China's government has appointed a senior oil industry executive as the country's top energy official, state-run media China Energy News reported on Wednesday.Zhang Jianhua, president of China's largest oil and gas group CNPC, has been named director of the National Energy Administration…
TechnipFMC announced on Wednesday it has signed a five-year Surface Technologies Frame Agreement with Chevron to cover the exclusive supply of surface wellhead equipment and service in the U.S. and Canada.Richard Alabaster, President of TechnipFMC’s Surface Technologies business…
Fear of a new oil demand/supply imbalance has rattled the oil market.Market sentiment has suddenly shifted. Fear that Iran sanctions will cause oil prices to spike to $100+ has been superseded by concern that prices are heading south with no bottom in sight…
A report back in 2014 from numbers crunchers Rystad Energy — about the timing of an upturn for subsea engineering — appears to be proving largely true. Recovery, it said, would begin haltingly in two parts: first subsea services and then subsea equipment…
Russian state bank VTB did not finance the recent deal by Qatar to buy a stake in Rosneft and it is verifiable by looking at who has the oil giant's shares as collateral, Rosneft CEO Igor Sechin said on Wednesday.Reuters reported last week that…
New technology from Schlumberger delivers well testing performance data in real-time.Schlumberger has introduced well testing live performance technology at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC). The new technology…
Subsea and offshore solutions provider Unique Group, together with engineering, construction and equipment rental company Innovo, have completed a multimillion dollar decommissioning contract for Italian marine oil and gas contractor Saipem offshore Saudi Arabia…
Wind power is set overtake coal, nuclear and gas to become the EU’s largest power source well before 2030. This is according to the International Energy Agency’s (IEA) 2018 World Energy Outlook.According to the IEA’s projections, wind energy will become the EU’s largest power source in 2027…
UK-based Corallian Energy has revealed that the UK Government had looked favourably upon its plans for two offshore exploration wells.The Offshore Petroleum Regulator for Environment and Decommissioning, which sits within the Department for Business…
Norway's Subsea 7 subsidiary Seaway Offshore Cables (SOC) has won a contract to supply and installation of the export and inner array grid cable system for the Yunlin Offshore Wind Farm project by YunNen Wind Power Company, a company of the WPD Group…
Norway's Eidesvik Offshore said that a company in the group has entered into an agreement with a CGG subsidiary for a new contract for the source vessel Veritas Viking.The contract is 5 months firm with further options and will commence ultimo November 2018…
A range of cutting-edge technologies, including specialized drilling equipment, custom subsea systems and purpose built floating production storage and offloading (FPSO) units, help Brazilian national operator Petrobras and its partners tackle…
A developer of real-time 3D sonar technology and real-time subsea intelligence has launched a new product that uses artificial intelligence (AI) to automatically detect and recognize distinct underwater objects.Coda Octopus announced Tuesday…
Oil's slide accelerated on Tuesday, with U.S. futures suffering their steepest one-day loss in more than three years due to ongoing worries about weakening global demand and oversupply.U.S. futures closed down 7.1 percent, for a record 12th straight decline and the lowest since November 2017…
The floating production storage and offloading (FPSO) unit Aoka Mizu's planned stop in Algeciras, Spain will be extended for additional repair work, said U.K. based Hurricane Energy.The FPSO, which will be used at Hurricane's Early Production…
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