News

  • North Dakota launches task force to aid oil industry recovery

    North Dakota has launched a task force to help the oil industry and its service sectors recover from the demand shock of the coronavirus pandemic.   The Bakken Restart Task Force is reviewing and will help organise regulatory streamlining, economic stimulus, and ideas for tax…

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  • Oil Will Hit US$100 in Around 18 Months

    The oil price will hit US$100 per barrel in around 18 months.   That’s what Orascom Investment Holding Chairman and CEO Naguib Sawiris believes, a new CNBC television interview has revealed.   “I actually believe that in, let’s say, 18 months from now the oil…

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  • Oil Tankers Drag Out Sailing Times

    When the supertanker New Vigorous arrived at the port of Antifer in northern France last Saturday, the 2nd May, it made a small bit of maritime history.   The vessel, laden with two million barrels of crude, became the first in almost two years to…

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  • WesternGeco surveys Egyptian block for Neptune Energy

    WesternGeco has completed an ocean bottom nodes (OBN) multiclient survey in the North West El Amal block, offshore Egypt, for Neptune Energy.   Neptune said on the 7th May that the North West El Amal survey delivered ‘promising results’ for further analysis.   The project,…

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  • Van Oord to install Saint-Brieuc foundations offshore France

    Ailes Marines has contracted Van Oord to transport and install the 62 jacket foundations and the foundation piles for the offshore substation at the Saint-Brieuc wind farm in the Bay of Saint-Brieuc, 16.3 km (10.1 miles) off the French coast.   The company’s installation vessel…

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  • OGA unveils strategy to support Net Zero

    Move will support oil and gas industry to reduce greenhouse gas emissions, encourage progress on carbon capture and storage and hydrogen projects   The OGA is embedding the Net Zero challenge in its own work, and supporting the industry as it rises to this challenge…

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  • Qatar Petroleum to farm in to three blocks offshore Mexico

    Qatar Petroleum has signed three farm-in agreements to acquire about 30% of Total SA’s participating interest in Blocks 15, 33, and 34 in Campeche basin, offshore Mexico.   The blocks lie within 30-90 km of Cantarell and KMZ oil fields in water depths of 10-1,100…

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  • FPSO Sector Might Show Fast Recovery

    On the 27th January this year, back when crude oil was still trading above US$50 per barrel, the owner of a UK-based valve manufacturer and supplier told Rigzone that he was seeing a “busier” supply chain in the floating production storage and offloading (FPSO) vessel…

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  • Equinor to close Hammerfest LNG plant for maintenance

    Norwegian energy giant and LNG operator Equinor will be closing its Hammerfest liquefied natural gas export plant as part of planned maintenance in May.   Equinor will shut down the liquefaction facility located on Melkøya Island for two weeks starting in the second half of…

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  • Equinor divests its minority shareholding in Lundin Energy

    Equinor ASA has divested its financial shareholding in Lundin Energy AB, comprising around 14 million shares and corresponding to its 4.88% percent of the shares and votes, at a total sale price of approximately SEK 3.3 billion.   After the divestment, Equinor ASA will no…

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