Saudi Aramco and SABIC are to develop an integrated industrial complex to convert crude oil to chemicals (COTC) at Yanbu, located on Saudi Arabia’s west coast, the companies said on the 1st November in a joint statement. On the 26th November 2017, Saudi Aramco…
BP has announced that it has completed its US$10.5 billion acquisition of BHP’s US unconventional assets. The energy major said the acquisition, which closed yesterday, adds oil and gas production of 190,000 barrels of oil equivalent per day and 4.6 billion oil equivalent barrels…
Petrofac and Takatuf Oman, owned by Oman Oil Company, have inaugurated their new institute designed to provide training for the Sultanate’s next generation of oil, gas, and energy personnel. The Takatuf Petrofac Oman (TPO) centre in Knowledge Oasis will be the largest technical training…
Drilling of the fourth production well is under way at the ExxonMobil-operated Hebron field development offshore Newfoundland. Production is currently 14,400 b/d and ramping up ahead of expectations, according to partner Suncor Energy. Source: Offshore Magazine
Norway’s Uptime International has entered into two new contracts with compatriot vessel provider Island Offshore. Uptime said on the 1st November that the first contract was a rental agreement for an Uptime 23,4m active motion compensated gangway for a seven-month period, starting the 1st…
Noble Energy has said achieved its quarterly record in gas sales in Israel during the third quarter of the year. The company, which produces gas in Israel from its Tamar offshore field, said on the 1st November that it had sold a record of…
Encana Corporation, Calgary, has agreed to an all-stock transaction valued at US$7.7 billion – including the assumption of US$2.2 billion net debt – to combine with Newfield Exploration Company, The Woodlands, Texas, entering the oil-rich STACK-SCOOP in the Anadarko basin. The deal creates North…
Lloyd’s to write fac, non-proportional XoL treaty reinsurance from Brussels Specialist re/insurance market Lloyd’s of London has revealed that it will write facultative reinsurance and non-proportional excess of loss (XoL) treaty reinsurance on Lloyd’s Brussels paper from the 1st January 2019 across all markets in…
Houston-based oil and gas company Apache plans to accelerate initial production from its Garten discovery located in the UK North Sea. In its financial report for the third quarter 2018 published on Wednesday Apache said it would fast-track first production from the Garten discovery…
Higher OPEC oil production and longer voyages are propelling shipowners back to good times. Just a month ago, hiring a supertanker for the benchmark Middle East Gulf-to-China route cost about US$18,000 a day. That almost tripled to US$51,000 a day as of the 29th…
