While at first the oil price seemed to spur a rash of big M&A deals in 2014 and early 2015, analysts at GlobalData and IHS say the market could slow if the oil price doesn’t increase. Jeannie Stell reports. Image from Baker Hughes…
Baker Hughes’ revenue of US$4 billion in 2Q 2015 marked a 33% drop year-over-year, and the company says it sees no relief in 2H 2015 as unfavorable market dynamics are expected to continue. Image from Baker Hughes Facebook…
West Texas Intermediate crude (WTI) fell below US$50/bbl, to $49.93/bbl, on 20 July for the first time since April, despite reports that Saudi Arabian exports have fallen to their lowest in five months. According to statistics published by the Energy Information Agency (EIA)…
French oil major Total has started production from its Dalia Phase 1A project, boosting the firm’s deep water Block 17 offshore Angola production by some 30,000 b/d. The Dalia Phase 1A project involves drilling of seven infill wells,…
Research from NEL, the flow measurement research and development specialist, reveals that the North Sea oil and gas sector could be misreporting more than £700million per year. This is due to its reliance on the American AGA-8 standard to measure gas composition of North Sea fields…
Italy's Eni has discovered gas at the Nooros exploration prospect in the Abu Madi West license, in the Nile Delta, offshore Egypt. Preliminary estimates of the discovery account for a potential of 15 Bcm of gas in place with upside, plus associated condensates…
GDF Suez' Cygnus Alpha compression module (ACM) sailed away from Heerema Fabrication Group's Hartlepool facility on the night of 20 July, marking the completion of last of four main structures built at the facility for the Cygnus development…
Chevron information technology teams from around the world put their stamp on Jack/St. Malo, providing the technical support that helped the major capital project achieve first oil in the deepwater US Gulf of Mexico (GOM), reports the company…
Halliburton’s 2Q 2015 results have the company in the red, with a 16% drop in its total revenue, compared to 1Q 2015, that the company says is due to the industry’s recent downturn. Image from Halliburton…
Chinese shipbuilder, SINOPACIFIC Shipbuilding Group won the bid for the construction of nine anchor handling tug supply (AHTS) vessels for Abu Dhabi National Oil Co. (ADNOC) and its wholly owned subsidiary, ESNAAD. The design that won the bid is the SPA80A…
Vallianz Holdings has chalked up another major string of contracts in the Middle East, taking its 2015 order book to over US$1 billion - a record for the fast growing firm. The latest contracts for Singapore-based Vallianz, which provides…
UK-based Cluff Natural Resources says it has made 'significant progress' on its plans for exploration drilling in southern North Sea licenses. The company was formed to exploit underground coal gasification (UCG), but it is also exploring for natural gas in the southern North Sea…
Image: Heydar Aliyev/Maersk Drilling Maersk Drilling has been awarded a five-year contract extension for the semisubmersible Heydar Aliyev rig with BP Exploration (Shah Deniz) acting as operator of the Shah Deniz field…
The weak oil market is causing a restructuring at Wärtsilä’s Ship Power business that will result in rebranding the company and a loss of 600 jobs that will ultimately save Wärtsilä approximately US$43 million (EUR 40 million) annually. Image…
The Bureau of Safety and Environmental Enforcement (BSEE) inspected Shell’s drilling rigs for its US$1 billion Arctic drilling program, the Noble Discoverer, Polar Pioneer and the Fennica icebreaker vessel in Alaska. Pre…
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