Crude Oil News

 

Subsea Technology: Remote Power, On Demand

Jan 06, 2021

Taking the power to where you want it is another option – perhaps not for compression or pumping system, but potentially for monitoring, inspection, and even intervention systems, such as resident robotics concepts.It’s an idea some have been looking at…

Opinion: Biden Administration Can Align with Offshore Energy

Jan 06, 2021

Economic recovery. Climate change. Racial equity. COVID-19. These four issues are at the core of President-elect Joe Biden’s Day 1 priorities. Separately, each issue seems like a monumental challenge with no easy solution. But there is a path…

Swinging Again, Saudi Arabia Sacrifices Market Share to Protect Oil Price

Jan 06, 2021

Saudi Arabia’s announcement that it will reduce oil output by 1 million barrels per day in February and March has boosted prices and helped paper over divisions within the producer alliance, at least temporarily.The unilateral cut, announced on Tuesday…

ConocoPhillips to Control Eldfisk 2/7 Bravo Platform Remotely

Jan 06, 2021

Oil company ConocoPhillips has obtained regulatory approval for remote operations of its Eldfisk 2/7 Bravo facility in the North Sea, offshore Norway.The consent, granted by the Petroleum Safety Authority Norway, covers the conversion to a new…

Petronas: Baram Oil Production to Resume in Q3, after Ship Accident

Jan 06, 2021

Malaysia’s state energy firm Petronas said on Monday it expects to resume full production at its Baram facilities, off the state of Sarawak on Borneo island, in the third quarter after halting output in October following an accident.Petronas…

Vår Energi Names New CEO

Jan 06, 2021

Norwegian oil company Vår Energi has appointed Torger Rød as the company’s new CEO. Rød will take over from Kristin F. Kragseth who has recently accepted the position as CEO of Petoro, the management company for the Norwegian state-owned oil and gas interests…

Equinor Breaches Safety Rules at Martin Linge Field - Norway Regulator

Jan 06, 2021

Norway's Equinor has breached safety regulations at its long-delayed Martin Linge oil and gas development and must fix the problems before output can begin, an industry regulator said on Tuesday.Following an audit of control, monitoring and safety systems…

EIG Sells Share in Brazil-Bolivia pipeline, Eyes Petrobras' Assets

Jan 06, 2021

EIG Global Energy Partners has sold to Fluxys Belgium a portion of South America's biggest natural gas pipeline, clearing a regulatory obstacle to buying a bigger share of the Brazil-Bolivia duct, EIG's CEO said on Tuesday.U.S.-based EIG wants…

Oil Prices Jump 5% on OPEC+ Output Talks, Iran Tension

Jan 05, 2021

Oil prices climbed nearly 5% on Tuesday after news that Saudi Arabia will make voluntary cuts to its oil output, while international political tension simmered over Iran's seizure of a South Korean vessel.Brent crude futures rose $2.51, or 4…

Pandion Energy Acquires Part of Wintershall Dea's Interest in Two Offshore Blocks in Norway

Jan 05, 2021

Norwegian oil and gas company Pandion Energy has agreed to acquire interests in two offshore production licenses in Norway from Wintershall DEA.Pandion will acquire a 2.5 percent interest in PL 820 S and a 15 percent interest in PL 617, both in the North Sea…

Petronas, T7's Tanjung Offshore Ink Offshore Platform Deal

Jan 05, 2021

Malaysian oil company Petronas Carigali has awarded Tanjung Offshore a contract for the provision of a mobile offshore production unit.Tanjong offshore will be responsible for the provision, operation, maintenance, of the offshore platform, as part of Bayan Redevelopment Project Gas Phase 2…

Eni Hires PV Drilling VI Jack-Up for Drilling Offshore Vietnam

Jan 05, 2021

Vietnamese offshore drilling company PV Drilling has recently signed a contract with Italian oil giant Eni for the supply of its PV Drilling VI jack-up rig.The contract, with Eni Vietnam, is for the oil company's 2021 drilling campaign, scheduled to start in early January off the coast of Vietnam…

ExxonMobil Spuds Bulletwood Well, Offshore Guyana

Jan 05, 2021

U.S. oil major ExxonMobil has reportedly started drilling at the Bulletwood-1 well site on the Canje Block, offshore Guyana.The news was shared Tuesday by Westmount Energy, an indirect partner in the Canje Block. Westmount owns an indirect interest in the Canje Block as a result of its circa 7…

Eni Halts Sale of Australian Assets after Bids Fall Short

Jan 05, 2021

Italian oil and gas group Eni has put on hold the sale of Australian gas assets it values at around $1 billion after they failed to attract satisfactory bids, two sources close to the matter said, confirming a press report.One of the sources said offers had been well below what Eni had expected…

SOFEC Cuts First Steel for Sangomar FPSO Turret

Jan 05, 2021

Mooring systems provider SOFEC has cut the first steel for the turret mooring system being built for the Senegal-bound Sangomar field FPSO.SOFEC is responsible for all engineering, procurement, and construction (EPC) activities related to the…

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