Friday, April 20, 2018

Oil And Gas News

​Semco Maritime Generated Positive Operating Results in 2017

Photo: Semco Maritime

Semco Maritime’s revenue shrunk to DKK 1,408 million in 2017 against DKK 1,598 million in 2016 as the offshore services provider observed continued price pressure and market hesitancy amid postponed projects and growing competition across…

Partners Aim to Improve Riser Performance and Efficiency

Trelleborg said its offshore operation has signed a supply and license agreement with Reel Power Oil and Gas to collaboratively develop and market a new Vortex Induced Vibration (VIV) suppression system aimed at improving riser performance…

BP to Keep Carbon Footprint Flat into 2025

(File photo: BP)

BP to reduce CO2 emissions by 3.5 mln tonnes per year by 2025 even as it plans to sharply increase oil and gas output in coming years. BP said on Monday it will keep carbon emissions flat over the decade to 2025 even as its oil and gas ouput is set to grow…

Flintstone Sets Its Sights on Floating Wind

Andrew Clayson, managing director of Flintstone (Photo: Flintstone Technology Ltd)

Flintstone Technology Ltd said it plans to diversify its mooring operations to help drive down costs for the offshore floating wind industry.The company has developed a set of mooring system solutions to match specific project requirements…

GE Profit Tops Estimates

General Electric Co posted quarterly results that topped expectations on Friday, as earnings from aviation, healthcare and transportation offset weak power and oil-and-gas profits, sending shares sharply higher. GE affirmed its forecast for 2018 earnings and cash flow…

Vermilion Energy to Acquire Spartan Energy

Oil and gas producer Vermilion Energy Inc said it would buy rival Spartan Energy Corp for about C$1.40 billion ($1.11 billion).   Spartan shareholders will get 0.1476 of a Vermilion share for each share they own, Vermilion said.   Reporting by John Benny 

iHawk to Digitize Major O&G Construction Project

Cyberhawk awarded a contract for its visual asset management software Photo courtesy Cyberhawk

Cyberhawk has been awarded a three-year contract by an oil and gas supermajor to provide a digital asset management solution during the construction of its new world-scale petrochemical complex in the U.S.The main construction phase of the project is already underway…

Philippines Eyes Exploration Deal with China in S.China Sea

© Regormark / Adobe Stock

The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official said on Monday. In February,…

Post-Bankruptcy, Seadrill Eyes Closer Oil Service Ties

File Image (CREDIT: AdobeStock / © xmentoys)

Offshore oil driller Seadrill aims to expand relations with Schlumberger, the world's largest oil services firm, and other suppliers to the global oil and gas industry, its chief executive told Reuters on Wednesday. Seadrill plans to…

UAE's Stanford Marine in Talks to Restructure $325 mln in Debt

Photo: Standford Marine Group

Stanford Marine Group <IPO-SFMG.L>, majority owned by a fund managed by private equity firm Abraaj Group, is in talks with banks to restructure a $325 million Islamic loan, banking sources said. The Dubai-based oil and gas services firm…

Maersk Establishes Decomissioning Company

(Photo courtesy Maersk Supply Service)

A 50/50 joint venture (JV) between Maersk Drilling and Maersk Supply Service will provide decommissioning services to oil and gas operators. After decades of production, an increasing amount of offshore oil and gas fields are approaching the end of their economic life.

Texas Drilling Permits Fell in March, Completions Rise

© Natalia Bratslavsky / Adobe Stock

Texas's energy regulator issued fewer new drilling permits in March than a year ago, but well completions rose, according to data released on Friday by the state.A total of 1,220 original permits were issued last month, down about 7 percent from the same time last year.

Royal Dutch Shell to Resume Deepwater Exploration off Egypt

File Image: Adobestock / © DonvictoriO

Royal Dutch Shell said it will resume deep-water exploration for oil and gas off Egypt's Mediterranean coast, Executive Vice President Sami Iskander told a news conference on Tuesday. Egypt is looking to production from recently discovered fields to halt energy imports by 2019.

Oklahoma Orders Cut to Disposal Well Volumes Following Quakes

© Jim / Adobe Stock

Oklahoma regulators forced an oil and gas producer to reduce operations on a well used for disposing saltwater following a large earthquake over the weekend that set off a series of seismic activity in the state, Matt Skinner, spokesman for the Oklahoma Corporation Commission (OCC)…

US Drillers Add Oil Rigs for Third Consecutive Week

© FerrezFrames / Adobe Stock

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 this year with crude prices near three-year highs.Drillers added five oil rigs in the week to April 20, bringing the total count to 820…

Schlumberger Fights to Boost Patent Damages at US Supreme Court

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The U.S. Supreme Court on Monday appeared divided over whether to make it easier for companies to recoup profits lost due to the unauthorized use of their patented technology overseas in a dispute involving Schlumberger NV, the world's…

Husky Energy CFO McKenzie Resigns

Jeff Hart, Interim CFO, Husky Energy

Canadian oil and gas producer Husky Energy Inc said on Thursday its chief financial officer, Jon McKenzie, has resigned effective immediately. The company did not give any reason for McKenzie's departure. Husky named Controller Jeff…

Fieldwood Hungry for US Offshore Output

© eaumstocker / Adobe Stock

The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico. Instead, he is doubling down.

Mexican Presidential Front-Runner Eyes Pemex Reforms

File Image: an offshore GoM oil platform. (CREDIT: AdobeStock / (c) Mike Mareen)

Andres Manuel Lopez Obrador, the leftist leading the race to win Mexico's presidency in July, will root out corruption at Pemex and also aims to slim down the state-owned oil and gas company, his pick for finance minister said on Thursday.

Exxon, Qatar Mull U.S. Shale Deal - WSJ

File Image (CREDIT: AdobeStock / © Shamtor)

Exxon Mobil is in talks with Qatar over a possible deal that could see the country investing in the company's U.S. gas resources, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The deal could take the shape of a joint venture in which Qatar…