News

  • Preem advances renewables conversion project for Lysekil refinery

    Swedish refiner Preem AB, a wholly owned subsidiary of Corral Petroleum Holdings AB, Stockholm, is moving forward with a recently proposed project to convert its 220,000-b/d refinery in Lysekil, Sweden, into Scandinavia’s largest manufacturing site for renewable fuel.   With an application to amend the…

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  • Cenovus, Husky agree to US$23.6-billion merger

    Cenovus Energy Inc and Husky Energy Inc have agreed to merge in an all-stock transaction valued at US$23.6 billion, inclusive of debt.   The combined company, to operate as Cenovus Energy Inc and remain headquartered in Calgary, will have low exposure to Alberta oil pricing,…

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  • 25 Percent of Floater Fleet Could be Scrapped

    One quarter of the global floater segment could be scrapped.   That’s according to Rystad Energy, which outlined that restructuring in the “already stretched” offshore drilling market will accelerate.   An evaluation of active rigs in the global floater fleet revealed that up to 59…

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  • Year-long outage of Hammerfest LNG plant to affect Neptune output

    Oil and gas company Neptune Energy expects its full-year production to be impacted by the closure of the Equinor-operated Hammerfest LNG plant following a recent fire incident while its losses of revenues will be recovered through insurance claims.   The Hammerfest LNG plant processes gas…

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  • P11-Unity platform installed offshore the Netherlands

    Heerema’s semi-submersible crane vessel Sleipnir has installed Dana Petroleum’s P11-Unity platform in block P11b in the Dutch North Sea.   At 395 metric tons (435 tons), this is said to be one of the world’s smallest platforms.   Heerema was contracted for the transportation and…

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  • BP fires up gas field offshore Egypt

    Oil major BP has started gas production from its latest development ‎offshore Egypt – the Qattameya gas field in the North Damietta offshore concession.   Through BP’s joint venture, Pharaonic Petroleum Company (PhPC), the Qattameya field has been developed ‎through a one-well subsea development and…

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  • Libya Reopens Last Major Oil Field

    Libya is set to restart the last of its major oil fields following a ceasefire in its civil war, a milestone for the OPEC member that’s been largely offline since January.   Oil dropped after the state energy firm lifted force majeure on exports from El Feel on the…

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  • Borders & Southern extends Falklands production licences

    Borders & Southern Petroleum has been granted an extension to its Falkland Islands licences.   The Company’s Production Licences, PL018, PL019 and PL020, which grant exclusive rights for surveying, drilling and production within the specified area, were due to expire on 31 October this year….

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