Offshore Engineer Oil News


Indonesians Seek $140 Mln Over Montara Spill

Jun 18, 2019

Indonesian seaweed farmers were set to seek more than A$200 million ($137 million) from Thailand's PTT Exploration and Production in a trial starting on Monday, to cover damage they say they suffered after Australia's worst oil spill.The class action represents more than 15…

Hurricane Sells First Cargo from Lancaster

Jun 18, 2019

UK based oil and gas company Hurricane Energy said it has sold its first cargo lifted from the Aoka Mizu floating production, storage and offloading unit (FPSO) at its Lancaster field offshore Scotland.The cargo was marketed by BP Oil International…

Chevron: Mature Fields, Maximum Production

Jun 18, 2019

Chevron is combining technology and streamlined work processes to maximize production efficiencies in its mature offshore fields. Continued investments in the fields, reservoir surveillance, analytics and portfolio optimization are some of the…

BP Rig Zigzags in Chase with Greenpeace Ship

Jun 17, 2019

A BP drilling rig heading to an oilfield in the British North Sea has been forced to turn away twice over the past two days as a Greenpeace vessel protesting climate change tries to hamper its progress.The high-sea chase is the latest step in Greenpeace's nine-day effort to stop the 40…

West Africa Offshore Outlook

Jun 17, 2019

The outlook for West Africa’s offshore oil and gas market remains positive despite some hiccups hinged on delay by some countries in the region to align their hydrocarbon regulations to prevailing market trends and the intensifying global competition…

Norwegian Sea Gas Province an Oil Draw

Jun 17, 2019

Equinor announced on Monday that it has discovered oil and gas in separate formations of cut by the same well, and all indications are that a new oil-heavy play in a Norwegian Sea gas province may create a rush to oil if the area’s notoriously splintered geology can be mastered…

Equinor Makes Two Finds in the Norwegian Sea

Jun 17, 2019

Equinor and its partners Ineos E&P and Faroe Petroleum have made an oil and gas discovery in exploration well Snadd Outer Outer/Black Vulture in production licence 159B in the Norwegian Sea. The well had two different reservoir targets; an upper…

Brazil Postpones Santos Basin Bid Round

Jun 13, 2019

Brazil's oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28.The preliminary rules will be in public consultation until July 3…

Oil Prices Jump 2% After Tanker Attacks

Jun 13, 2019

Oil prices settled 2.2% higher on Thursday after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping routes.The attacks near Iran and the Strait of Hormuz reignited…

Shell Investing in Mexican Deepwater

Jun 11, 2019

Mexico's independent oil regulator on Tuesday approved deepwater exploration plans for five areas operated by Royal Dutch Shell Plc in Mexican waters near the U.S. maritime border.The plans commit the Anglo-Dutch oil major to invest at least $397 million over the next four years…

The On-again Arctic

Jun 11, 2019

A cursory look at rig, seismic and yard activity in the world is enough to deduce that there’s more happening in the Arctic than Greens tying themselves to seventh-generation drilling units.A judge may have blocked Alaskan drilling in coastal…

Oil Rises on Likely OPEC+ Supply Cuts

Jun 10, 2019

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy.Front-month Brent crude futures…

Lawmakers Want UK to Stop Funding Fossil Fuel Projects Abroad

Jun 10, 2019

Britain must stop financing fossil fuel projects abroad by 2021 as it undermines the nation's efforts to combat climate change, a report by lawmakers said on Monday.The report, which targets financial support provided by the UK Export Finance (UKEF) agency…

Fitch Downgrades Pemex Debt to 'Junk'

Jun 07, 2019

Fitch on Thursday became the first major ratings agency to downgrade the debt of Mexican oil company Pemex to 'junk' status, in a major setback for President Andres Manuel Lopez Obrador's plans to revive the struggling state-run firm.Fitch changed…

Angola Could Reap from New Policy Regime

Jun 06, 2019

Angola, sub-Saharan Africa’s second largest oil producer after Nigeria, is optimistic the new fiscal and regulatory regime now in place would translate into a reversal of the country’s declining oil output and attract more private investment…

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