News

  • North Sea pipeline shutdown will raise UK oil output

    INEOS’ announcement that it would postpone its scheduled maintenance for the Forties pipeline system (FPS) in the UK central North Sea could add several hundred thousands of extra barrels a day to the market, Rystad Energy has warned.   The consultant has consequently raised its…

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  • Rosneft sells its Venezuelan assets

    Rosneft has announced the termination of its operations in Venezuela and the disposal of its assets, related to operating in Venezuela.   Rosneft has concluded an agreement with the company 100% owned by the Government of Russian Federation, to sell all of its interest and…

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  • Insurance Jottings

    Carnegie-Brown provides Covid-19 leadership with “jeopardy” warning As political pressure grows on insurers across the globe to Coronavirus-related claims even if there are valid exclusions in place, the Lloyd’s chairman has warned the industry it could be “in jeopardy” if they succeed.   Insurance should…

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  • Oil Braces for Biggest Idling of Wells Since 1986

    Only the old hands at the Coffeyville oil refinery could remember anything like the prices posted this month. The small Kansas plant in the heart of rural America was offering just US$1.75 a barrel for Wyoming sweet crude.   With more than two billion people…

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  • BP charters Foinaven FPSO for up to ten years

    Teekay, which has recently decided to change its name to Altera Infrastructure, has entered into a new bareboat charter contract with the Foinaven operator, a subsidiary of BP, for the Petrojarl Foinaven FPSO unit for up to approximately ten years.   Under the terms of…

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  • Gazprom Neft’s Omsk refinery advances biological wastewater treatment plant

    PJSC Gazprom Neft subsidiary JSC Gazpromneft-ONPZ has started installation of equipment for its previously announced biosphere closed-loop wastewater treatment plant as part of the second phase of the operator’s ongoing modernisation programme to reduce environmental impacts and improve processing capacities, conversion rates, energy efficiency, and…

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  • International Maritime Industries Completes the “Maintenance, Repair & Overhaul (MRO)” of the ARO-2003 (SAR201) With ARO Drilling

    International Maritime Industries (IMI) has announced the completion of the ARO-2003 (SAR201) MRO project with ARO Drilling (ARO); a world-class offshore drilling contractor who owns, operates and manages a fleet of high-specification and premium jack-up rigs in Saudi Arabia.   The ARO-2003 (SAR201) is a “Baker Marine” designed jack-up rig which is…

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  • Searcher study to complement offshore Timor-Leste bid round

    Searcher Seismic has struck a marketing and sales agreement with Timor-Leste’s Petroleum Authority, Autoridade Nacional Do Petroleo E Minerals (ANPM), for its Offshore Timor-Leste Data and Study Package.   The company, in collaboration with Discover Geoscience has prepared the package of seismic and well data…

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