Industry News

ExxonMobil, Shell, CNOOC to explore CCS hub potential in China

28 June 2022, 7:31am
ExxonMobil, Shell, CNOOC, and local authorities have agreed to evaluate the potential for a world-scale carbon capture and storage (CCS) project in the Chinese Guangdong Province. The post... ...
Read more... (source: www.offshore-energy.biz)


Eco seals deal to increase stake in block off South Africa

28 June 2022, 7:16am
Eco (Atlantic) Oil & Gas has inked a deal to acquire additional interest in a block located offshore South Africa. The post Eco seals deal to increase stake in block off South Africa appeared... ...
Read more... (source: www.offshore-energy.biz)


Guinea-Conakry Hoping To Unlock O&G Potential With 22 Block Tender

27 June 2022, 7:58pm
Guinea-Conakry's hydrocarbons industry is gathering steam with the tendering of 22 unexplored offshore blocks in its sights.
Read more... (source: www.rigzone.com)


Oil Rises Amid G7 Talks on Capping Russian Crude

27 June 2022, 7:39pm
Oil climbed as investors monitored developments from the gathering of Group of Seven leaders, and two supplier countries flagged potential output cuts due to political unrest.
Read more... (source: www.rigzone.com)


Sound Energy Tags Moroccan Bank To Arrange Tendrara Financing

27 June 2022, 7:00pm
Sound Energy has signed a Mandate letter with Attijariwafa bank of Morocco to arrange the debt financing of the Tendrara Production Concession.
Read more... (source: www.rigzone.com)


Qatar Energy Vows to Erase Almost All Methane Emissions by This Date

27 June 2022, 5:56pm
The Qatari company has signed up to the Aiming for Zero Methane Emissions Initiative.
Read more... (source: www.rigzone.com)


USA Adds 13 Rigs

27 June 2022, 4:55pm
The U.S. added 13 rigs week on week, according to Baker Hughes.
Read more... (source: www.rigzone.com)


Prospex, Warrego Kick Off Solar Generation Project At El Romeral

27 June 2022, 3:32pm
Prospex Energy and Warrego Energy have started the first of two solar diversification projects at the El Romeral power plant in Spain.
Read more... (source: www.rigzone.com)


Targa Sells $1.25B Senior Notes To Fund Lucid Acquisition

27 June 2022, 2:46pm
Targa Resources has priced its $1.25 billion underwritten public offering.
Read more... (source: www.rigzone.com)


Eco Atlantic Increases Stake In Exciting License Off South Africa

27 June 2022, 2:31pm
Eco Atlantic Oil & Gas has signed a farmout agreement for an additional 6.25 percent participating interest in Block 3B/4B, offshore South Africa.
Read more... (source: www.rigzone.com)


Borr Drilling laying the groundwork to divest three rigs for $320 million

27 June 2022, 2:24pm
Borr Drilling has entered into a deal for the sale of three jack-up rigs, which are currently under construction with Keppel FELS. The post Borr Drilling laying the groundwork to divest three rigs... ...
Read more... (source: www.offshore-energy.biz)


Gas Prices Freezing Americans into Staycations

27 June 2022, 1:46pm
Gas prices are freezing a quickly growing number of Americans into staycation mode.
Read more... (source: www.rigzone.com)


Saipem finds buyer for FPSO working off Brazil

27 June 2022, 1:42pm
BW Energy has inked a deal with Saipem to buy an FPSO vessel, which is currently working offshore Brazil for Petrobras. The post Saipem finds buyer for FPSO working off Brazil appeared first on... ...
Read more... (source: www.offshore-energy.biz)


U.S. and EU scaling up efforts to ensure energy security and curb emissions

27 June 2022, 1:16pm
The U. S. and the EU will intensify efforts to ensure energy security and reduce emissions while pursuing diversification of energy supplies. The post U.S. and EU scaling up efforts to ensure energy... ...
Read more... (source: www.offshore-energy.biz)


Equinor cleared to spin the drill bit in Norwegian Sea

27 June 2022, 12:41pm
Equinor has secured a permit from the country’s authorities for the drilling of a wildcat well, located in the Norwegian Sea. The post Equinor cleared to spin the drill bit in Norwegian Sea appeared... ...
Read more... (source: www.offshore-energy.biz)


With energy security and high prices in mind, EU and Norway strengthen ties with new deal

27 June 2022, 12:17pm
The EU has strengthened its energy cooperation with Norway through a new deal, aiming to secure its energy independence from Russia. The post With energy security and high prices in mind, EU and... ...
Read more... (source: www.offshore-energy.biz)


Libya Says It May Suspend Oil Exports from Key Terminals

27 June 2022, 12:12pm
Libya's state oil company said it may suspend exports from the Gulf of Sirte.
Read more... (source: www.rigzone.com)


In Colombia, natural gas consumption has been exceeding production

27 June 2022, 12:00pm
In 2020, when drought resulted in decreased hydroelectric power, Colombia imported 14.2 billion cubic feet (Bcf) of natural gas, which helped the country meet natural gas demand for electricity, according to our recently updated Colombia Country Analysis Brief.
Read more... (source: www.eia.gov)


Analysts Talk Biden Gasoline Tax Holiday

27 June 2022, 11:01am
Analysts at Standard Chartered, RANE and Rystad Energy have their say.
Read more... (source: www.rigzone.com)


Petrobras Clears Sale Of Several Espirito Santo Assets

27 June 2022, 10:17am
Petrobras has approved the sale of its total stake in the maritime concession groups named Golfinho Cluster and Camarupim Cluster to BW Energy.
Read more... (source: www.rigzone.com)


Indonesian vessel owner reveals growth strategy to take advantage of ‘upturn in drilling’

27 June 2022, 10:09am
Wintermar sets the stage to benefit from higher demand in the oil & gas industry while eyeing the offshore wind sector for future growth. The post Indonesian vessel owner reveals growth strategy... ...
Read more... (source: www.offshore-energy.biz)


Cheniere Green Lights FID For Corpus Christi Stage 3 Project

27 June 2022, 9:37am
Cheniere Energy has made a positive Financial Investment Decision concerning the 10+ million tons per annum of LNG Corpus Christi Stage 3 Liquefaction Project.
Read more... (source: www.rigzone.com)


Exxon Considers Developing Hydrogen, Ammonia Production In Norway

27 June 2022, 8:28am
ExxonMobil will study the potential production and distribution of green hydrogen and ammonia for lower-emission marine fuels at its Slagen terminal in Norway.
Read more... (source: www.rigzone.com)


Interim CEO picks up the reins at Petrobras while Bolsonaro’s candidate gets closer to taking over

27 June 2022, 7:30am
Petrobras has appointed an interim CEO, which is expected to spearhead the firm until a new CEO takes over the steering wheel. The post Interim CEO picks up the reins at Petrobras while Bolsonaro’s... ...
Read more... (source: www.offshore-energy.biz)


Australian regulator: Jadestone addressed ‘immediate risk of any further spill’

27 June 2022, 6:32am
After an oil spill led to a production halt at a Jadestone-operated field off Australia, NOPSEMA intends to keep an eye on the situation. The post Australian regulator: Jadestone addressed... ...
Read more... (source: www.offshore-energy.biz)


WTI and Henry Hub Appear Due for a Technical Correction

27 June 2022, 6:15am
One of Rigzone's regular energy prognosticators takes a look at oil and gas price corrections, the peak of the summer driving season and natural gas-fired generation.
Read more... (source: www.rigzone.com)


G7 Weighs Russia Oil Price Cap

27 June 2022, 6:00am
Group of Seven nations are discussing a cap on the price of Russian oil.
Read more... (source: www.rigzone.com)


Qantas Slashes Flights in Australia as Oil Prices Bite

26 June 2022, 2:15pm
Flying in Australia from July to September will be cut by 15 percent.
Read more... (source: www.rigzone.com)


Top Headlines: USA Navy and Iran Corps Clash in Strait of Hormuz and More

25 June 2022, 11:23am
Check out some of Rigzone's top stories during the last week.
Read more... (source: www.rigzone.com)


Oil Posts Back to Back Weekly Loss on Recession Fears

24 June 2022, 8:38pm
Oil posted its first back-to-back weekly loss since early April as fears of a demand-sapping global recession and tighter US monetary policy ripped through commodity markets to spur a broad sell-off.
Read more... (source: www.rigzone.com)


Coretrax Completes Expandable Technology Project In USA

24 June 2022, 7:00pm
Coretrax has completed a world record-breaking project in the Utica Basin, Northeast America, for a major gas operator with its ReLine Expandable Technology.
Read more... (source: www.rigzone.com)


EIA estimates show a decrease in global surplus crude oil production capacity in 2022

24 June 2022, 12:00pm
Our new report, titled Global Surplus Crude Oil Production Capacity, provides estimates of global surplus crude oil production capacity in both OPEC countries and non-OPEC countries. Preliminary estimates for these data show that, as of May 2022, surplus capacity in non-OPEC countries decreased by 80% compared with 2021. The data show that, in 2021, 1.4 million barrels per day (b/d) of surplus production capacity was available in non-OPEC countries, about 60% of which was in Russia. As of May 2022, we estimate that all surplus production capacity in Russia was eliminated due to the sanctions implemented after Russia's full-scale invasion of Ukraine. We determined that excess oil production capacity declined in other non-OPEC producing countries as well. We estimate that, as of May 2022, producers in non-OPEC countries had about 280,000 b/d of surplus production capacity.
Read more... (source: www.eia.gov)


Fire causes shutdown of Freeport liquefied natural gas export terminal

23 June 2022, 12:00pm
On June 8, 2022, a fire at Freeport LNG's natural gas liquefaction plant on the Gulf Coast in South Texas led to the full shutdown of the facility. The shutdown of Freeport LNG will reduce total U.S. liquefied natural gas (LNG) export capacity by approximately 2 billion cubic feet per day (Bcf/d), or 17% of total U.S. LNG export capacity.
Read more... (source: www.eia.gov)


Two new U.S. crude oil pipeline projects have been completed this year

22 June 2022, 12:00pm
As of June 3, 2022, pipeline companies completed two crude oil pipeline projects in the United States, according to our recently updated Liquids Pipeline Projects Database. No new hydrocarbon gas liquids or petroleum product pipeline projects were completed in the first five months of 2022.
Read more... (source: www.eia.gov)


EIA expects nine new Gulf of Mexico natural gas and crude oil fields to start in 2022

21 June 2022, 12:00pm
In our June 2022 Short-Term Energy Outlook (STEO), we forecast that new fields coming online in 2022 will account for 5% of natural gas production and 14% of crude oil production in the U.S. Federal Offshore Gulf of Mexico (GOM) by the end of 2023. We expect that GOM natural gas production will average 2.1 billion cubic feet per day (Bcf/d) in 2023, down 0.1 Bcf/d from 2022. We expect that GOM crude oil production will average 1.8 million barrels per day (MMb/d) in 2023, about the same as in 2022. Currently, no GOM fields are scheduled to start up in 2023.
Read more... (source: www.eia.gov)


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