Venezuela importing the most fuel since U.S. sanctions started

Venezuela importing the most fuel since U.S. sanctions started

Venezuela is importing fuel at a rate not seen since the U.S. imposed crippling sanctions on the country. A Chinese contractor has agreed to shore up Venezuela’s derelict refining network to ease fuel shortages. US imposed sanctions on Venezuelan individuals linked to Maduro’s government. US President Donald Trump has signed an executive order imposing an economic embargo. There still has been no so-called “firesale” of Venezuela’s government. Carlos Vecchio, who represents opposition leader Juan Guaido, did not give a day or location for the talks. Fuel imports more than doubled in July from the previous month. The administration of United...

Alberta’s oil limits finally seem to be working

Alberta’s oil limits finally seem to be working

Alberta’s oil production curbs finally appear to be draining inventories, at least for now. The Alberta government’s move to cut corporate taxes from 12 to eight per cent. Alberta premier Jason Kenney offered his thoughts on the differing views between him and B.C. premier. Canada’s largest oil producers are calling on the Alberta government to reward companies. Alberta’s United Conservative government says it will try to offload crude-by-rail contracts signed by the previous NDP. Crude supplies in Western Canada fell by 2.75 MMbbl last month to the lowest since November 2017. It called Bill C-48, the Oil Tanker Moratorium Act,...

Chevron warns future Venezuela events may hurt earnings

Chevron warns future Venezuela events may hurt earnings

The last major U.S. oil producer in Venezuela is warning that developments in the crisis-torn South American. Chevron U.S.A. Inc. has awarded Schlumberger subsidiary OneSubsea a 20-year subsea equipment. Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility. Chevron U.S.A. Inc. has completed its $350 million acquisition of Pasadena Refining System. Chevron Corp. enters a more elite group of oil and gas firms with its $50 billion cash. Chevron Lummus Global (CLG), a joint venture of Chevron and McDermott International, Inc. The language has evolved from the company’s previous quarterly filing. Chevron Corp....

PJ Valves secures three FPSO supply contracts

PJ Valves secures three FPSO supply contracts

PJ Valves (PJV), the specialist manufacturer and supplier of valves for the global energy industry. PJ Valves have secured a number of contract awards to manufacture valve packages for a North Sea project. PJV are proud to have received another piece of prestigious recognition of export success. This year company received the Queen’s Award for Enterprise. Charlie Lodge was invited by the Chinese Extreme Sports Committee to represent Great Britain. It has been awarded three significant FPSO valve contracts for projects in Brazil, Mexico and Nigeria. PJ Valves (PJV), the specialist manufacturer and supplier of valves to the global energy...

Qatar invests $550 million in Permian midstream operator

Qatar invests $550 million in Permian midstream operator

Oryx Midstream Services, the largest privately-held midstream crude operator in the Permian basin. Qatar and Somalia denied a news report that suggested Doha. A Qatari national was released from prison in Saudi Arabia. Qatar has inaugurated a new naval base in the country’s northeast. Two military training aircraft have collided in mid-air without causing any casualties in Qatar. Company announced that an affiliate of Qatar Investment Authority has acquired a significant stake in Oryx. US President Donald Trump gave a warm White House welcome on last week to the Qatari emir amid. Chevron Phillips Chemical and Qatar Petroleum signed an...

Peterson expands Caribbean presence with new Repsol project

Peterson expands Caribbean presence with new Repsol project

Energy logistics company Peterson has been awarded a major contract with Repsol Exploracion Guyana. The KBD-2X well completed by Repsol and partners PETRONAS and MOECO provides preliminary estimation. The company’s net income was 1.133 billion euros in the first six months. Repsol has agreed the development of two wind projects in the Spanish regions of Aragon. S.A., selected as the main logistics contractor for the Carapa 1 exploration. Repsol and its partners have achieved first oil in Buckskin. Repsol Chairman Antonio Brufau, at the Annual General Shareholders’ Meeting held last week in Madrid. The drilling project, providing Repsol with integrated...

DNV GL to call for offshore verification to move with the times at SPE Offshore Europe

DNV GL to call for offshore verification to move with the times at SPE Offshore Europe

Offshore verification needs to move with the times and improve its contribution. The JDP was prompted by an upsurge in stern tube bearing failures. DNV GL, the world’s largest resource of independent energy experts and certification body. Company announced that it has launched its first LiDAR verification site in Asia. It includes technical actions, such as hardware upgrades, tank cleaning. It’s safety according to global risk management company, DNV GL. Company launching a new news and current affairs podcast. DNV GL has been contracted by PUB, Singapore’s national water agency. DNV GL will reveal, for the first-time, details of its...

TGS awarded five-year well data contract extension by BSEE

TGS awarded five-year well data contract extension by BSEE

TGS-NOPEC Geophysical Company has been awarded a five-year contract for Digital Well Log Data Processing. TGS and Schlumberger announced a strategic collaboration for multiclient ocean-bottom. TGS-NOPEC Geophysical Company (TGS) today announced the release of its new well log prediction tool. TGS today reported net revenues* of USD 166 million for Q2 2019. TGS, a leading provider of multi-client geoscience and engineering data for Exploration & Production companies. TGS has been providing Digital Well Log Data Processing services to BSEE since 2004. TGS and PGS have announced a partnership with Bain Geophysical Services to create a new regional study. TGS-NOPEC Geophysical...

Saipem to establish a spoolbase in the US Gulf of Mexico

Saipem to establish a spoolbase in the US Gulf of Mexico

Saipem will establish a spoolbase on Greenwood Island, Pascagoula, Mississippi. Saipem has reached an agreement with Technip France SA. Saipem informed that, on that same date, the Tribunal of Algiers had pronounced a first instance judgment. Company serving as a highly specialized site designed to provide support for vessels performing pipelay activities. Saipem has been awarded two new contracts in Saudi Arabia, worth over USD 3.5 billion. Saipem, in Joint Venture with McDermott International and Chiyoda Corporation, has reached agreement with Area 1 Concessionaires. The new facility will support the Saipem Constellation, the latest addition to the Saipem fleet. Saipem...

Petronas signs Gabon’s first exploration permits in five years

Petronas signs Gabon’s first exploration permits in five years

Malaysia’s state-owned oil company has signed an agreement with Gabon for two exploration permits. PETRONAS awarded sponsorships to 291 outstanding Sijil Pelajaran Malaysia achievers. PETRONAS organised the BeyondHome programme. PETRONAS refers to the announcement by Moody’s Investors Service. PETRONAS released its much-awaited Hari Kaamatan and Hari Gawai Webfilms. PETRONAS achieved its first liquefied natural gas (LNG) drop by its floating LNG facility. Company continues to embrace the spirit of Malaysia’s diversity with its latest Webfilm. The African country enacted a new oil law last month. PETRONAS announced that it has entered into an agreement with I Squared Capital. Petroliam Nasional...