Industry News

African Petroleum, PetroNor to merge next week as final hurdle cleared

23 August 2019, 1:39pm
African Petroleum has crossed the final hurdle ahead of its proposed merger ...
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The United States tends to produce lighter crude oil and import heavier crude oil

23 August 2019, 1:00pm
In 2018, total U.S. crude oil production grew by 17%, led by increased production of relatively light, less dense crude oil. The increase in light crude oil production is largely the result of the growth in crude oil production from shale and tight rock formations, which are now more accessible because of improvements in horizontal drilling and hydraulic fracturing.
Read more... (source: www.eia.gov)


Sanders’ $16.3 trillion climate plan takes on oil industry. Ban planned for oil exploration, exports

23 August 2019, 12:56pm
U.S. presidential candidate Bernie Sanders promises to “take on the fossil fuel industry.” ...
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Maersk Drilling expects further rise in demand for hi-spec jack-ups

23 August 2019, 10:31am
Maersk Drilling continues to expect improvements in utilization and day rates longer term ...
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Tullow to spud Joe-1 well off Guyana ‘in the coming days’

23 August 2019, 9:13am
Following a recent oil discovery at the Jethro well, offshore Guyana, oil firm Tullow is set to spud the second well, Joe-1, within days. ...
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Rosneft keen on expanding Mozambique portfolio, CEO Sechin says

23 August 2019, 8:32am
Russian oil and gas giant Rosneft is looking at potentially expanding its foothold in gas-rich Mozambique. ...
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Aker Energy takes more time for Dhirubhai-1 FPSO decision

23 August 2019, 7:49am
Dhirubhai-1 FPSO still waiting in Sri Lanka ...
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GMS CEO quits after guidance reset

23 August 2019, 7:12am
Offshore oilfield contractor Gulf Marine Services' (GMS) chief executive officer Duncan Anderson has resigned as the company now expects lower 2019 earnings compared to 2018. ...
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Jersey wins another block in Buchan area

23 August 2019, 6:44am
First oil, subject to funding, is targeted for 2024. ...
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Half of Venezuela's Oil Rigs May Shut Down If US Waivers Lapse

23 August 2019, 12:00am
A looming U.S. sanctions deadline is threatening to clobber Venezuela's dwindling oil-rig fleet and hamper energy production in the nation with the world's largest crude reserves.
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Texas Driller Sues US to Get Visa for Big-Game Hunter

23 August 2019, 12:00am
Matador Resources Co. is suing U.S. immigration authorities to give the oil driller's $110,00-a-year big-game hunting expert a visa.
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‘Modest’ Gulf of Mexico lease sale attracts $159M in bids

22 August 2019, 1:49pm
The lease sale has attracted $159,4 million in high bids, a result described as "somewhat modest," by NOIA. ...
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Equinor gets $256M for wind farm aimed at powering offshore oil fields

22 August 2019, 1:02pm
Enova has awarded Equinor up to NOK 2.3 billion ($256,59 million) grant to support the development of a floating offshore wind farm ...
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EIA offers two approaches to compare renewable electricity generation with other sources

22 August 2019, 1:00pm
The share of electricity generation from noncombustible renewable energy sources—solar, wind, hydro, and geothermal—for power generation is increasing. To compare the energy consumption for electricity from noncombustible renewable sources with other energy sources, the U.S. Energy Information Administration (EIA) offers two approaches: the fossil fuel equivalence approach and the captured energy approach. The choice of approach may serve different analytical or statistical needs.
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LTHE to deliver 28 jackets for Saudi offshore oil fields

22 August 2019, 12:23pm
Jackets will be delivered for Marjan, Sfaniya, and Ribyan offshore fields. ...
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Premier looking to farm-down stake in Sea Lion oil project

22 August 2019, 11:24am
Premier Oil is looking for a farm-out partner for its Sea Lion offshore oil development in the Falklands Islands.  ...
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Shearwater wraps survey over Shell’s Pensacola prospect

22 August 2019, 10:00am
Decision on well commitment is expected to be taken in the second half of 2020. ...
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Hibernia platform production still shut after latest spill. Regulator launches probe

22 August 2019, 9:23am
The sheen from the latest spill is reported to have dissipated. ...
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Equinor granted Gladsheim well drilling permit

22 August 2019, 8:37am
Equinor has received a drilling permit for an offshore exploration well to be drilled in the North Sea. ...
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Ex-Schlumberger CEO to become Borr Drilling chairman

22 August 2019, 7:30am
Ex-Schlumberger CEO to become Borr Drilling chairman ...
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i3 spuds Liberator pilot well

22 August 2019, 6:51am
i3 Energy has started drilling a pilot well at its Liberator field in the UK North Sea using the Borgland Dolphin semi-submersible drilling rig. ...
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TechnipFMC in ‘significant’ PowerNap project award

22 August 2019, 6:31am
TechnipFMC will be supplying subsea equipment for Shell's PowerNap subsea tie-back development ...
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Shell Subsea Contract Goes to TechnipFMC

22 August 2019, 12:00am
PowerNap will be a subsea tie-back to the Shell-operated Olympus production hub.
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Drillinginfo Changes its Name to Enverus

22 August 2019, 12:00am
Drillinginfo has changed its name to Enverus in order to better reflects the company's identity.
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US Oil and Gas Merger Deals Hit $9.8B in July

22 August 2019, 12:00am
$9.89 billion worth of oil and gas industry merger and acquisition deals were announced in the United States last month.
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Foreign Oil Firms Are Bailing on Canada

22 August 2019, 12:00am
Capital keeps marching out of Canada's oil industry.
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3Q is Key for 2019 Oil Balance

22 August 2019, 12:00am
The current quarter will be key in shaping the oil supply and demand balances for 2019, according to the latest outlooks from the world's three major oil-forecasting agencies.
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Trump Admin to Meet to Discuss Biofuels Fallout

22 August 2019, 12:00am
Top Trump administration officials will meet to consider options for quelling a backlash in politically important farm states over recent biofuel policy moves.
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Oil Steadies as Focus Turns to Monetary Easing

22 August 2019, 12:00am
Oil steadied as attention turned from expanding American fuel stockpiles to the prospects for monetary easing.
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Oil Prices Falter Before Jackson Hole Speech

22 August 2019, 12:00am
WTI and Brent futures posted losses Thursday.
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Zohr Output Hits 2.7 Billion Cubic Feet Per Day

22 August 2019, 12:00am
Production from the Zohr field offshore Egypt has now reached more than 2.7 billion cubic feet per day.
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$50 Oil Threatens Future Subsea Growth

22 August 2019, 12:00am
2019 will mark the first time since 2014 the subsea market will have year-on-year growth, but declining oil prices could threaten this growth, according to Rystad Energy.
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Petrofac clinches three-year Forties contract with Ineos

21 August 2019, 1:40pm
UK's oilfield services provider Petrofac has won a three-year contract from Ineos FPS for operations & maintenance support services. ...
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EIA launches redesigned Hourly Electric Grid Monitor with new data and functionality

21 August 2019, 1:00pm
Today, the U.S. Energy Information Administration (EIA) launches a beta release of its new Hourly Electric Grid Monitor, a redesigned and enhanced version of EIA’s existing U.S. Electric System Operating Data website. The Hourly Electric Grid Monitor incorporates two new data elements: hourly electricity generation by energy source and hourly subregional demand for certain balancing authorities in the Lower 48 states. The new website also provides new and more flexible options for visualizing the data and allows users to create custom dashboards that can be saved and shared.
Read more... (source: www.eia.gov)


ADNOC orders casing and tubing for $3.6B

21 August 2019, 12:53pm
Abu Dhabi’s national oil firm ADNOC has awarded $3.6 billion worth of contracts to Vallourec, Tenaris, and Marubeni subsidiaries. ...
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Update: Zohr gas production to reach 3.2 bcfd target by 2019 end

21 August 2019, 11:58am
Egypt expects to boost production from the giant Zohr offshore field in the Mediterranean to 3.2 bcfd by the end of the year ...
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Mubadala wraps up Manora development drilling

21 August 2019, 8:58am
Mubadala Petroleum has completed the three-well development drilling program at its Manora field in the Gulf of Thailand. ...
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Sparrow lands UK North Sea deck services gig with BP

21 August 2019, 8:16am
Sparrows Group has won its first contract with BP for deck operation services in the UK North Sea. ...
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BPC to use Seadrill rig for Bahamas drilling. Might do it without farm-in partner

21 August 2019, 7:53am
Bahamas Petroleum Company has entered into a framework agreement with drilling contractor Seadrill, setting the terms for the potential use of Seadrill’s drilling rig for its first exploration well... ...
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Aker Solutions bags first subsea umbilical order in UAE

21 August 2019, 7:25am
Abu Dhabi National Oil Company (ADNOC) has ordered subsea umbilicals for Aker Solutions for its Dalma gas development project off UAE. ...
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Equinor to acquire rights in YPF’s CAN 100 block off Argentina

21 August 2019, 6:23am
Norwegian oil company Equinor has entered an offshore exploration partnership with Argentina's YPF for work in the CAN 100 block. ...
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US Fracking Sector Disappoints in 2Q

21 August 2019, 12:00am
A review of 29 fracking-focused oil and gas companies revealed 'meager' cash returns in the second quarter of 2019.
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Sputnik Has High Chance of Commerciality

21 August 2019, 12:00am
Equinor's recent Sputnik discovery has a 'high chance' of commerciality, according to Wood Mackenzie.
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Alberta Extends Oil Output Cuts to End of 2020

21 August 2019, 12:00am
Canada's oil-rich province of Alberta is extending its output cuts by a year as delays to key pipelines threaten to prolong a glut of crude in the region.
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Iran Oil Tanker Makes Distress Call

21 August 2019, 12:00am
The Iranian oil carrier Helm experienced technical issues in the Red Sea off the Saudi port of Yanbu and the crew is working to resolve the issues, according to the National Iranian Tanker Co.
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Oil Prices Mixed at Midweek

21 August 2019, 12:00am
Brent crude finished higher for the fourth consecutive trading day while the WTI faltered.
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BHP Delivers Largest Bid in US Gulf of Mexico Lease Sale

21 August 2019, 12:00am
Lease Sale 253 generated almost $159.4 million in high bids for 151 tracts in the U.S. Gulf of Mexico.
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Pembina to Buy Kinder Morgan Oil Assets

21 August 2019, 12:00am
Pembina Pipeline Corp. agreed to buy Kinder Morgan Inc.'s Canadian unit and the U.S. portion of the Cochin Pipeline system for about $3.3 billion.
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$3.6B ADNOC Contracts Go to Tenaris, Others

21 August 2019, 12:00am
ADNOC awards contracts for casing and tubing.
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Woodmac sees Sputnik oil find developed as Wisting satellite

20 August 2019, 1:58pm
Equinor's Sputnik oil discovery in the Barents Sea might still be commercial despite being small and remote, Wood Mackenzie said Tuesday. ...
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Hilcorp’s Cook Inlet survey plan approved

20 August 2019, 1:21pm
The survey will involve one seismic acquisition vessel and two support vessels. ...
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The U.S. leads global petroleum and natural gas production with record growth in 2018

20 August 2019, 1:00pm
U.S. petroleum and natural gas production increased by 16% and by 12%, respectively, in 2018, and these totals combined established a new production record. The United States surpassed Russia in 2011 to become the world's largest producer of natural gas and surpassed Saudi Arabia in 2018 to become the world's largest producer of petroleum. Last year’s increase in the United States was one of the largest absolute petroleum and natural gas production increases from a single country in history.
Read more... (source: www.eia.gov)


ExxonMobil pays $40,000 fine for near miss incident off Nova Scotia

20 August 2019, 12:24pm
ExxonMobil has been fined $40,000 for a potentially fatal near-miss incident that happened in November 2018 aboard a jack-up rig offshore Nova Scotia Canada. ...
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Subsea 7 invites engineers to transfer skills to offshore oil & gas

20 August 2019, 10:37am
The engineering conversion program offers a mix of on the job and classroom-based training ...
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Natural gas deliveries to U.S. LNG export facilities set a record in July

19 August 2019, 1:00pm
Natural gas deliveries to U.S. facilities producing liquefied natural gas (LNG) for export set a monthly record in July 2019, averaging 6.0 billion cubic feet per day (Bcf/d)—7% of the total U.S. dry natural gas production—according to data from OPIS PointLogic Energy. In the first seven months of 2019, natural gas feedstock deliveries to LNG export facilities have been the fastest growing among all U.S. natural gas consumption sectors.
Read more... (source: www.eia.gov)


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