Thursday, February 27, 2020

Oil And Gas News

PGNiG Gets Green Light for Skogul

Map: PGNiG

Polish state-controlled oil and gas company PGNiG received formal consent from the Norwegian Petroleum Directorate (NPD) to start drilling for oil and gas in the North Sea's PL460 concession, or Skogul deposit.PGNiG has a 35-percent share in the Skogul deposit through its subsidiary…

Saudi Aramco Launches Largest Shale Gas Development Outside US

Amin H. Nasser (Photo: Saudi Aramco)

Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters on Monday.The…

Tendeka Appoints BD Manager for S. America

Renato Barbedo  (Photo: Tendeka)

Tendeka has appointed a new business development manager for South America as the company increases its support for oil and gas operators in the region.Renato Barbedo will work with operators across the continent to deploy Tendeka’s…

PetroChina Resumes Guangdong Refinery Construction

© Alexey Novikov / Adobe Stock

Asia'a largest oil and gas firm PetroChina resumed construction of its oil refinery and petrochemical project in southern Chinese province of Guangdong, as the number of new coronavirus cases fell for a second straight day.In an attempt to curb the spread of the virus, China had extended L

TWMA Appoints Aslaksen as New CEO

Halle Aslaksen  (Photo: TWMA)

Specialist drilling waste management company, TWMA, has announced the appointment of Halle Aslaksen as its new CEO.Aslaksen joins the Aberdeen-headquartered company from the Norwegian hydropower operator Småkraft, where he served as CEO.

Kongsberg, Zero Join Forces for Renewables

MS Roald Amundsen is the first of two hybrid ships Hurtigruten will add to its fleet over the next few years. Innovative sustainable technology from Kongsberg Gruppen reduces fuel consumption and CO2-emissions on the ships by 20 percent. Image: Kongsberg Gruppen

International marine technology group Kongsberg Gruppen and  Zero environmental foundation signed a three-year collaboration agreement.The main intentions of the collaboration are to create increased momentum in the shift to renewable and emission-free solutions.Together…

Chrysaor Backs Mocean Subsea

Image: Mocean Energy

Mocean Energy, global wave energy player, has teamed up with energy major Chrysaor, subsea energy storage experts EC-OG and AUV specialist Modus in a project to look at using renewables for subsea power.The project, funded by the partners…

Offshore Accounts for 60% of Oil Discoveries

Graph:  GlobalData

Offshore discoveries accounted for more than 60% of global discoveries in 2019, up significantly on previous years, according to a study by GlobalData.GlobalData report reveals that while Colombia and Norway saw the highest number of discoveries drilled in 2019…

Rystad: 2020 Biggest Year for Offshore Wind Jackets

Jacket foundation for an offshore wind turbine / Image: Mike Mareen - AdobeStock

The global offshore wind farms (OWF) that are set for start-up this year will make 2020 the year with the highest ever use of steel jacket foundations for new developments, Norwegian energy intelligence firm Rystad Energy said in a report…

Gulf of Mexico Lease Sale Set for March

Image: U.S. Department of the Interior

U.S. Secretary of the Interior David Bernhardt announced that the Bureau of Ocean Energy Management (BOEM) will offer over 78 million acres for a region-wide lease sale scheduled for March 18, 2020, as part of President Trump’s America…

USA Ups BOEM Offshore Wind Budget

Image: BOEM

The Trump Administration has proposed a $189m fiscal year 2021 budget for the Bureau of Ocean Energy Management (BOEM), designating just under $27m for offshore wind.The FY 2021 budget includes approximately $26.5 million to advance…

Upstream Sector Leads O&A M&A in 2019

Graph: GlobalData

A latest research revealed that the upstream sector accounted for the bulk of mergers and acquisitions (M&A) in the global oil and gas industry in 2019, generating some high-value transactions during the process.According to GlobalData's theme report…

Total CEO: Governments Not Oil Firms Must Drive Carbon Curbs

© eaumstocker / Adobe Stock

It is up to governments to drive decarbonisation and consumers will have to pay more to achieve carbon neutrality, Total's chief executive said, adding the French firm has no intention of moving away from oil and gas production.Oil firms…

UKCS Mediation Pilot Launched

Image: Oil and Gas Authority

UK oil and gas industry regulator Oil and Gas Authority (OGA) has revealed that it has launched a year-long UK Continental Shelf (UKCS) “mediation pilot”.According to the OGA, the pilot aims to test the extent to which mediation can resolve certain disputes between oil and gas licensees…

Shale Pioneer Hess Says Key U.S. Fields Starting to Plateau

\© denismax / Adobe Stock

Shale pioneer John Hess said Tuesday that key U.S. shale fields are starting to plateau, calling shale "important but not the next Saudi Arabia."Production in the Eagle Ford Shale in South Texas is starting to plateau, while the Bakken…

India to Buy Russian Crude Oil

Vladimir Putin Introduces the Largest Shipyard in Russia to Narendra Modi. Photo: Rosneft

Russian oil and gas giant Rosneft has signed a contract with India’s largest fuel retailer Indian Oil Corporation (IOC) for supply of 2 million tonne (MT) crude oil to India by end 2020.The Moscow-headquartered integrated energy company…

Offshore to Constitute 25% of Wind Demand

Image: Orsted

Offshore wind will constitute 25% of total wind demand in 2028, up from 10% in 2019 and will narrow the gap with offshore upstream oil and gas in terms of capital expenditure deployment, said the analyst firm Wood Mackenzie.The possibility of offshore wind becoming cheaper than coal…

NOV Warns Virus Fallout Could Hit Supply Chain

© Kalyakan / Adobe Stock

U.S. oilfield equipment supplier National Oilwell Varco on Friday called the coronavirus a "wildcard" in the oil industry's outlook, with an extended outbreak potentially hurting access to Chinese-make materials and foreign sales.The…

UK Readies Carbon Storage Road-map

Image: Oil and Gas Technology Centre (OGTC)

Heriot-Watt University researchers are to map out the UK’s best sites for carbon capture by studying the geology of depleted gas fields in the North Sea.The team led by Professor John Underhill will use data from industry regulator the…

Russia Leads E&P Race in Arctic Region

Image: GlobalData

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…