Crude Oil News

 

UK: Hurricane Energy Hires Stena Drilling Rig to Plug Lincoln Well

Jun 16, 2021

UK-based oil and gas company Hurricane Energy has hired the Stena Don semi-submersible drilling rig for the plugging and abandonment of its Lincoln-14 offshore well west of Shetland.The Lincoln-14 well, formally named the 205/26b-14,  is located…

U.S. Judge Orders Resumption in Federal Drilling Auctions

Jun 16, 2021

A federal judge in Louisiana on Tuesday blocked the Biden administration's pause on oil and gas leasing on public lands and waters, dealing a setback to a key White House effort to address climate change.The order granted a preliminary injunction…

Ace Oil Tools Launches Control Line Clamp for Well Construction

Jun 15, 2021

Ace Oil Tools has said it has launched its new Ace Control Line Clamp (ACLC) for the offshore well construction market.'The ACLC has been designed to improve safety in offshore operations by enabling automation during the installation of control line clamps…

Climate Activists Take a Swing at Norwegian Arctic Drilling Plans at Human Rights Court

Jun 15, 2021

Norwegian climate activists have asked the European Court of Human Rights (ECHR) to rule against Norway's plans for more oil drilling in the Arctic, the campaigners said on Tuesday, arguing the country's exploration deprives young people of their future…

Equinor to Increase Spending on Renewables. Oil Output Continues to Rise

Jun 15, 2021

Equinor will increase the share of investment it dedicates to renewable energy and so-called low-carbon solutions as it seeks to broaden its business, the Norwegian oil and gas producer said in a strategy update on Tuesday.The majority state-owned firm…

Equinor Makes Oil Find Off Norway. Eyes Garantiana Tie-back

Jun 14, 2021

Norwegian oil and gas company Equinor has discovered oil on the Garantiana West prospect in production licence 554, offshore Norway.Recoverable resources are estimated at between 1.3 and 3.6 million standard cubic meters of oil equivalent, corresponding to 8-23 million barrels of oil equivalent…

Chinese Partners to Pay Petrobras $2.94B for Buzios Field Surplus

Jun 14, 2021

Brazilian state-run oil firm Petroleo Brasileiro SA said on Friday that its Chinese partners in the Buzios pre-salt oil field will have to pay it $2.94 billion for its prior investment in exploration under the TOR rights to surplus oil found there…

Wood Bags Five-year Extension at Hibernia

Jun 11, 2021

Oil and gas services firm Wood has secured a contract renewal for the provision of engineering, procurement, and construction (EPC) solutions and maintenance to the Hibernia platform off the coast of St. John’s, Newfoundland, and Labrador.The…

Petrobras Orders $2.3B FPSO from Saipem, DSME JV

Jun 11, 2021

Italian offshore engineering and construction firm Saipem, in a joint venture with South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), has won a contract with Brazil's Petrobras to build an FPSO for the Búzios offshore field in Brazil…

Norway Not Giving Up on Oil, Gas in Push for Greener Energy

Jun 11, 2021

Norway is betting on hydrogen and offshore wind for its energy transition but will continue to extract oil and gas until 2050 and beyond, the center-right government said as it presented its long-term energy strategy on Friday.Europe's second…

Norway Offshore Drilling Workers Threaten to Strike

Jun 11, 2021

Some 1,065 members of two Norwegian labour unions could go on strike on June 17 if wage talks fail, hitting oil exploration and other drilling services, the unions said on Friday.A strike would not affect oil and gas output in the initial round…

Cambodia Unclear on Oil Plans as KrisEnergy Heads Towards Liquidation

Jun 10, 2021

Cambodia's government said on Thursday it had no immediate plan for maintaining oil production in the country, after its partner KrisEnergy announced it was headed to liquidation, just five months after extracting the country's first drop of oil…

Wood Chairman Franklin Joins Kosmos Energy Board

Jun 10, 2021

Offshore oil and gas exploration and production company Kosmos Energy has appointed Roy A. Franklin as a member of its Board of Directors, effective June 9, 2021. Franklin is a senior executive with more than 45 years in the energy industry…

Oil Prices Soar on Signs of Strong Demand in Western Economies

Jun 09, 2021

Oil prices continued to rally on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be lifted.Brent crude futures were up 44 cents…

ExxonMobil Finds More Oil in Stabroek Block Offshore Guyana

Jun 09, 2021

U.S. oil major ExxonMobil said Wednesday it had made another oil discovery in the Stabroek block offshore Guyana, this time at the Longtail-3 well.'Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified…

Current News

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Schlumberger Issues Bullish Forecast as 2Q Profit Beats Estimates

Large Offshore Hydrogen Park in Germany Moves Step Closer

Large Offshore Hydrogen Park in Germany Moves Step Closer

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