Tuesday, December 11, 2018

Gas Industry News

Mexico President's Pemex Plans Rattle Debt-holders

Mexican President Andres Manuel Lopez Obrador (Mexican Government photo)

Mexican President Andres Manuel Lopez Obrador's declaration of war on "neo-liberal" economics has shaken investors holding Petroleos Mexicanos bonds, fueling concern about the future of the highly-indebted state oil company he has pledged to revive.Ratings agencies and three managers spoken to by Reuters…

BW Offshore Recycling FSO Belokamenka

FSO Belokamenka. Photo: BW Offshore

The provider of floating production services to the oil and gas industry BW Offshore has signed an agreement to dispose of the FSO Belokamenka for recycling in compliance with the Hong Kong Convention.The Oslo-listed company said in a press release that the FSO Belokamenka  is an Ultra Large Crude Carrier (ULCC) of 360…

Swissco Sells Vessels to Allianz Middle East

Image: Swissco Holdings

Singapore’s Swissco Holdings, currently under judicial management, announced that it is disposing of a substantial part of its offshore support vessels division, which is expected to help reduce the group's liabilities.UAE's Allianz Middle East Ship Management has signed a deal to buy most of the OSV fleet of Swissco…

Hydrogen As an Energy Carrier

Pic: DNV GL

Hydrogen can play a significant role in decarbonizing world energy supply to mitigate climate change, according to a new research paper by DNV GL, the technical advisor to the oil and gas industry.According to new DNV GL research paper, decarbonization could drive an estimated 100,000-fold rise in demand for hydrogen for energy by 2050.

Qatar Quits OPEC to Focus on LNG

Saad Sherida Al-Kaabi. Photo: Qatar Petroleum

Qatar said Monday that it will leave the oil cartel OPEC on January 1 after nearly 60 years. The announcement was made in a series of tweets.Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, announced Qatar’s withdrawal from OPEC and said the organization was informed.Qatar is one of the cartel’s smallest oil producers…

Qatar to Leave OPEC

© Maksym Kapliuk / Adobe Stock

Qatar said on Monday it was quitting OPEC from January to focus on its gas ambitions, taking a swipe at the group's de facto leader Saudi Arabia and marring efforts to show unity before this week's meeting of exporters to tackle an oil price slide.Doha, one of OPEC's smallest oil producers but the world's biggest liquefied natural gas (LNG) exporter…

ASEAN Adopts Oil Spill Contingency Plan

Pic: International Maritime Organization (IMO)

International Maritime Organization (IMO) technical assistance and institutional support has been instrumental in the recent adoption of the Association of Southeast Asian Nations (ASEAN) Regional Oil Spill Contingency Plan.IMO said that the plan was adopted by the 24th ASEAN Transport Ministers Meeting, held in Bangkok, Thailand (8 November).

Eni in Talks to Grow Presence in the Gulf

Italian major Eni is in talks to grow its footprint in Oman and the United Arab Emirates as part of plans to build its asset base in the oil-rich Gulf and offset its reliance on Africa, a source close to the matter said.The international oil company has a limited presence in the Middle East, where some of the world's biggest oil and gas reserves lie…

Simmons Edeco Wins Tonalli Energía Contract

Image: Simmons Edeco

The supplier of onshore drilling and workovers, wellhead maintenance services Simmons Edeco  has been awarded a contract by Tonalli Energia SAPI de CV to provide drilling services in Mexico.Tonalli Energía, SAPI de CV, founded in 2015, is a joint venture between Grupo Idesa Group and Petrofrontera, a subsidiary of International Frontier Resources Corporation…

Aquaterra to Install Two Platforms for FIRST E&P in Nigeria

Image: Aquaterra Energy

Global offshore engineering solutions provider Aquaterra Energy in conjunction with Maerlin Nigeria Ltd, its local partner, has been awarded a contract by FIRST Exploration and Petroleum Development Company Ltd (FIRST E&P) to design, engineer and install two non-identical Sea Swift conductor-supported offshore…

Canadian Drillers Expect Flat Year

Photo: Canadian Association of Oilwell Drilling Contractors - CAODC

The Canadian Association of Oilwell Drilling Contractors (CAODC) said that the Canadian oil and gas industry is simply too dysfunctional to anticipate any kind of quick recovery.As a result, Canadian service companies are exploring any and all options to generate positive cash flows, said CAODC President, Mark Scholz."Our members are on life support," says Scholz.

DEME Launches Orion

Pic: DEME

Belgian offshore vessel owner DEME has launched its next generation, giant new offshore installation vessel ‘Orion’ in a ceremony at the COSCO Qidong shipyard in China. ‘Orion’ will feature an unrivalled combination of exceptionally high transport and load capacity, impressive lifting heights and green technology.The…

Big Oil Digs North Sea's 'Final Frontier'

Clair Ridge (Photo: BP)

"Little hope of THIS rock ever producing oil," BP geologist Bill Senior scribbled in 1977 on a note assessing a recent oil discovery in a distant corner of the North Sea.That same rock is today the heart of BP's prized Clair field in the West of Shetland region, which this week started its second phase of…

Heerema Fabrication Group Sells UK and Netherlands Yards

Image: Heerema Fabrication Group

Dutch offshore construction and engineering company Heerema Fabrication Group (HFG) intends to divest a significant part of its activities in the field of design and fabrication of complex steel constructions for the offshore market.HFG has been struggling for some time with insufficient project volume and marginal profitability.

Atlantic Canada Oil Spill Caused by Weak Flowline Connection

A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last week off the coast of Canada's Newfoundland & Labrador, Husky Energy Inc said on Tuesday.The spill is the largest-ever off the coast of the Canadian province, the regulator Canada-Newfoundland & Labrador Offshore Petroleum Board said.Husky…

Lomax Joins TEMS International

Nicola Lomax (Photo: TEMS International)

Aberdeen-headquartered oil and gas service company TEMS International has appointed Nicola Lomax to the newly created role of QHSE manager as it continues to expand its workforce in response to growing demand for its services.Lomax will be responsible for developing and managing the firm’s health, safety…

Eidesvik Offshore Bags CGG Charter

Veritas Viking. Image: Eidesvik Offshore

Norway's Eidesvik Offshore said that a company in the group has entered into an agreement with a CGG subsidiary for a new contract for the source vessel Veritas Viking.The contract is 5 months firm with further options and will commence ultimo November 2018. CGG is a French-based geophysical services company providing  geological…

Ca Tam Field to Start Production January 15

(Photo: Vietsovpetro)

Vietsovpetro, a Vietnam-Russia oil joint venture, will start crude oil production at the Ca Tam field offshore southern Vietnam from Jan. 15, three sources with knowledge of the matter said on Tuesday.Ca Tam is the first new field to be brought into production in Vietnam in years after a 2014 plunge in oil prices slashed exploration.

Versalis, Petrochem JV for O&G Industry in Middle East

Image: ENI

Versalis, the Eni chemical company, Petrochem and Mazrui Energy Services have signed an agreement to establish Versalis Petrochem Mazrui (VPM), a joint venture for the commercialization of innovative chemicals for the Oil & Gas industry in the Middle East.Petrochem, a manufacturer of drilling fluids, is a Mazrui Energy Services Company.

Ultra Petroleum Appoints David Honeyfield as CFO

Map: Ultra Petroleum

Ultra Petroleum informed that David Honeyfield has been appointed to serve as CFO of the gas producer with assets in Wyoming’s Green River Basin.A press release from the energy company engaged in domestic natural gas and oil exploration, development and production said that Honeyfield has over 25 years of…