A looming US sanctions deadline is threatening to clobber Venezuela’s dwindling oil-rig fleet and hamper energy production in the nation with the world’s largest crude reserves. Almost half the rigs operating in Venezuela will shut down by the 25th October if the Trump administration…
Cuadrilla has confirmed micro seismicity was detected at 11.01 pm (on the 24th August) by the highly sophisticated monitoring system in place at the shale gas exploration site in Preston New Road, near Blackpool, Lancashire. The company added: “We can confirm that a micro…
Wholesale prices in Queensland are believed to have set two new records in the past week – falling to and below zero for six days in a row, and hitting negative prices for five days in a row as the string of good weather, mild…
Maersk Drilling sees mixed signs in the markets for its offshore rigs, according to the company’s latest results statement. The steady recovery of the jack-up market continued during the second quarter, the company said, with the number of contracted units rising, and take-up of…
Premier has signed a Sale and Purchase Agreement with 88 Energy and Burgundy Xploration LLC to farm-in for a 60 per cent interest in Area A of their conventional Project Icewine acreage in the proven Alaska North Slope basin. This acreage lies close to…
Premier Oil is looking for a farm-out partner for its Sea Lion offshore oil development in the Falklands Islands. The UK-based oil firm is operating the project with a 60 percent stake, with the remaining 40 percent currently held by Rockhopper exploration. The…
Norway government’s climate change tackling fund Enova has awarded Equinor up to NOK 2.3 billion (US$256,59 million) grant to support the development of a floating offshore wind farm which would electrify offshore oil platforms in the Norwegian sector of the North Sea. Enova is…
Equatorial Guinea is set to construct the first liquefied natural gas storage and regasification plant in West Africa, advancing efforts to monetise gas resources through the creation of domestic gas-to-power infrastructure. Located at the Port of Akonikien on the country’s mainland, the plant will…
Bahamas Petroleum Company (BPC) has entered an agreement and appointed contractors for its first commitment exploration well offshore the Bahamas. Seadrill, under a framework agreement, will provide a sixth-generation drilling rig for the programme which is due to start in the first half of…
Pembina Pipeline Corporation has increased its bet on the future of Canada’s turbulent oil-sands industry, agreeing to buy Kinder Morgan Inc’s Canadian unit and the US portion of a key pipeline for about C$4.35 billion (US$3.3 billion). The deal makes Pembina a major player…
