Opedal Tapped for Top Spot at Equinor
The Equinor Board of Directors appointed Anders Opedal as its new president and CEO starting November 2, 2020. Eldar Sætre will retire after six years as CEO and more than 40 years in the company.Opedal ascends to the top spot coming from the position as Executive Vice President Technology, Projects and Drilling. He joined Equinor as a petroleum engineer in 1997…
Equinor Exploration Manager Steps Down to Take New Role
Norwegian oil and gas company Equinor has informed that its executive vice president Exploration Tim Dodson will step down as executive vice president Exploration, a role he held since 2011.In what Equinor said was a planned change to the leadership of Exploration, Dodson will take on the role as vice president Strategy Execution in Global Strategy and Business Development (GSB) from June 1…
Shell Appoints New Head of Refining
Royal Dutch Shell has appointed Huibert Vigeveno to head its downstream businesss, the refining operations that are to become a key pillar for the oil and gas company as it transitions to cleaner energy.Vigeveno, 50, previously led Shell's global commercial business and rose to prominence when he oversaw the integration of smaller rival BG Group after…
Exmar Commissions Tango FLNG
Belgian owner and operator of gas carriers Exmar has completed the commissioning of the 16,100 cbm Tango floating liquefaction unit (FLNG).The performance acceptance tests has been successful, the first cargo has been offloaded and will be exported out of Argentina, said a release from the provider of specialized floating assets.With this first shipment…
Voser Steps in as Interim CEO at ABB
ABB Chief Executive Ulrich Spiesshofer has quit the Swiss industrial group as the board and major shareholders look for a speedier turnaround at the maker of industrial robots and supplier of factory automation.Spiesshofer’s abrupt exit follows the launch of the biggest overhaul in ABB’s 31-year history to reposition the company more toward digital industries…
Saudi Aramco, Total in USD1bln Pact
Saudi Aramco and Total hasve signed a joint venture agreement to develop a network of fuel and retail services in Saudi Arabia.The 50:50 JV plans to invest around $1 billion over the next six years in the Saudi fuel retail market and start providing motorists with premium fuels and retail services in the Guf kingdom.“This is a major milestone which will help establish a quality retail fuel network in the Kingdom.
Shell Appoints Sawan as Upstream Boss
Royal Dutch Shell has appointed Wael Sawan to head its oil and gas production division, replacing Andy Brown who will step down after 35 years at the Anglo-Dutch company.Sawan, 44, a Canadian citizen of Lebanese origin, currently heads Shell's deepwater operations, one of the company's cash growth engines in recent years. He joined Shell in 1997.Brown, 56, will remain a member of Shell's executive committee until his departure on Sept.
Leadership Changes at Anadarko
Anadarko Petroleum Corporation announced Thursday that Bob Gwin, formerly Executive Vice President (EVP), Finance and CFO, has been named President. In his new role, Gwin will be responsible for leading Anadarko's worldwide operations, project management, exploration, midstream and marketing, as well as the company's expanding next-generation technology…
Offshore Achievement Award winners Announced
Winners of the 2018 Offshore Achievement Awards were announced last night {22 March} in a celebration of industry talent, innovation and enthusiasm. The Society of Petroleum Engineers (SPE) Aberdeen Section revealed the 11 winners to an audience of more than 450 people, with categories covering technology innovation, company performance and individual achievement across the UK offshore energy sector.
Hardy Takes Over as Vitol CEO
Ian Taylor, who helped build Vitol into the world's biggest oil trader, will step down as chief executive and continue as chairman, the company said on Friday, naming a long-time ally and insider, Russell Hardy, as the new group CEO. Taylor said two years ago he was battling cancer although he continued to travel the world, chasing deals from Africa to…
IMO Rules a Cliffhanger for Oil Storage -Vitol's Chris Bake
Vitol executive committee member Chris Bake says a big question facing oil storage sector is how world handles new International Maritime Organisation rules for cleaner shipping. New IMO rules to slash the use of high sulphur fuel oil in global shipping will come into effect in 2020. "It's going to be more and more difficult to burn that fuel oil with more economies going to natural gas for power," he said.
Vitol's Bake Sees 'Strong' 2018 Oil Demand
"OPEC remains disciplined and the consequences are visible in track down in inventories...Half a billion barrels of oil has been drawn down in a short period of time," said Blake. Bake said it was difficult to determine whether the industry had overbuilt incremental storage as reasons other than market structure play a role, such as changing trade patterns.
Tidewater Names Rynd President, CEO
Tidewater Inc. (NYSE: TDW) appointed John T. Rynd as the company's new President and CEO and a member of the Board of Directors effective March 5. He replaces Larry T. Rigdon who has served as interim President and Chief Executive Officer since October of 2017. Tom Bates, Chairman of the Board of Directors, said "After completing a comprehensive search, the Board is very pleased to welcome John to the team.
Total to buy Kenyan Oil Block Shares from A.P. Moeller-Maersk
Total SA is to buy shares in three Kenyan oil blocks from A.P. Moeller-Maersk , the office of Kenya's President Uhuru Kenyatta said on Tuesday. Britain's Tullow Oil, and its Canadian partner Africa Oil, discovered commercially viable crude in Turkana region in the far north of Kenya in 2012. A.P. Moeller-Maersk later bought equity in these blocks. Full…
Hovem Named CEO of DNV GL Oil & Gas
Liv Hovem will step in as CEO of DNV GL’s Oil & Gas business area from January 1, 2018. She will be based at the DNV GL – Oil & Gas headquarters in Høvik, Norway as a member of the DNV GL Group's Executive Committee reporting to Group President and CEO Remi Eriksen. Hovem succeeds Elisabeth Tørstad, who has been appointed CEO of DNV GL’s new Digital Solutions business area.
Full Tanks & Tankers: A Stubborn Oil Glut Despite OPEC Cuts
After the first OPEC oil production cut in eight years took effect in January, oil traders from Houston to Singapore started emptying millions of barrels of crude from storage tanks. Investors hailed the drawdowns as the beginning of the end of a two-year supply glut - raising hopes for steadily rising per-barrel prices. It hasn't worked out that way.
Vitol: Oil Market Not Seeing 'destocking'
The oil market has not seen the destocking that it expected for the first half of 2017, Vitol executive committee member Chris Bake said on Thursday. Bake told the S&P Global Platts Crude Oil Summit that while oil inventories were shifting, with cargoes moving from the Atlantic Basin into Asia, the overall drawdown that many hoped for amid OPEC-led production cuts had not yet materialised.
U.S. Granted BP Joint North Sea field License with Iran
BP and Iran's state-run oil company received a licence from the U.S. Treasury last year to operate their joint gas field in the North Sea following the lifting of Western sanctions on Tehran, BP said on Thursday. Production at the Rhum field was suspended in 2010 when Europe imposed sanctions on Iran over its nuclear programme and only resumed four years…
Trump Picks Rick Perry for Top US Energy Job
President-elect Donald Trump on Wednesday named former Texas Governor Rick Perry to head the U.S. Department of Energy, handing the job to a climate change skeptic with close ties to the oil industry who once proposed abolishing the department. The choice adds to a list of drilling proponents who have been tapped for top jobs in Trump's administration…
Vitol Bets on Retail Model as it Hopes to Grow
Vitol invests in gas stations from Turkey to Pakistan; increases presence in growing consumer markets. From Pakistan to Turkey, the world's largest independent oil trader Vitol is betting on a spike in gasoline and diesel demand in young and growing nations by snapping up filling stations that disappointed oil companies are prepared to sell. With the sharp drop in global oil prices…
