Iraq's Basra Oil Co is preparing to tender for a water injection project vital to increase its oil production capacity if talks with Exxon Mobil fail, the head of the oil ministry's licensing and contracts office said. 'We cannot wait for…
The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. Such strong growth in demand is consistent with Shell’s first LNG Outlook…
Only a few days after the first Gravity Based Foundation was installed, the project team of Jan De Nul Group floated off and installed the second and even larger GBF for the offshore wind farm Kriegers Flak in Denmark. The weather was favourable and the installation operation of this 10…
Offshore rig firm Borr Drilling, controlled by Norwegian investor Tor Olav Troeim, is proposing to buy its rival Paragon Offshore for $232.5 million in a push to consolidate the fragmented rig market, it said on Thursday. A plunge in oil…
Drilling contractor Transocean Ltd on Wednesday expressed optimism about a recovery in offshore drilling activity this year, despite reporting its third quarterly loss in a row. Companies that provide services and equipment for oil and gas exploration and production…
Monday U.S. holiday pulls WTI's Friday gain into Tuesday. Brent crude oil prices eased on Tuesday, pulled down by a stronger dollar and a bout of profit-taking, while U.S. futures gained, bringing the discount between the two key futures contracts to a six-month low…
As part of a framework agreement with Dubai Petroleum, Cyberhawk was appointed to inspect more than 350 risers on 63 offshore platforms. The inspection took only one month to complete, followed by the production of over 90 detailed engineering inspection reports…
GTT announces it has received several orders, since the beginning of the year, for the equipment of three LNG Carriers (LNGCs) and one bunkering vessel. The three LNGCs, offering capacities ranging from 174,000 to 180,000 m3, will be built…
British oil major BP, which operates a number of oil and gas fields in Azerbaijan, plans no maintenance shutdowns of platforms there this year and intends to advance with new projects, BP's regional president told Reuters. 'There aren't any turnarounds planned for this year…
Lawmakers in coal-producing Utah and Wyoming, faced by a shrinking market for the fuel, this week introduced laws to fund legal challenges in California and Washington of policies that they believe hurt coal sales. A Utah lawmaker on Monday…
BP is looking to invest over $1 billion in Egypt this year, making the country once again a top destination for investment, its CEO said on Monday.Speaking at an industry event in Egypt, Bob Dudley said the company was no longer owed any money by the Egyptian government…
Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly losses in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies. The drop came amid a rout in global equity markets sparked by inflation fears…
Buzzard oilfield restarts, pumping below full rate-source; Forties has temporary flow restriction. Oil and natural gas flows along Britain's biggest and most important oil pipeline, Forties, were ramping up slowly on Thursday as the system…
Swiss offshore services firm Allseas is planning to build a vessel big enough to be able to remove the world's largest oil and gas platforms when they reach the end of their production lives, its chief executive said. The vessel, to be called Amazing Grace…
The West Hercules semi-submersible rig has been contracted for drilling two exploration wells in the Barents Sea in 2018, and options to drill another five exploration wells. Statoil and the licence partners have signed a contract with North…
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