Transocean Ltd has reported that its shareholders have approved the acquisition of Ocean Rig UDW Inc. President and CEO Jeremy Thigpen said: “We are extremely pleased that our shareholders have overwhelmingly approved our acquisition of Ocean Rig. Through this combination, Transocean further enhances our…
Italian oil and gas explorer Eni, and its French partner Total, has plans to explore for hydrocarbons further in Cyprus, despite a recent setback when the company had to move its drillship out of the country amid Turkey’s objections. According to a statement this week…
Russia’s seizure of three Ukrainian patrol vessels and their crews in the Kerch Strait near the Black Sea on the 25th November provided a dramatic reason as speakers at a discussion on the 28th November at the Atlantic Council in Washington called for more changes…
Oil Refining Market size will surpass US$7 trillion by 2024, as reported in the latest study by Global Market Insights, Inc. Growing demand for lighter petroleum products along with introduction of several air borne emission regulations will drive the oil refining market share. …
Coal as the primary fuel in both China and India is a reality which will not change anytime soon. But these giants have committed to using more natural gas, a cleaner fuel that is quickly becoming the world’s go-to source of energy thanks to…
WA oil and gas producers have welcomed the Western Australian Government’s decision to lift the hydraulic fracturing moratorium on existing onshore gas projects. ‘The independent scientific inquiry has confirmed that properly regulated, hydraulic fracturing is a safe practice. Hydraulic fracturing has been used safely…
Equatorial Guinea has cancelled all contracts with Subsea 7, it was announced on the 21st November, citing non-compliance with local content regulations. The country took a similar move against Canada’s CHC Helicopters in July. Equatoguinean Minister of Mines and Hydrocarbons Gabriel Mbaga Lima…
Vista Oil & Gas intends to invest US$157.4 million on two pilot projects in Vaca Muerta, targeting oil in Argentina’s biggest shale play. The Mexico City-based company signed an agreement last week with the Undersecretariat of Energy, Mining and Hydrocarbons of Neuquen to start…
Saudi Aramco has awarded a Long Term Agreement for Offshore Facilities (LTA) programme contract to a consortium of Royal Boskalis Westminster NV and Lamprell Plc, the recipients reported earlier this week. The LTA covers engineering, procurement, construction, transportation and installation (EPCI) contracts to support…
There will be a pick-up in oil exploration activity next year, compared with 2018, according to a new report from Fitch Solutions Macro Research. “On an annual average basis, revenues will be boosted by higher oil prices, while still compressed services costs will flatter…
