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Petrobras March Production Dips
Petrobras reports that, in March its total production of oil and gas, including natural gas liquids (NGL), was 2.66 million barrels of oil equivalent per day (boed), with 2.56 million boed produced in Brazil and 99 thousand boed produced abroad. Total production operated by the company (Petrobras and partners’ share) was 3.31 million boed…
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Petrobras starts production of Búzios field, Santos Basin
Petrobras started (20/4) the production of the Búzios field, in the pre-salt of the Santos Basin, through the platform P-74. Búzios is the first field in production under an Onerous Assignment regime. The P-74 is located about 200 km off the coast of the state of Rio de Janeiro, at a water depth of 2…
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Halliburton Revenue Jumps 34 pct
Oilfield services provider Halliburton Co reported a 34 percent jump in first-quarter revenue on Monday as rising oil prices prompted North American companies to boost oil and gas production. Net income attributable to Halliburton was $46 million, or 5 cents per share to shareholders, for the three months ended March 31.
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Subsea 7 Makes Hostile Bid for McDermott
Offshore oil services firm Subsea 7 has made an unsolicited offer worth about $2 billion for U.S. rival McDermott, potentially breaking up the U.S. company's agreed deal with onshore engineering firm Chicago Bridge & Iron (CB&I).The deal could make Oslo-listed Subsea 7 the market…
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Hedge Fund Oil Bulls on Rampage as Bears Vanish
Hedge fund managers have never seemed so convinced that oil prices are set to rise rather than fall in the near term, according to the latest positioning data published by regulators and exchanges. Fund managers remain super-bullish even though benchmark Brent prices have almost tripled…
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Odfjell Drilling to Expand Fleet
Offshore rig firm Odfjell Drilling plans to expand its floating rig fleet to between six and 10 from four now, it said on Friday…
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Belgium to Double Offshore Wind Energy Capacity
Belgium will double the area of its North Sea waters made available to offshore wind parks after 2020, the government announced on Friday…
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Schlumberger Profit Surges on Higher Oil Prices
Oilfield services provider Schlumberger NV reported an 88 percent rise in quarterly profit on Friday as rising crude oil…
Latest news
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Borr Drilling Cuts Jobs in Texas
Offshore rig operator Borr Drilling cut 66 jobs in Texas at the end of March, according to a state regulatory notice, as…
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Oil Dips as Rising U.S. Yields Steer Bulls
U.S. rig count rises to 820, highest since March 2015; but strong demand, OPEC cuts still support prices overall. Oil prices…
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Alfa Laval's Volume, Profit Both Beat Street
Engineering group Alfa Laval reported quarterly earnings and order intake above market expectations on the back of an upturn…
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Attollo Bags Multimillion Jack Up Deals
Attollo Offshore has heralded Q2 by signing multiple multi-million dollar jack up contracts within the oil and gas and renewable energy sectors.
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McTiernan Appointed Non-Executive Chairman, Hurricane Energy
Steven McTiernan has been appointed as Non-Executive Chairman of the board of directors of Hurricane Energy plc, effective May 1, 2018. Dr.
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Newbuild Kreuz Challenger Mobilized for Brunei Shell Contract
Subsea services company Kreuz Subsea has mobilized the recently delivered newbuild dive support vessel, Kreuz Challenger…
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Semco Maritime Generated Positive Operating Results in 2017
Semco Maritime’s revenue shrunk to DKK 1,408 million in 2017 against DKK 1,598 million in 2016 as the offshore services provider…
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Baker Hughes Profit Beats on Oilfield Services Growth
Baker Hughes, the oilfield services company controlled by General Electric, posted a quarterly profit that beat Wall Street…
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Oil Falls After Trump Criticizes OPEC
Russia committed to cuts until end of year as 2018 demand looks strong (Goldman Sachs). Oil prices fell on Friday after U.S.
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Trump Administration Mulls Opening Alaska Refuge to Drilling
The Trump administration this week will begin the environmental review process for oil and gas drilling on a section of the…
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Commodities Ride Rollercoaster on $100 Oil Talk
Oil highest in over 3 yrs on report Saudis want higher prices; nickel sees biggest jump in 6-1/2 years on sanctions worries.
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BP, Reliance Move Ahead in Deep Water
BP and Reliance Industries Limited (RIL) today announced the sanctioning of the ‘Satellite cluster’ project in Block KG D6.
Exploration
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US Drillers Add Oil Rigs for Third Consecutive Week
U.S. energy companies added oil rigs for a third week in a row as energy firms follow through on plans to spend more on drilling…
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To Frack or Not to Frack? Australia's NatGas Dilemma
The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural…
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ScanReach's In: New Safety at Sea Tech
Norwegian start-up technology firm ScanReach is set to redefine safety standards at sea with In:Range, a unique system capable…
Drilling
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Chevron Greenlights Gorgon LNG Expansion
Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest…
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BSEE Approves Arctic Offshore Suspension Requests
The Bureau of Safety and Environmental Enforcement (BSEE) approved suspensions of operations Tuesday in response to requests…
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Statoil Eyes Future Projects with Pemex
Norway's Statoil will evaluate new offshore projects in Mexico, including potential tie-ups with state oil company Pemex…
Production
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Trump Rails Against Oil Prices, OPEC Pushes Back
U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the…
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Novatek: Yamal's First Train Plans Maintenance in May
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Oil Climbs on Saudi Ambitions, U.S. Stock Draw
Saudi Arabia seen seeking oil price of $80-$100 a barrel as U.S. commercial crude stocks decline towards five-year average.
