Russian oil producer Lukoil's capital expenditure may exceed $8 billion next year, the company's Vice President Pavel Zhdanov said on Thursday.The oil producer sees its capex at between 475 billion and 500 billion roubles this year, depending on the global oil deal between OPEC and its allies…
Production at oilfields that contribute to the North Sea Flotta Gold crude grade has restarted following pipeline repairs, a spokesman for the terminal operator said.Output was shut down in mid-May after a subsea valve on the pipeline from the…
Israel's Delek Group moved closer to listing its Ithaca Energy subsidiary on Thursday by buying most of Chevron's British North Sea oil and gas fields for $2 billion.Under pressure from a fall in oil prices to near 14-year lows of $26 a barrel in 2016…
South Africa continues to make progress in its endeavor to woo increased investment in the country’s highly under-developed offshore oil and gas market as the government’s slow and delayed plan to make cuts on crude oil imports begins to take shape…
Authorities said on Wednesday they are searching for an oil platform worker who has gone missing in the US Gulf of Mexico.The US Coast Guard said it has deployed two air crews and a cutter boat crew to search for a 54-year-old-man in the water near Renaissance Offshore's Eugene Island 331 platform…
An online prediction tool is being developed to help operators calculate the operational risk of a hydrate blockage in subsea gas condensate systems in real time.Ice-like methane hydrates, which form inside the pipe and can eventually build up to create a blockage…
Private equity-backed Neptune Energy expects output to slip to 155,000 barrels of oil equivalent per day (boed) this year, it said on Wednesday, as it reported operating cashflow of $362.3 million for the first quarter.It produced 162,000 boed…
Around 200 Norwegian offshore oil and gas workers plan to go on strike on June 4 unless pay negotiations lead to a deal with employers, the Lederne labour union said on Wednesday.A strike would hit seven offshore fields and at least two of those would have to shut production…
Offshore platforms designed to be able to operate for up to six months without the need for scheduled maintenance rely on a holistic power-generation concept from Wärtsilä that leverages high efficiency engines remote monitoring, predictive maintenance and OEM experience and expertise.
Pemex's oil exports dropped by 11% in April compared to the previous month, while production slipped by 0.9%, data from the Mexican state oil firm showed on Friday.Exports of Maya crude, the only type Pemex has been selling abroad for almost a year…
While the oil and gas industry shows signs of stabilization, the imbalance in value and margins between exploration and production (E&P) companies and the oilfield service segment is significant, according to a report by Deloitte.A major worry…
The Shell-operated Appomattox floating production system in the US Gulf of Mexico has been brought into production several months ahead of schedule, the British-Dutch supermajor announced on Thursday.The ultra-deepwater Appomattox development…
A collection of new orders may signal good news for the floating production sector, says a recent market report from International Maritime Associates and World Energy Reports (IMA/WER).Since the start of 2019, there have been 10 orders for floating production units…
Asia Pacific focused independent oil and gas company Jadestone Energy announced on Thursday that the Stag 49H infill well offshore Australia has started producing at a rate of 1,400 bopd.After concluding drilling operations on May 6, 2019, the…
Autonomous installations have the potential to save operators money by enhancing operational stability for more uptime and increased safety. Achieving those benefits requires confidence from companies and regulators. Companies like ABB are part…