The world's northernmost oilfield was shut on Friday when a fire broke out in a sauna in the oil platform's living quarters, Eni, the Italian oil company that operates the field, said. The Arctic Goliat field is in the Barents Sea about 88 kilometers…
Oil prices jumped on Wednesday, hitting their highest in more than three years on Wednesday after Saudi Arabia said it intercepted missiles over Riyadh and U.S. President Donald Trump warned Russia of imminent military action in Syria.Both U…
Statoil, on behalf of the Johan Sverdrup partnership, signed a letter of intent with Aibel for the construction of the processing platform topside for phase 2 of the project. A letter of intent for field center modifications is also issued to a joint venture of Aker Solutions and Kværner…
Plans for America’s first floating offshore wind farm are taking shape with the news that California’s Redwood Coast Energy Authority (RCEA) has selected a consortium to enter into a public-private partnership to develop the project off the Northern California coast…
Statoil has awarded drilling contracts to Archer, KCA Deutag and Odfjell Drilling for drilling, completion, intervention services, plugging, maintenance and modifications on 18 of Statoil’s fixed platforms.The contracts take effect from October 1…
Russian state oil company Rosneft will continue geological explorations in the Arctic offshore zone after ExxonMobil quits the joint projects, reports TASS. The report qouted Natural Resources Minister Sergey Donskoy saying that the Arctic…
Statoil and partners were the high bidders for four blocks in the Campos basin in Brazil’s 15th licensing round held on 29 March. With the new licenses, Statoil strengthens its position in Brazil and increases synergies with current projects…
Three firms that bought crude oil last year from U.S. emergency stockpiles raised concerns about dangerous levels of a poisonous chemical in the cargoes, according to internal Energy Department emails and shipping documents reviewed by Reuters…
Many investors worry about volatility overnight as low liquidity added to wild gyrations. Shanghai crude oil futures slumped on Wednesday, the third day of trading since their launch, after heavy selling overnight, as traders scrambled to follow cues from the main international markets…
At Subsea Valley 2017, Jan-Fredrik Carlsen, CEO of the Notodden based Norwegian company Optime Subsea, promised to revolutionize the intervention and controls segment of the subsea oil and gas industry through a new and disruptive technology…
Winners of the 2018 Offshore Achievement Awards were announced last night {22 March} in a celebration of industry talent, innovation and enthusiasm.The Society of Petroleum Engineers (SPE) Aberdeen Section revealed the 11 winners to an audience of more than 450 people…
U.S. engineering and construction company McDermott International plans to bid for $5 billion in contracts in the next few months in Asia Pacific as the region's offshore oil and gas sector recovers, company executives said on Tuesday. The…
Saudi Aramco Chief Executive Officer Amin Nasser said on Thursday that all work required from the oil giant for its initial public offering (IPO), which could be the biggest in history, will be completed in the second half of 2018. Speaking at a conference in London…
By restraining production, OPEC and its allies have succeeded in eliminating excess oil stocks and accelerating the recovery in prices, but they are paying an increasingly high price in terms of market share. U.S. producers will capture all the growth in global oil consumption this year…
Exports of U.S. crude oil to Asia appear to be starting to struggle under the weight of a narrowing discount for its domestic benchmark crude to international grades and efforts by other suppliers to maintain competitiveness. Vessel-tracking and port data suggest Asian imports of U…