oil and gas leases in the U.S. Gulf of Mexico on Wednesday, in a fresh test of demand from drillers that have lately been…

Oil Prices Reach 2019 Highs

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Oil prices rose to new 2019 highs on Tuesday, supported by OPEC supply cuts and falling output from Iran and Venezuela because of U.S. sanctions.Brent crude oil futures were up 16 cents at $67.70 a barrel at 1415 GMT…

Wood's Profit Beats Estimates

© Michael Flippo / Adobe Stock

Wood Plc's 2018 profit topped market expectations as the British oilfield and engineering services provider trumpeted the success of its 2017 takeover of smaller rival Amec Foster Wheeler…

Aoka Mizu FPSO Hooks Up to Lancaster Field

Aoka Mizu FPSO (Photo: Hurricane Energy)

Hurricane Energy's floating production, storage and offloading (FPSO) vessel has been connected to the group's North Sea Lancaster oilfield, another milestone for the group as it seeks…

Sole Offshore Construction Phase Completed

Orbost Gas Plant (Photo: APA Group)

Installation and testing of the 67 km control umbilical connecting the Sole gas field with the Orbost Gas Plant has been completed, marking the conclusion of the offshore construction phase of the Sole Gas Project…

Mexico to Invite 4 Firms to Bid on Pemex Oil Refinery

The Mexican government will invite four companies to bid in a restricted tender for work building the new Dos Bocas refinery for state oil company Pemex, Energy Minister Rocio Nahle said…

Oil Edges Above $67

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Oil edged further above $67 a barrel on Monday, supported by the prospect of prolonged OPEC-led oil supply curbs though concern that an economic downturn may dent fuel consumption curbed…

Australia: Ren. Energy to Reach 100GW Soon

Graph: Rystad Energy

Australia’s renewable energy pipeline will reach 100 gigawatts (GW) before May, which is a milestone in the country's energy sector.In January and February 6.65 GW of new capacity from 62 assets were added…

Saipem Push with US Drillers Draws a Blank

(File photo: Saipem)

Italian oil services company Saipem is trying to lure big U.S.

Rising US Oil Clout on Show in Houston

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A glance at the attendee list at one of the world's largest energy industry events in Houston this week left little question about the growing influence of the United States over global oil politics.Present: top U.S.

US Rig Count Lowest Since April 2018

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U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude…

Tennet: EIA for Offshore Wind Farm

Image: TSCNET Services

Tennet has commissioned Arcadis and Pondera to carry out an environmental impact assessment (EIA) work and permit applications for grid infrastructure for the planned 4GW Ijmuiden Ver offshore…