Industry News

IPC starts drilling program offshore Malaysia

26 June 2019, 2:11pm
International Petroleum Corporation (IPC) has begun drilling of the first well in a planned multi-well drilling program on Block PM307 offshore Malaysia. ...
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ConocoPhillips files decommissioning plan for subsea facilities on MacCulloch field

26 June 2019, 1:34pm
ConocoPhillips has submitted its draft decommissioning plan for the MacCulloch field, which is located in the UK North Sea, to the UK authorities.  ...
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VIDEO: Guyana’s first FPSO named in Singapore

26 June 2019, 1:02pm
Naming ceremony for SBM Offshore’s Liza Destiny FPSO, destined for ExxonMobil’s Liza field in Guyana, was held last Saturday at Keppel Shipyard in Singapore. ...
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U.S. electricity generation from renewables surpassed coal in April

26 June 2019, 1:00pm
In April 2019, U.S. monthly electricity generation from renewable sources exceeded coal-fired generation for the first time based on data in EIA’s Electric Power Monthly. Renewable sources provided 23% of total electricity generation to coal’s 20%. This outcome reflects both seasonal factors as well as long-term increases in renewable generation and decreases in coal generation. EIA includes utility-scale hydropower, wind, solar, geothermal, and biomass in its definition of renewable electricity generation.
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Norway OKs Lundin’s plan for first Edvard Grieg tie-back

26 June 2019, 10:18am
Lundin Petroleum has received final approval for the plan for development and operation for the Solveig field from the Norwegian Ministry of Petroleum and Energy. ...
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Equinor dishes out sand screen deals worth over $195 million

26 June 2019, 9:38am
Equinor has signed three-year contracts with Tendeka and Baker Hughes Norge for providing sand screen services at a total value of around NOK one billion ($195.2M), including options for five... ...
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Neptune gets green light for two North Sea projects

26 June 2019, 9:23am
Neptune Energy has confirmed that its development plans for the Duva (PL636) and Gjøa P1 (PL153) projects in the North Sea have been approved by Norwegian authorities. ...
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Equinor and OMV join forces for two Norwegian developments

26 June 2019, 9:15am
Norway's Equinor and Austria's OMV have signed two memorandums of understanding (MoU) to cooperate on both the Wisting development in the Barents Sea and the concept development for the Hades/Iris... ...
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Apply wins study contract on Equinor’s Mariner platform

26 June 2019, 8:34am
Odfjell Drilling has awarded Apply a study contract for upgrading the Intervention and Completion unit’s (ICU) circulation and material handling system on Equinor’s Mariner A platform in the UK. ...
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Dolphin Drilling files for bankruptcy

26 June 2019, 7:33am
Offshore drilling company Dolphin Drilling ASA has filed for bankruptcy after failure of creditors to agree on the terms for a consensual restructuring. ...
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Peruvian gov’t approves Tullow’s entry in two offshore licenses

26 June 2019, 7:17am
The Government of Peru has approved Tullow Oil's entry into country's two offshore licenses, Z-38 and Z-64. ...
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Capricorn picks up drilling permit for Godalen well in Norwegian Sea

26 June 2019, 7:11am
The Norwegian Petroleum Directorate (NPD) has granted Capricorn Norge a drilling permit for a well in the Norwegian Sea.    ...
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Saudi Aramco signs deals “worth billions of dollars” with Korean firms

26 June 2019, 7:01am
Saudi oil giant Saudi Aramco has signed twelve agreements potentially worth billions of dollars with major South Korean companies. ...
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CHC helicopters to support Wintershall Dea in Norwegian Sea

26 June 2019, 6:13am
CHC Group has been awarded a contract from Wintershall Dea to provide helicopter services in support of its forthcoming drilling program in the Norwegian Sea. ...
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TechnipFMC pays $301.3M to settle Brazil bribery case

26 June 2019, 6:08am
Oilfield services company TechnipFMC has agreed to pay $301.3 million to the U.S. and Brazilian authorities to resolve anti-corruption investigations in Brazil and relating to the intermediary,... ...
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Damen completes maintenance work on Deep Arctic DSV

26 June 2019, 5:36am
Damen Shiprepair Amsterdam has completed maintenance work on the diving support vessel (DSV) Deep Arctic. ...
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Nominees announced for Offshore Energy Awards 2019

26 June 2019, 5:25am
After a grueling pitch round followed by an individual score from the respective jury we can proudly announce the three nominees per award for 2019 (in random order)! ...
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Why Rapid Shale Production is a Perk

26 June 2019, 12:00am
The accelerated production of shale wells leaves them uniquely positioned to take advantage of the peaks and plateaus in oil prices.
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Offshore's Future Constrained by Cash Problems?

26 June 2019, 12:00am
Hit by high debt levels and low dayrates for vessels and rigs, companies are struggling to refinance operations.
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Aramco Plans $6B Expansion at Korean Refinery

26 June 2019, 12:00am
Saudi Aramco is planning a $6 billion expansion at its South Korean refining unit as the state-owned producer signs deals to ensure long-term demand for its crude in Asia.
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Dallas Fed: Oil, Gas Activity Flat in 2Q

26 June 2019, 12:00am
After three years of growth, activity in the oil and gas sector was flat in the second quarter, according to energy executives surveyed in the Dallas Fed’s quarterly energy survey.
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Five Converging Threats Downstream Firms Face

26 June 2019, 12:00am
Five major forces that have traditionally acted independently will converge over the next decade, threatening a largely unprepared target.
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Oil Prices Surge on Inventory Report

26 June 2019, 12:00am
WTI and Brent crude oil futures posted healthy gains Wednesday.
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Biggest US East Coast Refinery to Close

26 June 2019, 12:00am
The biggest refinery on the U.S. East Coast will shut down, after a massive explosion and fire crippled operations at a site that has helped fuel the region for 153 years.
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Drillers Using Fuel to Power Fracking Operations

26 June 2019, 12:00am
Drillers have found a new use for the glut of natural gas that's sent prices for the fuel below zero in America's biggest shale patch: use it to power fracking operations.
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South Africa Creating New Oil, Gas Policy to Bolster Growth

26 June 2019, 12:00am
South Africa is working on a policy to govern the development of oil and gas resources.
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Senegal president’s brother resigns over offshore gas deal corruption claims

25 June 2019, 2:28pm
Senegal president’s brother has reportedly resigned from his government position following allegations that he was paid bribes related to a 2014 award of offshore blocks. ...
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Crude oil inputs to Mexico’s petroleum refineries continued to decline in 2018

25 June 2019, 1:00pm
Crude oil inputs to Mexico’s petroleum refineries declined for the fifth consecutive year in 2018, falling to nearly 600,000 barrels per day (b/d), a 50% drop from 2013 levels. This decline in crude oil processing has coincided with a decrease in domestic production of the light crude oil that the country’s refineries are better suited to process. Mexico has increasingly relied on imports of petroleum products from the United States to satisfy domestic demand.
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Wintershall Dea farms out Shrek licenses off Norway

25 June 2019, 12:53pm
Wintershall Dea has farmed out its 30% stake in the Shrek licenses (PL838/838B) in the Norwegian Sea to Lime Petroleum. ...
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Another delay for MacGregor’s TTS buy

25 June 2019, 11:49am
Cargotec's MacGregor has yet to complete the acquisition of TTS Group's marine and offshore businesses, originally proposed in February 2018. ...
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Shearwater starts seismic survey over KrisEnergy’s Cambodia block

25 June 2019, 11:06am
KrisEnergy has announced the beginning of a 1,200 sq. km 3D Seismic Survey inthe offshore Cambodia Block A concession, where the company is developing the Apsara oil field. ...
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LLOG starts production from Buckskin field in Gulf of Mexico

25 June 2019, 9:15am
U.S. Gulf of Mexico operator LLOG has started production from the Buckskin offshore field in the deepwater Gulf of Mexico. ...
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Shell awards Jackdaw FEED job to Kvaerner

25 June 2019, 9:01am
Kvaerner has entered into a contract with Shell to perform an early phase design engineering of the planned Jackdaw wellhead platform on the United Kingdom Continental Shelf. ...
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Update: Dolphin Drilling might file for bankruptcy

25 June 2019, 7:44am
Norwegian offshore drilling contractor Dolphin Drilling ASA might file for bankruptcy. ...
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Energean firms up agreement with Israel Natural Gas Lines

25 June 2019, 6:48am
Energean has signed a detailed agreement with Israel Natural Gas Lines (INGL) for the transfer of title of the near shore and onshore part of the infrastructure that will deliver gas from the Karish... ...
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Equinor gets consent to use Johan Sverdrup processing platform

25 June 2019, 6:19am
The PSA has given Equinor consent to use the P1 processing platform on the Johan Sverdrup field in the North Sea offshore Norway. ...
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Repsol hires Maersk Valiant drillship for Mexico drilling

25 June 2019, 6:13am
Spanish oil firm Repsol has hired a Maersk Drilling drillship for offshore drilling in Mexico. ...
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Shearwater to shoot seismic over Total’s fields offshore Denmark

25 June 2019, 6:11am
Geoservices company Shearwater GeoServices has been awarded a contract for 4D surveys over Total's Tyra and Roar fields in Denmark.  ...
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Eni, IBM launch new AI-based research platform

25 June 2019, 6:08am
Italian oil major Eni and IBM have launched the Cognitive Discovery research platform following a multiyear collaboration on the use of artificial intelligence (AI). ...
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Aker BP cleared to use Odfjell rig at Skogul field

25 June 2019, 5:34am
Aker BP has been given consent by the Petroleum Safety Authority to use the Deepsea Nordkapp drilling rig for production drilling on the Skogul field offshore Norway.  ...
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OEEC 2019: Digitalization

25 June 2019, 5:18am
Digitalization is key for every operator in optimizing use of both traditional and renewable energy resources and vital to facilitate the transition. What are the lesson learned and what should we be... ...
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Fluor Wins Colombia Turnaround Contract

25 June 2019, 12:00am
Ecopetrol has awarded a consortium including Fluor's Stork unit a plant turnaround services contract.
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Crude Oil Mixed Again Amid Mixed Signals

25 June 2019, 12:00am
For the second consecutive day, "mixed" describes WTI and Brent price movements.
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Aramco Can Keep Crude Flowing if Hormuz Hit

25 June 2019, 12:00am
Aramco has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the chief executive officer of the state-run producer.
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Water Woes Could be a Boon for Pipeline Companies

25 June 2019, 12:00am
Thanks to booming US oil production, pipeline operators may be in the best position to expand into the water-handling business.
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US Oil Production Hits New All Time High

25 June 2019, 12:00am
U.S. crude oil production reached a new all time high of 12.2 million barrels per day in May.
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Oil Steadies as Investors Weigh Mixed Signals

25 June 2019, 12:00am
Oil steadied after rallying almost eight percent in three days as investors weighed mixed signals.
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Occidental Selling APC's Western Stake?

25 June 2019, 12:00am
Occidental is seeking a buyer to take majority control of Western Midstream Partners LP, according to people familiar with the matter.
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OGUK OSA 2019 Nomination Deadline Looms

25 June 2019, 12:00am
Oil & Gas UK has highlighted that the deadline to submit nominations for the 2019 OGUK Offshore Safety Awards will arrive tomorrow.
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Baker Hughes Enters JV to Deploy Artificial Intelligence

25 June 2019, 12:00am
Baker Hughes, a GE Company has entered into a joint venture with Artificial Intelligence software provider C3.ai to accelerate the digital transformation in the oil and gas industry.
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Four states updated their renewable portfolio standards in the first half of 2019

24 June 2019, 1:00pm
As of the end of 2018, 29 states and the District of Columbia had renewable portfolio standards (RPS), or polices that require electricity suppliers to source a certain portion of their electricity from designated renewable resources or eligible technologies. Four states—New Mexico, Washington, Nevada, and Maryland—and the District of Columbia have updated their RPS since the start of 2019.
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Pipeline Company Blue Racer Considers $2.5B IPO

24 June 2019, 12:00am
Blue Racer Midstream, a private equity-backed natural gas pipeline owner, is considering an initial public offering that could be valued at $2.5 billion.
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Crude Oil Starts Week Mixed

24 June 2019, 12:00am
The WTI edged upward while the Brent posted its first loss since June 19.
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Energy products are key inputs to global chemicals industry

21 June 2019, 1:30pm
The industrial sector of the worldwide economy consumed more than half (55%) of all delivered energy in 2018, according to the International Energy Agency. Within the industrial sector, the chemicals industry is one of the largest energy users, accounting for 12% of global industrial energy use. Energy—whether purchased or produced onsite at plants—is very important to the chemicals industry, and it links the chemical industry to many parts of the energy supply chain including utilities, mines, and other energy product manufacturers.
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The Strait of Hormuz is the world's most important oil transit chokepoint

20 June 2019, 1:00pm
The Strait of Hormuz, located between Oman and Iran, connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The Strait of Hormuz is the world's most important oil chokepoint because of the large volumes of oil that flow through the strait. In 2018, its daily oil flow averaged 21 million barrels per day (b/d), or the equivalent of about 21% of global petroleum liquids consumption.
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