News

  • Cypriot gas dispute colours Turkey-EU summit

    A meeting in Varna, Bulgaria, between Turkish President Recep Tayyip Erdogan and leaders of the European Union ended with repeated EU condemnation of Turkey’s recent interference with oil and gas exploration off Cyprus.   “The European Union stands united behind the Republic of Cyprus,” declared…

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  • Brent crude oil breaks above US$70/bbl

    The Brent crude oil benchmark climbed more than US$1.50 to close above US$70/bbl on the 23rd March, marking the front-month’s highest level since late January while the US light, sweet crude oil benchmark for May also climbed more than US$1.50 to approach US$65.90/bbl.   “Geopolitics…

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  • China, Philippines eye joint exploration

    The governments of China and the Philippines say they are moving towards cooperative offshore oil and gas exploration.   The countries have been locked in a territorial dispute over parts of the South China Sea.   The island nation won an arbitration challenge to China’s…

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  • UK to open decommissioning centre in Aberdeen area

    The Oil & Gas Technology Centre and the University of Aberdeen plan to create a new Decommissioning Centre of Excellence, working in partnership with the offshore industry.   Over the next decade, around 100 platforms and 7,500 kilometres (4,660 miles) of pipeline are set to…

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  • Shell Sells West Qurna-1 stake for US$406 million

    Shell EP Middle East Holdings BV has agreed to sell the entire share capital of Shell Iraq BV (SIBV), which holds its 19.6% stake in the West Qurna 1 oil field, for US$406 million, to a subsidiary of Japan’s Itochu Corporation.   The purchaser will…

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  • Myanmar, India Mull Building Cross-Border Oil Pipeline

    India has proposed to build a pipeline from the country’s east coast to deliver oil products, mainly diesel, to Myanmar, a Myanmar government official said on 23rd March.   “We have already connected oil and gas pipelines to China and Thailand, and we considered connecting…

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  • Lundin hires Island Offshore PSV duo for rig support in Norway

    Swedish oil and gas company Lundin Petroleum has chartered two LNG-powered platform supply vessels from Island Offshore.   The contract was awarded to Island Offshore by Lundin’s Norwegian subsidiary Lundin Norway.   CEO Havard Ulstein confirmed for Offshore Energy Today that the vessels in question…

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