Industry News

Baker Hughes Rig Count Shows Slight USA Gain

6 March 2021, 10:16am
The U.S. rotary rig count increased by one this week.
Read more... (source: www.rigzone.com)


Oil Price Forecast Significantly Bumped and More

6 March 2021, 10:16am
Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...
Read more... (source: www.rigzone.com)


Light Crude Advances 7.5% for the Week

5 March 2021, 9:25pm
Oil rallied to the highest in nearly two years in New York.
Read more... (source: www.rigzone.com)


Oilfield Services Stocks Show Resiliency

5 March 2021, 6:57pm
Here is a recap oil and gas market hits and misses for the week ending March 5, 2021.
Read more... (source: www.rigzone.com)


Saudis Bet Against Return of USA Shale Glory Days

5 March 2021, 4:14pm
Saudi Arabia just made a high-stakes wager against "drill, baby, drill."
Read more... (source: www.rigzone.com)


Fuel Demand Fizzles in Key USA Export Markets

5 March 2021, 2:47pm
The havoc that the pandemic is wreaking in Brazil and Mexico is cooling demand for gasoline and diesel in two top markets for U.S. oil refiners.
Read more... (source: www.rigzone.com)


Cold weather brings near record-high natural gas spot prices

5 March 2021, 1:00pm
Natural gas spot prices at several trading hubs approached their record highs briefly during the week of February 14 amid significantly colder-than-normal weather that affected most of the Lower 48 states. The cold weather led to natural gas supply and demand imbalances. Natural gas production declined because of freeze-offs (temporary interruptions in production caused by cold weather) amid high demand for heating and power. At the benchmark Henry Hub, natural gas prices reached $23.86 per million British thermal units (MMBtu) on February 17, the highest real (inflation-adjusted) price since an Arctic blast on February 25, 2003. Henry Hub prices averaged $5.49/MMBtu in February, the highest monthly average since February 2014.
Read more... (source: www.eia.gov)


Ezion sells another liftboat to repay bank loans

5 March 2021, 12:48pm
Singapore’s liftboat provider Ezion Holdings has agreed to sell another liftboat, this time for a price tag of about $18.5 million. The post Ezion sells another liftboat to repay bank loans... ...
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Oil Sands Give OPEC a Boost

5 March 2021, 12:28pm
Major oil sands producers in Western Canada will idle almost half a million barrels a day of production next month, helping tighten global supplies as oil prices surge.
Read more... (source: www.rigzone.com)


Oil Soars as Saudi Gamble Buoys Market Bulls

5 March 2021, 12:22pm
Oil moved above $65 a barrel after OPEC+ chose not to relax supply curbs even as the global economy pulls out of its pandemic-driven slump.
Read more... (source: www.rigzone.com)


SLB, CVX, MSFT in Carbon Negative Bioenergy Project

5 March 2021, 12:14pm
Schlumberger New Energy, Chevron Corporation, Microsoft, and Clean Energy Systems have announced plans to develop a bioenergy with carbon capture and sequestration project.
Read more... (source: www.rigzone.com)


Offshore Project Commitments Set for Record Boost

5 March 2021, 11:59am
According to a new Rystad Energy report, offshore project commitments are expected to not only recover going forward but their number is also set to reach a new record in the five-year period towards 2025.
Read more... (source: www.rigzone.com)


Analysts React to OPEC+ Meeting

5 March 2021, 11:27am
Rigzone speaks to oil and gas analysts at Wood Mackenzie, Rystad Energy and EY.
Read more... (source: www.rigzone.com)


Santos gets green light for Archer 3D seismic

5 March 2021, 10:44am
Australia’s offshore energy regulator NOPSEMA has accepted Santos’ proposal to acquire a 3D marine […] The post Santos gets green light for Archer 3D seismic appeared first on... ...
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Neptune to test methods for measuring offshore methane emissions

5 March 2021, 10:37am
Neptune Energy and EDF will test an approach for measuring oil and gas methane emissions from offshore oil and gas facilities. The post Neptune to test methods for measuring offshore methane... ...
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Sea Lion partners get license extension from Falkland Islands gov’t

5 March 2021, 10:16am
The Falkland Islands government has agreed to extend the terms of several offshore oil and gas licenses operated by Premier Oil and Rockhopper Exploration, including the one containing the Sea Lion... ...
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Shearwater Wins Offshore Australia 3D Survey

5 March 2021, 9:51am
The marine geophysical firm will use the Geo Coral 3D streamer vessel. PHOTO SOURCE: Shearwater GeoServices
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TDI-Brooks delivers two EBS projects offshore Angola

5 March 2021, 9:50am
Offshore survey player TDI-Brooks has recently completed two environmental baseline studies (EBS) for Cabinda […] The post TDI-Brooks delivers two EBS projects offshore Angola appeared first... ...
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Saipem to pay up for overtime work violation on rig

5 March 2021, 9:38am
Saipem has lost a dispute in Norway and will have to pay compensation to two offshore workers due to the violation of working hours regulations. The post Saipem to pay up for overtime work... ...
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Shell UK head to lead low-carbon fuels. North Sea boss replaced

5 March 2021, 8:43am
Oil major Shell has made changes in its UK senior leadership as part of a global overhaul to cut costs and shift away from oil and gas to renewable power. The post Shell UK head to lead low-carbon... ...
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OPEC and allies extend oil production cuts into April

5 March 2021, 8:30am
OPEC and allies on Thursday decided to extend oil production cuts into April 2021, while offering small exemptions to Russia and Kazakhstan. The post OPEC and allies extend oil production cuts into... ...
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PetroRio buys more interest in Wahoo field, plans FPSO tieback

5 March 2021, 7:43am
PetroRio has signed an agreement with Total for the acquisition of a 28.6% interest in the BM-C-30 Block, which holds the Wahoo field located off Brazil. The post PetroRio buys more interest in... ...
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Vroon delivers hybrid accommodation vessel to Shell

5 March 2021, 7:00am
Offshore support vessel provider Vroon has delivered the hybrid accommodation vessel MWV Falgout to end client Brunei Shell Petroleum. The post Vroon delivers hybrid accommodation vessel to Shell... ...
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WTI Closes at Highest Level Since April 2019

4 March 2021, 8:54pm
Oil surged to the highest in nearly two years after the OPEC+ alliance surprised traders.
Read more... (source: www.rigzone.com)


OPEC+ Surprise Triggers Oil Price Surge

4 March 2021, 6:29pm
The oil market had been expecting additional supply.
Read more... (source: www.rigzone.com)


Valaris Clears Bankruptcy Hurdle

4 March 2021, 6:02pm
The U.S. Bankruptcy Court for the Southern District of Texas has approved Valaris' Chapter 11 prearranged reorganization plan.
Read more... (source: www.rigzone.com)


ERCOT Board Fires CEO

4 March 2021, 2:48pm
Magness has defended the grid operator's decision to call for the largest forced power outage in U.S. history.
Read more... (source: www.rigzone.com)


Average USA Pump Price May Soon Top $3

4 March 2021, 2:22pm
Pump prices across the United States could exceed $3 a gallon for the first time in six years.
Read more... (source: www.rigzone.com)


Energy Transition Will Drive More Copper Mining

4 March 2021, 1:22pm
Copper is a vital part of green infrastructure.
Read more... (source: www.rigzone.com)


Texas and Florida had large small-scale solar capacity increases in 2020

4 March 2021, 1:00pm
TAs of December 2020, the states with the most small-scale solar photovoltaic (PV) capacity were California (10.6 gigawatts (GW)), New Jersey (1.9 GW), and Massachusetts (1.8 GW). Of the 4.5 GW of small-scale solar capacity added in the United States in 2020, California accounted for 31%, the largest share by far. Although Texas and Florida have less total small-scale solar capacity than states such as California or New Jersey, capacity has grown rapidly in these states in recent years. In 2020, Texas added 422 megawatts (MW) of small-scale solar, and Florida added 282 MW. State incentives, strong solar resources, and policy changes are largely driving these gains.
Read more... (source: www.eia.gov)


Houthis Claim Strike on Aramco Oil Depot

4 March 2021, 12:21pm
Yemen's Houthi rebels said they launched missile and drone strikes against a Saudi Arabian oil facility and a military base.
Read more... (source: www.rigzone.com)


Platts Apologizes to Oil Traders

4 March 2021, 12:14pm
S&P Global Platts apologized to oil traders for the speed at which it announced an overhaul of a price that underpins a swath of the world's crude oil transactions.
Read more... (source: www.rigzone.com)


The United States installed more wind turbine capacity in 2020 than in any other year

3 March 2021, 1:00pm
In both 2019 and 2020, project developers in the United States installed more wind power capacity than any other generating technology. According to data recently published by the U.S. Energy Information Administration (EIA) in its Preliminary Monthly Electric Generator Inventory, annual wind turbine capacity additions in the United States set a record in 2020, totaling 14.2 gigawatts (GW) and surpassing the previous record of 13.2 GW added in 2012. After this record year for wind turbine capacity additions, total wind turbine capacity in the United States is now 118 GW.
Read more... (source: www.eia.gov)


Annual U.S. natural gas production decreased by 1% in 2020

2 March 2021, 1:00pm
U.S. natural gas production—as measured by gross withdrawals—averaged 111.2 billion cubic feet per day (Bcf/d) in 2020, down 0.9 billion Bcf/d from 2019 as result of a decline in drilling activity related to low natural gas and oil prices in 2020.
Read more... (source: www.eia.gov)


Cold weather led to refinery shutdowns in U.S. Gulf Coast region

1 March 2021, 1:00pm
The cold snap that affected much of the central part of the country in mid-February disrupted energy systems, particularly in and around Texas. In the U.S. Gulf Coast, where the petroleum infrastructure has rarely operated in sub-zero temperatures, several refineries fully or partially shut down, leading to the largest reduction in Gulf Coast refinery operations in several years.
Read more... (source: www.eia.gov)


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