Oilfield services (OFS) companies around the globe will face stronger demand for their services in 2018, according to a new report from BMI Research. Oil and gas analysts at BMI believe that recovering onshore activity in the US will boost demand for drilling and…
Following a spate of stern tube seal failures, Antwerp-based Hydrex has reiterated its capability in carrying out repairs to stern tube seals during a ship’s routine port visit, saving the expense and loss of revenue of unscheduled dry-docking. Stern tube seals can suffer undue…
Oil major BP has been told to proceed with the Scotian Basin Exploration Drilling project by the Canadian Environmental Assessment Agency. Catherine McKenna, Canada’s Minister of Environment and Climate Change, said on the 1st February that the Scotian Basin Exploration Drilling Project was not…
BHP Billiton Ltd, seeking to accelerate the sale of its US shale unit, is prepared to offer the assets in as many as seven packages, including three in the prized Permian basin, according to people with knowledge of the producer’s plans. The world’s biggest…
The West Hercules semi-submersible rig has been contracted for drilling two exploration wells in the Barents Sea in 2018, and options to drill another five exploration wells. Statoil and the licence partners have signed a contract with North Atlantic Norway Ltd for use of…
ExxonMobil’s US upstream earnings recorded a loss of US$429 million for full-year 2017, excluding US tax reform and impairments. With US$7.6 billion of tax reform benefits and US$521 million in asset impairments, the super-major reported US$6.6 billion in US upstream earnings in 2017. US…
US oil production surged above ten MMbpd for the first time in four decades, another marker of a profound shift in global crude markets. The milestone comes weeks after the International Energy Agency said the US is poised for “explosive” growth in oil output…
First oil from Norway’s giant Johan Sverdrup field could come in October 2019, one of the partners, Sweden’s Lundin Petroleum, said in presentation material accompanying its earnings report on the 1st February. Alex Budden, Lundin’s head of communications and investor relations, told analysts and…
Aker BP has received consent from the Petroleum Safety Authority (PSA) to drill an exploration well in the Norwegian Sea using the Deepsea Stavanger rig. The well is located in block 6507/5 in production licence 212 in the Norwegian Sea, some five kilometres west…
Chinese offshore oil and gas company CNOOC Ltd said on the 1st February it planned to ramp up spending by at least 40 percent in 2018, as well as raise production, thanks to a more “suitable” oil price. The company, the listed upstream arm of state-owned China National…
