News

  • Judge scraps Trump order for Arctic and Atlantic oil leasing

    A federal judge in Alaska has overturned President Trump’s attempt to open vast areas of the Arctic and Atlantic oceans to oil and gas leasing.   The decision issued on the 4th April by US District Court Judge Sharon Gleason leaves intact President Barack Obama’s…

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  • ExxonMobil, Ecopetrol sign E&P contracts for blocks off Colombia

    ExxonMobil and Colombia’s Ecopetrol have each signed a 50-50 joint contract individually with Repsol for offshore exploration and production in offshore blocks in the Caribbean Sea.   Repsol will remain the operator of the blocks—COL-4 and GUA-OFF-1. ExxonMobil is the partner in COL-4, and Ecopetrol…

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  • Insurance Jottings

    Markel moves insurance business from London to Munich ahead of Brexit Specialist insurer Markel International has moved its European insurance business from London-based company, Markel International Insurance Company, to its Munich-based company, Markel Insurance SE (MISE) ahead of UK plans to leave the European Union….

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  • Premier picks NHV helicopters for North Sea operations

    Helicopter operator NHV Group has been awarded a new long-term contract with Premier Oil to provide helicopter services to its North Sea assets.   NHV said on the 4th April that daily flights with the H175 will depart from its base in Aberdeen for a period…

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  • Several New LNG Projects Must be Initiated in 2019

    The majority of LNG-focused oil and gas professionals believe several new LNG infrastructure projects will need to be initiated this year to ensure supply can meet demand after 2025.   That’s according to a new report published by DNV GL, which also revealed that more…

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  • Development plan firming for Sea Lion offshore the Falklands

    Rockhopper Exploration says planning continues for a three-phased development of the Sea Lion oil field in the offshore North Falkland basin.   Phase 1 is designed to produce around 220 MMbbl from licence PL032.   Phase 2 will encompass a further 300 MMbbl from the…

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  • Aramco Reveals Steep Output Dip at Super-Giant Oil Field

    It was a state secret and the source of a kingdom’s riches. It was so important that US military planners once debated how to seize it by force. For oil traders, it was a source of endless speculation.   Now the market finally knows: Ghawar…

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  • California’s Oil Industry Collapses Despite Shale Boom

    Not that long ago, California was the second most vital US oil producing state. Since peaking in 1985, however, output has plunged almost 60 percent to 460,000 barrels per day (bpd).   This collapse is made even more discouraging by the fact that total US…

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