Sunday, September 23, 2018

Statoil News

Petrobras Output in Campos Drops to Lowest Level in 17 Years

(File photo courtesy MODEC)

Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001, as mature fields decline, according to company data.Output has dropped 15.8 percent in 12 months due…

Equinor Q2 Core Earnings Lag Forecasts

© Bo B. Randulff, Roar LIndefjeld / Equinor

Norwegian oil and gas firm Equinor said on Thursday second-quarter adjusted operating income rose from a year ago but missed forecasts due to higher maintenance costs at its Norwegian fields.The company formerly known as Statoil also said it was too early to follow peers, such as Shell and Total…

Pope Warns Energy Bosses of Global Destruction without Fuel Shift

© andiz275 / Adobe Stock

Pope Francis warned that climate change risked destroying humanity on Saturday and called on energy leaders to help the world to convert to clean fuels to avert catastrophe."Civilisation requires energy but energy use must not destroy civilisation," the pope told top oil company executives…

Shale Innovator Mark Papa Joins Schlumberger Board

Oilfield services company Schlumberger NV has appointed shale pioneer Mark Papa and energy researcher Tatiana Mitrova to its board of directors, according to a filing on Monday with the U.S. Securities and Exchange Commission.Papa, who built independent energy producer EOG Resources into one of the most profitable U.S.

Norway Wants to Build Floating Wind Farms

(Photo: Equinor)

Norway's energy minister will meet with companies on Wednesday to discuss the potential construction of offshore floating wind farms, he told Reuters on Friday.The meeting is the first concrete step to spur development of offshore floating power generation, after the government said last…

Equinor Explores Floating Wind Turbines to Power N.Sea Oilfields

(Image: Equinor)

Norway's Equinor said on Tuesday it is considering whether to build a pioneering offshore wind farm with floating turbines to supply electricity to two North Sea oilfields as part of a strategy to curb greenhouse gas emissions.The project at the Gullfaks and Snorre oilfields would cost around…

Norway Awards Oil Permits to 11 Firms in Arctic Licensing Round

The West Hercules drilling rig in the Barents Sea. (Photo: Ole Jørgen Bratland / Equinor)

Norway has awarded 12 oil and gas exploration licences to Equinor and 10 other companies focused mostly on the Arctic, where Oslo believes it has the greatest potential for significant new discoveries.Nine of the licences are located in the Barents Sea and three in the Norwegian Sea off central Norway…

Trump Effort to Lift U.S. Offshore Wind Sector Sparks Interest

© zentilia / Adobe Stock

The Trump administration wants to fire up development of the U.S. offshore wind industry by streamlining permitting and carving out vast areas off the coast for leasing - part of its 'America First' policy to boost domestic energy production and jobs.The Europeans have taken note.The drive…

Equinor Acquires Energy Trader Danske Commodities

CEO Henrik Lind (left), Danske Commodities, and Tor Martin Anfinnsen, senior vice president, Marketing & Supply in Equinor. (Photo: Thomas Priskorn / PRISKORN)

Norwegian oil and gas major Equinor, formerly Statoil, is acquiring the Danish energy trading company, Danske Commodities for EUR 400 million (USD 470 mln). "Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million…

Hundreds of Norway Oil Workers Go On Strike

Photo courtesy of Equinor

Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher.One union said hundreds more workers would join the strike on Sunday if…

Hundreds of Oil Workers Strike in Norway

Photo: Harald Pettersen / © Equinor

Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher.One union said hundreds more workers would join the strike on Sunday if…

No Contact Yet Between Parties in Norway Oil Strike

© corepics / Adobe Stock

A Norwegian union representing striking oil workers and employers' representatives were not talking to each other as of Thursday, days before a possible escalation of the industrial action.Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal…

Equinor Extends Prosafe Deal

Safe Boreas. Photo: Prosafe

Semi-submersible firm Prosafe said that it has been offered a month extension for the Safe Boreas charter contract at the Mariner project by operator Equinor."Equinor UK Limited (formerly Statoil (UK) Limited) has exercised the first of six one-month options to extend the charter of the Safe Boreas.

Equinor Bets on Offshore Wind

Photo: Equinor

Norway's Equinor is focusing its green efforts on offshore wind, a goal it is already on its way to achieve, but some investors are concerned about the impact this shift will have on the company's bottom line.European oil and gas companies are diversifying their portfolio to include less-emitting sources of energy as a result of the Paris 2015 agreement…

Equinor Looks to Cut More Costs at Giant North Sea Oilfield

Photo: Equinor

Norway's Equinor sees scope to further reduce development costs at the Johan Sverdrup oilfield in the North Sea, as it looks to maximize the potential of what could be the last giant field to be found off the Nordic country.The field, one of the five largest oil finds offshore Norway, is estimated to contain up to 3.1 billion barrels of oil equivalents…

Kongsberg Wins Johan Sverdrup Phase 2 Contract

Phase 2 will add a fifth platform to the ‘The North Sea Giant’, Johan Sverdrup. Credit: Equinor

Equinor Energy AS has contracted Kongsberg Maritime to deliver the Safety and Automation Systems (SAS) for the recently announced phase 2 of the Johan Sverdrup development in the Norwegian North Sea.The phase 2 agreement includes delivery of SAS and digital technology for a new processing platform, which is due to start production in 2022.

Clash of the Russian Energy Titans

(File photo: Rosneft)

Russian energy major Rosneft is increasingly challenging domestic rival Gazprom in international gas markets, from West Africa to Turkey and even Europe, according to five industry sources with knowledge of the matter.Last week, Rosneft won a multi-billion dollar contract in Ghana that had been targeted by Gazprom, the sources said.

Equinor Awards $3.7 Billion Service Deals

The Grane platform in the North Sea. (Photo: Harald Pettersen / Equinor ASA)

Norwegian oil and gas firm Equinor has awarded drilling and well service contracts worth 30 billion Norwegian crowns ($3.68 billion) to Schlumberger, Halliburton and Baker Hughes, it said on Monday.The contracts cover integrated well services, such as directional drilling, drill bits, fluids and cementing, for an initial four years, and can be extended for u

House Set to Debate Offshore Wind Energy Bills in US Waters

© diak / Adobe Stock

A U.S. House committee will kick off debate next week on three new bills aimed at boosting offshore wind energy leases in federal waters.The House Subcommittee on Energy and Mineral Resources will hold a hearing on Tuesday on three bipartisan offshore wind proposals.One proposal would require…

RAMCO Agrees to Contract with Equinor

Photo courtesy fo RAMCO

RAMCO, the international specialist in the care and maintenance of oil country tubular goods (OCTG), has signed a contract with Equinor (formerly Statoil) for inspection and mobilization of casing and tubing in Norway, worth more than $10 million a year to 2024.Over the last 40 years, RAMCO…