Husky to resume full production at White Rose offshore Newfoundland

Husky to resume full production at White Rose offshore Newfoundland

Husky Energy announced it will resume production from the remaining two drill centers. The news release contains references to the non-GAAP financial measures “funds from operations”, “free cash flow”. Husky entered guilty pleas on federal and provincial charges related to a 2016 oil spill in Saskatchewan. Husky Energy (TSX:HSE) will hold its Investor Day in Toronto today to review and update its five-year plan. Husky Energy (TSX: HSE) has priced a $750 million US offering of senior unsecured notes. Husky will now begin an orderly restart and expects to reach full rates by early next week. Husky will not extend...

OPEC sees ‘somewhat bearish’ oil outlook even as market tightens

OPEC sees ‘somewhat bearish’ oil outlook even as market tightens

Global oil markets face a “somewhat bearish” outlook for the rest of the year amid slowing economic growth. Fed cuts interest rates, signals it may not need to do more. ConocoPhillips missed Wall Street estimates for quarterly profit on last Tuesday. The long-running trade war, even though supplies will be tighter than previously thought. Copper output began at the Chinese-owned Mirador mining project in southern Ecuador. Saudi to keep exports below 7 mln bbls in Aug, Sept official. The Organization of Petroleum Exporting Countries pumps about a third of the world’s oil. Marathon Oil Corp reported a 50% jump in...

Canadian petroleum agency approves Hibernia platform restart following spill

Canadian petroleum agency approves Hibernia platform restart following spill

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) issued approval to Hibernia Management. Today’s fiscal framework for natural gas development in British Columbia is a critical step to create a global. Global Energy Monitor published a misleading report titled. The Government of Canada’s new approval to build the Trans Mountain Expansion Project. Canada’s oil sector is missing a significant opportunity to benefit from the global commodity price. The development Company Ltd. (HMDC) to resume production operations at the Hibernia platform. It is now clear the federal government is ignoring the Senate and the will of Canadians. Canada’s next federal government...

Weatherford automated connection integrity system reaches deployment milestone

Weatherford automated connection integrity system reaches deployment milestone

Weatherford’s Vero automated connection integrity system, which applies artificial intelligence to validate well integrity. Weatherford International plc announced that Weatherford International, LLC is a Delaware limited liability company. Weatherford International plc unveiled Victus intelligent MPD. The integration accelerates ForeSite users’ ability to deep dive into their production data. Weatherford International plc. Weatherford International Ltd., and Weatherford International, LLC one of the largest multinational oilfield service companies. It minimize safety risks, has completed 15,000 tubular connections in 50 operations worldwide since its market debut. Weatherford International plc has announced the market launch of its AlphaST single-trip openhole cementing sidetrack system. Under...

Iran oil tanker released by Gibraltar, setting up race with the U.S

Iran oil tanker released by Gibraltar, setting up race with the U.S

Iran is racing to return an oil supertanker to international waters. The captain of an Iranian tanker seized in Gibraltar, provoking a diplomatic crisis between Tehran and London. The ship, the Grace 1, had been held in Gibraltar after British forces detained it last month. Iran on Sunday called Britain’s seizure of an Iranian oil tanker a breach of an ailing 2015 nuclear deal. On Iran, the primary focus was on how we ensure stability there. Foreign Minister Mohammad Javad Zarif said two oil tanker incidents in the Gulf of Oman. The Gibraltar Supreme Court on Thursday said American authorities...

Saudi Aramco offers no surprises in first earnings results call

Saudi Aramco offers no surprises in first earnings results call

Saudi Aramco’s senior executives can breathe a collective sigh of relief. Saudi Aramco announced for the first time its half-year financial results. 50 percent of contracts are being awarded to Saudi Arabian companies. Saudi Aramco signaled its commitment to cutting edge technology. Saudi Aramco and Baker Hughes signed a memorandum of understanding. Saudi Aramco is advancing its global chemicals growth strategy. The half-hour event was a pretty gentle affair with few questions that were likely to embarrass a company. Saudi Aramco and Air Products inaugurated the first hydrogen fueling station in Saudi Arabia. Finance chief Khalid Al-Dabbagh took questions from...

Aramco remains world’s most profitable company even as oil falls

Aramco remains world’s most profitable company even as oil falls

Saudi Aramco showed Monday it’s still the world’s most profitable company. Saudi Aramco announced for the first time its half-year financial results. Profit slid 12% to $46.9 billion in the first six months of 2019. 50 percent of contracts are being awarded to Saudi Arabian companies. Saudi Aramco signaled its commitment to cutting edge technology and developing global partnerships. It’s easily outstripped corporate titans such as Apple Inc. Amazon.com Inc. and other big oil producers. Saudi Aramco and Baker Hughes, a GE company (BHGE) signed a memorandum of understanding to create a new joint venture facility in Saudi Arabia. Saudi...

Saipem taps DNV GL for digital twin system

Saipem taps DNV GL for digital twin system

Saipem, the energy and infrastructure solution provider, is implementing DNV GL’s hull planned maintenance system. Saipem will establish a spool-base on Greenwood Island, Pascagoula, Mississippi. Saipem has been awarded new contracts in offshore drilling in Romania. A memorandum of understanding has been signed with Plambeck Emirates LLC for the development and construction. It building the new Saipem on the basis of the traditional business for as long. It will start with Saipem 7000, one of the world’s largest crane vessels with a lifting capability of 14,000 tons at 42 meters. Saipem has been awarded new contracts in offshore drilling in...

Tullow makes significant oil discovery offshore Guyana

Tullow makes significant oil discovery offshore Guyana

Tullow Oil has made its first discovery in its Orinduik license offshore Guyana. Tullow Oil plc (Group) announces that a judgment in the English Commercial Court case brought against its wholly owned subsidiary. Tullow Oil plc (Tullow) is pleased to announce the appointment of Dorothy Thompson as independent non-executive Director. Company exceeding pre-drill forecasts and paving the way for more exploration wells in the near future. Tullow Oil plc announces that it intends to offer $650 million in aggregate principal amount. Company is pleased to announce that it has completed the refinancing of US$2.5 billion of Reserves Based Lending. Company...

COOEC Offshore and Expro form international riserless well intervention alliance

COOEC Offshore and Expro form international riserless well intervention alliance

China-based COOEC Offshore has formed an alliance with international oilfield services company Expro. The Liuhua 16-2 turret-moored floating production and storage and offloading facility will be anchored in 390-420. It expanding the riserless Well Intervention (RWI) capabilities and resources. The central platform recently departed the COOEC-Fluor yard in Zhuhai. Fluor Corp. and Offshore Oil Engineering Co. (COOEC) have formed a new joint venture. The Kenli 10-1 field offshore China is now online. COOEC Offshore, as a division of COOEC, is a large offshore engineering contractor. InterMoor has completed two major offshore projects for China Offshore Oil Engineering Corporation (COOEC). Norway’s...