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Venezuela using ‘dark ships’ to secretly export millions of barrels of oil

Venezuela using ‘dark ships’ to secretly export millions of barrels of oil

The Dragon, a massive oil tanker flying the Liberian flag, is supposed to be floating somewhere off the coast of France. Venezuela has expelled El Salvador’s diplomats in a tit-for-tat response after El Salvador. Venezuela has won a seat on the United Nations Human Rights Council. Instead, it’s currently thousands of miles away in Venezuela....

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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...

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Maersk Supply Service awarded integrated solutions project in Brazil

Maersk Supply Service awarded integrated solutions project in Brazil

Maersk Supply Service will provide an integrated mooring lines life extension solution. Western Australia’s Port of Fremantle is setting new records with the arrival of two Post Panamax containerships. On July 10, the company said that it agreed with SoLix Group AB. Shell’s FPSO Fluminense, including project management, engineering, interface management. New facility which has...

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OPEC output rises for first time since start of 2019 cuts

OPEC output rises for first time since start of 2019 cuts

The first increase since the group and its allies started a new round of output cutbacks. Saudi Arabia was successful in getting the Organization of the Petroleum Exporting Countries (OPEC). The OPEC+ alliance is poised to extend production cuts into 2020. It start of the year to shore up a weak global market. Oil prices...

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BP focuses on deepwater, shale in historic shift south from Alaska

BP focuses on deepwater, shale in historic shift south from Alaska

BP has closed one chapter in its U.S. business, exiting Alaska decades. BP’s mergers and acquisitions (M&A) team is increasingly targeting new low carbon opportunities too. It’s developing a nationwide ultra-fast charging network is just the latest development for BP Chargemaster. The old BP discovered billions of barrels of oil on the country’s farthest frontier....

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Putin’s budget has lowest break-even oil price in over a decade

Putin’s budget has lowest break-even oil price in over a decade

Oil prices may be recovering, but Russian President Vladimir Putin isn’t taking any chances. On August 10, opposition supporters held a mass protests in the Russian capital. Russia’s President Vladimir Putin has urged the United States to begin new arms talks. Russian President Vladimir Putin has taken a step towards cooling tensions with Georgia. It’s...

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Iran oil tanker released by Gibraltar, setting up race with the U.S

Iran oil tanker released by Gibraltar, setting up race with the U.S

Iran is racing to return an oil supertanker to international waters. The captain of an Iranian tanker seized in Gibraltar, provoking a diplomatic crisis between Tehran and London. The ship, the Grace 1, had been held in Gibraltar after British forces detained it last month. Iran on Sunday called Britain’s seizure of an Iranian oil...

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Shell invests in PowerNap subsea tie-back in Gulf of Mexico

Shell invests in PowerNap subsea tie-back in Gulf of Mexico

Shell Offshore has elected to invest in its PowerNap deep-water project in the U.S. Gulf of Mexico. Shell announces a programme to invest in natural ecosystems as part of its strategy. Shell must remain at the forefront of the drive for greater corporate transparency. The project is expected to start production in late 2021 and...

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Wintershall Dea taps ConocoPhillips’ shale expertise in Argentina agreement

Wintershall Dea taps ConocoPhillips’ shale expertise in Argentina agreement

Wintershall Dea has signed a Sales and Purchase Agreement with ConocoPhillips. Cash flows in the German natural resources sector are transparent. Recent merger of Wintershall and DEA formed Europe’s leading independent gas and oil company. It develop the Aguada Federal and Bandurria Norte blocks in the central Argentine province of Neuquen. The collaboration and research...

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Iran oil stacking up in Chinese ports adds to market uncertainty

Iran oil stacking up in Chinese ports adds to market uncertainty

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports. The Oil Ministry is at the forefront of fighting the US sanctions. It’s creating a hoard of crude sitting on the doorstep of the world’s biggest buyer. The National Iranian Gas Company and its affiliates are capable of playing a...