Russian production fell by 170,000 b/d from April to May as the disruption to oil exports caused output to fall to 60,000 b/d less than the production-cut commitment. The last hurdle is restoring 750,000 b/d via the northern leg of Druzhba. However, thanks to…
Canadian resource companies are choosing to invest abroad at record levels, amid waning global interest in the nation’s energy and mining assets. Statistics Canada reported on the 28th May that Canadian-based energy and mining companies invested a net C$15.5 billion (US$11.5 billion) outside of…
Oil production in the US Gulf of Mexico is set to make new records in the imminent future, according to Norwegian oil and gas intelligence firm Rystad Energy. Rystad said on the 31st May that GoM oil production was a mere 1.28 million bpd…
Vår Energi has received consent from Norway’s Petroleum Safety Authority (PSA) to remove and dispose of the Jotun B platform in the North Sea. In addition, the PSA has authorised Equinor to use the semi-submersible Transocean Spitsbergen for top hole drilling as part of…
Vetter, a global operating Contract Development and Manufacturing Organisation (CDMO) has reached another important milestone regarding sustainability. Beginning immediately, all German sites of the company will be supplied with only CO2 neutral energy from certified renewable energy sources. This action underlines the CDMO’s commitment…
In sharp contrast to the wider UK economy, North Sea operators and contractors are bucking the trend and investing across people, R&D, technology and new markets to support continued growth, according to an industry report released on the 29th May. The findings of the…
Eni subsidiary Eni Mozambico has acquired rights to explore and develop three offshore blocks in the deep waters of the Angoche and Zambezi basins, the company announced on the 29th May. Through a farm-in agreement with ExxonMobil Mocambique Exploration & Production Limitada, Eni will…
Independent oil and gas company African Petroleum has set the expected date for the completion of the proposed merger with a privately held Africa-focused company PetroNor. African Petroleum agreed to combine with PetroNor for an all-share consideration of around 816 million shares in African…
Jan De Nul Group has commissioned COSCO Shipping Heavy Industry in China to build the Voltaire, its third offshore jack-up installation vessel. The Voltaire is specifically designed to transport, lift, and install offshore wind turbines, transition pieces, and foundations. The company added that it…
Lundin Petroleum is one of the leading independent E&P companies operating in the Norwegian Continental Shelf (NCS). At present it has for significant assets, two in production – Edvard Grieg and Alvheim, and two further fields in development, Johan Sverdrup and the Edvard Grieg…
