Latest Release

  • Seplat Announce Appointment of Non-Executive Director

    by Oil and gas press -

    The Board of Directors of Seplat Petroleum Development Company Plc., announced the appointment of Madame Nathalie Delapalme as a Non-Executive Director of the Company with effect from 18th July 2019. Madame Delapalme is an Independent Director on the Board of Directors of Maurel et Prom and has acted as an alternate to Maurel et Prom’s […]

  • Eni sells a 13.75% share in the blocks L11A, L11B e L12, to Qatar Petroleum

    by Oil and gas press -

    Eni and Qatar Petroleum (QP) today signed an agreement that will see the Qatari national oil company acquire a 13.75% share in the exploration blocks L11A, L11B and L12, in deep offshore Kenya. The proposed deal is pending subject to the approval of the Kenyan authorities. Blocks L11A, L11B and L12 are located in water […]

  • The Oil Crisis Saudi Arabia Can’t Solve

    by Oil and gas press -

    Saudi Arabia’s CEO Amin Nasr’s message to the press that oil flows to the market are guaranteed, should be taken with a pinch of salt.  Looking at the current volatility in the Persian/Arabian Gulf and the possibility of a temporary closure of the Strait of Hormuz, the Aramco CEO’s message might be a bit overoptimistic. In reality, […]

  • BP expands in renewable energy Sector, combining biofuels and biopower with Bunge in Brazil

    by Oil and gas press -

    BP has agreed to form a 50:50 joint venture with Bunge – a leader in agriculture, food and ingredients – that will create a leading bioenergy company in one of the world’s largest fastgrowing markets for biofuels. BP will combine its Brazilian biofuels and biopower businesses with that of Bunge to create a world-scale, highly-efficient […]

  • Eni announces new production from the Western Desert

    by Oil and gas press -

    Eni announced that production from South West Meleiha Development Lease, located in the Egyptian Western Desert, some 130 Km North of the oasis of Siwa, has started. The current production, delivered through two oil producer wells, is around 5.000 barrel of oil per day (BOPD) and is expected to reach 7.000 BOPD within September 2019. […]

  • Gulf War III and oil prices

    by Oil and gas press -

    The cynic in me cannot help but wonder at the convenient turn of events over the past few weeks. The sorry saga began with the UK detaining a tanker carrying Iranian oil at the start of July, citing concerns the oil was destined for sanctioned Syria. Iran’s Revolutionary Guard has now, as expected, retaliated with […]

  • EIA Financial Review: 1st Qtr. 2019 Report Released

    by Oil and gas press -

    Key findings; Brent crude oil daily average prices were 5% lower in first-quarter 2019 than in first-quarter 2018 and averaged $64 per barrel The 119 companies in this study increased their combined liquids production 4.3% in first-quarter 2019 from first-quarter 2018, and their natural gas production increased 2.3% during the same period Nearly two-fifths of […]

  • TechnipFMC Awarded Integrated EPCI (iEPCI™) Contract in the North Sea

    by Oil and gas press -

    TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract from Neptune Energy for the Seagull project, located in the Central North Sea. This contract is the second call-off under the recently announced five-year strategic global alliance agreement between TechnipFMC and Neptune Energy. TechnipFMC will manufacture, deliver […]

  • Eni starts the installation of the hull of Coral Sul FLNG

    by Oil and gas press -

    Eni has started installation works on the hull of the Coral Sul floating liquefied natural gas (FLNG) treatment and liquefaction unit that will be moored offshore in Mozambique. The unit is part of the Coral South project, which will put in production 450 billion cubic meters of gas from the giant Coral reservoir. The hull […]

  • LineStar Integrity Announces Acquisition Of Remote Operations Center

    by Oil and gas press -

    LineStar Integrity Services LLC (“LineStar”), a leading provider of pipeline integrity, maintenance and repair services, today announced that it has completed the acquisition of Remote Operations Center, LLC (“ROC”) and The Compliance Group, Inc. (“CGI”). LineStar is a portfolio company of First Reserve, a leading global private equity investment firm exclusively focused on energy. The […]

  • IEA launches new tool for tracking oil and gas-related methane emissions worldwide

    by Oil and gas press -

    The International Energy Agency has launched a new online tool that tracks oil and gas-related sources of methane, a major and often overlooked greenhouse gas. The new “methane tracker” offers the most comprehensive global picture of methane emissions, covering eight industry areas across more than seventy countries. This new and unique tool provides the IEA’s […]

  • IEA closely monitoring Strait of Hormuz situation

    by Oil and gas press -

    The International Energy Agency is closely monitoring developments in the Strait of Hormuz, including the recent seizure of a UK-flagged oil tanker, and stands ready to act if needed. The IEA considers that the right of free energy transit is critical to the global economy and must be maintained. The Strait of Hormuz is a […]

  • NNPC Records Trading Surplus of N6.33billon in May

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of N6.33 billon for the month of May 2019, a figure which is 13 per cent higher than the N5.60 billion surplus posted in the preceding month of April 2019. Details of the report contained in the May 2019 edition of the NNPC Monthly […]

  • McDermott, Chiyoda and Zachry Group Introduce Feed Gas to Train 1 at Freeport LNG

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) along with its partners, Chiyoda International Corporation and Zachry Group, announced today that Train 1 of the Freeport LNG Liquefaction project on Quintana Island in Freeport, Texas, has reached the final commissioning stage. This includes the introduction of feed gas into Train 1 of the natural gas liquefaction and LNG […]

  • Pemex presents its Business Plan 2019-2023

    by Oil and gas press -

    The company lays the foundations for its modernization, making it more competitive and guaranteeing its long-term financial viability. The plan consolidates Pemex as an engine of national development and guarantor of energy sovereignty. The high tax burden imposed on the company, its debt and low investment, have been the main problems that have trapped the […]

  • First Hybrid Electric Aircraft for Sale to General Aviation Pilots

    by Oil and gas press -

    Ampaire, a pioneer in practical applications of electric power for aviation, will begin accepting Letters of Intent for its Ampaire Electric EEL hybrid electric aircraft at the EAA AirVenture airshow next week. The EEL is a retrofit of a Cessna 337 and has a conventional combustion engine plus an electric motor/battery pack drivetrain. The company […]

  • McDermott Awarded Pre-FEED Contract by YPF

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) announced it has been awarded a sizeable* contract by Argentina-based YPF, S.A. to provide pre-front-end engineering design (Pre-FEED) services for a five million tonnes per annum (MTPA) LNG Liquefaction Facility, with a potential expansion to 10 MTPA, at the Vaca Muerta Shale field in Argentina. The scope of work is […]

  • McDermott Opens Expanded London Subsea Center of Excellence

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) today announced it has relocated its Subsea Center of Excellence from Epsom in Surrey to Bedfont Lakes office park near Feltham in London. The move follows the recent award of the Greater Tortue Ahmeyim Natural Gas Project, located offshore Mauritania and Senegal. McDermott and BHGE were awarded subsea umbilicals, risers […]

  • Equinor offshore wind bid wins in New York State

    by Oil and gas press -

    New York State governor Andrew M. Cuomo today announced Equinor’s Empire Wind as a winner in the State’s first large-scale competitive offshore wind solicitation.  The 816 megawatt (MW) offshore wind project will bring renewable energy to New York consumers, contribute to the State’s ambitious renewable energy development goals, and provide significant economic benefits to New York.  Equinor’s 816 […]

  • Winners of the Eni Award 2019 announced

    by Oil and gas press -

    Eni is announcing the names of the winning researchers and scientists at the 12th edition of the Eni Awards. The awards were established in 2007 and have become internationally recognised over the years in the fields of energy and environmental research. The Eni Awards aim to promote the better use of energy sources and encourage […]

  • Change at the top of Wintershall Dea in Brazil

    by Oil and gas press -

    Valerie Bosse is the new Managing Director of the Wintershall Dea Business Unit Brazil and is responsible for all previous Wintershall and DEA activities in the country. On 30 April 2019, the two German companies Wintershall Holding GmbH (Wintershall) and DEA Deutsche Erdoel AG (DEA) completed their international merger to form Wintershall Dea, which is […]

  • Energy Swan and Energy Scout – contract extensions

    by Oil and gas press -

    Golden Energy Offshore Services AS (GEOS-ME) announced that a contract extension has been secured for Energy Swan and Energy Scout. Energy Swan A contract extension has been secured with Wintershall Norge AS. The contract is in direct continuation of the charter contract from 2013. The large PSV Energy Swan was in 2013 chartered for a […]

  • Wintershall Dea committed to natural gas in Europe

    by Oil and gas press -

    Decarbonising the energy system is at the top of the European Union’s agenda. “The EU gas market will therefore change significantly against the backdrop of ambitious climate targets,” says Thilo Wieland, Member of the Board at Wintershall Dea: “Because one thing is clear: Europe will have to increase its use of natural gas in order […]

  • NNPC, Shell to Grow Nigeria’s Oil Reserves

    by Oil and gas press -

    The Management of the Nigerian National Petroleum Corporation (NNPC) and its age-long partner, Shell Petroleum Development Company (SPDC), on Tuesday expressed resolve to grow existing business relationship aimed at growing the nation’s crude oil reserves. Welcoming the high level Shell delegation led by the Vice-President of Shell Nigeria and Gabon, Mr. Peter Costello, to the […]

  • Eni and UNIDO sign Joint Declaration for public-private cooperation on Sustainable Development

    by Oil and gas press -

    Eni and the United Nations Industrial Development Organization (UNIDO) signed today a Joint Declaration, setting up a new, pioneering public-private cooperation model aimed at helping reach the UN’s Sustainable Development Goals (SDGs). The Declaration was signed by Eni’s Chief Executive Officer Claudio Descalzi and UNIDO’s Director General LI Yong in the presence of Giorgio Marrapodi, […]

  • World’s Largest Catalytic Dehydrogenation Plant

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) announced the recent successful startup of the world’s largest catalytic dehydrogenation plant, which is located at Hengli Petrochemical (Dalian) Refinery Co., Ltd.’s site in Liaoning Province, China, and uses McDermott’s Lummus CATOFIN® technology. This single-train dehydrogenation unit uses CATOFIN catalyst and Heat Generating Material (HGM) from Lummus Technology’s catalyst partner, […]

  • McDermott Awarded FEED Contract in Oman

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) announced it has been awarded a sizeable* contract by Total Oman E&P Development B.V. in partnership with Oman Oil Company S.O.A.C. to provide front-end engineering design (FEED) services for the Sohar LNG Bunkering Project in Oman. This project is intended to establish Oman as a regional LNG bunkering hub capable […]

  • Novara GeoSolutions Recognizes the Key Partners to Support the Pipeline & Utilities Industries

    by victoria Skogman -

    Novara GeoSolutions (Novara), an industry leader in providing consulting, engineering, geospatial technology and services for pipeline asset management announces its Novara 360° Framework, an asset management, regulatory compliance, risk and integrity management and operational support solution. Through this framework clients can receive everything from API RP 1173 and 49 CFR 192/195 guidance and understanding to […]

  • Improved recovery from Gudrun

    by Oil and gas press -

    The Gudrun partners have decided to invest in a water injection plant on the Gudrun field to improve reservoir recovery. This will extend the field life by three years compared to the original plan. “We are pleased about the partnership’s decision to invest NOK 2.4 billion in further development of the Gudrun field. Water injection […]

  • Aker BP Announce Oil discovery in the NOAKA area

    by Oil and gas press -

    Aker BP is about to complete the Liatårnet exploration well in licence 442 in the NOAKA area. The well has proved oil with a gross resource estimate of 80-200 mmboe. Further data acquisition and analysis will be undertaken to determine the drainage strategy and recovery factor for the discovery. Evy Glørstad-Clark, SVP Exploration in Aker […]

  • Gbetiokun-3 well in licence OML40 to be brought onstream

    by Oil and gas press -

    Eland Oil & Gas PLC (AIM:ELA), announced that a remedial tubing patch has been installed on the Gbetiokun-3 well in licence OML40. As previously announced (“OML40 Operational Update”, 25 June 2019) we have been undertaking necessary remedial work on the Gbetiokun-3 short string. The well was drilled as an appraisal well in Q4 2018 with […]

  • KCA Deutag Wins $168m of New Drilling Contracts in Russia

    by Oil and gas press -

    Global drilling and engineering contractor KCA Deutag (“KCAD”) is delighted to announce that its land drilling operation has won three new contracts in Russia worth approximately $168m. These contracts are for eight high performance land rigs, seven of which were previously built by Bentec, KCAD’s rig and oilfield equipment manufacturer. The first contract is with […]

  • Kværner ASA: Second quarter and half-year results 2019

    by Oil and gas press -

    Kvaerner’s second quarter and half-year result are in line with the financial targets for 2019. The EBITDA result for the Field Development segment was NOK 132 million in the second quarter compared to NOK 118 million in the same quarter last year. The corresponding EBITDA margin was 6.9 percent in the last quarter, up from […]

  • Occidental Increases Dividend

    by Oil and gas press -

     Occidental Petroleum Corporation (NYSE:OXY) said today that its Board of Directors has declared an increase of the company’s regular quarterly dividend to $0.79 per share. On an annual basis, the dividend is $3.16 per share at the new rate, compared to the previous annual rate of $3.12 per share. The $0.79 per share quarterly dividend will be payable on October 15, 2019, to stockholders […]

  • King Salman Energy Park (SPARK) signs agreement to establish Oilfields Supply Center

    by Oil and gas press -

    King Salman Energy Park (SPARK) and Dubai-based Oilfields Supply Center Ltd. (OSC) today signed an agreement to establish OSC as an anchor tenant at SPARK, an energy city megaproject which will cement Saudi Arabia’s position as a global energy, industrial and technology hub. In collaboration with Saudi Aramco, OSC will develop a business incubator, called […]

  • successful C-Kore deployment in Australian waters

    by Oil and gas press -

    C-Kore Systems has successfully completed another offshore campaign off the West Australian North West Shelf. C-Kore’s subsea testing tools quickly located the faulty subsea equipment allowing it to be replaced to make the field operational again. C-Kore’s subsea testing tools are used on fault-finding operations to quickly evaluate the health of the subsea equipment. Their […]

  • Murphy Oil Divest From Malaysia

    by Oil and gas press -

    Murphy Oil Corporation (NYSE: MUR) (“Murphy”) announced its subsidiary closed the sale to divest the fully issued share capital of the entities primarily conducting Murphy’s operations in Malaysia to a subsidiary of PTT Exploration and Production Public Company Limited (“PTTEP”). The transaction was previously announced on March 21, 2019, with an effective economic valuation date […]

  • Equinor JV for Floating offshore wind project in South Korea

    by Oil and gas press -

    Equinor , Korea National Oil Corporation (KNOC) and the Korean power company Korea East-West Power (EWP) have formed a consortium to develop the floating offshore wind project Donghae 1 off Ulsan in South Korea. The consortium is currently launching the development of a 200MW floating wind farm to be located close to the KNOC-operated Donghae […]

  • Robert M. Shearer Elected to Occidental Board of Directors

    by Oil and gas press -

     Occidental Petroleum Corporation (NYSE:OXY) announced today that Robert “Bob” M. Shearer, a former managing director of BlackRock Advisors LLC, has been elected to its Board of Directors. Mr. Shearer, 64, has over 35 years of experience in securities and leading investment management firms. Before retiring from BlackRock in 2017, he was co-head of BlackRock’s Equity Dividend team and […]

  • Eni Reports on the purchase of treasury shares during the period from July 1 to July 5, 2019

    by Oil and gas press -

    During the period from July 1 to July 5, 2019, Eni acquired n. 1,128,673  shares, at a weighted average price per share equal to 14.607701 euro, for a total consideration of 16,487,317.99  euro within the authorization to purchase treasury shares approved at Eni’s Ordinary General Meeting of shareholders on 14 May 2019, previously subject to […]

  • Subsea 7 awarded contract offshore Norway

    by Oil and gas press -

    Subsea 7 today announced the award of a sizeable(1) contract by Equinor(2) for installation and diving operations on the Europipe II, Heimdal and Statfjord (EHS) fields, located in the Danish and Norwegian sectors of the North Sea. The contract comprises engineering, procurement, construction and installation (EPCI) of pipeline end manifolds (PLEM), bypass and tie-in spools […]

  • Saudi Aramco awards contracts valued at $18 billion

    by Oil and gas press -

    Saudi Aramco has awarded 34 contracts with a total value of $18 billion for the engineering, procurement and construction of the Marjan and Berri increment programs. The company plans to boost the Marjan and Berri fields’ production capacity by 550,000 barrels per day of Arabian Crude Oil and 2.5 billion standard cubic feet a day […]

  • Total Divests Assets in the UK to Petrogas

    by Oil and gas press -

    Total has signed an agreement to divest several UK non-core assets to Petrogas NEO UK Ltd, the exploration and production arm of the Oman-based conglomerate MB Holding. Petrogas has partnered with Norway-based private equity investor HitecVision. Formerly owned by Maersk Oil, these assets are located in the Eastern North Sea and include the fields listed […]

  • Total Group’s greenhouse gas emissions: key figures

    by Oil and gas press -

    In response to the false information being circulated, the Total Group would like to recall that: Worldwide, greenhouse gas (GHG) emissions relating to Total-operated oil and gas facilities came to 42 million metric tons of CO2 equivalent in 2018. Given that global emissions amount to more than 50 billion metric tons per year, this represents less […]

  • Total and IFPEN Team Up to Accelerate Carbon Reduction R&D

    by Oil and gas press -

    IFP Energies Nouvelles (IFPEN) and Total announce that they signed a strategic R&D partnership yesterday, that includes an agreement to endow a chair at the IFP School, on carbon capture, utilization and storage (CCUS) and technologies to curb CO2 emissions. The roughly €40 million partnership covers a period of five years. The agreement has two […]

  • Ecuadorian Plaintiffs End Fraudulent Litigation Against Chevron

    by Oil and gas press -

    A group of Ecuadorian plaintiffs whose litigation against Chevron Corporation (NYSE: CVX) has been exposed as a fraud and bribery scheme by courts in the United States and elsewhere has ended its Canadian lawsuit against the company. Following dismissals of their claims in Argentina and Brazil, findings against them in the United States and Gibraltar, […]

  • Wall Street bank forecasts US oil output growth at 1.3 million bpd in 2019, 2020

    by Oil and gas press -

    Goldman Sachs said growth in US shale production is likely to outpace that of global demand at least through 2020 and limit gains in oil prices despite output curbs led by the Organization of the Petroleum Exporting Countries. The Wall Street bank forecast US oil output growth at 1.3 million barrels per day (bpd) and […]

  • Hess Shows Continued ESG Commitment

    by Oil and gas press -

    Hess Corporation (NYSE: HES) published its 2018 Sustainability Report today, providing a comprehensive review of the company’s strategy and performance on environmental, social and governance programs and initiatives “We believe sustainability is fundamental to our long-term strategy and performance and supports our purpose to be the world’s most trusted energy partner,” CEO John Hess said. […]

  • McDermott Announces Agreement with Cameron LNG

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) announced it and its joint venture member Chiyoda have reached an agreement with Cameron LNG related to the construction of its LNG liquefaction project in Louisiana. The agreement includes the following key components: Provides the opportunity for incentive bonus payments for achieving construction and commissioning milestones on specified dates for […]

  • Ithaca launches Senior Notes Offering

    by Oil and gas press -

    Ithaca Energy Limited (“Ithaca” or the “Company”) reports that its wholly-owned subsidiary Ithaca Energy (North Sea) plc (the “Issuer”) has launched an offering of $700 million in aggregate principal amount of senior notes due 2024 (the “Notes”) in connection with the previously announced acquisition of Chevron North Sea Limited (“CNSL”). Pending consummation of the acquisition, […]

  • Equinor capitalizes shares in Lundin Petroleum

    by Oil and gas press -

    Equinor ASA has agreed with Lundin Petroleum AB to divest a 16 percent shareholding in Lundin Petroleum for a direct interest of 2.6 percent in the Johan Sverdrup field and a cash consideration of around USD 650 million. “Since 2016 we have more than doubled the value of our investment in Lundin. This transaction gives […]

  • Africa Oil Announces Jethro-Lobe Spud Offshore Guyana

    by Oil and gas press -

    Africa Oil Corp. announced that drilling operations have commenced offshore Guyana with the spudding of the first exploration well on the Jethro-Lobe prospect on the Orinduik Block. View PDF version. Jethro-Lobe was spud at 22:45 (local Guyana time) on July 4, 2019 using the Stena Forth drillship. Partners on the Orinduik Block comprise Tullow Guyana […]

  • Jethro-Lobe Spud, Offshore Guyana

    by Oil and gas press -

    Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX-V: EOG), the oil and gas exploration company with licences in highly prospective regions in Guyana and Namibia, is pleased to announce that drilling operations have commenced offshore Guyana with the spudding of the first exploration well on its Jethro-Lobe prospect on the Orinduik Block. Jethro-Lobe was […]

  • Eni and Coldiretti sign MoU for joint projects

    by Oil and gas press -

    The President of the Confederazione Nazionale Coldiretti, Ettore Prandini, and the Chief Executive Officer of Eni, Claudio Descalzi, in the presence of the Minister of Economic Development, Labour and Social policies, Luigi Di Maio, have today signed a Memorandum of Understanding outlining key areas for collaboration with regards to the circular economy. The agreement will […]

  • Eni receives approval for the Abay subsoil use right

    by Oil and gas press -

    The Kazakh Ministry of Energy, KazMunayGas (KMG) and Eni signed a protocol of direct negotiations to grant the subsoil use right for exploration and production of hydrocarbons within joint operations on Abay, an offshore area in the Kazakhstani sector of the Caspian Sea. The Abay block is located in the northern part of the Kazakhstan […]

  • Neste to sell its fuel retail business to PJSC Tatneft in Russia

    by Oil and gas press -

    Neste Corporation has signed an agreement to sell its fuel retail business consisting of 75 fuel stations and a terminal in St. Petersburg region to PJSC Tatneft, one of the leading integrated oil and gas companies in Russia. The divestment has no impact on Neste’s Marketing & Services’ operations in Finland and the Baltic countries. […]

  • NNPC Concludes Payment of Cash-Call Arrears to Mobil

    by Oil and gas press -

    Nigerian National Petroleum Corporation (NNPC) signed a Cash-call Repayment Agreement with its Joint Venture partners to defray cash-call arrears within a period of five years, the Corporation has fully settled the total amount owed to Mobil Producing Nigeria (MPN) with a payment of $833.57m. The Group General Manager, Group Public Affairs Division of NNPC, Mr. […]

  • IMF Executive Board Concludes 2019 Article IV Consultation with Oman

    by Oil and gas press -

    On June 7, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Oman. Since the 2014 oil price shock, Oman’s policy efforts have aimed at strengthening the fiscal position, enhancing private sector-led growth and employment, and encouraging diversification. Economic activity started to recover last year, and the […]

  • Total Launches Phase 3 of the Dunga Field, Kazakhstan

    by Oil and gas press -

    Total and its partners have approved the launch of Phase 3 development of the onshore Dunga field in the Mangystau Region of western Kazakhstan. Phase 3 of the Total-operated field will consist of adding wells to the existing infrastructure and upgrading the processing plant to increase its capacity by 10% to 20,000 barrels of oil […]

  • More oil in the Oseberg area

    by Oil and gas press -

    Equinor has, on behalf of the Oseberg partners, made a profitable oil discovery related to Oseberg Vestflanken. The well was drilled by the Askepott rig and the discovery will soon be put on stream via the new, unmanned and remote-operated H platform on the Oseberg field. Included in the Oseberg Vestflanken phase 2 project, the […]

  • AFRICA OIL CORP. TO PARTNER WITH AZINAM ON BLOCK 3B/4B, OFFSHORE SOUTH AFRICA

    by Oil and gas press -

    Azinam Limited (“Azinam”), the Seacrest Capital-backed South West African-focussed oil & gas exploration company, announced that Azinam and Africa Oil Corp. (“Africa Oil”), have entered in an agreement under which Africa Oil shall acquire a 20% participating interest in Block 3B/4B Orange Basin, offshore South Africa. The acquisition is subject to customary regulatory consents, following […]

  • Dana Gas received $48 million from Egypt in June

    by Oil and gas press -

    Dana Gas PJSC (“Company”), the Middle East’s largest regional private sector natural gas company, has received payments of $48 million (AED 177 million) from its operations in Egypt in June. These collections comprise $38 million in payments from the government (of which $30 million as Dana Gas’ share of the industry payment) and $10 million […]

  • Saudi Aramco and Baker Hughes sign MOU

    by Oil and gas press -

    Saudi Aramco and Baker Hughes, a GE company (BHGE) signed a memorandum of understanding to create a new joint venture facility in Saudi Arabia to manufacture non-metallic materials which will be used in a variety of areas of the energy industry. This agreement supports Saudi Aramco’s strategy to play a leading role in accelerating the […]

  • Eni awarded a new Exploration and Production license in Ghana

    by Oil and gas press -

    Eni (70%) and its partner Vitol (30%) have been awarded rights to Block WB03, located in the medium deep waters of the prolific Tano Basin, offshore Ghana. This result allows Eni to further consolidate its presence in the Country. Eni will be the Operator of the license and besides Vitol the Joint Venture will include […]

  • Finboot Secures Cornerstone Repsol Investment and Blockchain Solution Contract

    by Oil and gas press -

    Finboot, a leading software innovation group creating enterprise-level products, announces that it has secured an investment from global energy giant Repsol as part of its latest fundraise, in addition to securing a commercial contract with the company. Repsol has acquired a c.8% stake in the company through its strategic investment fund. The funds will be […]

  • Blockchain technology for the energy sector

    by Oil and gas press -

    The start-up Finboot and the Repsol technology Center (Tech Lab) have conducted successful tests using blockchain technology to improve product certification processes. They have developed the application, BlockLabs, which used the digital equivalents of the samples to be approved to prevent the inefficiency and the costs associated with the “reworking” (Phone calls, emails, resending and […]

  • Africa Oil Announces Farmin to Azinam Block 3B/4B In South Africa

    by Oil and gas press -

    Africa Oil Corp. (“Africa Oil” or the “Company”) announced that its wholly-owned subsidiary, Africa Oil SA Corp., has entered into a definitive farmout agreement with Azinam Limited (“Azinam”), the Seacrest Capital-backed South West African-focussed oil & gas exploration company, whereby Africa Oil will acquire a 20% participating interest and operatorship in the Exploration Right for […]

  • Total Starts Up the La Mède Biorefinery

    by Oil and gas press -

    Total has started up production at the La Mède biorefinery in southeastern France, with the first batches of biofuel coming off the line. It is the final step in converting a former oil refinery into a new energies complex. Launched in 2015, the project represents a capital expenditure of €275 million. The La Mède complex […]

  • Eni extends collaboration for transporting Algerian natural gas until 2029

    by Oil and gas press -

    Claudio Descalzi, CEO of Eni, and Slim Feriani, Tunisian Minister of Industry, signed the new agreement for transporting Algerian natural gas through Tunisia, in the presence of the Prime Minister of Tunisia, Youssef Chahed. The agreement follows the ones reached with Sonatrach last May, in relation to the purchase of gas and transport in the […]

  • Sonatrach and Eni CEO meet in Algiers

    by Oil and gas press -

    Sonatrach and Eni Chief Executive Officers, Rachid Hachichi and Claudio Descalzi, met today in Algiers to review the progress made on the activities taking place in the country. Sonatrach and Eni confirmed the intention to accelerate the development of new oil&gas projects in North Berkine, that will lead to a significant increase in national production. […]

  • 6th OPEC and non-OPEC Ministerial Meeting concludes

    by Oil and gas press -

    The 6th OPEC and non-OPEC Ministerial Meeting was held in Vienna, Austria, on Tuesday, 02 July 2019, under the Co-Chairmanship of OPEC’s President, HE Manuel Salvador Quevedo Fernandez, People’s Minister of Petroleum of the Bolivarian Republic of Venezuela, and HE Alexander Novak, Minister of Energy of the Russian Federation. The Meeting recalled the rights of […]

  • Eni starts production from Area 1 offshore Mexico

    by Oil and gas press -

    Eni has started the early production phase from the Miztón field in Area 1, located in the Campeche Bay offshore Mexico. This is the first step in the development of Area 1, estimated to hold 2.1 billion of oil equivalent in place (90% oil) in the Amoca, Miztón and Tecoalli fields. Eni acquired Area 1 […]

  • Oceanteam Solutions extends subsea cable storage contract with cable manufacturers

    by Acole -

    The 6-months extension plus two times 3 months options follows a successful two years of cable storage in Oceanteam’s 1100t carousel at its cable storage facility in Velsen, the Netherlands. This extension is part of a contract that also includes long-term storage of client’s subsea cables in Oceanteam’s 5300t carousel. In 2017, Oceanteam Solutions was […]

  • Versalis (Eni) to launch a new type of expandable polystyrene (EPS)

    by Oil and gas press -

    Versalis, a chemical company and integrated producer of styrenic polymers owned by Eni, has developed and launched an innovative type of expandable polystyrene (EPS), under the trademark Extir® FL 3000. This material offers the industry an opportunity to increase sustainable products in sectors such as food packaging, industrial packaging (for appliances, furniture, and automotive vehicles), […]

  • NNPC Maintains Position as Largest Gas Supplier to Power Sector

    by Oil and gas press -

    The Nigerian National Petroleum Corporation (NNPC) has maintained its lead as the largest supplier of gas to the nation’s power sector, the NNPC Group Managing Director, Dr. Maikanti Baru, has declared. Dr. Baru, who made this disclosure during the inauguration, today, of a compendium produced by the Corporate Services Directorate of the NNPC in Abuja, […]

  • TechnipFMC Awarded Significant Subsea Contracts in India

    by Oil and gas press -

    TechnipFMC (NYSE: FTI) (PARIS: FTI) has been awarded significant(1) subsea contracts by Reliance Industries Limited for the MJ1 field located in deep water offshore India in the Krishna Godavari basin. These contracts cover the fabrication and installation of flexible risers, rigid and flexible flowlines and umbilicals. Arnaud Pieton, President Subsea at TechnipFMC, commented: “We are […]

  • The Oil Crisis Saudi Arabia Can’t Solve

    by Oil and gas press -

    Saudi Arabia’s CEO Amin Nasr’s message to the press that oil flows to the market are guaranteed, should be taken with a pinch of salt.  Looking at the current volatility in the Persian/Arabian Gulf and the possibility of a temporary closure of the Strait of Hormuz, the Aramco CEO’s message might be a bit overoptimistic. In reality, […]

  • Yamal LNG Ships First LNG Cargo to Japan

    by Oil and gas press -

    PAO NOVATEK (“NOVATEK” and/or the “Company”) announced that Yamal LNG shipped the first cargo of liquefied natural gas (“LNG”) to Japan in accordance with the long-term offtake agreement with TOTAL. The cargo was unloaded at the Tobata LNG Terminal in accordance with the buyers lifting and delivery schedule. “Commencing LNG shipments to the Japanese market […]

  • BP invests $30m in technology to produce animal feeds from natural gas

    by Oil and gas press -

    BP Ventures has made an investment of $30 million in Calysta, Inc., an alternative protein producer, that will use BP’s natural gas to produce protein for fish, livestock and pet feeds. The investment supports BP’s strategy of creating new markets in which gas can play a material role in delivering a more sustainable future and […]

  • ExxonMobil and Global Thermostat to advance atmospheric carbon capture technology

    by Oil and gas press -

    ExxonMobil and Global Thermostat said today that they have signed a joint development agreement to advance breakthrough technology that can capture and concentrate carbon dioxide emissions from industrial sources, including power plants, and the atmosphere.  ExxonMobil and Global Thermostat to advance breakthrough atmospheric carbon capture technology Technology removes carbon dioxide from industrial sources and the atmosphere Companies […]

  • W&T Offshore Acquires Producing Properties in the Gulf of Mexico

    by Oil and gas press -

    W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) announced that it has entered into a purchase and sale agreement with ExxonMobil Corporation (“ExxonMobil”) to acquire their interests in and operatorship of oil and gas producing properties in the eastern region of the Gulf of Mexico (“GOM”), offshore Alabama, and related onshore processing facilities for […]

  • Tenaris rebrands Saudi Steel Pipe

    by Oil and gas press -

    Tenaris, a leading supplier of tubes and related services for the world’s energy industry and other industrial applications, has announced that it will rebrand Saudi Steel Pipes (SSP), a welded pipe producer in the Kingdom of Saudi Arabia (KSA), to TenarisSaudiSteelPipes. The decision follows the integration of SSP into the global commercial and industrial network […]

  • KNPC Forms a Committee to Familiarize Foreign Workers with their Rights

    by Oil and gas press -

    KNPC announced the formation of a social welfare committee to familiarize foreign workers in their projects with their rights as per their contracts and the Kuwait Labor Law. The committee has conducted its first round at the Clean Fuels Project “CFP”, which includes the largest number of these workers, totaling about 50 thousand, working under […]

  • ADNOC Closes on Pipeline Infrastructure Investment With KKR and BlackRock

    by Oil and gas press -

    The Abu Dhabi National Oil Company (ADNOC) announced today that it has closed its pioneering pipeline infrastructure investment agreement with BlackRock and KKR. The transaction was originally announced in February of this year when KKR and BlackRock signed an initial investment agreement to invest $4 billion into the midstream pipeline assets. Following this announcement the […]

  • McDermott Awarded Offshore EPCI Contract from Saudi Aramco

    by Oil and gas press -

    McDermott International, Inc. (NYSE: MDR) announced a large* contract award from Saudi Aramco for engineering, procurement, construction and installation (EPCI) services in the Marjan and Zuluf fields, offshore Saudi Arabia. The contract includes the full suite of EPCI services for the relocation of Control Rooms in Zuluf GOSP-4, Marjan GOSP 2 and 3 including the […]

  • Neste appoints New Executive Vice President, Renewable Polymers and Chemicals

    by Oil and gas press -

    Mercedes Alonso, (M.Sc. Chem), has been appointed as Executive Vice President for Renewable Polymers and Chemicals of Neste Corporation and member of the Neste Executive Committee. She will join Neste on September 2019, at the latest, and will report to President and CEO Peter Vanacker. She will also be the Managing Director of Neste Germany […]

  • CSV Southern Ocean secures new charter contract with Fugro

    by Oil and gas press -

    CSV Southern Ocean will support Fugro for a Deepwater ROV subsea installation project off the coast of Sabah, Malaysia. Mobilisation of CSV Southern Ocean will start early July 2019 in Singapore and the works are expected to be completed sometime in the third quarter of 2019. Bourbon – Oceanteam’s CSV Southern Ocean has entered into […]

  • Massive crude carrier ‘New Journey’ unveiled in China

    by Oil and gas press -

    A Chinese state-owned shipmaker has built an enormous oil tanker which has a ‘smart’ system to manage its liquid cargo. On June 22, 2019, the global first smart VLCC- No.82 308k DWT Very Large Crude Oil Carrier was delivered successfully to China Merchants Energy Shipping Co., Ltd.(CMES) by DSIC, starting her maiden voyage from Dalian, […]

  • Baker Hughes and C3.ai Announce JV to Deliver AI Solutions Across the Oil and Gas Industry

    by Oil and gas press -

    Baker Hughes, a GE company (NYSE:BHGE) and C3.ai announced a joint venture agreement that brings together BHGE’s fullstream oil and gas expertise with C3.ai’s unique AI software suite to deliver digital transformation technologies that will drive new levels of productivity for the oil and gas industry. AI in the oil and gas segment helps improve […]

  • Equinor Awards sand screen services contracts worth one billion NOK

    by Oil and gas press -

    Equinor has signed three-year contracts with Tendeka AS and Baker Hughes Norge AS for providing sand screen services at a total value of around NOK one billion, including options for five two-year extensions. The contract awards were marked at Equinor’s head office at Forus on 26 June. The sand screen technology is based on a […]

  • Equinor and OMV have signed two MoU’s

    by Oil and gas press -

    Equinor and OMV have signed two memorandums of understanding (MoU) to cooperate on both the Wisting development in the Barents Sea and the concept development for the Hades/Iris discovery in the Norwegian Sea. Both MoUs were signed this week by Arne Sigve Nylund, Equinor’s executive vice president for Development and Production Norway, and Johann Pleininger, […]

  • Africa Oil Announces Heads of Terms Signed for Oil Development in Kenya

    by Oil and gas press -

    Africa Oil Corp. (“Africa Oil” or the “Company”) announced that Heads of Terms agreements with the Government of Kenya and joint venture partners, Africa Oil, Tullow Oil plc and TOTAL S.A. have been signed for the development of the oil fields in the South Lokichar Basin. View PDF Version. The Joint Venture Partners and the […]

  • Wood Announce significant growth in operating profit and margin improvement

    by Oil and gas press -

    Trading performance and outlook Performance in the first half is up on the prior year. Revenue is line in with H1 2018 and we have delivered earnings growth and margin improvement. Our operational margin improvement has been led by relative strength in energy related activity in Asset Solutions EAAA and in built environment activity within […]

  • Tullow issues statement on operational activities to 30 June 2019

    by Oil and gas press -

    Tullow Oil plc (Tullow) issues this statement to summarise recent operational activities and to provide trading guidance in respect of the financial half year to 30 June 2019. This is in advance of the Group’s Half Year Results, which are scheduled for release on Wednesday 24 July 2019. The information contained herein has not been audited and […]

  • Saudi Aramco advances global chemicals strategy with S-Oil expansion project

    by Oil and gas press -

    Saudi Aramco is advancing its global chemicals growth strategy with today‘s inauguration of S-Oil’s new Residue Upgrading Complex and Olefin Downstream Complex. The new facilities feature the latest refinery technologies, which have raised S-Oil’s petrochemical portion from 8% to 13% and includes high-value products such as propylne and gasoline. The inauguration of the complex was […]

  • Aramco signs 12 agreements with South Korean partners worth billions of dollars

    by Oil and gas press -

    Saudi Aramco and its affiliates signed 12 agreements with major South Korean companies to reinforce relationships with South Korea, expand international operations, and support the region’s energy security with the expansion of Arabian crude oil supply to Asian markets. Commenting on the agreements, Saudi Aramco President and CEO, Amin H. Nasser, said: “Only a few […]

  • Eni and IBM boost geological data interpretation via artificial intelligence platform

    by Oil and gas press -

    Eni (NYSE: E) and IBM (NYSE: IBM) announce the first results of a multiyear collaboration using artificial intelligence (AI) by launching the research platform “Cognitive Discovery”. The objective of the new platform is to support Eni’s decision-making during the initial stages of exploration phase, in order to significantly reduce the exploration risks linked to geological […]

  • Dolphin Drilling to declare Bankruptcy in absence of solution

    by Oil and gas press -

    Reference is made to the previous market communications of Dolphin Drilling ASA regarding its financial situation and restructuring efforts. As repeatedly communicated to the market, the Company is insolvent and operating at a loss. Following the secured lenders’ agreement to carry out a recapitalisation as set out in the Company’s market communication of 12 April […]

  • UK Offshore Wind Supply Chain Opportunities

    by Oil and gas press -

    The Offshore Wind Industry Council (OWIC) is launching a £100m, 10-year programme today to support the growth of UK businesses looking to capitalise on the huge opportunities offered by the growth in offshore wind around the world. The new initiative, the Offshore Wind Growth Partnership (OWGP), is a key part of the recent Sector Deal […]

  • Seplat Petroleum Announce Appointment of a new Company Secretary

    by Oil and gas press -

    Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), a leading oil and gas company dual-listed on The Nigerian Stock Exchange and London Stock Exchange, today announces: Resignation of a Non-Executive Director: The voluntary resignation/retirement of Mr. Macaulay Agbada Ofurhie from the Board of the Company effective 30th June 2019. Mr. Ofurhie was appointed to […]

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