News

  • Review upgrades North Sea Selene gas resource

    Prospective gas reserves have risen for the Selene prospect in the UK southern North Sea following new analysis.   Co-venturers Shell and Deltic Energy, operator of the surrounding P2437 licence, assessed reprocessed 3D seismic over the structure, applying a depth conversion technique and performing a…

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  • Petrobras to mothball Merluza platform offshore Brazil

    Petrobras says it will mothball the Merluza platform (PMLZ-1) in the shallow-water Santos basin off Brazil.   Production from the platform stopped in March 2020 after the abrupt reduction in demand for natural gas.   The company said hibernation will allow the reduction of operating…

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  • US Shale Producers at a Crossroads

    US shale producers are at a crossroads as they find themselves more efficient than ever.   They can keep drilling, and potentially dent oil prices, or use the money to pay down debt.   Producers across the Permian Basin are saving about 20% on well…

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  • Saudi Aramco to boost output regardless of huge profit drop

    The chief executive officer of Saudi Arabian oil and gas giant Saudi Aramco has stated that the company would be pressing ahead with its plan to boost output capacity regardless of massive profit drop in 2Q 2020.   According to an article by Reuters, Saudi…

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  • Oilex settles East Timor dispute

    Oilex Ltd, Perth, has executed a deed of settlement and release with East Timor national company Autoridade Nacional Do Petroleo E Minerals (ANPM) to end lengthy arbitration proceedings arising from the termination of a production sharing contract in the Timor Sea by ANPM in 2015….

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  • Cameron LNG Train 3 Begins Commercial Operation

    McDermott International Ltd has announced the beginning of commercial operation of Train 3 at Cameron LNG, which is jointly owned by Sempra LNG, Total SE, Mitsui & Company Ltd and Japan LNG Investment LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki…

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  • What Is Hastelloy C276, Can It Be Used In Oil & Gas Industry?

    Hastelloy C276 is a nickel-chromium-molybdenum alloy containing tungsten, which is known for its corrosion resistance in various corrosive media. The high content of molybdenum, it is resistant to localized corrosion such as pitting, the low carbon content, the precipitation of carbides during the welding process…

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  • Norway Plans Deep Cuts to Oil Loadings

    Norway may not officially be part of the OPEC+ alliance to curb oil supply in the face of the coronavirus pandemic, but next month it looks like the Scandinavian country will do its bit toward helping the producer alliance to avert a global glut of…

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  • Petrofac and SOCAR JV wins BP deal in Azerbaijan

    In a joint venture with the State Oil Company of the Republic of Azerbaijan (SOCAR), Petrofac, has secured a contract to provide BP Azerbaijan with international payroll and personnel support services including training services.   Petrofac said on the 10th August that the five-year contract,…

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