Chinese Buyers Snap Up U.S. Oil Purchases at Widest Discounts Ever
China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.China started processing in March applications from its companies to waive import tariffs on U.S. energy goods as part of the Sino-U.S. Phase 1 trade deal…
Equinor Resumes Martin Linge Work, after Coronavirus-linked Halt
Norway's Equinor has restarted work at its Martin Linge development in the North Sea following a haltafter an offshore worker tested positive for coronavirus, the company said on Thursday."We are gradually stepping up activities again. We have cleaned and disinfected facilities, and believe that it's now safe to restart work," a company spokesman said.The company initially plans to bring back some 300 workers…
Saipem Inks Deal with Equinor on Floating Solar Farm Tech
Italy's Saipem has reached an agreement with Norway's Equinor to develop technology to build floating solar power farms close to the coast, the energy contractor said.The agreement is between Saipem's high-value services unit Moss Maritime and the Norwegian energy firm."The agreement with Equinor goes in the direction taken by Saipem and Moss Maritime to develop new technologies related to clean energy…
Saipem, Equinor Working on Floating Solar Panels
Italian oilfield services firm Saipem, and Norwegian oil and gas company Equinor are teaming up to develop a floating solar panel park solution for near coastal applications and rough weather conditions.According to a statement by Saipem, the technology will be based on the in-house developed concept by offshore rig designer Moss Maritime, part of Saipem's XSIGHT division dedicated to high value-added services…
U.S. Offshore Oil Lease Sale Weakest Since 2016
A major sale of oil and gas leases in the U.S. Gulf of Mexico on Wednesday generated $93 million in high bids, the lowest total for any U.S. offshore auction since 2016, reflecting caution in the drilling industry amid a steep slide in oil prices.Firing up offshore drilling is a crucial part of U.S. President Donald Trump's "energy dominance" agenda to maximize domestic production of crude oil, natural gas, and coal.
JOG Leads Study for Wider Greater Buchan Area Development
UK-Focused oil firm Jersey Oil & Gas will lead the study aimed at forming a hub to potentially develop oil discoveries made by several operators in the Greater Buchan Area in the UK North Sea.JOG said Monday has established and will lead the Greater Buchan Area Joint Integrated Studies Agreement between neighboring field operators, to undertake and…
Oil Giants Set Health Checks, Work-from-home Rules
Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread and threatened an industry reeling from falling demand and profits.BP, Exxon Mobil, Kinder Morgan, Motiva Enterprises and Royal Dutch Shell told most office staff to work from home starting Monday.
UK Limits Travel to Offshore Platforms
Britain's oil and gas sector association OGUK on Thursday banned people from traveling to offshore installations such as platforms if they have traveled to certain countries affected by the coronavirus in the previous 14 days.The ban comes after Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday…
Aibel Readies UPM for Johan Sverdrup
Norwegian service company within the oil, gas and offshore wind industries Aibel said that Johan Sverdrup's project team for the P2 platform could tick off for another milestone.The first deck of the Utility Process Module (UPM) being built in Haugesund is now complete, it said. Equinor-operated Johan Sverdrup project is located offshore Norway.According…
Russia Leads E&P Race in Arctic Region
Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of hydrocarbons and rare earth minerals.Warming temperatures in the Barents Sea and northern coastline of Russia are giving an added impetus to resource development in this region…
Saudi Aramco joins oil blockchain platform Vakt
Saudi Aramco Energy Ventures has bought into blockchain-based trading platform Vakt with $5 million in new shares, Vakt said on Tuesday.Aramco Trading Co, a subsidiary of Saudi Aramco, will use the platform.The VAKT platform specializes in post-trade processing.
Norway PM to Name Tina Bru as New Oil Minister -DN
Norwegian Prime Minister Erna Solberg will appoint Conservative lawmaker Tina Bru as oil and energy minister, business daily Dagens Naeringsliv and public broadcaster NRK reported on Thursday, citing unnamed sources. The office of the prime minister declined to comment. Bru was not available for immediate comment.If confirmed, 33-year-old Bru will oversee western Europe's largest petroleum industry…
Oil And Gas Discoveries Hit 4-Year High
The global oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015.According to Rystad Energy, last year recorded 26 discoveries of more than 100 million boe, with offshore regions dominating the list of new oil and gas deposits.Guyana’s success story from 2018 continued in 2019…
Norwegian PM Opens Johan Sverdrup Field
Norway's prime minister Erna Solberg has opened the Johan Sverdrup field center, and the Minister of Petroleum and Energy, Sylvi Listhaug, also attended the opening.Since Equinor and the Johan Sverdrup partners Lundin Norway, Petoro, Aker BP and Total started the field on 5 October last year, production has increased to a level well above 300,000…
Equinor Targets Zero Emissions
Norwegian oil producer Equinor aims to cut greenhouse gas emissions generated at offshore fields and onshore plants in Norway by about 40% in the coming decade and to near zero by 2050, it said on Monday.The cuts could allow Norway, western Europe's top oil and gas exporter, to continue to pump millions of barrels of oil even as the country seeks…
Offshore Energy Outlook for 2020
The “new normal” is a phrase tossed around often in offshore energy circles today as those servicing and operating in the sector grapple with the harsh realities of the prolonged industry downturn. Operators, service companies and equipment suppliers have been forced to adjust to oil selling at prices well below the $100+ per barrel mark seen in years past.
Wintershall Dea Norge Wins Norway Permit
The Norwegian Petroleum Directorate (NPD) has granted Wintershall Dea Norge, a Norwegian unit of the German oil company Wintershall Dea, a drilling permit for well 66046604/5-2 S, which is located in the Norwegian Sea.According to NPD, the well will be drilled from the Scarabeo 8 drilling facility in after concluding the drilling of wildcat well 6604/6…
Equinor, Rosneft to develop Arctic oilfield
Russia's Rosneft and Norway's Equinor have agreed details on how to develop an Arctic Siberian onshore oilfield, they said on Monday, their first joint investment since agreeing a strategic partnership in 2012.The firms expect to extract about 250 million barrels of oil and 23 billion cubic metres of gas in the first stage of developing the Severo-Komsomolskoye oilfield…
Majors Face New Shareholder Climate Resolutions
An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions.Dutch group Follow This is targeting U.S. giants ExxonMobil, Chevron and their European rivals Royal Dutch Shell, BP and Equinor with climate resolutions ahead of…
Wilhelmsen, NorSea Join Forces for Hydrogen
The Norwegean global maritime industry group Wilh. Wilhelmsen Holding ASA and Denmark-based supply chain manager NorSea join forces to develop liquid hydrogen supply chain for maritime applications in Norway.The environmentally friendly liquid hydrogen can be offered to commercial shipping in large scale supply within first quarter 2024, claimed the companies.Together with major industry players such as Equinor…
