Blog
Tendeka has received a Letter of Intent for a multi-million-pound contract to supply sand-face completion equipment to Aker BP’s Norwegian assets. Over the next three years, the existing frame agreement will see Tendeka deliver its sand screens and FloSure Autonomous Inflow Control Devices (AICDs) to Aker BP’s fields on the Norwegian Continental Shelf (NCS). Measured
Alaska’s $67 billion sovereign wealth fund, a pool that invests some of the state’s revenue from oil and other resources, is expressing displeasure with banks that oppose financing new Arctic exploration or development. Alaska Permanent Fund Corp. asked for a “productive dialogue” with JPMorgan Chase & Co., saying it was disappointed by the bank’s decision
Mike Wirth didn’t beat around the bush Tuesday: Chevron Corp. won’t go carbon neutral anytime soon. Wirth, chief executive officer of the second-largest U.S. oil company, called the goals set by many European rivals “aspirational.” Instead, he said, Chevron will take a more realistic path for a major producer of fossil fuels with “concrete actions”
The UK government has lost over £250 billion in 13 years by giving generous tax breaks to North Sea oil companies, according to an expert report. Increasingly lax tax regimes by successive Westminster governments have also left taxpayers with a £23 billion bill for decommissioning old oil rigs, it says. Campaigners are demanding a “just
Oil and gas is being demonised but the fact is we shall have to rely on it for years to come, says North Sea dealmaker Colin Welsh. The international partner with equity firm SCF Partners, who was the keynote speaker at Insider’s Deals and Dealmakers Business Breakfast in Aberdeen today, said it would take 20 to 30
Oil rose for a third day after Saudi Arabia pushed for a deeper output cut than OPEC’s technical committee recommended a day earlier. The Saudis are looking for a cut of more than 1 million barrels a day, after the Joint Technical Committee suggested a supply reduction of 600,000 to 1 million barrels a day
As the world watches an oil price war unfold between Russia, OPEC, and US shale, another major crisis is looming in the Middle East. Saudi Arabia is facing multiple existential threats as a renewed oil price slump threatens to not only hit the country’s revenues and economic diversification programs but also the already fragile position of Saudi
A ban on oil and gas drilling in the United States proposed by US Democrat presidential hopefuls will cost the economy $7 trillion, US oil industry lobby group American Petroleum Institute said on Thursday. In a new report, the API calls out the price climate plans laid out by the Democrat party frontrunner socialist Bernie Sanders
Balancing its ability to cause chaos in the global oil markets by closing/disrupting the Strait of Hormuz (through which flows around 35 per cent of the world’s oil supplies) with the necessity to keep its own oil exports revenues to Asia rolling in, Iran has moved exceptionally quickly on developing its Bandar-e-Jask port project. Crucially,
A capital gains tax claim for about $500 million is holding up Total SA’s acquisition of Occidental Petroleum Corp.’s assets in Ghana, according to Finance Minister Ken Ofori-Atta. Occidental is seeking regulatory clearance for the deal and the tax bill is among matters still to be resolved, Ofori-Atta said by phone on Monday. Houston-based Occidental