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

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...

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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...

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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...

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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....

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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...

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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...

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Permian pipeline competition accelerates as capacity exceeds supply

Permian pipeline competition accelerates as capacity exceeds supply

Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production. The approach of Hurricane Dorian toward Florida also raised fears that offshore U.S. crude producers may slow output if the storm passes into the Gulf of Mexico. Limited natural gas pipeline takeaway capacity in the region...

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McDermott in talks with lenders to file bankruptcy

McDermott in talks with lenders to file bankruptcy

McDermott International shares fell for a second day after reports that the company is negotiating. Project team remains focused on safety and quality performance. McDermott’s Lummus Technology will upgrade existing unit for production of higher value products utilizing Indmax FCC. Technology award for Next Wave Energy Partners, LP grassroots alkylate production facility in Pasadena, Texas....

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Exxon expands Eastern Mediterranean offshore holdings

Exxon expands Eastern Mediterranean offshore holdings

ExxonMobil has secured more than 1.7 million acres for exploration offshore Egypt. Increases polyethylene plant production capacity by 65 percent or 650,000 tons-per-year. It acquires more than 1.7 million acres offshore Egypt. Mako-1 well is located southeast of the Liza field on the Stabroek Block, which began producing oil Dec. 20, 2019. Production for Liza...

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Apache, Total form Suriname offshore exploration joint venture

Apache, Total form Suriname offshore exploration joint venture

Apache and Total announced a joint venture agreement to explore and develop Block 58 offshore Suriname. Everybody in the offshore oil and gas business has heard of the new oil El Dorado- Guyana. Kosmos Energy has again failed to unearth oil at an exploration well offshore Suriname. Offshore oil and gas company Kosmos Energy will...