Oilfield services companies are in bullish mode. They are now able to raise prices for their products and services, after several years of gloom.“Oil and gas investments are on the rise, and so too is the pricing power of service companies. After losing pricing power in 2015 and 2016…
Offshore engineering consultant Aqualis has completed the acquisition of the London-based Braemar Shipping Services' offshore, adjusting and marine consultancy business Braemar Technical Services (BTS).The new company, called AqualisBraemar…
Teekay Offshore Partners, midstream services provider to the offshore oil production industry, said that the agreement with Alpha Petroleum signed in October 2018 for Teekay’s Petrojarl Varg vessel to operate on Alpha’s 100%-owned Cheviot field was terminated…
Seismic survey company TGS-NOPEC Geophysical Company (TGS) said its shareholders have approved a deal to acquire rival Spectrum ASA.Kristian Johansen, Chief Executive Officer of TGS, said, “Spectrum’s portfolio will enhance TGS’ position as…
Delfin LNG LLC asked U.S. federal energy regulators for a three-year and six-month extension until March 28, 2023 to build facilities proposed to connect floating liquefied natural gas (FLNG) vessels off the coast of Louisiana.The U.S. Federal…
The new ship owning company Sverre Farstad & Co has taken ownership of a 2016-built platform supply vessel (PSV), marking a return for the Farstad name in the Norwegian offshore sector.Farstad was one of the parties behind the June 2017 three-way merger of Norwegian ship owners Solstad Offshore…
New Jersey on Friday selected Denmark's Orsted A/S to develop a 1,100-megawatt wind project off the coast of Atlantic City, the largest ever offshore wind procurement by a U.S. state.Orsted's proposal received unanimous approval at a meeting…
Baker Hughes, a GE company (BHGE) has opened its transformed Center of Excellence (CoE) facility in Montrose, Scotland to deliver engineering, manufacturing, test and assembly and services to advance deepwater technology for its customers.The upgraded and expanded campus…
Since the idea of floating liquefied natural gas (FLNG) was first mooted the landscape of the oil and gas sector has changed dramatically. When Shell finally pressed the go button for its Prelude FLNG project offshore Australia back in mid-2011…
Petroleos Mexicanos will focus on shallow water projects and onshore plays, and avoid investing in its deepwater riches for now, as the ailing Mexican state-run oil company seeks to turn around a 14-year slide in crude production, a top official said on Thursday…
Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world's oil output.Brent crude was up $0…
Danish-based Maersk Drilling said on Friday it has sold the Maesrk Giant jack-up drilling rig to the Poland's LOTOS Petrobaltic GroupThe rig will be renamed Giant, and the new owners will use the jack-up for drilling solely in the Baltic Sea…
An industry that operates in some of the harshest environments in the world sometimes needs to call on the toughest material for wear parts.Enter the industrial diamond, discovered in the 1950s. Synthetic diamondcan tolerate abrasive, high-temperature…
Siemens Gamesa Renewable Energy (SGRE) has secured its first preferred supplier nomination in the Japanese offshore wind sector, winning a preferred supplier status for a 455-MW project in Akita prefecture.The agreement with Obayashi Corporation currently includes using SG 8…
Japan's largest oil and gas exploration and production company Inpex Corporation has submitted a revised plan of development (POD) for the Abadi LNG Project, a gas field on the remote Masela Block in the Arafura Sea off Indonesia. The revised…
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