Premier Oil has entered into a sale and purchase agreement (SPA) to sell its entire equity interest in the Esmond Transportation System (ETS) pipeline in the North Sea to pay off its debts. The agreement was made with CATS Management Limited, an Antin Infrastructure…
Dutch company OOS International is looking to build what it says will be the world’s largest semi-submersible crane vessel. OOS International said on the 11th December that it has signed a memorandum of understanding with China Merchants Industry Holdings (CMIH), a subsidiary of Hong Kong’s…
Dutch provider of offshore support vessels, Vroon, has named the newest addition to its fleet in a ceremony held on the 8th December. Vroon said that the new member of the fleet, the VOS Stone, was named in Rotterdam by Ingrid van Driel, Vroon’s…
Iraqi Oil Minister Jabar Ali al-Luaibi said on the 10th December that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year. “This is an…
ExxonMobil has discovered oil in its EG-06 block offshore Equatorial Guinea. This was revealed on the 11th December by the country’s energy ministry which said that the well had been drilled in October 2017, and that ExxonMobil was assessing potential commerciality. Avestruz-1 is…
Sparrows Group has secured a new five-year contract with Premier Oil for the provision of crane operations and maintenance across two of its North Sea assets. The scope of work, awarded to Sparrows for the first time, will see the company provide offshore crane…
Vietnam’s state-run Binh Son Refining and Petrochemical Company (BSR) and state oil marketer PV Oil have signed non-binding term agreements with two western trading companies to buy crude, BSR officials said on the 8th December. SOCAR Trading will provide three million barrels a month…
On the 8th December, the Mexican national oil company Pemex blamed the cancellation of a potentially lucrative deepwater Gulf of Mexico project on weak investor appetite due to competition from recent auctions in Brazil and low oil prices. The country’s oil regulator cancelled a…
BASF and LetterOne have signed a letter of intent to merge their oil and gas subsidiaries Wintershall and DEA Deutsche Erdöl. If ratified, this would operate under the name Wintershall DEA. The groups say their intention is to create a basis for further…
The oil and gas industry will continue its slow recovery as upstream companies increase production, helping the midstream and services businesses as well, according to Moody’s 2018 outlook. Excess supply will continue to dampen oil prices in the coming year. Natural gas prices, on…
