Friday, July 19, 2019

Oil And Gas News

Aker Energy IPO May be in Late 2019 or 2020

Aker Chief Executive Oeyvind Eriksen (Photo: Aker)

Norwegian investment firm Aker could launch its planned initial public offering (IPO) of Aker Energy in late 2019 or in 2020, depending on when Ghana approves the development plan of its Pecan oilfield, the CEO said.The company, controlled by Norwegian billionaire Kjell Inge Roekke, has sa

Woodside Q2 Revenue Slides 32%

(Photo: Woodside)

Australia's Woodside Petroleum Ltd reported a 32% drop in second-quarter revenue on Thursday, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas facility and weaker…

New CEO Guy Takes the Helm at EnerMech

John Guy (Photo: EnerMEch)

Aberdeen-headquartered services company EnerMech announced on Wednesday that John Guy has been appointed as Chief Executive Officer (CEO), succeeding company founder Doug Duguid, who will assume the role of Deputy Chairman.Guy’s appointment as CEO will become effective from August 1…

Block Energy Acquires West Rustavi Asset

Image: Block Energy

The oil and gas company in Georgia,  Block Energy said its working interest in the West Rustavi licence, in Georgia, has increased to 100%.The increase, from 71.5% and originally from 25%, follows an agreement made with Georgian Oil & Gas Ltd in late February.With immediate effect…

SPARK Joins OSC for $450mln Biz Incubator

Photo: Saudi Arabian Oil Co.

Saudi Aramco's King Salman Energy Park (SPARK) and Dubai-based Oilfields Supply Center Ltd. (OSC) signed an agreement to establish OSC as an anchor tenant at SPARK.OSC will develop a business incubator called the Common User Supply Base (CUSB) in collaboration with Saudi Aramco…

Anadarko Shareholders to Vote on Oxy Deal

(Photo: Anadarko)

Anadarko Petroleum Corp shareholders will vote Aug. 8 on the oil and gas producer's planned $38 billion sale to Occidental Petroleum Corp - the biggest oil and gas deal of the year.Occidental avoided its own shareholder vote on the deal…

Deepwater Leads in Discovered Oil and Gas

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Half of the 6.7 billion barrels of oil equivalent (boe) new conventional oil and gas discoveries in the first half of 2019 were deepwater finds, signalling a return for explorers to high-risk frontier deepwater plays, said analyst Rystad…

Total, IFPEN Join Forces to Cut Carbon

Photo: Total

The French Institute of Petroleum IFP Energies Nouvelles (IFPEN) and compatriot multinational integrated oil and gas company Total announced that they signed a strategic R&D partnership yesterday, that includes an agreement to endow a chair at the IFP School…

Atlantic Offshore Wind: Favorable Winds for Maritime

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Now that the United States finally can envision steady winds blowing from the Atlantic Seaboard due to a pipeline of offshore wind farms on the horizon, the maritime industry can finally step up and earn some of the benefits. This includes shipbuilding…

EU: Turkey's Drilling off Cyprus Coast of "Grave Concern"

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The European Union on Monday said Turkey's plan to drill for oil and gas off Cyprus was of grave concern and an unacceptable escalation of tensions surrounding the Mediterranean island."Turkey's declared intention to illegally conduct a new drilling operation northeast of Cyprus is of grav

DTEK to Develop the Zinkivska Block

(File photo: DTEK Oil&Gas)

DTEK Oil&Gas and its subsidiaries have been selected as winners in a competition for the largest Product Sharing Agreement (PSA) in Ukrainian history. Subsequent to signing the PSA, the company will invest over $37 million into the development…

Equinor to Sell Shares in Lundin Petroleum

(Photo: Lundin Petroleum)

Norwegian oil and gas firm Equinor ASA on Sunday said it will sell a 16% stake in Lundin Petroleum AB for about $1.56 billion, and in return acquire an additional 2.6% stake in Johan Sverdrup oilfield.Equinor agreed to sell about 54.5 million Lundin shares at a price of 266.4 crowns ($28.2

Woodfibre LNG Gets BC OGC Permit

Map: BC Oil & Gas Commission

Woodfibre LNG, a liquefied natural gas (LNG) export facility planned for Howe Sound on the southern B.C. coast,  has received its facility permit from the British Columbia (BC) Oil and Gas Commission (OGC).“Following a rigorous process…

The Fundamentals of AI in Oil and Gas

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The oil and gas industry has cutting-edge technology when it comes to the processes of drilling for oil, but when it comes to invoicing and scheduling crews and equipment, the technology is rather basic. On top of the antiquated technology for administration work…

Eni, Sonatrach Push Algeria Projects

Image: ENI

Algeria's energy giant Sonatrach and Italian multinational oil and gas company announced the intention to accelerate the development of new oil and gas projects in North Berkine Basin in the Algeria, that will lead to a significant increase…

Ward Leonard WL29BC200 AC Induction Motor

Photo: Ward Leonard

The Ward Leonard WL29BC200 AC induction motor is the oil and gas industry’s only 2,000 horsepower motor designed to fit into a 1,500 horsepower motor package, according to its manufacturer.At up to 19 inches smaller and 10% lighter than competing 2…

US Drillers Add Rigs

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U.S. energy firms this week increased the number of oil rigs operating for a second week in a row with oil futures up about 12% over the past couple of weeks despite plans by most producers to cut spending on new drilling this year.The rig count…

Icahn Steps up Fight with Occidental

(Photo: Anadarko)

Billionaire investor Carl Icahn on Wednesday ratcheted up his fight with Occidental Petroleum over its pending purchase of rival Anadarko Petroleum by calling for a special shareholder meeting where he hopes to win board seats.In a regulatory filing…

EnVen Co-founder Exits, Sues Company

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An EnVen Energy Corp co-founder claims the chief executive of the offshore oil and gas producer provided misleading production and financial data to the board and forced him out as president, according to a lawsuit in a Texas court.David…

BHGE to Bring AI to Oilfield

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Oilfield service company Baker Hughes, a GE Company (BHGE) has entered into a joint venture with the California-based Artificial Intelligence (AI) software provider C3.ai to accelerate the digital transformation in the oil and gas industry."AI…