Industry News

Noble Corporation gets continued listing warning from NYSE

21 February 2020, 1:36pm
Offshore rig owner Noble Corporation has received a continued listing standard notice from the New York Stock Exchange (NYSE).  ...
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Rystad: Indonesia’s oil & gas production to fall short of expectations for 2020

21 February 2020, 1:08pm
Despite Indonesia’s official projections of an eight percent growth year-on-year, production of both oil and gas will most likely fall in 2020, according to energy intelligence firm Rystad Energy. ...
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Hourly electricity consumption varies throughout the day and across seasons

21 February 2020, 1:00pm
The electricity consumed in a given period (often referred to as electricity load) varies throughout the year in somewhat predictable patterns. Total U.S. hourly electricity load is generally highest in the summer months when demand peaks in the afternoon as households and businesses are using air conditioning on hot days. During the winter months, hourly electricity load is less variable but peaks in both the morning and the evening. Load is generally lowest in the spring and autumn when homes and businesses have less need for space heating or cooling.
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Ex-consultant connected to Sembcorp Marine convicted of corruption in Brazil

21 February 2020, 10:50am
A former consultant connected to Singapore's offshore rig builder Sembcorp Marine has been convicted of corruption and money laundering in a case related to a drilling rig construction contract with... ...
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Aker Energy to award Pecan FPSO deal to Yinson

21 February 2020, 8:51am
Aker Energy has entered into a Letter of Intent with Yinson to award a bareboat charter and an operations and maintenance contract for an FPSO vessel at the Pecan field, offshore Ghana. ...
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Shelf Drilling working to secure funds for rig upgrade

21 February 2020, 8:31am
Shelf Drilling has closed a private placement of $80 million of senior secured notes with an intention to use the proceeds to finance activation and upgrade costs for a drilling rig recently acquired... ...
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Loss deepens for Valaris 

21 February 2020, 8:00am
Offshore drilling contractor Valaris booked a bigger quarterly loss as its revenues declined due to fewer rig operating days. Valaris on Thursday reported a net loss attributable to the company of... ...
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Worley scores Mozambique LNG services deal from Total

21 February 2020, 7:42am
Australian engineering company Worley has been awarded two master service agreements (MSAs) by French major Total for services on the Mozambique LNG project. ...
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Shell orders subsea equipment for Whale project from Deep Down

21 February 2020, 7:20am
Houston-based oilfield services company Deep Down has received an order from oil major Shell for work related to its Whale development in the U.S. Gulf of Mexico. ...
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Hunting boosts subsea offering by buying UK player

21 February 2020, 7:10am
British supplier to the oil and gas industry Hunting has completed the acquisition of Aberdeen-based oil and gas production optimization specialist Enpro Subsea. ...
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Petrofac Bags Sharjah Project

21 February 2020, 12:00am
Petrofac's EPS division has been awarded an EPCC contract by Sharjah National Oil Corporation.
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Calcasieu Pass Compressor Order Goes to Siemens

21 February 2020, 12:00am
This photo shows a typical single-shaft, vertically split turbocompressor used for LNG service. PHOTO SOURCE: Siemens
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Crew Kidnapped from Oil Tanker

21 February 2020, 12:00am
Reporting indicates that the Alpine Penelope crude oil tanker has been attacked while in transit towards Lagos.
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Oil Demand Growth Set for Strong 2021

21 February 2020, 12:00am
Here are Rigzone's top stories during the last week, just in case you missed them...
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Buyer Cancels LNG Cargoes From Cheniere

21 February 2020, 12:00am
Cancellations of US cargoes were closely watched and highly anticipated amid a grim outlook on global prices.
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US Rig Count Barely Budges

21 February 2020, 12:00am
The US rig count is up just one rig from last week to 791.
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AG&P Breaks Ground at Karaikal Port LNG Import Facility

21 February 2020, 12:00am
AG&P breaks ground on its LNG import facility at Karaikal Port, Puducherry. Terminal expected to commence operations by Q4 2021. (Source: Business Wire)
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Onshore Timor-Leste Campaign Would Be Country's First

21 February 2020, 12:00am
Australia-based junior explorer Timor Resources is one step closer to making history in the young country of Timor-Leste, which became a sovereign state only 18 years ago.
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Baker Hughes and TWC Fund Field Tech Career Program

21 February 2020, 12:00am
From left, Baker Hughes' Muzzamil Khider, LSC's Stephen C. Head, TWC's Robert D. Andrade and TWC's Michael Gutierrez. PHOTO SOURCE: LSC
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Oil Rally Sputters on Renewed Virus Concern

21 February 2020, 12:00am
Oil pared a second weekly gain on renewed concern about the impact of the coronavirus.
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Oil Stumbles on Fears of Virus Intensifying Beyond China

21 February 2020, 12:00am
China revised how it calculates infection totals again, raising questions about data reliability and confirming the virus's growing reach.
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ArcLight and Rattler Midstream Partner on Permian JV

21 February 2020, 12:00am
The JV owns and operates the Yellow Rose gas gathering and processing system with total processing capacity of 40,000 Mcf/d.
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Noble Corp. Shuffles Leadership, Reports 4Q Earnings

21 February 2020, 12:00am
For the year, Noble saw a net loss of $701 million, of which $4 million is tied to discontinued operations.
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Vitol Sees Oil Recovery This Year

21 February 2020, 12:00am
The oil market is poised for a recovery but will have to first tackle a severe virus-induced demand slump.
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Sembcorp Marine sinks to the red amid low activity levels

20 February 2020, 2:17pm
Singapore's offshore rig builder Sembcorp Marine posted a bigger loss for 2019 when compared to 2018. Quarterly, the company went from black to the red as its revenues dropped by 32% amid low... ...
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EIA projects U.S. energy intensity to continue declining, but at a slower rate

20 February 2020, 1:00pm
EIA�s recently released Annual Energy Outlook 2020 (AEO2020) projects that U.S. energy consumption will grow more slowly than gross domestic product (GDP) through 2050 as energy intensity continues its decades-long trend of decline through the AEO2020 forecast period. Energy intensity is a measure of how efficiently the economy uses energy to produce every dollar of GDP. In the AEO2020 Reference case, total U.S. energy consumption increases at an average annual rate of 0.3% between 2019 and 2050, and GDP grows at an annual rate of 1.9%, which indicates a 1.5% average annual decline in energy intensity during the projection period. By 2050, the domestic energy consumption associated with each dollar of U.S. economic growth is less than half of what it was in 2005.
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Seismic player says Pemex decision not to award more work detrimental to revenues

20 February 2020, 12:23pm
EMGS has been forced to take immediate action and implement a cost-cutting program due to detrimental effect of Pemex's decision not to award it any more work under a two-year acquisition program... ...
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Southern North Sea gas field comes on stream

20 February 2020, 9:28am
Wintershall Noordzee, a joint venture of Wintershall Dea and Gazprom, has started gas production from its operated Sillimanite field located in the Southern North Sea.  ...
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DOF Subsea gets new gigs for vessels in Africa

20 February 2020, 8:48am
Norwegian vessel operator DOF Subsea has won two contract awards with international clients in Africa. ...
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Noble Corp. posts higher quarterly revenues

20 February 2020, 8:30am
Noble Corporation has managed to keep its net loss flat in the last quarter of 2019 while its revenues increased during the period. ...
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SeaBird wins seismic work in Asia Pacific region

20 February 2020, 7:54am
Seismic services player SeaBird Exploration has received a letter of award for an OBN source contract in the Asia Pacific region. ...
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Energean tests Karish Main well performance

20 February 2020, 7:51am
Energean Oil and Gas has conducted a successful production test on the Karish Main-02 development well located offshore Israel.  ...
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Otto Energy rejoins Byron in Gulf of Mexico drilling program

20 February 2020, 7:45am
After refusing to participate in Byron Energy’s SM71 F4 well in the Gulf of Mexico, Otto Energy decided that it would be participating in the drilling of the next well, named SM71 F5. ...
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Petronas taps Tanjung for Bayan offshore production unit

20 February 2020, 7:40am
Malaysia's oilfield services provider Tanjung Offshore Services (TOS) has received a letter of award from Petronas Carigali for the leasing, operating, and maintenance of a mobile offshore production... ...
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Inpex inks MoUs for long-term gas supply from Abadi project

20 February 2020, 7:20am
Japanese oil and gas firm Inpex has signed memorandums of understanding (MOUs) with PT PLN Persero (PLN) and PT Pupuk Indonesia for the long-term domestic LNG and pipeline natural gas supply from the... ...
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Siemens to modernize Middle East jack-up rig

20 February 2020, 7:05am
German multinational conglomerate Siemens has been awarded a contract by Arabian Drilling Company to modernize an offshore jack-up drilling rig for a customer in the Middle East. ...
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Mime Petroleum works to strengthen liquidity ahead of Balder Future project

20 February 2020, 6:21am
Mime Petroleum has issued a NOK 300 million ($32.2M) senior unsecured bond with maturity in February 2025 ahead of the Vår Energi-operated Balder Future project in the North Sea. ...
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OTC Partners with UAHT for Sixth Year

20 February 2020, 12:00am
The Offshore Technology Conference revealed Wednesday that it will continue its partnership with United Against Human Trafficking.
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Wintershall Noordzee Brings Sillimanite Online

20 February 2020, 12:00am
Wintershall Noordzee has successfully started gas production from its operated Sillimanite field.
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Fracking Ban Would Cost Millions of Jobs

20 February 2020, 12:00am
A fracking ban would cost millions of jobs, according to the American Petroleum Institute.
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Maduro Shakes Up PDVSA, Declares Oil 'Emergency'

20 February 2020, 12:00am
Venezuela's President Nicolas Maduro announced a commission to revamp PDVSA, redoubling efforts to shore up the nation's crumbling oil industry.
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Oil Jumps on Booming US Exports

20 February 2020, 12:00am
Exports surged and the expansion of domestic inventories slowed dramatically.
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Repsol Profit Misses Estimates

20 February 2020, 12:00am
Repsol SA reported fourth-quarter earnings that missed estimates as a weaker refining and chemicals business and a drop in crude prices had a larger impact than expected.
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Masirah flows first Yumna oil into tanker

19 February 2020, 12:28pm
Masirah Oil has completed the Yumna 1 well, located in Block 50 offshore Oman, and flowed first oil into the Aframax tanker. ...
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Neptune brings online new gas well in Dutch North Sea

19 February 2020, 12:09pm
Neptune Energy has produced first gas from the new L5a-D4 well in the deepest producing gas field of the Dutch North Sea.  ...
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Eni kicks off drilling operations on Oman’s first deepwater offshore well

19 February 2020, 10:16am
Italian oil and gas major Eni has started drilling what is reportedly the first ever deepwater offshore exploration well in Oman's waters.  ...
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BP evacuates workers from North Sea platform amid power issue

19 February 2020, 8:56am
Oil major BP has evacuated non-essential personnel from the ETAP platform located in the UK North Sea following a power issue.  ...
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Norwegian oil output in January falls below forecast

19 February 2020, 8:04am
Norwegian oil production during January 2020 dropped around 6.6 percent below predictions made by the Norwegian Petroleum Directorate (NPD), according to the directorate’s report on Wednesday. ...
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Tower Resources sets tentative timeline for Thali well off Cameroon

19 February 2020, 7:42am
Tower Resources is preparing to drill the Njom-3 well at its Thali license, located in the Rio del Rey Basin offshore Cameroon, with a tentative timeline set for June this year. ...
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Sparrows to build cranes for Qatargas’ North Field expansion project

19 February 2020, 7:31am
Equipment and integrated engineering services company Sparrows Group has secured a contract to manufacture three cranes for Qatargas’ North Field expansion project. ...
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Vaalco finds oil in Etame well offshore Gabon

19 February 2020, 7:19am
The South East Etame 4P appraisal wellbore drilled from the Vaalco-operated South East Etame North Tchibala (SEENT) platform offshore Gabon in the Etame Marin permit area has encountered oil sands in... ...
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Eidesvik secures work for two vessels with Seabed Geosolutions

19 February 2020, 7:14am
Norwegian shipping company Eidesvik Offshore has been awarded new contracts by Seabed Geosolutions for the seismic source vessel Vantage and the node-handling vessel Subsea Viking. ...
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EIA revises global liquid fuels demand growth down because of the coronavirus

18 February 2020, 1:00pm
In the February 2020 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that global liquid fuels demand will average 101.7 million barrels per day (b/d) in 2020, 1.0 million b/d more than the 2019 average but 378,000 b/d less than was forecast in the January 2020 edition of the STEO. The difference between the forecasts is driven by a combination of lower-than-expected heating fuel consumption caused by the Northern Hemisphere’s warmer-than-expected winter, an expected slowing of economic growth in general, and the particular economic effects of the 2019 novel coronavirus (COVID-19) outbreak.
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