Colin Welsh Good news at last! In recent months, I have endeavored to counter some of the gloom that has pervaded the oil business for the last eight quarters by highlighting fundamentals such…
Petrobas' pre-salt production has reached 40% of all the state-oil firm's production in Brazil and 12 more systems are due online in the Santos Basin alone by 2020, the firm has said. The milestone was reached as over all pre-salt production set new highs…
Elaine Maslin reports how Slovakian company GA Drilling hopes to make short shrift of section milling using a plasma-based downhole tool technology. Assembly of a plasma testing prototype. Photos from GA Drilling…
Oil major Shell has said it is to cut around 475 jobs from its UK and Ireland business by the end of this year as it further reduces its cost base. The firm has already announced more than 10,000 jobs cuts globally, including some 2800…
Bermuda listed Seadrill, and Norwegian drillers Odfjell and Sevan Drilling reported their Q1 results this morning. Intense focus on cost cutting and efficiency have helped all three, as it had with the likes of Ensco and Transocean,…
US supermajor Chevron will cut some 800 jobs in Thailand to keep in line with its plan to cut 4000 from the company this year, and its cost reduction efforts of US$500 million due to the downturn, according to news reports. Image from Chevron…
Oil major BP has bought a 16% stake in the high-pressure, high-temperature (HPHT) Culzean development project in the North Sea, doubling its stake to 32%. BP has acquired the stake from JX Nippon. Maersk Oil North Sea operates the US$4…
Erik Milito, director of upstream and industry operations, American Petroleum Institute (API), will serve as the first keynote speaker at the 12th Annual Deepwater Intervention Forum (DIF) in Galveston, Texas, on 10 August 2016. Milito…
For the first time, two sister platforms in an offshore wind farm will be connected by means of a bridge system with the aid of a new, flexible high-voltage cable with a conductor cross section of 800sq mm. This increases the guaranteed energy feed-in for the wind farm operator…
Shell announced on 15 May that production from the Brutus field in the US Gulf of Mexico has resumed following a leak at the nearby Glider field on May 12, which shut-in all production to the associated tension leg platform. While production…
Norway's DNV GL has been awarded a contract by China's COSCO Shipping Company for the installation engineering services for the BorWin gamma high voltage direct current (HVDC) converter platform. The Dutch-German transmission system operator…
Supermajor Shell and the US Coast Guard (USCG) concluded skimming operations in their joint response to the discharge of 2100 bbl (88,200 gallons) of crude oil at the Glider field in the Gulf of Mexico, the pair said late on 16 May. The joint response mobilized more than 150 people…
UK-based procurement services firm Craig International has launched, at OTC, a new platform to help oil and gas companies offload surplus stock and buy other products and equipment they need at competitive prices. Craig Collaboration…
Kory Kinney, of IHS, takes a look at some of the projects underway in the US Gulf of Mexico. As we move through 2016, construction activity in the US Gulf of Mexico has begun dwindling…
Apache is moving ahead with its Callater development in the Beryl area despite spending cut backs in its North Sea business. The firm has awarded Subsea 7 an engineering, procurement, installation and commissioning (EPIC) contract as part of its Callater field development…
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