Crude Oil News

 

Chestnut Field Extended Up to Three Years

Oct 11, 2019

Partners Spirit Energy and Dana Petroleum will invest £140 million ($177 million) to extend the life of the Chestnut field in the UK North Sea by as much as three years.The companies announced on Friday that they reached a deal with Teekay to extend the employment of the Hummingbird Spirit floating production, storage and offloading unit (FPSO) until March 2023 as the partners plan to drill a fourth production well by the first quarter of 2020…

ProPetro Cuts Almost 150 Workers

Oct 14, 2019

ProPetro Holding Corp this month cut about 150 workers, people familiar with the matter said on Monday, the latest sign of growing trouble in the oilfield services sector as U.S. shale producers reduce drilling.The job cuts reflect slowing shale activity due to weak prices for oil and gas…

Greenpeace Activists Climb Shell North Sea Platform

Oct 14, 2019

Greenpeace activists boarded two Royal Dutch Shell oil platforms in the British North Sea on Monday in protest against plans to leave parts of the giant structures in place after production shuts down.Pictures provided by Greenpeace show two people in yellow hats scaling one of giant two large…

Energean Sells North Sea Assets to Neptune

Oct 14, 2019

Israel-focused Energean Oil & Gas Plc on Monday agreed to sell Edison E&P North Sea assets to Neptune Energy Group for up to $280 million, as part of an ongoing plan to sell non-core assets.Energean, which is focused in the Mediterranean, will…

Aker BP Q3 Output Lags

Oct 14, 2019

Norway's Aker BP fell short of its third-quarter oil and gas output target and will take an impairment charge of $80 million, it said on Monday, sending its shares down more than 4%.Daily output fell to 146,100 barrels of oil equivalents per day (boepd) in the July-September quarter period from 150…

Hedge Funds Turn Bearish on Oil: Kemp

Oct 14, 2019

By early last week, hedge funds had become the most bearish towards petroleum prices since the start of the year, as traders grew increasingly pessimistic about the global economy.Hedge funds and other money managers sold the equivalent of 95…

ADES Wins 2nd Deepwater Drilling Gig in Egypt

Oct 13, 2019

The oil rig contractor ADES International PLC  has won a second deepwater drilling campaign in the Egyptian Mediterranean area, from  an undisclosed oil company.The offshore driller said that the contract was signed for deepwater drilling in the Egyptian Mediterranean area…

Japan, Scotland Invest in Subsea Technology

Oct 11, 2019

Scottish and Japanese companies will receive £9 million from a joint fund to work together on innovative subsea technology.Combined with investment made by the companies themselves, a total of £20.9 million of industrial research and development will go ahead…

Eni Committed to Cyprus Exploration

Oct 11, 2019

Italian oil major Eni is committed to the exploration of Cyprus' Exclusive Economic Zone and its contractual engagements with the country, its chief executive said on Friday.Turkey said last week it had sent an oil-and-gas drilling ship to waters…

Denmark Weighs Ending North Sea Exploration

Oct 11, 2019

Denmark is assessing whether to go ahead with an already announced tender for new oil and gas exploration in the Danish North Sea after setting itself one of the most ambitious climate targets in the world.The new Social Democratic government…

Iranian Tanker Hit by Missiles, Oil Rises

Oct 11, 2019

Oil prices jumped more than 2% on Friday, October 11, 2019, after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, raising the prospect of supply disruptions weeks after attacks on Saudi oil plants…

Total Says It Will Skip Brazil TOR Auction

Oct 10, 2019

Fance's Total SA, the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for November 6 of the so-called Transfer of Rights area in Brazil's pre-salt region.The company's chief executive officer…

Brazil Oil Auction Draws $2.2 Billion

Oct 10, 2019

Ten companies on Thursday agreed to pay more than $2 billion for the exploration and production rights in 12 offshore oil blocks in Brazil, in what could be a promising sign for even bigger upcoming oil auctions.The most heavily sought after…

Brazil Oil Bidding Points to Future Auction Success

Oct 10, 2019

Brazil's mines and energy minister said the positive results of Thursday's round of bidding for the country's offshore oil blocks point to successful auctions later this year of the so-called Transfer of Rights area and pre-salt oil find.Minister…

Brazil Court Green Lights TOR Mega Auction

Oct 10, 2019

Brazil's Federal Audit Court known as the TCU unanimously approved on Wednesday the ground rules for a major auction of pre-salt oil concessions in a 'transfer of rights' (TOR) area off the country's southeastern coast.The government expects to raise 106 billion reais ($25…

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Crown Estate Opens Offshore Wind Round 4

Crown Estate Opens Offshore Wind Round 4

Boa Offshore Wins AHTS Contracts

Boa Offshore Wins AHTS Contracts

ProPetro Cuts Almost 150 Workers

ProPetro Cuts Almost 150 Workers

Greenpeace Activists Climb Shell North Sea Platform

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Offshore Engineer (Sep/Oct 2019)

This issue of Offshore Engineer is dedicated to Big Data and Digitalization

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