Industry News

Iran drives unplanned OPEC crude oil production outage to highest levels since late 2015

17 July 2019, 1:00pm
Unplanned crude oil production outages for the Organization of the Petroleum Exporting Countries (OPEC) averaged 2.5 million barrels per day (b/d) in the first half of 2019, the highest six-month average since the end of 2015. EIA estimates that in June, Iran alone accounted for more than 60% (1.7 million b/d) of all OPEC unplanned outages.
Read more... (source: www.eia.gov)


Anasuria Hibiscus buying UOG’s North Sea blocks

17 July 2019, 10:41am
The blocks include the Crown Discovery, initially discovered by ConocoPhillips in 1998. ...
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Premier prepares for Tolmount East appraisal well spud

17 July 2019, 10:10am
Oil and gas company Premier Oil has said that drilling of the Tolmount East appraisal well located in the UK Southern North Sea will start shortly.  ...
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Seadrill bags drilling rig gig in Gabon

17 July 2019, 9:58am
The 6th generation drillship was delivered from the Samsung shipyard in 2008. ...
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U.S. Gulf of Mexico platforms resuming production after storm

17 July 2019, 9:42am
More than fifty percent of the U.S. Gulf of Mexico oil and gas production remained shut on Tuesday following the tropical storm Barry. ...
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Woodside misses at Achernar offshore well

17 July 2019, 7:51am
Australian oil and gas company Woodside has reportedly drilled a duster at its Achernar prospect in the Dampier sub-basin offshore W. Australia. ...
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Aker Solutions books loss in second quarter

17 July 2019, 7:48am
Norwegian oilfield services provider Aker Solutions recorded a loss in the second quarter of the year despite increase in revenues driven by higher activity. ...
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ExxonMobil hands in revised proposal for Gippsland basin surveys

17 July 2019, 7:33am
Oil major ExxonMobil has submitted a revised proposal to Australia’s NOPSEMA for a series of geophysical and geotechnical surveys in the Gippsland basin. ...
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Premier extends partnership with Mubadala in Indonesia

17 July 2019, 7:23am
Mubadala Petroleum has signed an agreement with Premier Oil to farm out a 20 percent participating interest in each of the Andaman I and South Andaman Gross Split Production Sharing Contracts (PSCs)... ...
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Woodside files environment plan for Pyxis drilling

17 July 2019, 7:06am
Woodside's environment plan for WA-34-L Pyxis drilling and subsea installation is now under assessment with NOPSEMA, Australia's offshore regulator.  ...
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Contract extension for KS Drilling rig in Vietnam

17 July 2019, 6:55am
Singapore-based offshore drilling company KS Drilling has won a contract extension for one of its jack-up drilling rigs. ...
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Pandion buys stake in Norwegian Sea license from ConocoPhillips

17 July 2019, 6:36am
Pandion Energy has entered into an agreement with ConocoPhillips to acquire a 20 percent interest in PL 891, containing the Slagugle prospect. ...
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EnerMech promotes COO to chief executive role

17 July 2019, 6:05am
Integrated engineering service provider EnerMech has appointed a new chief executive officer (CEO). ...
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New finance deal to support offshore green energy switch

17 July 2019, 5:44am
Stavanger-based Blueday Technology has teamed up with sustainable energy infrastructure fund manager SUSI Partners to offer a new financing structure for offshore and marine asset owners. ...
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New Entrants Hold 46 Percent of UKCS Production

17 July 2019, 12:00am
New entrant exploration and production companies to the UK Continental Shelf since 2008 now control 46 percent of production.
Read more... (source: www.rigzone.com)


Trump Warns Trade War Can Escalate

17 July 2019, 12:00am
U.S. President Donald Trump has warned that the U.S.-China trade war can ratchet up further, if the United States wants.
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Oil Holds Losses as Global Demand Fears Rekindle

17 July 2019, 12:00am
Oil held its biggest loss in two weeks as President Donald Trump's threat of new tariffs on Chinese imports rekindled fears about global demand.
Read more... (source: www.rigzone.com)


Iran Says Missing Oil Tanker Towed for Repairs

17 July 2019, 12:00am
An oil tanker that had gone missing in the Persian Gulf had technical difficulties and was towed into Iranian waters for repairs, an Iranian foreign ministry official said, according to the ISNA news agency.
Read more... (source: www.rigzone.com)


US to Brief Diplomats on New Gulf Maritime Plan

17 July 2019, 12:00am
The U.S. plans to brief foreign diplomats based in Washington this week on a new maritime security initiative to protect shipping in the Middle East.
Read more... (source: www.rigzone.com)


US Oil Lets Korean Refiner Veer from Middle East

17 July 2019, 12:00am
South Korea's biggest oil refiner is looking to buy a wider variety of U.S. crude grades in a move that would reduce its reliance on supplies from the Middle East.
Read more... (source: www.rigzone.com)


LNG Demand to Spike Five-fold in Parts of Asia

17 July 2019, 12:00am
Demand for LNG from South and Southeast Asia will more than quintuple by 2040, Wood Mackenzie predicted Wednesday.
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Mubadala to Farm Out 20% Interest in Offshore Blocks

17 July 2019, 12:00am
Mubadala Petroleum has entered into a farmout agreement with Premier Oil for a 20 percent interest in two gas blocks offshore Indonesia.
Read more... (source: www.rigzone.com)


North Sea Oil is Learning From US Shale

17 July 2019, 12:00am
The U.S. oil boom changed the petroleum industry forever. Now its philosophy is being adopted by conventional producers in the North Sea.
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EU sanctions Turkey for drilling offshore Cyprus

16 July 2019, 2:06pm
The EU will stop high-level dialogues with Turkey and will reduce pre-accession assistance to Turkey for 2020. ...
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New EPA ruling expands sale of 15% ethanol blended motor gasoline

16 July 2019, 1:00pm
On May 31, 2019, the U.S. Environmental Protection Agency (EPA) issued a final rule allowing the year-round sale of motor gasoline blends containing up to 15% fuel ethanol, or E15. The ruling increases the availability of E15 blends in the United States, which are currently sold at more than 1,800 retail fuel stations across 31 states, according to Growth Energy, a trade association that represents producers and supporters of fuel ethanol.
Read more... (source: www.eia.gov)


GoM oil firms returning workers to offshore platforms after storm Barry

16 July 2019, 12:21pm
Anadarko, BP, Shell returning workers to offshore platforms after storm ...
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Inpex eyes FEED work for Abadi LNG project following revised plan approval

16 July 2019, 11:43am
Following approval from Indonesian authorities of Inpex's revised plan for Abadi LNG project, Inpex and its partner Shell are set to start preparations for FEED work for the project.  ...
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Gudrun field partners to invest in further development

16 July 2019, 10:12am
Partners in the Gudrun field offshore Norway have decided to invest in a water injection plant on the field to improve reservoir recovery. This will extend the field life by three years compared to... ...
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Keppel bags nearly $96 million in new contracts

16 July 2019, 9:59am
Keppel Offshore & Marine has secured contracts from repeat customers worth approximately S$130 million ($95.8M) for a newbuild dredger and the modification of a Floating Production Storage and... ...
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Westwood: UK’s new entrant E&P companies need to step up investment in new production

16 July 2019, 9:46am
A new study by Westwood Global Energy Group shows that new entrant E&P companies to the UKCS since 2008 now control 46% of production, 39% of reserves and 64% of potentially commercial volumes... ...
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VIDEO: Equinor brings Trestakk field online

16 July 2019, 8:47am
Norwegian oil and gas company Equinor started production from the Trestakk subsea field on Haltenbanken in the Norwegian Sea on Tuesday, July 16.   ...
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Equinor drills duster near Johan Sverdrup field

16 July 2019, 7:32am
Equinor has failed to find hydrocarbons at the wildcat well 16/5-7, near the Johan Sverdrup field in the North Sea, offshore Norway. ...
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Parker Drilling CEO on way out

16 July 2019, 7:22am
Houston-based drilling services company Parker Drilling has informed that its CEO Gary Rich has decided to retire from his roles as President, Chief Executive Officer, and Director of Parker Drilling... ...
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Scottish Gov’t adds further $5 million to decommissioning fund

16 July 2019, 6:53am
Scotland has launched the fourth round of the Decommissioning Challenge Fund through an injection of an additional $5 million. ...
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TechnipFMC picks president of new ventures

16 July 2019, 6:10am
Oilfield services company TechnipFMC has appointed a new president of new ventures. ...
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Saudi Aramco awards approved supplier status to Sparrows

16 July 2019, 5:31am
Sparrows Group has been awarded approved supplier status by Saudi Arabia’s national oil company Saudi Aramco. ...
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Pemex Aims to Reverse Oil Declines, Balance Budget

16 July 2019, 12:00am
Mexico's Petroleos Mexicanos aims to balance its budget by 2021 and reverse a decade and half of declining crude production as early as next year.
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Oil Companies Donate $16.5MM to Open Schools in Permian

16 July 2019, 12:00am
A group of Permian Basin energy companies will donate $16.5 million to help open 14 schools in Midland and Odessa by 2025.
Read more... (source: www.rigzone.com)


US Pipeline Giant Said to Weigh Rover Stake Sale

16 July 2019, 12:00am
Energy Transfer LP is weighing the sale of its 33 percent stake in a conduit that carries Appalachian natural gas to customers across the Midwest, according to people familiar with the matter.
Read more... (source: www.rigzone.com)


How to Save the Service Station

16 July 2019, 12:00am
Technological and cultural trends are changing the landscape of fuel retail.
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America's Hottest Shale Play Is Waning

16 July 2019, 12:00am
The engine of America's shale boom is beginning to sputter.
Read more... (source: www.rigzone.com)


Oil Holds Losses as Storm Moves Inland

16 July 2019, 12:00am
Oil held losses below $60 a barrel after the biggest decline in almost two weeks.
Read more... (source: www.rigzone.com)


No Quick Exit From Permian Oil for Private Equity

16 July 2019, 12:00am
Private equity has been ramping up its investment in Permian Basin oil and natural gas production, but the old strategy of selling out after a few years is no more.
Read more... (source: www.rigzone.com)


Oil Prices Erase Recent Gains

16 July 2019, 12:00am
WTI and Brent crude oil futures plunged Tuesday, erasing gains the benchmarks had largely sustained during the previous four trading days.
Read more... (source: www.rigzone.com)


Trestakk Comes Online

16 July 2019, 12:00am
Equinor revealed Tuesday that production has now started from the Trestakk subsea field on Haltenbanken in the Norwegian Sea.
Read more... (source: www.rigzone.com)


OPEC+ Cuts Must be Extended Through 2020

16 July 2019, 12:00am
OPEC+ cuts will need to be extended through 2020 just to keep the market in balance, according to Jefferies.
Read more... (source: www.rigzone.com)


Turkey Vows to Keep Up Drilling Off Cyprus

16 July 2019, 12:00am
Turkey rebuffed a set of punitive measures by the European Union and vowed to go ahead with its energy exploration in the eastern Mediterranean.
Read more... (source: www.rigzone.com)


Seabed Geosolutions gets ocean bottom node job in West Africa

15 July 2019, 2:29pm
Seabed Geosolutions has been awarded a 4D ocean bottom node (OBN) monitor survey in West Africa for a major oil company. ...
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Melbana planning Metgasco takeover

15 July 2019, 2:19pm
Oil and gas exploration company Melbana Energy has announced its intentions to make a takeover offer for 100 percent of ordinary shares in ASX-listed Metgasco. ...
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DOF finds work for vessels in subsea segment

15 July 2019, 2:13pm
Norwegian vessel provider DOF Subsea has been awarded several contracts, securing utilization for vessels in the Subsea/IMR Projects segment. ...
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ADM Energy (ex-MX Oil) names new CEO

15 July 2019, 1:58pm
ADM Energy, an oil and gas investing company until recently known under the name of MX Oil, has appointed a new CEO. ...
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Veolia, Peterson to dismantle Spirit Energy’s North Sea platform

15 July 2019, 1:56pm
Steel jacket and topsides from Spirit Energy’s ST-1 platform have arrived at the Dales Voe facility in Shetland for decommissioning by Veolia and Peterson. ...
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EIA expects U.S. energy-related CO2 emissions to fall in 2019

15 July 2019, 1:00pm
After a 2.7% increase in U.S. energy-related carbon dioxide (CO2) emissions in 2018, EIA's July Short-Term Energy Outlook (STEO) forecasts a 2.2% decrease in CO2 emissions for 2019. Nearly all of the forecast decrease is due to fewer emissions from coal consumption. Forecast natural gas CO2 emissions increase and petroleum CO2 emissions remain virtually unchanged.
Read more... (source: www.eia.gov)


Growth in Argentina's Vaca Muerta shale and tight gas production leads to LNG exports

12 July 2019, 1:00pm
Argentina's domestic natural gas production has been rising steadily in the past three years, largely because of increasing production from the Neuquén Basin's Vaca Muerta shale and tight gas play. Production from Vaca Muerta surpassed 1.0 billion cubic feet per day (Bcf/d) in December 2018. As production has grown, Argentina has resumed exporting natural gas by pipeline to neighboring Chile and Brazil and has started exporting liquefied natural gas (LNG). Argentina's first LNG export cargo was shipped on June 6 from the offshore Tango floating liquefaction unit (FLNG).
Read more... (source: www.eia.gov)


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