UK increases windfall taxes on North Sea Oil and Gas Producers
Finance Minister Rachel Reeves said on Wednesday that the British government would increase its windfall tax for North Sea oil-and-gas producers from 35% to 38% and extend it by one year. Reeves, who presented the first budget of the new Labour Government…
Kansas Fed reports that drilling activity in the US Rockies and Midwest has fallen for the seventh consecutive quarter.
According to survey results released by Federal Reserve Bank of Kansas City on Friday, oil and gas activity in U.S. Midwest Rockies and Midwest declined in the third quarter. This is the seventh consecutive quarterly decline. The survey was…
Dallas Fed: Regional oil activity declines but electrification gains.
The Federal Reserve Bank of Dallas reported on Wednesday that oil and gas activity in Texas and Louisiana, as well as New Mexico, decreased in the third quarter. According to executives surveyed, third-quarter oil and natural gas production is mixed.
Offshore Wind: Floating Wind is the Future
$3 billion forecast to be invested in new anchor handlers to meet floating wind demand.Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 MW.
Offshore Oil Wells, Ports Shut as Hurricane Sally Advances on U.S. Gulf
Energy companies, ports and refiners raced on Monday to shut down as Hurricane Sally grew stronger while lumbering toward the central U.S. Gulf Coast, the second significant hurricane to shutter oil and gas activity over the last month.The hurricane…
Eni Splits Business into Renewables and Oil & Gas
Italian oil major Eni said on Thursday it was creating a division to focus on renewable energy, as part of a corporate reorganization.The overhaul, which Reuters reported on Wednesday, follows industry-wide upheaval as the coronavirus pandemic…
2021 to See 33 More FPSOs
A total of 33 floating production, storage and offloading (FPSO) vessels will be sanctioned between now and 2021 as oil and gas activity picks up in the offshore sector.Norwegian oil and gas intelligence firm Rystad Energy reports that 15 of…
Italy to Block Exploration Permits
The Italian government is planning to block the issuing of about 36 permits to look for oil and gas as part of plans to cut the country's carbon footprint, the industry ministry said on Wednesday.In a statement the ministry said upstream oil and gas activity in Italy was not of strategic importance
Halliburton Sees Share Hit in 3Q as Permian Activity Moderates
Oilfield services provider Halliburton expects moderating oil and gas activity in North America and a slower-than-expected ramp up of new contracts in the Middle East to impact its third quarter results by 8 to 10 cents per share, chief executive…
Weatherford Launches Two New Divestiture Processes
Weatherford International on Tuesday said a divestiture of its land drilling rigs was 'taking longer than expected'The company said the delay was due to increased interest in a geographic subset of the business, which has made the divestiture…
UK Welding Firm Eyes Norway, Denmark O&G Market
A U.K. based provider of integrated welding and engineering solutions QA Weld Tech said it is now recognized as a verified and compliant supplier on the Achilles Joint Qualification System (JQS) for the oil and gas industry in Norway and Denmark.
U.S. Rig Count to Peak Unless WTI Rallies
U.S. exploration and production companies have hired an extra 400 rigs to target oil-bearing formations since the end of May 2016, according to oilfield services company Baker Hughes. The number of active oil-directed rigs has more than doubled over the last year…
Oil Industry: Climate Deal a Chance to Innovate
If a crisis is a terrible thing to waste, the oil industry sees the Paris climate accord not as a death knell, but an opportunity to innovate and even grow. The move is a shrewd one for an industry that has been on the defensive for years on climate issues…
NOIA Rebuts “Red Herring” Study on Atlantic Development
“The Quest Study estimates the potential for jobs, economic activity and government revenue that could be generated from Atlantic development, assuming reasonable government policies supporting energy development are in place. Completed in 2013…
DW: Opportunity Abound in UK Offshore Wind Sector
In November, Energy Secretary Amber Rudd announced her vision for the energy system: to put consumers first, increase competition and secure electricity generation for the U.K. In addition to a proposal to end unabated coal-fired power stations and prioritize gas-fired power stations…
Wintermar Offshore Profits Dip
Wintermar Offshore Marine eports 9M/2015 revenue was down 42% YOY to US$76.4 million, as oil and gas activity continued to decline during the quarter. Lower activity levels in the upstream oil industry impacted utilization and charter rates, and as the previous quarter with few tenders for projects.
Côte D’Ivoire Invests in O&G Safety Training
Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries, according to international learning technologies company Atlas Knowledge.
'Man-camps' Emerge Strong Picks on LNG Potential
Oilfield camp providers banking on the long-term prospects of liquid natural gas export terminals in British Columbia are emerging as hot stock picks as their shares slump. Shares of Civeo Corp, Horizon North Logistics Inc and Black Diamond Group Ltd…
Russia Sanctions Could Slow Norwegian Arctic Exploration
Western sanctions against Russia may slow down exploration for oil and gas on both the Norwegian and Russian side of the Arctic Barents Sea, lobby group Norwegian Oil & Gas told Reuters on Wednesday. "We have many members working on both sides of the border…
Oklahoma Earthquake Surge Tied to Energy Activity -Study
A dramatic jump in the number of earthquakes in Oklahoma to a rate never seen there by scientists before, appears to be caused by a small number of wells where wastewater associated with oil and gas production is injected into the ground, a study released on Thursday said.
