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Equinor Extends Contract for Maersk Intrepid Rig
Norway's Equinor has awarded Maersk Drilling AS a five-month contract for the Maersk Intrepid rig to provide operational support on the Martin Linge field in the North Sea. Two extension options will also be exercised, and four new options will be added.Maersk Intrepid initially had…
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Oil Rebounds Towards $81 but Weaker Demand View Weighs
Oil rebounded towards $81 a barrel on Friday as an equities rally lent support, though prices pared gains after a closely watched forecaster deemed supply adequate and the outlook for demand weakening.Crude was still heading for its first weekly drop in five weeks, pressured by a big rise in U.S.
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US GoM Oil Production Off 32% from Storm
U.S. Gulf of Mexico producers have cut oil output by 32 percent and natural gas production by 13 percent as a result of the lingering effects of Hurricane Michael, the Bureau of Safety and Environmental Enforcement (BSEE) said on Friday, citing reports from 27 companies.The reductions…
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Aker BP to Buy Equinor Gas, Condensate Discovery
Aker BP has agreed to buy Equinor's 77.8 percent stake in Norway's King Lear gas and condensate discovery for $250 million in cash, the two companies said on Monday.The North Sea discovery has estimated reserves of 77 million barrels of oil equivalents, and by connecting it to existing production facilities at the Ula field…
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Hurricane FPSO Leaves Dubai After Upgrade, Shetlands First Oil Seen in H1
The Aoka Mizu floating production, storage and offloading (FPSO) vessel ordered by Hurricane Energy has left Dubai following a series of upgrades, the company said, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.Hurricane specializes…
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U.S. Oil Firms Restoring Operations in Storm-tossed Gulf of Mexico
Oil producers on Thursday were checking Gulf of Mexico production platforms and beginning to return crews to more than 90…
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Petrobras Forms JV with Murphy in Gulf of Mexico
Brazil's state-controlled oil company Petroleo Brasileiro SA is forming a joint venture with Murphy Oil Company to explore…
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LNG Report: Floating Liquefaction & Regasification
International Maritime Associates has completed a 12-month study of the global market for floating gas liquefaction plants…
Latest news
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Shell Sees Nigeria Corruption Trial Lasting Many Months
Royal Dutch Shell expects a landmark corruption trial over a Nigerian oil deal to last many months, warning staff of continued…
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Statfjord A Platform Shut Due to Power Outage
A power outage has shut down production at Equinor's Stafjord A platform in the North Sea and a restart time was as yet unclear…
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Michael Shuts Nearly 40% of U.S. Gulf of Mexico Oil Output
Nearly 40 percent of daily crude oil production and more than one-third of natural gas output was lost from offshore U.S.
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Baker Hughes is Exploring Advanced Manufacturing with AFRC
The University of Strathclyde’s Advanced Forming Research Center (AFRC) and Baker Hughes, a GE company (BHGE), have joined…
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Chevron becomes first oil major to exit Norway
U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers…
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Storm Shuts Nearly 40% of US GoM Oil Output
Nearly 40 percent of daily crude oil production was lost from offshore U.S. Gulf of Mexico wells on Tuesday due to platform…
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Pemex to Announce Light Crude Finds in Gulf of Mexico
Mexican state oil firm Pemex will on Tuesday announce findings of light crude in seven fields in the Gulf of Mexico, two people familiar with the matt
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British North Sea Oil Costs, Spending on the Rise
The costs and operating expenditure needed to produce oil and gas in the British North Sea are set to rise both in overall…
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US Grants BP, Serica Licence to Run Iran-owned North Sea Field
BP and Serica Energy received a conditional licence from U.S. authorities to continue operating a North Sea gas field partly…
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RDIF, Schlumberger Aim to Reach Eurasia Drilling Deal Soon
Russia's RDIF sovereign wealth fund and U.S.
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U.S. Crude Rises as One-fifth of Oil Production Lost Ahead of hurricane
U.S. crude prices were modestly higher on Tuesday as nearly one-fifth of daily oil production was lost from offshore Gulf…
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India's Petronet LNG says Talks to Invest in Qatar Have Slowed
India's Petronet LNG Ltd said on Monday its talks to invest in Qatar's exploration and production sector had "slowed down…
Exploration
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India's Petronet LNG says Talks to Invest in Qatar Have Slowed
India's Petronet LNG Ltd said on Monday its talks to invest in Qatar's exploration and production sector had "slowed down…
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LOOP Resumes Normal Operations After Storm
The Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States, said it resumed…
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Rowan Sells Two Jack-up Rigs to ARO Drilling
Texas-based offshore drilling contractor Rowan Companies announced that it has concluded the sale of two LeTourneau TARZAN Class jack-up rigs…
Drilling
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Norway to Spend More Looking for O&G Near Russian Border
Norway plans to step up spending on looking for oil and gas in the northern Barents Sea close to its border with Russia,…
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Orsted Expands US Business with $510 Mln Acquisition
Orsted, the world's largest offshore wind developer, said on Monday it would buy U.S.-based Deepwater Wind LLC for $510 million…
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Baker Hughes Acquires 5% of ADNOC Drilling for $550 Mln
Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's…
Production
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Venezuela Sets New Wages for Oil Workers
Venezuela on Wednesday increased wages for workers at state energy company PDVSA after employees staged small protests to…
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World's Top Traders Divided on Oil Outlook as Iran Sanctions Loom
The world's biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking…
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Chevron Eyes Houston Ship Channel for 2nd US Gulf Refinery
Chevron Corp wants to build or buy a refinery along the U.S. Gulf Coast to process crude oil from its rapidly growing Permian Basin operations…
