Category Oil & Gas Blog
The U.S. will sell up to 12 MMbbl of oil from its emergency government stockpile just as global crude demand takes a hit from the spreading coronavirus. The crude would be delivered to U.S. Gulf Coast pipelines in April and May, adding incremental barrels to an already oversupplied market at a time when oil demand
Oil exports by Brazilian state-run Petrobras should fall slightly in the first quarter, thanks to scheduled maintenance stoppages at offshore platforms, executives said on Thursday. On a conference call to discuss the firm’s fourth-quarter results, the executives added that January production was little changed from December.On Wednesday evening, Petroleo Brasileiro SA, as the firm is
Equinor ASA has dropped plans for oil drilling deep in the ocean off Australia’s south coast following a sustained campaign from environmentalists who said the project posed too big a risk to the vast and unique marine ecosystem. The Norwegian company won’t drill the Stromlo-1 exploration well in the Great Australian Bight because “the opportunity
Schlumberger announced today the opening of a world-class manufacturing center in King Salman Energy Park (SPARK) that supports Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) program to promote economic growth. The center will manufacture well completions technologies including liner hangers and packers and isolation valve technologies, such as GROVE* valves and ORBIT* rising stem ball
After months of planning, BP’s new CEO Bernard Looney made his big green pitch: Europe’s second-largest oil company will cut its emissions to net zero by 2050, he said earlier this month. Many thought that made BP the world’s first supermajor to take responsibility for all its emissions. It did not do that. Every company
Italian oilfield services firm Saipem reports it has been awarded several engineering, procurement, construction and installation (EPCI) contracts in various countries worth over $500 million combined. The first EPCI contract has been awarded by Saudi Aramco in the Kingdom of Saudi Arabia as part of the Long-Term Agreement in force until 2021. The scope of
A Large area of Aberdeen has been blocked off by police tonight. Multiple streets have been sealed off amid reports of residents being evacuated. Several streets around Rosemount including Esselmont Avenue and Albert Street are completely sealed off with pedestrians and vehicles being denied access. Update: The bomb squad are in attendance having arrived from
A buyer of liquefied natural gas has canceled two cargoes from Cheniere Energy Inc., the biggest U.S. exporter, as a global glut pummels prices for the fuel and threatens to shut a key outlet for shale production. Spanish utility owner Naturgy Energy Group SA has decided not to take delivery of two shipments from Cheniere,
Hedge funds are bracing for more trouble in the oil market, even after crude rebounded for a second week on hopes the coronavirus outbreak’s threat to economic growth is waning. Bets against West Texas Intermediate crude increased by 11% to the highest in four months during the week ended Feb. 18, data released Friday showed.
Deep Down, a U.S.-based subsea oil and gas equipment supplier, has received an order from Shell for a delivery related to Shell’s Whale development in the U.S. Gulf of Mexico. Under the contract with Shell, Deep Down will design, engineer and manufacture a Riser Isolation Valve (RIV) control system as well as other subsea production