Crude Oil News

 

Equinor to Sanction $1.95B Breidablikk Development in North Sea

14 hours ago

Norwegian oil company Equinor is set to develop the Breidablikk, dubbed one of the largest undeveloped oil discoveries on the Norwegian continental shelf.The company said Monday morning that it would, together with its partners Petoro, Vår Energi and ConocoPhillips submit the plan for development and operation for the Breidablikk to the Minister of Petroleum and Energy, in addition to awarding contracts for subsea facilities and upgrading of the Grane platform…

GIEK Banks on Renewable Energy

1 hour ago

Wenche Nistad, CEO of the Norwegian Export Credit Guarantee Agency (GIEK) pulls no punches in assessing the appetite for investment in traditional offshore oil and gas today: “The money has disappeared; nobody wants to invest in oil and gas anymore…

Edison Chouest's C-Innovation Acquires Caltex Oil Tools

6 hours ago

Edison Chouest Offshore's marine services affiliate C-Innovation has acquired the controlling interest in Caltex Oil Tools, a provider of equipment rentals, services, and customized engineering capabilities to the offshore industry.C-Innovation said that the Houston-based Caltex…

OPITO Ventures into Renewables

8 hours ago

OPITO, a UK-based skills and workforce body whose main focus has been offshore oil and gas - as its full name Offshore Petroleum Industry Training Organization suggests - is shifting its course and venturing into renewables.The organization…

Nigeria's Oil Reform Could See NNPC Privatized, Deepwater Royalties Amended

9 hours ago

Nigeria's long-awaited oil reform bill would privatize the Nigerian National Petroleum Company (NNPC), amend changes to deepwater royalties made late last year and scrap key regulatory agencies in favor of new bodies, a copy of the bill seen by Reuters showed…

CNOOC Starts Oil Production from Liaodong Bay Field

12 hours ago

Chinese oil company CNOOC said Monday that the Jinzhou 25-1 oilfield 6/11 area in Liaodong Bay, China, had started production.Jinzhou 25-1 oilfield 6/11 area is located in central Liaodong Bay in Bohai with average water depth of 22.5 meters…

Brazil: Total Transfers Foz do Amazonas Block to Petrobras

13 hours ago

French oil major Total will transfer its rights in five blocks in Foz do Amazonas Basin off Brazil to Brazil's national oil company Petrobras, and exit the basin.To remind, Total earlier in September announced its decision o give up operatorship over the five exploration blocks in ultra-deep waters…

Udenna Wants to Take Shell's Malampaya Stake

13 hours ago

Philippine oil and shipping group Udenna Corp on Monday expressed interest in acquiring Royal Dutch Shell PLC's 45% stake in the Malampaya gas-to-power project, in partnership with state-owned Philippine National Oil Company (PNOC).Shell is…

Milaha, Schlumberger to Build Stimulation Vessel

Sep 27, 2020

Qatar's maritime and logistics firm Milaha said it entered into a formal agreement with U.S. headquartered oilfield services firm Schlumberger to cooperate on projects that will localize the energy sector supply chain, including the construction of a Qatari offshore oil well stimulation vessel…

Trump Extends Offshore Drilling Ban in North Carolina, Virginia

Sep 27, 2020

U.S. President Donald Trump said on Friday he had extended a ban until 2032 on oil drilling off the coast of North Carolina and Virginia, weeks after a similar extension affecting offshore drilling in the waters off Florida, Georgia, and South Carolina…

Guyana Nears Deal with Exxon for Payara Project

Sep 25, 2020

Guyana is close to reaching a deal with Exxon Mobil Corp to approve the company's Payara project, after the company committed to stricter environmental restrictions on gas flaring and wastewater, a top government official said on Friday.Exxon…

Canada Commits Nearly $240 Mln to Aid Offshore Oil Industry

Sep 25, 2020

Canada will spend C$320 million ($238.56 million) to support its offshore oil industry in Newfoundland and Labrador, which has struggled as coronavirus pandemic travel restrictions reduced demand, the government said on Friday.The funds are…

Petrobras Eyes Sale of Albacora Offshore Fields

Sep 25, 2020

Brazilian national oil company Petrobras has launched a teaser for the potential sale of its interests in Albacora and Albacora Leste deepwater offshore blocks in Brazil.Petrobras is selling a 100% operated working interest in the Albacora offshore…

OHT set for Merkur Market Debut

Sep 25, 2020

Shares of Offshore Heavy Transport, a maritime heavy lift and transportation company with growing involvement in the offshore wind space, will start trading at Norway's Merkur Market on Monday, September 28.The shares have been approved for…

Looming Strike Could Close 22% of Norwegian Oil and Gas Output

Sep 25, 2020

Norwegian oil firms plan to close down 22% of the country's oil and gas output, or 900,000 barrels of oil equivalent per day, if workers go on strike next week, the Norwegian Oil and Gas Association (NOG) said on Friday.Some 324 workers out of 7…

Current News

GIEK Banks on Renewable Energy

GIEK Banks on Renewable Energy

Edison Chouest's C-Innovation Acquires Caltex Oil Tools

Edison Chouest's C-Innovation Acquires Caltex Oil Tools

SLPE to Design Foundations for Inch Cape Offshore Wind Farm

SLPE to Design Foundations for Inch Cape Offshore Wind Farm

RWE Signs Deals to Expand Lease Areas of Four Offshore Wind Farms in UK

RWE Signs Deals to Expand Lease Areas of Four Offshore Wind Farms in UK

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