Equinor to close Hanoi office after halting Vietnam offshore wind plans
A company spokesperson revealed that Norway's state controlled energy giant Equinor had cancelled plans to invest into Vietnam's offshore sector. This is a blow for Vietnam's green power aspirations. According to the World Bank Group's report, Vietnam has drawn international attention to its renewable energy…
Wasted Gas: As Global Supplies Tighten, Here’s 210 bcm of Natural Gas for the Taking – IEA Report
A new report from the International Energy Agency (IEA) estimates that if there was a concerted, global effort to eliminate unnecessary flaring and control leaks across the supply chain, nearly 210 billion cubic meters (bcm) of natural gas could be made available to gas markets.Russia’s war with Ukraine has…
US Oil Industry Group Pledges to Fight Possible Biden Fracking Limits
If U.S. President-elect Joe Biden tries to restrict development of oil and gas drilling on federal lands, the American Petroleum Institute (API) will use "every tool at its disposal" including legal action, chief executive Mike Sommers said in an interview with Reuters on Monday.Biden has said he supports a…
Enabling AI in E&P
Oilfield services company Schlumberger and software firm Dataiku have teamed up to enable the exploration and production (E&P) industry to build and deploy their own artificial intelligence (AI) solutions across the full breadth of their upstream workflows within the DELFI cognitive E&P environment.Under an exclusive technology agreement…
Oxy Plans to Sell Parts of Anadarko
Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum.It also quadrupled its debt - to $40 billion - at a time when investors are calling for spending cuts and higher dividends.That means the acquisition's…
OPT Wave Power System Reaches Milestone
US-owned renewable energy company Ocean Power Technologies (OPT) announced that the Company's PB3 PowerBuoy deployed in the Adriatic Sea has produced more than one MegaWatt-hour (MWh) cumulative energy to date. The cost-effective ocean energy solutions provider said that the PowerBuoy has been deployed for six months…
Medco Energi's Potential Deal with Ophir Seen as Diversification Play
Medco Energi Internasional Tbk PT would boost its valuations and gain access to international assets if its potential takeover of London-listed Ophir Energy occurs, analysts said on Wednesday.Medco confirmed this week that it was in talks with Ophir about a possible cash offer for the oil and gas exploration and production company currently based in Britain.
Ultra Petroleum Appoints David Honeyfield as CFO
Ultra Petroleum informed that David Honeyfield has been appointed to serve as CFO of the gas producer with assets in Wyoming’s Green River Basin.A press release from the energy company engaged in domestic natural gas and oil exploration, development and production said that Honeyfield has over 25 years of experience…
Clean Ops Offshore: Johan Sverdrup Powered from Shore
With a flip of the switch, Kjell-Børge Freiberg, Norway's Minister of Petroleum and Energy, opened a new era in offshore oil and gas operations, initiating the "power-from-shore solution" that will provide the Johan Sverdrup field in the North Sea with electricity for more than 50 years. The development is significant because with electric power supplied from shore…
Baker Hughes Acquires 5% of ADNOC Drilling for $550 Mln
Baker Hughes, the world's second-largest oil services company, will take a 5 percent stake in Abu Dhabi National Oil Company's (ADNOC) drilling unit for $550 million under a tie-up announced on Monday.Baker Hughes (BHGE) becomes the first foreign company to take a stake in one of state-owned ADNOC's services…
Total Sees Cash Flow, Output Boost from Deepwater Projects
Oil and gas major Total said on Tuesday it expected deepwater oil and gas operations to make a strong contribution to its output and cash flow thanks to major developments in the West Africa's Gulf of Guinea region, Brazil and U.S. Gulf area.Production from deepwater projects is expected to reach 500,000 barrels of oil equivalent per day (Kboe/d) by 2020…
BSEE Approves Arctic Offshore Suspension Requests
The Bureau of Safety and Environmental Enforcement (BSEE) approved suspensions of operations Tuesday in response to requests from the Arctic Slope Regional Corporation Exploration, LLC (AEX) related to AEX’s 20-lease Taktuk Unit, and one additional lease, in the Beaufort Sea. The leases, which are located in the Camden Bay area…
BSEE Launches Risk-Based Inspection Program
The Bureau of Safety and Environmental Enforcement (BSEE) this week announced the implementation of a new Risk-Based Inspection Program that employs a systematic framework to identify facilities and operations that exhibit a high-risk profile. The risk-based inspections supplement BSEE’s existing National Safety Inspection Program.
API Launches Voluntary Program to Cut Methane
The American Petroleum Institute on Tuesday launched a voluntary program to cut emissions of the greenhouse gas methane from oil and gas operations, a move environmentalists said was not strong enough to adequately protect the climate. Under the program, agreed to by 26 companies including Exxon Mobil subsidiary XTO Energy…
Hurricane Harvey Strengthens, Threatens US
Hurricane Harvey intensified early on Friday into potentially the most powerful hurricane to hit the U.S. mainland in more than a decade, as authorities warned locals to shelter from what could be life-threatening winds and floods. Harvey is set to make landfall late Friday or early Saturday on the central Texas…
Baker Hughes Posts Smaller 2Q Loss
Oilfield services provider Baker Hughes , now part of General Electric Co, on Friday reported a smaller quarterly loss compared with a year earlier, when it incurred restructuring charges. Net loss attributable to Baker Hughes narrowed to $179 million, or 42 cents per share in the second quarter ended June 30, from $911 million, or $2.08 per share, a year earlier.
Trump's EPA to Reconsider O&G Emissions Rule
The U.S. Environmental Protection Agency said on Wednesday it would reconsider a rule on emissions from oil and gas operations and delay its implementation, marking the Trump administration's latest effort to dismantle Obama-era environmental regulations. Oil interest groups, including the American Petroleum Institute and the Texas Oil and Gas Association…
Danish Finance Minister to Report on North Sea Oil Negotiations with Maersk
Denmark's finance minister Kristian Jensen will hold a news conference about the government's ongoing negotiations with the Danish Underground Consortium (DUC) about a new tax agreement for North Sea oil and gas operations at 1745 CET on Wednesday, the finance ministry said in a statement. DUC consists of Danish shipping and oil conglomerate A.
Maersk, Denmark Close In On North Sea Oil Deal
Oil and shipping conglomerate A.P Moller-Maersk could land a deal with the Danish government on oil and gas operations in the North Sea within days, political sources with knowledge of the negotiations told Reuters on Tuesday. The deal will secure continued production in the Danish part of the North Sea and…
Statoil Wins Offshore Wind Lease in New York
Just days after Deepwater Wind said its Block Island Wind Farm has begun delivering electricity into the New England region’s grid, Statoil reports that it has been declared the provisional winner of the U.S. government’s wind lease sale of 79,350 acres offshore New York. Statoil will now have the opportunity…
