Industry News

U.S. South China Sea bill targets Chinese oil, drilling, dredging companies

27 May 2019, 12:36pm
Chinese oil, shipping, telecom, dredging, and offshore drilling companies are facing a threat of U.S. sanctions if a South China Sea bill introduced last Thursday by several U.S. senators is enacted. ...
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Bumi Armada sees 1Q profit rise despite revenue decline

27 May 2019, 9:41am
Malaysian OSV and FPSO leasing company Bumi Armada has posted a rise in net profit for the first quarter of 2019. ...
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McDermott bags another North Field award in Qatar

27 May 2019, 8:56am
Qatar Petroleum has awarded the FEED contract for the North Field Expansion Project’s offshore pipelines and topsides facilities to McDermott. ...
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Royal IHC launches Subsea 7’s new reel-lay vessel Seven Vega

27 May 2019, 8:35am
Subsea 7 and Royal IHC launched the fully integrated reel-lay vessel Seven Vega on Saturday, May 25, 2019.  ...
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Equinor gets OK for North Sea well drilling

27 May 2019, 8:30am
Equinor has been given a drilling permit by the Norwegian Petroleum Directorate for the exploration well 16/5-7 in the North Sea, offshore Norway. ...
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BP hires Vroon ERRVs for work in Trinidad and Tobago

27 May 2019, 8:20am
BP Trinidad and Tobago has hired three emergency rescue and response vessels (ERRVs) from offshore support vessel provider Vroon. ...
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SeaBird in final agreement for BOA vessel duo buy

27 May 2019, 8:12am
Seismic players SeaBird Exploration has signed final agreements to buy the BOA Thalassa and BOA Galatea vessels. ...
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World’s largest semi-submersible crane vessel completed

27 May 2019, 6:19am
Singapore's Sembcorp Marine has launched the world’s largest semi-submersible crane vessel – the Sleipnir. ...
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Golden Energy takes delivery of second offshore support vessel from Chinese shipbuilder

27 May 2019, 6:07am
Golden Energy Offshore Services has taken delivery of the second offshore support vessel of PX121H design from China's Nantong Rainbow Offshore & Engineering Equipment. ...
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No change in U.S. offshore rig count

27 May 2019, 6:00am
The U.S. weekly offshore rig count remained unchanged over the course of last week. ...
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Edda Accommodation boss retires

27 May 2019, 5:28am
Chief executive officer of Edda Accommodation and former CEO of Norwegian shipping company Østensjø Rederi has retired from his role in the company. ...
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Safety audit finds room for improvement on Johan Castberg FPSO

27 May 2019, 5:04am
The PSA has found irregularities during an audit of Equinor's design and fabrication of the hull and living quarters for the Johan Castberg FPSO. ...
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Oil Holds Gain

27 May 2019, 12:00am
Oil held gains above $58 a barrel after American explorers reduced drilling activity to the least in more than a year.
Read more... (source: www.rigzone.com)


Predictive Maintenance Importance Increases

27 May 2019, 12:00am
The importance of predictive maintenance has increased in oil and gas operations, according to GlobalData.
Read more... (source: www.rigzone.com)


Schlumberger Suffers Credit Hit

27 May 2019, 12:00am
Schlumberger had its debt rating lowered by S&P Global Inc.
Read more... (source: www.rigzone.com)


Popular news, May 20 – 26, 2019

26 May 2019, 6:00am
Offshore Energy Today's most popular news of the past week. ...
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Baker Hughes: Canada adds 15 rigs for the week

24 May 2019, 5:34pm
Canada has added 15 rigs for the week ended May 24, according to Baker Hughes data. With 78 rigs running, the count is slightly less than the 81 units drilling this week a year ago. The number of oil-directed rigs in Canada increased by 16, bringing the count to 38 rigs for the week. Gas-directed rigs were down a single unit to 40.
Read more... (source: www.ogj.com)


Dual-target, Mol Norge-operated well comes up dry

24 May 2019, 4:42pm
Mol Norge will plug exploration well 3/7-11 S, which was targeting the Vinstra and Otta prospects in PL539 in the North Sea. Both targets were dry, reported partner Lundin Norway AS. The well was drilled by the Rowan Viking jack up rig 7 km southwest of Trym field on the eastern side of the Mangal High, 2 km north of the border with Denmark in 66 m of water.
Read more... (source: www.ogj.com)


Collaboration needed to meet Mexico’s hydrocarbon ambitions

24 May 2019, 3:08pm
While there hasn’t been a dramatic change for the energy industry in Mexico since President Andres Manuel Lopez Obrador took office in 2018, progressive collaboration between the industry and country regulators is needed to fulfill the country’s hydrocarbon ambitions.
Read more... (source: www.ogj.com)


Novatek acquires five Krasnoyarsk licenses

24 May 2019, 2:59pm
Units of Novatek have acquired exploratory licenses for five areas on the Gydan Peninsula in Krasnoyarsk, Russia.
Read more... (source: www.ogj.com)


MARKET WATCH: Oil prices tumble after US-China news

24 May 2019, 2:55pm
Light, sweet crude oil contracts for July and August plunged by more than $3.50/bbl on May 23, marking the sharpest single-session drop since Dec. 24, 2018, and the lowest settlement since Mar. 12. Brent crude oil prices also fell more than a $3/bbl on the London market with the July contract settling under $68/bbl. Analysts attributed the steep benchmark price drops on US-China trade relations as well as rising US oil supplies.
Read more... (source: www.ogj.com)


Seadrill sees increased contracting activity in deepwater market

24 May 2019, 2:00pm
Offshore drilling contractor Seadrill has posted a quarterly loss but says it sees improvement in deepwater drilling contracting activity. The company has also revealed it has secured more work for... ...
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New pipeline transports first oil from Shell’s Appomattox

24 May 2019, 1:48pm
Systems owned by Proteus Oil Pipeline Company and Endymion Oil Pipeline Company increased volumes of crude oil from the startup of the Shell-operated Appomattox floating production system via the... ...
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U.S. gasoline prices this Memorial Day weekend are nearly the same as last year’s

24 May 2019, 1:00pm
Heading into the 2019 Memorial Day weekend, regular gasoline prices averaged $2.85 per gallon (gal) nationally on May 20, slightly lower than last year’s price of $2.92/gal before the holiday weekend.
Read more... (source: www.eia.gov)


OKEA sets IPO terms

24 May 2019, 12:25pm
Norwegian oil and gas company OKEA has set the terms for its previously proposed Initial Public Offering of shares on the Oslo Stock Exchange. ...
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Subsea 7 ready for newbuild reel-lay vessel launch

24 May 2019, 9:34am
UK-based subsea engineering, construction, and services company Subsea 7 is ready for a launch and official naming ceremony for its newbuild reel-lay vessel Seven Vega.  Subsea 7 announced through... ...
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Gulf Marine Services names new CFO

24 May 2019, 8:40am
The new CFO has previously worked for TAQA and Shell ...
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MOL Norge drills duster in North Sea

24 May 2019, 8:24am
MOL Norge has completed exploration well 3/7-11 S, targeting the Vinstra and Otta prospects in PL539 in the North Sea. Both targets were dry. ...
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Soco looking at M&A opportunities. Vietnam output in line with guidance

24 May 2019, 7:23am
Soco International, an oil company focused on Vietnam, and as of recently on Egypt, has said its production for the 1Q was in line with expectations. It has also said it is looking at potential... ...
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Roc Oil employs Dayang on Sarawak drilling campaign

24 May 2019, 7:09am
Dayang Enterprise has been awarded a four-year contract by Australia's Roc Oil for the provision of services on the company's Sarawak drilling campaign.  ...
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SeaBird in new 2D survey for Wintershall Dea

24 May 2019, 6:23am
SeaBird Exploration has been awarded a contract by Wintershall Dea for 2D acquisition in the Norwegian Sea. ...
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Romania: OMV Petrom to decommission Gloria platform

24 May 2019, 6:20am
The Gloria platform is the first offshore drilling platform in Romania. ...
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Neptune Marine wraps up survey campaigns for Oil Search

24 May 2019, 6:00am
Neptune Marine Services has recently completed several survey, maintenance and construction campaigns for Oil Search at its offshore facilities in Papua New Guinea. ...
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IOG picks new independent non-executive director

24 May 2019, 5:59am
Independent Oil and Gas, a development and production focused oil and gas company, has appointed a new independent non-executive director. ...
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Russia’s Lukoil talks cooperation with Republic of Congo president

24 May 2019, 5:58am
President of Russian oil and gas company Lukoil​ has discussed prospects for bilateral cooperation with the president of the Republic of the Congo. ...
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Aminex CEO steps down due to health reasons

24 May 2019, 5:56am
The chief executive officer (CEO) and director of oil and gas production and development company Aminex has decided to step down from his role in the company. ...
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Exxon, Others Leading High-Impact Drilling Rebound

24 May 2019, 12:00am
High-impact drilling is rebounding amid a changing competitive landscape.
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Oil Slumps to Worst Weekly Loss of Year

24 May 2019, 12:00am
Futures in New York rebounded somewhat on Friday but still ended the week down 6.6 percent.
Read more... (source: www.rigzone.com)


Producing More with Less Cash and a Flat Rig Count

24 May 2019, 12:00am
Senior economist for the Dallas Fed shares how oil and gas companies can spend less money, keep the rig count flat and grow production.
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US Drillers Drop Five Rigs

24 May 2019, 12:00am
The U.S. dropped five oil rigs and gained one gas rig for a net loss of four rigs this week.
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Activist Investors Push for Change at PDC Energy

24 May 2019, 12:00am
U.S. shale producers that have reined in growth plans to mollify investors are facing more pressure to slash their own pay and gut bloated offices.
Read more... (source: www.rigzone.com)


Pemex Says Mexico Plans $7.3B in Tax Breaks

24 May 2019, 12:00am
Mexico is seeking as much as $7.3 billion worth of tax breaks for Petroleos Mexicanos in 2020 and 2021, according to a document sent to Bloomberg.
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IOG Appoints Ex-ConocoPhillips Manager

24 May 2019, 12:00am
Independent Oil and Gas announces the appointment of Neil Hawkings as an independent non-executive director of the company.
Read more... (source: www.rigzone.com)


Supply Risks More Material than Demand Risks

24 May 2019, 12:00am
Jefferies is maintaining that negative supply side risks are more material than perceived demand risks.
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Oil Set for Biggest Weekly Drop of 2019

24 May 2019, 12:00am
Oil headed for its biggest weekly drop since December as the rapidly escalating trade war caused investors to reassess the outlook for global growth.
Read more... (source: www.rigzone.com)


New Jobs at Delek Refinery to Pay $90,000 on Average

24 May 2019, 12:00am
Delek US Holdings plans more enhancements to its refinery in Krotz Springs, La.
Read more... (source: www.rigzone.com)


Trump Sparks Oil Rally Then Rout

24 May 2019, 12:00am
At the heart of both price moves is the foreign and economic policy of Donald Trump.
Read more... (source: www.rigzone.com)


Zarubezhneft gets 30% of area off Vietnam

23 May 2019, 6:16pm
Zarubezhneft JSC, Moscow, received a 30% participating interest in the production sharing agreement for Block 09-2/09 in the Cuu Long basin offshore Vietnam under one of several agreements signed during meetings among leaders of the Russian and Vietnamese governments.
Read more... (source: www.ogj.com)


Ironbark permit title transfer to BP group approved

23 May 2019, 4:37pm
The title transfer for the Ironbark offshore gas prospect off Western Australia to the new BP Development Australia Pty Ltd.-led exploration joint venture has been approved, paving the way for the drilling program, said Melbourne-based Cue Energy Ltd. 
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June presentation will outline offshore Cuba licensing

23 May 2019, 4:04pm
Blocks will be offered offshore in Cuba’s economic exclusive zone in the Gulf of Mexico, said state-owned Union Cuba-Petroleo Co. (CUPET), which is helping promote the licensing round with roadshow presentations and data viewing in London in early June.
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Appomattox field comes on stream in GOM

23 May 2019, 2:59pm
Appomattox field in the US Gulf of Mexico started production ahead of schedule in the deepwater Gulf of Mexico about 80 miles offshore Louisiana. Shell Offshore Inc. operates the field in 7,200 ft of water.
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CNR keeping Teekay’s Petrojarl Banff FPSO for another year

23 May 2019, 1:39pm
Canadian Natural Resources has extended the charter of Teekay's Petrojarl Banff FPSO in the UK North Sea. ...
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California gasoline prices increase following refinery outages and declining inventories

23 May 2019, 1:00pm
In early May, the California retail gasoline price averaged $4.01 per gallon (gal), surpassing the $4/gal mark for the first time since 2014. By comparison, the U.S. retail gasoline price averaged $2.90/gal. Much of the recent increase in California’s gasoline prices is attributable to refinery outages—both planned and unplanned—and falling gasoline inventories in the region
Read more... (source: www.eia.gov)


Shell starts oil production from Appomattox field

23 May 2019, 12:35pm
Appomattox has realized cost reductions of more than 40% since taking the final investment decision in 2015. ...
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Nigeria: Another short extension for Yinson FPSO as talks for longer tenure continue

23 May 2019, 12:26pm
Malaysian FPSO supplier Yinson has yet to secure a long-term contract extension for its Adoon FPSO moored at Block OML 123 in Nigeria. ...
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Oil Prices Plunge

23 May 2019, 12:00am
The WTI and Brent contract prices settled below $60 and $70, respectively.
Read more... (source: www.rigzone.com)


KBR Wins Algeria Contract

23 May 2019, 12:00am
Sonatrach and Cepsa have awarded KBR a contract tied to their RKR redevelopment in Algeria.
Read more... (source: www.rigzone.com)


Shell Opens New GOM Frontier

23 May 2019, 12:00am
Shell's Appomattox platform. SOURCE: PR Newswire
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Obscure Cypriot Plots $10B East Med Gas Bet

23 May 2019, 12:00am
A little-known investor group is planning a major shakeup of the Eastern Mediterranean natural gas industry.
Read more... (source: www.rigzone.com)


Guyana Investigating Offshore Oil Leases

23 May 2019, 12:00am
Guyana's anti-corruption agency is investigating how some exploration rights were awarded in the world's biggest new deepwater oil region.
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Select US Drilling Rights Sell for $1.50 Per Acre

23 May 2019, 12:00am
From 2017 to 2018, the number of acres sold non-competitively more than doubled, from roughly 141,000 to nearly 379,000.
Read more... (source: www.rigzone.com)


Wintershall Dea installs Nova templates

22 May 2019, 5:34pm
Wintershall Dea has installed the two subsea templates anchoring development of Nova oil field in the Norwegian North Sea. The Subsea 7 Seven Arctic vessel transported the 300-tonne units 45 km from Floro, Norway, to the field and lifted them by crane into 370 m of water. Aker Solutions built the templates at Egersund, Norway.
Read more... (source: www.ogj.com)


BHP considers conventional oil attractive for decades

22 May 2019, 3:57pm
BHP said its conventional oil assets look to be attractive investments “for several decades,” particularly its holdings offshore Mexico and offshore eastern Canada. During an operations update, BHP executives said the company expects to spud an appraisal well on Trion in late December with earliest production expected in the mid 2020s. BHP is the operator with 60% interest.
Read more... (source: www.ogj.com)


Dana Gas spuds Merak-1 wildcat off Egypt

22 May 2019, 3:51pm
Dana Gas PJSC, Sharjah, has spudded a deepwater wildcat on its North El Arish concession area offshore Egypt. The company says the Merak-1 well is on one of three prospects it describes as “world class” in the area, also known as Block 6.
Read more... (source: www.ogj.com)


Vintage farms in to Queensland Cooper basin permit

22 May 2019, 3:43pm
Vintage Energy Ltd., Adelaide, has agreed to farm in to a 50% interest in Sydney-based Metgasco’s Queensland exploration permit ATP 2021 in the Cooper basin. Vintage will earn its share and take over as operator by paying a substantial share of future drilling and development costs as well as reimbursing Metgasco’s costs to date.
Read more... (source: www.ogj.com)


APLNG okay to buy Ironbark CSG project

22 May 2019, 3:12pm
The Origin Energy-operated Australia Pacific LNG group has obtained permission to acquire Origin’s undeveloped Ironbark coal seam gas project in permit ATP 788P in Queensland. The Australian Competition and Consumer Commission said it would not oppose the transaction, first mooted by Origin in February with a sale price of $231 million (Aus.).
Read more... (source: www.ogj.com)


MARKET WATCH: NYMEX oil price hovers at $63/bbl

22 May 2019, 2:43pm
Light, sweet crude oil prices fell slightly May 21 as the contract continues to hover at $63/bbl on the New York market while Brent crude oil prices gained modestly with the July contract settling above $72/bbl.
Read more... (source: www.ogj.com)


Con Edison limits natural gas service due to pipeline constraints into New York City area

22 May 2019, 1:00pm
In January 2019, Consolidated Edison, Inc., (Con Edison)—the largest utility provider in the New York City area, serving 10 million customers—announced a moratorium on new natural gas connections in most of Westchester County, effective March 16. Demand for natural gas in the New York City area has increased in recent years, leading to concerns about reliability of service. Con Edison claimed it cannot guarantee uninterrupted service to new natural gas connections. Between the announcement of the moratorium and its start on March 16, Con Edison received 1,600 applications for firm natural gas service in the moratorium area. Customers on firm natural gas service contracts have delivery priority above those on interruptible contracts.
Read more... (source: www.eia.gov)


Oil from US shale on track to rise 16% in 2019

21 May 2019, 3:54pm
US shale operators are on course to increase oil production markedly in 2019. The growth in US onshore production from the first quarter through the fourth quarter could come in at around 1.1-1.2 million b/d, or 16% for the full year, according to Rystad Energy.
Read more... (source: www.ogj.com)


Eni group awarded block off Argentina

21 May 2019, 3:46pm
Eni SPA has joined the list of international oil and gas companies awarded licenses in Argentina’s recent bid round. The company leads a group that will shoot a 3D geophysical survey across Block MLO 124 and conduct other geophysical surveys.
Read more... (source: www.ogj.com)


Shell Australia approved for Bratwurst-1 wildcat

21 May 2019, 3:13pm
Shell Australia has been granted approval from the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) for the drilling of proposed wildcat Bratwurst-1 in Ashmore Cartier permit AC/P64 in the Browse basin off Western Australia.
Read more... (source: www.ogj.com)


MARKET WATCH: Crude oil prices mixed on geopolitics

21 May 2019, 2:29pm
Oil prices gained modestly on the New York market May 20, settling above $63/bbl while Brent crude oil prices in London fell slightly to settle under $72/bbl. Light, sweet oil prices rose to their highest level in nearly 3 weeks on May 20, which analysts attributed to US-Iran tensions and major crude producers, including Saudi Arabia, suggesting they might keep existing production-cut targets until Dec. 31.
Read more... (source: www.ogj.com)


Nonpowered dams can be converted to hydroelectric dams for electricity generation

21 May 2019, 1:00pm
According to EIA's most recent electric generator inventory, 32 dams that currently do not generate electricity are planned to be converted to hydroelectric dams, which will add more than 330 megawatts (MW) of electric generating capacity to the grid over the next several years.
Read more... (source: www.eia.gov)


Gazprom has two offshore Yamal gas finds

20 May 2019, 5:42pm
Gazprom said it has discovered more than 500 billion cu m of natural gas in two fields offshore the Yamal Peninsula in the Russian Arctic.
Read more... (source: www.ogj.com)


Inpex shuffle eyes exploration, projects

20 May 2019, 5:16pm
Inpex Corp., Tokyo, has reorganized “to reinforce oil and gas exploration and mergers and acquisitions capabilities” and to strengthen project execution.
Read more... (source: www.ogj.com)


Bitumen feed delayed for Alberta refinery

20 May 2019, 4:35pm
North West Redwater Partnership (NWRP) has delayed introduction of bitumen feed from Alberta’s oil sands at the first 80,000-b/d phase of its proposed three-phased greenfield bitumen refinery in Sturgeon County, about 45 km northeast of Edmonton, Alta.
Read more... (source: www.ogj.com)


PGNiG drills production well in Pakistan’s Rehman field

20 May 2019, 3:59pm
PGNiG SA has spudded the Rehman-6 production well on the western part of Rehman field in Pakistan to develop tight gas in a Cretaceous sandstone formation. Crews plan to drill to 2,700 m. PGNiG Pres. Piotr Wozniak said the company plans to drill four wells and put three of them on stream, including Rehman-6, during 2019.
Read more... (source: www.ogj.com)


NOPSEMA extends ruling time on GAB exploration

20 May 2019, 3:45pm
Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has told Norwegian company Equinor Australia BV that it needs more time to decide about Equinor’s environmental plan for the proposed exploration drilling program in the South Australian section of the Great Australian Bight (GAB).
Read more... (source: www.ogj.com)


MARKET WATCH: Oil benchmarks drop ahead of OPEC committee meeting

20 May 2019, 2:37pm
Oil prices dropped on both the New York and London markets May 17, ending three sessions of gains. Analysts attributed the price drop to heightened US-Iran tensions and rising concerns about possible disruptions to oil shipments across the Middle East.
Read more... (source: www.ogj.com)


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