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Canacol Energy wins three new Colombian gas exploration blocks

Canacol Energy wins three new Colombian gas exploration blocks

Canacol Energy has successfully secured a 100% operated working interest in three new conventional gas exploration contracts. Company pleased to announce that it has commenced the production and sale of liquified natural gas (“LNG”), the first such operation in Colombia. Company pleased to report its financial and operating results for the three and nine months...

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OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia. China’s record imports of crude oil in November underscore both the challenges and risks facing OPEC. Brent rises 3% in wk;WTI up 7% in biggest weekly gain since June. It has long carried an outsized share of...

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OPEC+ clamping down on members exceeding production quotas

OPEC+ clamping down on members exceeding production quotas

OPEC+ is poised for a debate about lax implementation of oil-production cuts in Vienna this week. Oil jumped above $61 a barrel on last Monday, supported by hints that OPEC. The dollar and global stock markets fell on last Monday after U.S. President Donald Trump’s speech. Russia asking to discuss a rule change that would...

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Repsol is first oil major to pledge zero emissions by 2050

Repsol is first oil major to pledge zero emissions by 2050

Repsol SA embarked on the most ambitious attempt yet by an oil major to align itself with the Paris climate goals. The first WindFloat Atlantic unit featuring the world’s largest offshore wind turbine on a floating platform. The Chairman of Repsol warns in Brussels of the risk of relocation of European industrial production. Repsol has...

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New DNV GL recommended practice on subsea welding removes uncertainty, improves quality

New DNV GL recommended practice on subsea welding removes uncertainty, improves quality

A new recommended practice (RP) to standardize operator requirements for welding and inspection of subsea equipment. The Universal Smart Energy Framework (USEF), co-developed by DNV GL. DNV GL has presented Samsung Heavy Industries Co., Ltd. (SHI) with an Approval in Principle (AIP) for the Cyber Secure. Northern Drilling’s West Mira is the first rig in...

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Enpro Subsea completes latest subsea enhanced production campaign in Ghana

Enpro Subsea completes latest subsea enhanced production campaign in Ghana

Enpro Subsea has recently completed another two successful subsea hydraulic intervention campaigns for two operators in West Africa. Enpro Subsea has reached a Master Services Agreement (MSA) with Kosmos Energy aimed. Enpro Subsea has welcomed a new senior advisor to bolster the strategic team in the Americas. Operations were conducted from a single Multi Services...

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Shell says it’ll stay in Canada while other oil majors flee

Shell says it’ll stay in Canada while other oil majors flee

Royal Dutch Shell is reassuring investors, workers, and anyone else who will listen that it’s the international oil major. Consortium announces oil and gas production start at P-68 FPSO located at BM-S-11-A concession in Berbigão, Sururu. Royal Dutch Shell plc announces the commencement of trading in the next tranche of its share buyback programme. Shell’s...

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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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Emerson launches IIoT-enabled Connected Services to support multiphase flow meters in unconventional shale

Emerson launches IIoT-enabled Connected Services to support multiphase flow meters in unconventional shale

Oil and gas producers have a new means of optimizing wellhead production that lowers operating costs. Emerson’s new ASCO Series 273 Pneumatic Pinch Valve features an innovative design for improved tube retention. ASCO valves simplify identification and replacement of existing valves with lead-free brass models. Company thanks to a newly launched service from Emerson that...