Rolls-Royce has signed a long-term service agreement with offshore vessel owner Siem Offshore for the maintenance of its deck machinery installations aboard 12 anchor handling vessels. Rolls-Royce said on the 9th May that the five-year maintenance inspection programme (MIP) was the formalisation of a…
The Ministry of Oil has announced that BP has signed a contract to develop the Kirkuk oil fields. The deal with the North Oil Company (NOC) will see BP will boost output capacity from the six fields in the Kirkuk region to more than…
Crude oil prices jumped back to near 3-1/2-year highs on the 9th May after President Donald Trump pulled the United States out of an international nuclear deal with Iran, sparking worries about fresh tension in the Middle East and global oil supplies. Asian shares…
Statoil has started preparations for hook-up and completion at the Johan Sverdrup field Phase 1 complex in the Norwegian North Sea. Around 150 people will sail soon on the floating accommodation vessel Safe Zephyrus from Mekjarvik outside Stavanger and should arrive at the field…
Allseas’ Pioneering Spirit has completed deep-water pipelay for Line 1 of the TurkStream offshore gas pipeline through the Black Sea. According to operator Gazprom, the average laying rate was 4.3 kilometres a day (2.7 miles a day), with the maximum rate of 5.6 kilometres a day (3.5 miles…
The Alaska LNG Project reached a historic milestone on the 7th May, as BP Alaska and Alaska Gasline Development Corporation (AGDC) announced the parties have agreed to key terms of a Gas Sales Agreement, including price and volume. The terms are captured in a Gas…
Oil major Shell has made an agreement to sell its entire stake in Canadian Natural Resources Limited, a Calgary-based oil and gas company, in a bid to reduce its debt. Shell said on the 8th May that its subsidiary, Shell Gas BV (SGBV), has entered…
Premier Oil has contracted Shearwater GeoServices to acquire high-resolution 3D seismic over the Tolmount gas field in the UK southern North Sea. The Polar Duchess will start the 400-square kilometre (154-square mile), one-month survey late next month. Tolmount, off the Yorkshire coast, is one of…
Saudi Arabia would supply Sudan’s energy needs for five years on credit under an agreement being discussed by both governments, Sudan Oil Minister Abdulrahman Othman said on the 7th May. Othman said the deal would provide about 1.8 million tonnes of oil a year…
Plunging Venezuelan crude production; sanctions disrupting Iranian oil exports; Saudi Arabia pushing for even higher prices; North Korea peace talks — the coming weeks bring an abundance of risks for the oil market. The geopolitical premium has already helped lift crude prices to a…
