Crude Oil News

 

Gulf States Will Take a Decade to End Oil Dependence

Jun 21, 2021

Countries in the oil-exporting Gulf will remain heavily dependent on hydrocarbon production for at least the next ten years as efforts to diversify economies have made limited progress since the 2014-2015 oil price shock, Moody's said.Reliance…

Early-season Gulf of Mexico Storm Trims Some US Oil Production

Jun 18, 2021

The first storm to hit oil-producing regions of the U.S. Gulf of Mexico this year sent workers fleeing offshore oil platforms and cut some production.A weather disturbance in the central Gulf of Mexico was expected to become a tropical storm on Friday…

Suncor, Partners Reach Tentative Deal on Future Path for Terra Nova FPSO

Jun 18, 2021

Canadian oil and gas company Suncor Energy said an agreement has been reached for the Terra Nova FPSO (and the namesake oil field) which was last year docked shoreside in Newfoundland after Covid-19 prevented the planned drydocking in Spain…

Norway's May Oil and Gas Output Tops Forecast

Jun 18, 2021

Norway's oil and gas production exceeded official expectations in May, preliminary data from the Norwegian Petroleum Directorate (NPD) showed on Friday.Crude oil output declined 4.2% from April to 1.654 million barrels per day (bpd) in May, while the NPD's forecast for the month had stood at 1…

Taqa Files Decommissioning Plan for Cormorant Alpha Platform Topsides

Jun 18, 2021

Oil and gas company Taqa has filed plans for the decommissioning of the topsides of the Cormorant Alpha platform in the North Sea.The Cormorant Alpha platform is located in Block 211/26 of the Northern North Sea (NNS),  approximately 103 km…

Esvagt Brings More Offshore Vessels into Service as Demand Spikes

Jun 18, 2021

Danish offshore vessel owner Esvagt is seeing an increase in activity and has brought more vessels into service to keep up.'Increased activity in the autumn and again this spring have brought more Esvagt vessels into service; most recently the ’Esvagt Castor’ and the ’Esvagt Carpathia’…

Biden May Hinder Oil and Gas Drilling Despite Court Loss

Jun 18, 2021

U.S. President Joe Biden’s administration has the power to stymie oil and gas development on government-controlled lands and waters, industry and environmental experts said, even though a court decision ended his freeze on federal drilling auctions…

Shell Teams Up with BKK, Lyse to Bid in Norway's 1st Offshore Wind Tender

Jun 17, 2021

Oil major Shell teamed up with Norwegian utilities BKK and Lyse to bid in the Nordic country’s first offshore wind tender expected next year, the companies said on Thursday.Shell has been active in oil and gas extraction on the Norwegian continental shelf for several decades…

Lime Petroleum to Buy Repsol's Stake in Brage Field Off Norway

Jun 17, 2021

Oil company Rex International said Thursday its subsidiary Lime Petroleum had on June 15 2021 agreed to acquire from Repsol stakes the Brage field and five nearby licenses in the North Sea, offshore Norway.The agreement includes the acquisition of Repsol’s 33…

Strike Averted as Norway Offshore Drilling Workers Agree Wage Deal

Jun 17, 2021

Three Norwegian labor unions agreed on a wage deal with the owners of floating offshore oil drilling rigs, preventing the outbreak of a strike that would have disrupted exploration, the unions said on Thursday.The deal between the Norwegian Shipowners' Association and the Industri Energi…

UTC: Norwegian Activity – and Focus on Emissions – Increasing

Jun 16, 2021

Activity on the Norwegian Continental Shelf (NCS) is going to be high in the next few years, but views on the longer-term outlook differ as the balancing act over demand for energy and a need to reduce emissions – at an ever greater pace – is played out…

North Oil Company Books JDC Jack-Up Rig for Al-Shaheen Operations

Jun 16, 2021

Offshore drilling contractor Japan Drilling Co., Ltd. (JDC) has secured an offshore drilling contract with North Oil Company in Qatar.JDC will provide its jack-up drilling rig Hakuryu-10 over a three-year contract at Qatar's giant offshore oil field Al-Shaheen…

Oil Price Hits New High Near $75

Jun 16, 2021

Oil extended its run of gains on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in U.S. crude inventories.The American Petroleum Institute reported U…

Far to Spud High-Impact Well Offshore The Gambia in 4Q Using Stena Drillship

Jun 16, 2021

Australian oil and gas company Far has hired Stena Drilling's Stena IceMax drillship to drill the Bambo-1 well offshore The Gambia. The well is expected to be spudded in the fort quarter of 2021.The Bambo-1 well in Block A2 is designed to drill into 3 prospects with a total estimated recoverable…

Lundin Energy Sells 'Carbon neutral' Oil to South Korea's GS Caltex

Jun 16, 2021

Lundin Energy has sold an oil cargo certified as carbon neutral at the point of production to South Korean refiner GS Caltex in the first such sale of crude from Norway's Johan Sverdrup field, the Swedish company said on Wednesday.Oil companies…

Current News

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Dutch Gov't Grants Subsidy for Offshore Green Hydrogen Project

"We'll vigorously defend," Keppel Says After FPSO Arbitration Request

"We'll vigorously defend," Keppel Says After FPSO Arbitration Request

Schlumberger Issues Bullish Forecast as 2Q Profit Beats Estimates

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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