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Colombia seeks $1 billion Ecopetrol dividend, amid massive civil unrest

Colombia seeks $1 billion Ecopetrol dividend, amid massive civil unrest

Colombia is seeking an additional payout of almost $1 billion from its oil company Ecopetrol S.A. Hundreds of demonstrators took to the streets in the Colombian capital on last Saturday. Colombia’s economy grew at its fastest pace in four years as migration from Venezuela. Luz Polo was at a campaign event when she said a...

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Peterson and Itaoca Offshore announce partnership for development of new Brazil terminal

Peterson and Itaoca Offshore announce partnership for development of new Brazil terminal

Itaoca Offshore and Peterson Offshore Group announced a partnership and consulting agreement for the development of the Itaoca project. Peterson has strengthened its relationship with Premier Oil, a leading independent exploration. Peterson Offshore Group Netherlands, hereafter ‘Peterson’, has excelled in its Achilles FPAL Verify Audit. Peterson Chemicals BV has again expanded its fleet of “portable...

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Rockwell Automation joins Accenture, Microsoft, PTC, ANSYS, and EPLAN to simplify digital transformation

Rockwell Automation joins Accenture, Microsoft, PTC, ANSYS, and EPLAN to simplify digital transformation

Businesses that are digitally transforming their operations need an ecosystem of partners that can help them simplify technology deployments. More than half of all respondents to an LNS Research survey said their industrial facility has experienced a cybersecurity breach. New Allen-Bradley FLEX 5000 safety I/O modules can meet the needs of producers in process and...

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Conoco launches plan to distance itself from shale, win back shareholders

Conoco launches plan to distance itself from shale, win back shareholders

ConocoPhillips announced a 10-year plan to buy back $30 billion of shares, equivalent to about half of its current market capitalization. ConocoPhillips reported third-quarter 2019 earnings of $3.1 billion, or $2.74 per share. Company announced it has entered into an agreement to sell the subsidiaries that hold its Australia-West assets. Company announced an increase in...

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ABB proves long-distance subsea power system for deep, remote ocean environments

ABB proves long-distance subsea power system for deep, remote ocean environments

ABB’s pioneering subsea power distribution and conversion technology system has proven commercially viable. Southwest China is embarking on large grid development projects to send clean power to the country’s load centers in the South. ABB attends China International Import Expo 2018 and signs a number of cooperation agreements. According to the company, bringing potential for...

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KCA Deutag secures $460m of land drilling contracts in the Middle East, Africa and Europe

KCA Deutag secures $460m of land drilling contracts in the Middle East, Africa and Europe

Global drilling and engineering contractor KCA Deutag announced that its land drilling operation has won new contracts. RDS, KCA Deutag’s engineering and design unit, reported last Tuesday that it has won a contract. Global drilling and engineering contractor, KCA Deutag, has been awarded two services contracts with BP Exploration. It is approximately $460m in the...

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IEA predicts global oil demand will level off around 2030

IEA predicts global oil demand will level off around 2030

Global oil demand will hit a plateau around 2030 as the use of more efficient cars and electric vehicles. Estonia is on the brink of a major energy transition that will involve a substantial change. As ever more of the world’s energy comes from wind and solar, new regulatory frameworks and more flexible energy systems...

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Speakers at IPAA’s annual meeting laud industry, see tough election ahead

Speakers at IPAA’s annual meeting laud industry, see tough election ahead

The Independent Petroleum Association of America (IPAA) kicked off the first day of its annual meeting on last Thursday. Interior Secretary Ryan Zinke will depart at the end of the year. Telegram and its parent company, Hearst, continue their tradition of honoring the area’s energy industry. Two Capitol Hill insiders sorting out the issues for...

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Equinor and partners tally Echino South find in the North Sea

Equinor and partners tally Echino South find in the North Sea

Equinor and partners ExxonMobil, Idemitsu and Neptune have discovered oil and gas in exploration well Echino South. Equinor is awarding a contract for constructing and installing the subsea production system. In the aftermath of Hurricane Dorian there are reports of widespread devastation across the Bahamas. Recoverable resources are estimated at 6-16 million standard cubic meters...

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Reveal Energy Services validates more than 10,000 hydraulic fracturing stages

Reveal Energy Services validates more than 10,000 hydraulic fracturing stages

Reveal Energy Services announced the company has validated more than 10,000 hydraulic fracturing stages in the US. Company announced the commercialization of the DSCVRiSM cloud-based completion evaluation engine. Company also announced the commercialization of the FracEYE(SM) frac hit analysis service. Two patents that protect the science underlying IMAGE Frac technology licensed exclusively. company is enhancing...