Crude Oil News

 

Risky Bet: NOCs Risk Wasting $400B as Energy Transition Accelerates

Feb 09, 2021

State-owned oil companies could squander about $400 billion on investments in the next decade on new oil projects that will struggle to turn a profit as the world shifts away from fossil fuels, a non-governmental organization said on Tuesday…

Shell in Norway: Focus on Gas and Offshore Wind

Feb 09, 2021

Royal Dutch Shell will narrow its exploration scope in Norway to focus on natural gas production and possibly offshore wind in future, it told the Norwegian oil and energy ministry.Shell said in October it planned to reduce its oil and gas operations…

HitecVision, Agder Energi Partner Up to Build Companies for 'Green Future'

Feb 09, 2021

HitecVision, a Norwegian private equity investor specializing in the oil and gas sector, has teamed up with the Norwegian power company Agder Energi to develop new companies for the coming energy transition.'There are strong forces in Europe…

PTTEP Taps Petrofac for P&A Project Off Australia

Feb 09, 2021

Oilfield services company Petrofac said Tuesday it has secured a Well Project Management contract in Australia with the Thai oil firm PTTEP.Petrofac will provide all project manpower to enable the execution of plug and abandonment operations…

CNOOC's Giant Semi-submersible Platform Arrives at Lingshui 17-2 Field

Feb 09, 2021

China's offshore oil and gas major CNOOC Ltd has delivered Shenhai-1, a 53,000-tonne, 120-meter tall locally built semi-submersible production and storage platform to its deepsea gas project in the South China Sea, a state-owned media has reported…

Brent Oil Price Hits $60 Boosted by Supply Cuts, U.S. Stimulus Hopes

Feb 08, 2021

Oil prices rose on Monday to their highest in just over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures that can boost demand.Brent was up 68 cents…

Independent Oil and Gas Names New COO

Feb 08, 2021

Independent Oil and Gas (IOG), and oil and gas company focused on the UK North Sea, has has appointed David Gibson as its new Chief Operating Officer.'David has extensive relevant North Sea engineering and project management experience over a near 30-year energy industry career…

Brazil: Petrobras, PetroRio Complete Frade Field Transaction

Feb 08, 2021

Brazilian oil giant Petrobras has sold its 30 percent stake in the Frade offshore oil field to PetroRio. With the completion of the transaction, PetroRio now fully owns the field, located in the Campos Basin, north coast of the state of Rio de Janeiro…

Providence Resources Refutes Reports on Merger Talks

Feb 08, 2021

Irish-based oil and gas firm Providence resources on Monday refuted Irish media reports that the company was in merger talks.Business Post on Sunday reported that the company had been approached by the Norwegian firm SpotOn Energy, which last…

Petronas Assisting Workers Stranded on Offshore Rig in Myanmar after Coup

Feb 08, 2021

Following reports that workers aboard Petronas' Yetagun oil platform off Myanmar were stranded due to a military coup in the country, the Malaysian oil firm said it was working to ensure the safety of those aboard.'Petronas is extending the…

VIDEO: BP's Argos Platform Sails Away from S. Korea

Feb 08, 2021

Oil major BP has informed that its Argos oil platform, built by Samsung Heavy Industry, has set sail from South Korea and is en route to Texas.The platform, which will be capable of producing up to 140,000 gross barrels of crude oil per day from up to 14 production wells…

Total, GIG JV Secures 1.5 GW Offshore Wind Lease in UK

Feb 08, 2021

French oil major Total, in partnership with Macquarie’s Green Investment Group (GIG), has secured rights to a seabed lease for offshore wind development in the UK.The lease is located in the Eastern Regions zone in the Crown Estate’s Offshore Wind Leasing Round 4…

The Bahamas: BPC Completes Drilling of Perseverance #1 with Non-Commercial Oil Discovery

Feb 08, 2021

Bahamas Petroleum Company (BPC) said Monday that its Perseverance #1 well offshore The Bahamas has encountered oil, however, not in commercial volumes.'The Perseverance #1 well in The Bahamas has encountered hydrocarbons, successfully validated the structural model and the petroleum system…

A New Company Enters the Deep Offshore Wind Market

Feb 05, 2021

Norwegian maritime and offshore energy forces teamed up in January to create Deep Wind Offshore, a new name in offshore wind.Deep Wind Offshore, founded by the Norwegian shipping company Knutsen OAS and one of Norway’s larger utilities Haugaland Kraft/SKL (Sunnhordland Kraftlag)…

Ithaca Energy Resumes Output from North Sea Platform after Covid-related Halt

Feb 05, 2021

UK-focused oil firm Ithaca Energy has restarted production from its FPF-1 offshore platform in the North Sea, some two weeks after a Covid-related shutdown.To remind, Ithaca had shut down production after four four crew members from the offshore…

Current News

Aquaterra Energy Wins Riser Deal in APAC

Aquaterra Energy Wins Riser Deal in APAC

Santos Books Noble Jack-Up to Drill Near Dorado Field in Australia

Santos Books Noble Jack-Up to Drill Near Dorado Field in Australia

Saudi Aramco, Chevron Chiefs See Global Oil Demand Recovery

Saudi Aramco, Chevron Chiefs See Global Oil Demand Recovery

Lundin Energy Hires Deepsea Stavanger Offshore Drilling Rig

Lundin Energy Hires Deepsea Stavanger Offshore Drilling Rig

Subscribe for OE Digital E‑News

Offshore Engineer Magazine