Serica Energy has entered into a contract for the provision of a drilling rig for the intervention work on the Rhum-3 (‘R3’) well on behalf of the Rhum partners. The work will be carried out using the AwilcoDrilling’s WilPhoenix, a third-Generation, Enhanced Pacesetter, harsh-environment,…
Global Clean Energy Holdings Inc.(GCEH) has acquired and plans the immediate conversion of Delek US Holdings Inc subsidiary Alon Bakersfield Property Inc’s idled 70,000-b/d Bakersfield, California refinery into a renewable diesel production plant . GCEH, which closed the deal on the 7th May at a…
In Rigzone’s most recent review of weekly oil market “hits and misses” one market-watcher pointed out that demand is recovering, albeit slowly. In their preview of what to watch this week in the oil market, panellists anticipate limited price growth, more production shut-ins and perhaps…
The second quarter of this year will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry. That’s what IHS Markit stated in a new industry note, which outlined that the company now expects as much…
Classification society Bureau Veritas (BV), a provider of testing, inspection, and certification services, has noted a 900 per cent rise in demand for the remote inspection of offshore assets and equipment since the outbreak of the COVID-19 pandemic. BV said on the 11th May…
PetroNor has reached an accord with Senegal’s government on suspending the arbitration related to the Rufisque Offshore Profond and Senegal Offshore Sud Profond licence areas for six months. It follows progressive dialogue with the relevant authorities. Eyas Alhomouz, chairman of PetroNor E&P Ltd,…
Petro Matad, the AIM quoted Mongolian oil explorer, has provided an update on cost saving measures and its application for an Exploitation Licence covering the Heron-1 oil discovery. In order to ensure that the Company’s current financial resources can sustain the organisation through the…
Forced Pay-outs of Pandemic Claims Risk Insurers’ Financial Stability: Regulators Forcing retroactive pay-outs to cover business disruption losses resulting from the coronavirus pandemic could ultimately put financial stability at risk, global insurance regulators have said. Disputes over cover for businesses struggling to stay afloat…
Chubb appoints Guney Celik as regional head of marine for Eurasia & Africa Global (re)insurer Chubb has announced the appointment of Guney Celik as regional head of marine for Eurasia & Africa. In his new role he will take responsibility for the ongoing expansion…
Oil notched its first back-to-back weekly gain since February amid optimism around production cuts beginning to eat into a massive supply glut. Futures in New York climbed 25% last week. Explorers are cutting production in response to crude oil trading in the US$20-a-barrel range….
