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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Oil&Gas Drilling
11-04-2023

GCC Drilling Rig Supply to Increase by 11PC Between 2023- 2027
The first quarter of 2023 has continued the trend of land rigs from the latter stages of 2022, with utilisation remaining high in the US and Gulf Cooperation Council (GCC) countries. The GCC in particular has seen strong demand, with an average rig utilis
Oil Exploration
11-04-2023

Pemex Por Confirmar Más de 200 Mmbpce en Tupilco
El director general de Pemex informó que el pozo delimitador Tupilco 1DEL está por confirmar más de 200 millones de barriles de petróleo en el yacimiento.El director general de Petróleos Mexicanos (Pe
Hydrogen Project
10-04-2023

Hydrogen vs Oil and Gas: Comparing Energy Sources
Ever wondered about the differences between hydrogen fuel and oil and gas? Well, you’re in luck because that’s exactly what we’re going to chat about today. As our world continues to evolve, we need to explore cleaner and mor
Oil Exploration
10-04-2023

DNO Ready to Deploy Well Intervention Vessel at North Sea Field
Norwegian oil and gas company DNO has received consent from the country’s offshore safety regulator to use one of Island Offshore’s mobile offshore units (MOU) for work on a field offshore Norway.Island Constructor vessel; Source: Isla
LNG Carrier
10-04-2023

Race Against Time Begins as Euronav’s Former VLCC Heads to Decaying Fso Safer to Prevent Catastrophic Oil Spill
A very large crude carrier the Nautica, bought last month by the UN Development Programme (UNDP) from Euronav, as part of UNDP’s coordinated operation to remove oil from decaying FSO Safer, has set sail from Zhoushan, China heading for the Red S
Oil Exploration
10-04-2023

Greenlight for vår Energi to Put Floatel Unit to Work at North Sea Field
Norwegian offshore safety regulator has given Vår Energi consent to deploy one of Floatel’s semi-submersible support vessels at a field in the North Sea off Norway.Floatel Superior; Source: FloatelThe Petroleum Safety Authority Norway
Oil & Gas Supply
10-04-2023

India Revises Gas Pricing Mechanism With Link to Crude
India has approved a revised natural gas pricing mechanism under which domestically produced gas will be benchmarked to 10pc of global crude prices and revised every month, effective from 8 April.The new pricing formula includes a floor price set at $4/mn
Oil & Gas Trade
10-04-2023

Oil Posts Third Weekly Gain After OPEC+ Cuts and Inventory Declines
An oil tanker at the Sheskharis complex in Russia. The country has extended its 500,000 bpd cut until the end of the year. AFPOil posted a third weekly gain after Opec+ and its allies surprised the market last weekend with production cuts and US inventori
Oil & Gas Supply
07-04-2023

Western Curbs on Russian Oil Products Redraw Global Shipping Map
Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns.As a result of the Europe
LNG
07-04-2023

Tellurian Strikes $1 Bil Deal to Sell and Lease Back Land for Driftwood LNG Project
US developer Tellurian said it has signed a $1 billion sale and leaseback deal for the 800-acre property where it is developing its proposed Driftwood LNG terminal in Lake Charles, Louisiana, as part of the company's efforts to secure the financin
Oil&Gas Drilling
07-04-2023

Aker BP Gearing Up to Spin the Drill Bit off Norway
Norwegian oil and gas player Aker BP has secured a drilling permit from the country’s authorities for an exploration well in the Norwegian Sea. The drilling work is expected to be carried out using one of Saipem’s rigs.Scarabeo 8 rig;
Oil&Gas Drilling
07-04-2023

Halliburton Backs Repsol With Well Construction Suite
Spanish oil company Repsol has implemented a well construction solution from Halliburton in order to automate and streamline its well design process.Illustration; Source: HalliburtonAccording to Halliburton, the Landmark DecisionSpace 365 Well Constructio
Oil Pipeline
06-04-2023

NCDMB Performs Groundbreaking of Pipe Manufacturing Plant at Polaku
The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has performed the groundbreaking ceremony of a pipe manufacturing plant at Polaku Bayelsa State, being promoted by AS Energies Limited. The plant
Natural Gas
06-04-2023

IDC to Fund Kinetiko-Afro Energy JV for South Africa Gas Development
Australian firm Kinetiko Energy has announced that the Industrial Development Corporation of South Africa (IDC) has advanced R16,300,000 as part of its R70,000,000 commitment into its joint venture with Afro Energy, the proposed 100% subsidiary of Kinetik
Natural Gas
06-04-2023

Totalenergies and the Iraqi Government Make Plans to Move Forward With Gas Growth Integrated Project
While confirming all the terms of the Development & Production Contract signed in 2021, TotalEnergies and the Iraqi Government have, through exchanges in the past months, including in four occasions between Prime Minister Al-Sudani and Chairman &
Market Analysis
06-04-2023

GECF Unveils 4th Annual Gas Market Report
Doha, QATAR – 5 April 2023: The Gas Exporting Countries Forum (GECF) is pleased to announce the launch of the fourth edition of its Annual Gas Market Report (AGMR). The Report provides an in-depth analysis of natural gas markets, covering recent
Energy Investment
06-04-2023

Expending Business in Romania Oil Dynamics Wins Tender With OWV Petrom
OMV Petrom SA and Oil Dynamics GmbH have recently signed a five-year supply and service agreement for the provision of Electric Submersible Progressive Cavity Pumps (ESPCP) in Romania.In order to carry out the contract in the well-known Oil Dynamics quali
Oil&Gas Drilling
05-04-2023

2nd Asset Integrity Management Conference
We are thrilled to announce that the 2nd Asset Integrity Management Conference - Qatar will be hosted by Cogent Event Management Solutions on May 23-24, 2023 in Doha, Qatar. The conference promises to bring together industry leaders and professionals to e
Oil Exploration
04-04-2023

Fresh Batch of Offshore Contracts Brings Saipem $650 Million
Italian oilfield services provider Saipem has been awarded three new offshore engineering, procurement, construction and installation (EPCI) contracts and two front-end engineering design (FEED) competition deals, totalling approximately $650 million.Saip
LNG
04-04-2023

BAKER HUGHES RECEIVES MAJOR LNG ORDER FROM QATARENERGY
Baker Hughes announced an order to be booked in the first quarter of 2023 with longtime partner QatarEnergy to supply two main refrigerant compressors (MRCs) for the North Field South (NFS) project, which will be executed by Qatargas. The MRCs are part of
Natural Gas
04-04-2023

ACCC No Longer Forecasts Gas Supply Shortfall
The east coast gas market should see sufficient gas supply for 2023, as the latest report from the Australian Competition and Consumer Commission (ACCC) indicates that previous concerns have been solved.In August 2022, when the ACCC forecast a shortfall o
Oil Pipeline
03-04-2023

Sri Lanka & India in Talks for an Oil Pipeline From India to Trincomalee Port
Sri Lanka's President, Ranil Wickremesinghe, on Tuesday, March 28, disclosed that his government is in discussions with India to construct an oil pipeline to transport fuel to the Eastern Port of Trincomalee.According to a news report published by
Natural Gas
03-04-2023

IEC Eyes Maiden Gas Field Development in Indonesia
New York-listed upstream independent Indonesia Energy Corporation (IEC) is negotiating an extension for its producing Kruh block onshore Sumatra, Indonesia, where it is hoping to exploit gas alongside the already flowing oil.IEC unexpectedly found evidenc
Crude Oil
03-04-2023

Surprise Move: OPEC+ Announces Deep Production Cuts to Stabilise Crude Markets
Together with Russia’s announced production cuts, Opec+ move spells output cuts of 1.6 million barrels per daySaudi Arabia, the United Arab Emirates (UAE) and other key oil-producing members of the wider Opec+ alliance have announced surprise pr
Oil & Gas Trade
03-04-2023

EU to Maintain Russian Oil Price Cap at $60
The European Commission told member states that a $60-a-barrel cap on the price of Russian oil is proving effective in hurting the Kremlin’s access to petrodollars while not disrupting the market, and will remain unchanged for now.The bloc&r

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