Offshore Energy News - page 370

 

Oil Hits $71 for First Time Since 2014

Jan 25, 2018

Brent reaches $71.20, highest since December 2014; U.S. crude inventories fall for a record 10th straight week. Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC-led supply curbs, a record-breaking run of declines in U…

Big Oil Flush With Cash Again, But No Party Yet

Jan 24, 2018

The world's top oil companies are expected to generate more cash in 2018 than at any other time this decade after three painful years of cuts, but it isn't party time yet.The shift in sentiment has been rapid as crude prices have risen by…

IEA Sees Oil Markets Tightening as PDVSA Output Sags

Jan 19, 2018

As U.S. oil output is poised to overtake Saudi Arabia, Venezuelan oil output is at 30-year low - and could fall further. Global oil markets are tightening quickly on falling supply from Venezuela, which posted 2017's biggest unplanned output fall and could see a further decline in 2018…

Venezuela's Oil Output Plummeted in 2017

Jan 18, 2018

Venezuela's oil production fell nearly 13 percent last year according to figures released by OPEC on Thursday, hitting a 28-year annual low that suggested a deepening economic crisis and increased chances of a debt default.The South American country produced 2…

Statoil: Global energy transformation needed

Jun 08, 2017

In Statoil’s 2017 Energy Perspectives report, the Norwegian giant says that immediate action is needed to transform the global energy system. Image from Statoil. Statoil is expecting substantial changes in the global energy mix…

ABS, DSME sign FLNG agreement

May 04, 2017

ABS, a provider of classification and technical services to the marine and offshore industries, signed an agreement with Daewoo Shipbuilding and Marine Engineering Co. (DSME) to support safety and apply class guidance to a conceptual floating liquefied natural gas (FLNG) unit…

SMD signs Van Oord Gemini contract

Apr 25, 2017

Soil Machine Dynamics Ltd. (SMD) has signed a contract with Van Oord for the manufacture and delivery of a QTrencher 1600. This contract follows the successful deployment of SMD’s QTrencher 1400 on Van Oord’s Gemini Wind Farm.  Scheduled for delivery in Q1 2018…

DEME to build first LNG-fueled CSV

Apr 18, 2017

Wärtsilä will supply the engines and other propulsion machinery for what it says will be the first LNG-powered offshore construction vessel, being built at the Cosco shipyard in China for Belgium's Dredging International (DEME). 'This…

Aqualis Offshore opens Taiwan office

Apr 11, 2017

Marine and offshore engineering consultancy Aqualis Offshore, part of Oslo-listed Aqualis, has opened up an office in Taiwan to support local offshore wind and oil and gas developments.  The purpose of the office is to promote Aqualis Offshore’s marine and engineering services locally…

PSA gives Polarled commissioning consent

Apr 05, 2017

The Petroleum Safety Authority Norway (PSA) has given Gassco consent to use the Polarled pipeline. Polarled is a new gas pipeline from Aasta Hansteen in the Norwegian Sea to the Nyhamna gas-processing facility in Møre og Romsdal county…

Trendsetter gets Leviathan contracts

Apr 05, 2017

Trendsetter Engineering has been awarded multiple contracts to design and manufacture subsea production equipment for Noble Energy’s Leviathan Project, a large natural gas field development in the Eastern Mediterranean Sea off the coast of Israel…

Parkmead increases Sanda stake

Apr 04, 2017

Parkmead, the UK and Netherlands focused independent oil and gas group, has nearly doubled its stake in the major Sanda North and Sanda South structures in the West of Shetland area of the UK North Sea. These two large Palaeocene prospects are both located within Block 205/13…

Snadd to increase Goliat reserves

Mar 30, 2017

Eni's Goliat reserves are set to increase by 1.2 MMcm or 7.5 MMbbl, following the approval to tie in the Snadd discovery in the Barents Sea, according to the Norwegian Petroleum Directorate (NPD).  Two wells will be drilled from Goliat…

Castex sets Hummer first oil for Q3

Mar 30, 2017

Petsec Energy is estimating first production at its Hummer oil and gas field in late Q3 2017. The company provided an update on the development of field, which extends over Main Pass Blocks 270, 273 and 274, in the Gulf of Mexico, offshore Louisiana…

GustoMSC orders Bosch Rexroth CJS

Mar 06, 2017

Bosch Rexroth has received an order from GustoMSC to engineer, manufacture and commission the drive and control system for GustoMSC's most recent model in its series of continuous jacking systems. It is intended for a Japanese construction vessel…

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