News

  • BNP Paribas quits shale, oil sands funding

    France’s largest bank has said it will shun investment in unconventional and Arctic oil and gas resources as the country’s lower house of parliament upheld a government plan to ban oil production.   BNP Paribas Group said it no longer would do business with producers,…

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  • Bureau Veritas addresses FSRU classification

    Bureau Veritas (BV) has published a new Rule (NR645) for classification of floating storage and regasification units (FSRUs). This sets out the requirements for addressing the technical and operational issues for units which may operate as a floating terminal for one or more decades to…

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  • Tullow picks up Ivory Coast blocks

    Anglo-Irish exploration firm Tullow Oil has announced that it has acquired 90pc stakes in four onshore blocks in the Ivory Coast.   Petroci, the national oil company of the Ivory Coast, holds the remaining ten percent.   The four blocks – CI 518, CI519, CI301…

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  • OPEC reports production rose nearly 90,000 b/d in September

    The Organisation of Petroleum Exporting Countries raised its forecast for crude oil demand, adding that production by members rose by nearly 90,000 b/d in September despite production-cut targets by OPEC members and some other major producers.   The statistics came in OPEC’s latest Monthly Oil…

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  • Insurance Jottings

    Cybersecurity package: towards a true European governance of cybersecurity Note from FERMA (Federation of European Risk Management Associations) On the 13th September the European Commission adopted a series of measures to increase the cyber protection of European industries and citizens including a strengthened EU cybersecurity…

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  • Bayerngas clear to drill North Sea well with Songa rig

    Norway’s Bayerngas Norge has received consent from the Petroleum Safety Authority (PSA) to drill an exploration well in the North Sea with the Songa Enabler drilling rig.   The well is located in production licence 682 in the North Sea where Bayerngas is the operator. The…

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  • Total Reinforces its Exploration in West Africa

    Total and the National Office of Petroleum of Guinea (ONAP) have signed a Technical Evaluation Agreement to study deep and ultra deep offshore areas located off the coast of Guinea Conakry, covering approximately 55,000 square kilometres.   “By taking this position on a new under-explored…

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  • Petrobras considering involvement in South Pars oil project

    Petrobras may assist Iran with development of the South Pars field oil layer in the Persian Gulf, according to a report by news service Shana.   This follows recent talks in Tehran between Brazil’s Minister of Mines and Energy, Fernando Coelho Filho, and Iran’s Minister…

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  • Royal IHC buys into Rotterdam Offshore Group

    Royal IHC has announced its acquisition of 50% of the share capital of Rotterdam Offshore Group (ROG). The agreement will enable IHC to strengthen its ship repair and conversion capabilities with the addition of a dedicated facility in Rotterdam, which has uninterrupted access to open…

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