Drydocks World said it has completed the Rashid D Wellhead Platform jacket and topside for TechinpFMC and end client Dubai Petroleum.“Rashid D marks the fourth project we have built [with TechinpFMC] together for Dubai Petroleum,” said Capt…
Oil prices fell on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices.Brent crude oil dropped $1.67 a barrel, or 3.1 percent, to a low of $52…
Despite the lingering volatility of global commodity prices, Africa's offshore oil and gas industry has continued to expand, albeit not as fast, opening up more market opportunities for floating production storage and offloading (FPSO) vessel manufacturers and suppliers…
Oil surged on Wednesday, posting its strongest daily gain in more than two years in a partial rebound from steep losses that pushed crude benchmarks to lows not seen since 2017.Both U.S. and Brent crude rose about 8 percent, their largest one-day increase since Nov…
BP announced Monday that a newly retrofitted vessel has been launched to be used for acid stimulation activities in 17 selected wells in its operated Azer-Chirag-Gunashli (ACG) offshore field, marking a first-of-its-kind project for the region…
Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade…
Oil rose to $51 a barrel on Wednesday on perceptions that a price slide to 2017 lows prompted by economic worries had been overdone amid an OPEC-led effort to tighten supply.Crude has been caught up in wider financial market weakness as the U…
London-based international independent oil and gas company Panoro Energy ASA announced Friday it has completed its $65 million acquisition of OMV Tunisia Upstream GmbH from Vienna-based integrated oil and gas company OMV.Panoro Tunisia Production AS (PTP…
Brazil's state-controlled Petroleo Brasileiro SA will suspend any new divestment initiatives in oil exploration or production, the company said on Thursday, following a Supreme Court decision.The decision suspended an agreement between Petrobras…
Europe's oil and gas exploration and production company with operations focused on Norway Lundin Petroleum AB said that its wholly owned subsidiary Lundin Norway AS has completed the drilling of the Silfari exploration well 6307/1-1S located in PL830 in the Norwegian Sea…
British North Sea-focused oil and gas producers, Oranje-Nassau Energie (ONE) and Dyas, have agreed to merge to expand production, the privately-owned companies said on Thursday.The merged group, ONE-Dyas, will operate alongside a group of of…
Norwegian-based well and reservoir surveillance and intelligent tracer systems provider RESMAN AS announced it has agreed to acquire tracer service provider Restrack AS, in a share purchase agreement. The combined company will have up to 100 employees…
Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such as Russia in an effort to shore up the price of crude, OPEC's secretary-general said in a letter seen by Reuters on Thursday.Mohammad Barkindo said to reach the proposed cut of 1…
Canadian oil and gas producer Husky Energy Inc on Thursday cut its 2019 capital expenditure program by about 8 percent, or C$300 million, citing Alberta's mandatory curbs on output and lower oil prices.The company now expects 2019 capital expenditure of C$3…
Norway's November oil and gas output was lower than originally expected due to a collision between a navy frigate and an oil tanker that triggered shutdowns of major export facilities and several offshore fields, the country's oil regulator said…
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