New York won’t appeal its defeat in Exxon climate trial

New York said it won’t appeal a ruling by a judge who last month rejected the state’s claim. Mako-1 well is located southeast of the Liza field on the Stabroek Block. ExxonMobil issued the statement in response to the verdict from the Supreme Court of the State of New York. It misled investors for years about the energy company’s internal planning for risks linked to climate change. The agreement to optimize carbonate fuel cell technology for large-scale carbon capture. The Board of Directors of Exxon Mobil Corporation declared a cash dividend of $0.87 cents per share. It expands collaboration to...

Norway’s Barents Sea ambitions fading as more projects disappoint

Norway’s Barents Sea ambitions fading as more projects disappoint

Norway’s vision of establishing a new major oil province off its northern tip has suffered another blow. The study found Norway ranks as the 6th most expensive country to buy a tall latte. Norway’s consulting market was expected to cross the €1 billion mark. Norway Prime Minister Erna Solberg believes Norwegian women have been strengthened by the metoo campaign. Lundin Petroleum AB, one of the most active explorers in the Norwegian Arctic, cut resource estimates for its Alta discovery in the Barents Sea. Yoopies Norway has investigated the prices of nanny and daycare services. New YouGov study of 30,000 people...

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway. They still committed to meeting in March to decide on future production policies. OPEC set to further lose market share in 2020. Brent gives up all gains made after Iranian general killed. Angolan output posts biggest rise after maintenance. Guyana threaten the group’s efforts to defend crude prices. Brent crude was up 16 cents, or 0.2%, at $67.36 a barrel by 0155 GMT. The organization and its allies which together account for about half the world’s oil output are embarking...

ADNOC, Pertamina ink partnership for Indonesian infrastructure and LNG supply

ADNOC, Pertamina ink partnership for Indonesian infrastructure and LNG supply

Pertamina and ADNOC signed a Memorandum of Understanding (MoU). Company discuss critical issues facing the energy sector in a world that needs more energy but demands fewer emissions. Company announced a significant investment to upgrade its giant Bab onshore field. It explore potential development of a crude to petrochemicals complex in Balongan. Company announced its In-Country Value (ICV) Program has driven more than AED 26 billion ($7 billion). ADNOC will utilize Honeywell’s state-of-the-art asset monitoring. ADNOC will supply Pertamina with up to 528,000 MT of LPG by the end of 2020. Chandra Asri and ADNOC also signed a MoU to...

Gazprom Neft establishes digital development JV for Russian, global markets

Gazprom Neft establishes digital development JV for Russian, global markets

Gazprom Neft and ICS Holding have set up a joint venture to develop digital products for the oil and gas industry. Pursuant to the Protocol of December 20, 2019, Gazprom, Naftogaz of Ukraine, Gas Transmission System Operator of Ukraine. The Federal Agency for Mineral Resources approved the expert opinion. The development strategy for the new joint venture is aimed at addressing the challenge. This year has already become a landmark in the history of the gas industry. A tremendous amount has been achieved. The Gazprom Board of Directors took note of the information concerning the impacts of the events of...

Stress Engineering Services acquires Laserstream

Stress Engineering Services acquires Laserstream

Stress Engineering Services has acquired Laserstream, a technical service company specializing in laser mapping of tubular assets. Alan Carlock has received the 2019 Lifetime Achievement Award from the ANA Houston Lantern Awards of Texas. Dakota Dickerson clinched the Championship during Rounds 12 & 13 of the F3 Americas Championship powered by Honda. The acquisition will provide high-resolution pipe ID scanning hardware and imaging software while enhancing SES’s competencies within upstream. It previously separate tools have been fully integrated to significantly improve management of floating production facilities. Stress Engineering Services, Inc the global leader in consulting engineering services, has received an...

Hedge fund that won big shorting U.S. shale is bullish on Canada

Hedge fund that won big shorting U.S. shale is bullish on Canada

After big wins shorting U.S. shale companies last year, one energy hedge fund is turning its sights on the beaten-down Canadian oil sector. The Taiwan Futures Exchange (TAIFEX) is set to provide real-time market data feed from 23 March 2020. Akram & Associates, a boutique Public Accounting Firm specialising in accounting, audit and tax services. National law firm Seward & Kissel has promoted Kevin Neubauer to partner and Brian Maloney to counsel. After gaining 40% last year, according to a person familiar with the results, Westbeck Capital Management is betting Canadian firms. The global hedge fund industry returned +1.75 per...

CGG exits marine seismic acquisition business, kicks off marine streamer JV

CGG exits marine seismic acquisition business, kicks off marine streamer JV

CGG announced that it has completed its exit from the marine seismic acquisition business. CGG anticipates Q4 2019 segment Group revenue at $393 million. CGG announced that it is completing its exit from the seabed data acquisition business. CGG has completed JumpStart multi-client geoscience packages for the North West Shelf (NWS) of Australia. It following the earlier wind-down of its land seismic acquisition activities. CGG announced today a program to deliver the largest OBN multi-client survey ever conducted in the UK Central North Sea (CNS). CGG has established a Regional Geoscience Center in Abu Dhabi to deliver geophysical, geological. CGG...

Equinor to extend Statfjord field life with 100 new wells

Equinor to extend Statfjord field life with 100 new wells

Equinor and its partners in Norway’s Statfjord area have identified and approved plans to extend production from the field towards 2040. Equinor has acquired 6,500,000 shares in Scatec Solar, corresponding to 5.2 percent of the shares. A new business plan will ensure even higher use of resources, extract more value from the field. The shares purchased by DNB on behalf of Equinor on 10 December 2019. On 10 December Equinor completed the acquisition of a 50 % interest in the offshore wind development project. It allow plans for decommissioning Statfjord A in 2022 to be deferred. Equinor and Masdar have...

Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac has been selected by Petrogas NEO UK – a jointly owned company created by Petrogas E&P UK, and NEO Energy. Company announces a new contract and the award of an additional scope of work with Petroleum Development Oman (PDO). Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured a Project Management Services. Company establish its new North Sea operation following its recently announced asset acquisition. Petrofac employees based in the north-east of Scotland have raised £8,000 for a local youth homelessness and unemployment charity. Petrofac’s Engineering and Production Services...