Insurers Face Liability Uncertainties as Ships Begin to Sail Through Arctic Waters When Captain Will Whatley guides a ship through Arctic waters, he is starkly aware of what can go wrong. Double the manpower is needed to navigate. Lookout shifts are kept to just…
The UK Oil and Gas Authority (OGA) has published a new thematic review which highlights that there is room for improvement. The OGA said the review recognises that industry is improving following earlier interventions but stresses the importance of maintaining the high standards now…
Solstad Offshore said that Petrobras has extended the current contract of RSV Far Saga for a period of one year and picked up another vessel for operations in Brazil. According to Oslo-listed Solstad, the contract started on Friday, 30 October 2020. The Far…
Exploration activity on the Norwegian shelf is profitable in all areas, according to a resource report from the Norwegian Petroleum Directorate (NPD). Torgeir Stordal, director for Exploration at the NPD, said: “A diverse range of players, good access to acreage, and a higher volume…
Companies in the industrial sectors account for more than 12Gt of the CO2 emissions worldwide. To reduce emissions, governments and companies have intensified their efforts to transition to a carbon neutral economy by increasing green energy sources, mainly renewables. Siemens Gamesa is leading the…
Providence Resources is finalising the commercial terms of a farm-out of the Barryroe licence with SpotOn Energy. In order to facilitate full completion of the farmout documentation, Providence has agreed to extend the exclusivity period to the 30th November 2020. CEO Alan Linn commented:…
BP will cease production from its Kwinana oil refinery south of Perth and convert the facility into a fuel import terminal. Oversupply in Asia and sustained low refining margins have made the refinery uneconomical, and – after exploring numerous options – conversion to a…
Tethys Oil, through subsidiary Tethys Oil Oman Onshore Ltd, will become increase its holdings and become operator in the exploration and production licence covering Block 56 onshore Oman in a farm-in agreement with Medco Arabia Ltd, a subsidiary of PT Medco Energi Internasional Tbk of…
There’s been an ongoing pendulum swing between majors and independents as the controlling group of the Permian basin’s destiny for many years, but who controls the region now? Well, according to a new Wood Mackenzie (Woodmac) editorial from the company’s Americas upstream oil and…
The worst-kept secret in Newfoundland and Labrador’s oil industry has been confirmed: an exploration drilling campaign this summer in the Flemish Pass Basin has resulted in new discoveries. The results will likely raise hopes about the future of the Bay du Nord project, which…
