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Oil snaps a five-day losing streak on possible OPEC+ cuts

Oil snaps a five-day losing streak on possible OPEC+ cuts

Oil reversed five days of losses as the potential for an OPEC+ production cut overshadowed an uptick in U.S. crude inventories. Oil headed for the biggest quarterly advance in seven years as falling US supply added to speculation the global surplus is easing. Iraq and Libya are the two countries most at risk of political...

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Shell: Customers will drive energy transition

Shell: Customers will drive energy transition

Two dominant energy industry themes, the move to cleaner energy and digitalisation can be combined to “positively impact each other”. Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell), a subsidiary of Royal Dutch Shell plc. Company announces the commencement of trading in the next tranche of its share buyback programme. Shell CTO Yuri Sebregts...

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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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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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Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac to establish Petrogas NEO UK’s new North Sea operations

Petrofac has been selected by Petrogas NEO UK – a jointly owned company created by Petrogas E&P UK, and NEO Energy. Company announces a new contract and the award of an additional scope of work with Petroleum Development Oman (PDO). Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of...

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BP reshapes its UK North Sea portfolio with $625 million asset sale

BP reshapes its UK North Sea portfolio with $625 million asset sale

BP has agreed terms to sell its interests in the Andrew area in the central UK North Sea. New cross-industry consortium to make enhanced recycling of polyester plastics a commercial reality. BP announced that its recent three-well drilling campaign offshore Mauritania. Company has also non-operating interest in the Shearwater field. BP and Reliance Industries Limited...

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Maersk Drilling tags Halliburton and Petrofac for its Seapulse exploration drilling program

Maersk Drilling tags Halliburton and Petrofac for its Seapulse exploration drilling program

Maersk Drilling has signed agreements with Halliburton and Petrofac to collaborate on an exploration program. The success stories from Maersk Resolute’s recent contract with Petrogas E&P Netherlands B.V. are many. On 2 October 2017, Maersk Discoverer moved the boundaries for drilling in shallow waters. CFO Marianne Sørensen will be joining Rambøll as their new Group...

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BP invests in carbon-offset monetization firm

BP invests in carbon-offset monetization firm

BP Ventures has invested $5 million in Finite Resources Inc, parent company of Finite Carbon, a US-based forest carbon management company. BP recently announced a new joint venture with US agri-commodities company Bunge. Innovative enhanced recycling technology capable of processing PET plastic waste which currently goes unrecycled. The investment will enable Finite Carbon to grow...

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EnerMech wins five-year LNG contract in Australia

EnerMech wins five-year LNG contract in Australia

EnerMech Australia has been awarded a five-year contract to provide specialist nitrogen. EnerMech has announced a key appointment as part of its next phase of growth with Alex Goude. MInteg has been awarded its largest contract to date and will supply inspection services to a major oil and gas operator. The flange management services to...