Offshore wind is headed toward new highs with the North Sea region serving as the backbone of the global market, says Douglas-Westwood’s Celia Hayes. Image from iStock. The offshore…
North Sea exploration firm Independent Oil and Gas (IOG) has agreed to buy Oyster Petroleum off Verus Petroleum (previously Bridge Energy) for up to £3.25 million (US$4.6 million). The move will see IOG take over 320.7 Bcf (53.45 MMboe)…
The next five years will bring a reshaping of the global gas trade, the International Energy Agency (IEA) said in its 2016 Medium-Term Gas Market Report. New liquefied natural gas (LNG) supplies are coming online just as demand growth in some major markets weakens…
Atlantic Petroleum entered into a US$1.1 million (DKK 7 million) sale and purchase agreement with Bridge Petroleum for its 25% interest in the Orlando development, offshore the UK. The deal also includes a deferred consideration in the…
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…
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,…
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…
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…
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…
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…
US supermajor Chevron has taken a big fall in Q1 2016, reporting a loss of US$725 million, compared to earnings of $2.6 billion in the same period last year. Image of Jack/St. Malo, from Chevron…
Cyprus-based Ocean Rig has stepped in to buy the sixth generation ultra-deepwater (UDW) drillship Cerrado, which once drilled the giant Libra prospect offshore Brazil, following its owner Brazil-based Schahin Group bankruptcy declaration last April…
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