Canadian Energy Sector to Boost Spending
Capital spending by Canada's oil and gas industry will rise by 6%, or C$1.9 billion, in 2020 from the previous year, halting a six-year decline due to improving economics, the Canadian Association of Petroleum Producers (CAPP) forecast on Thursday.CAPP said a corporate tax cut by Alberta's…
Panoro Completes OMV Tunisia Acquisition
London-based international independent oil and gas company Panoro Energy ASA announced Friday it has completed its $65 million acquisition of OMV Tunisia Upstream GmbH from Vienna-based integrated oil and gas company OMV.Panoro Tunisia Production AS (PTP, 60 percent owned) now holds an indirect…
Swissco Sells Vessels to Allianz Middle East
Singapore’s Swissco Holdings, currently under judicial management, announced that it is disposing of a substantial part of its offshore support vessels division, which is expected to help reduce the group's liabilities.UAE's Allianz Middle East Ship Management has signed a deal to buy most of the OSV fleet of Swissco…
Panoro Energy Buys OMV Tunisia
London-based E&P company Panoro Energy said its Norwegian subsidiary Panoro Tunisia Production has reached an agreement with OMV Exploration & Production GmbH to acquire 100 percent of the shares of OMV Tunisia Upstream GmbH.According to the Oslo-listed company, the acquisition is for a cash…
Canadian Oil & Gas Drilling Slipping
Canadian drilling activity will fall 5 percent in 2019, as deep price discounts discourage production, an industry group forecast on Thursday.Canadian oil producers are collecting prices that are much lower than the U.S. benchmark due to severe pipeline bottlenecks, and weak prices may lead…
Xodus Delivers Tunisian Decommissioning study for TPS
Xodus Group has delivered a decommissioning and abandonment study for wells, surface and subsea facilities in Tunisia on behalf of Thyna Petroleum Services (TPS). Xodus developed a decommissioning cost estimate for four onshore fields, one offshore field and two onshore storage and processing sites.
DNV GL Opens LNG Test Center
DNV GL opens LNG test center. The facility, at the organization’s existing renewable energy technology and gas laboratory site is the first type of facility with a capacity compatible for the downstream sector. Its capacity is up to 250kg of liquefied gas and boasts a heat exchanger that…
Why Canada is the Next Frontier for Shale Oil
The revolution in U.S. shale oil has battered Canada's energy industry in recent years, ending two decades of rapid expansion and job creation in the nation's vast oil sands. Now Canada is looking to its own shale fields to repair the economic damage. Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations…
Industry Group Boosts Canadian Oil Well Drilling Forecast
The Petroleum Services Association of Canada upped its 2017 oil and gas well drilling forecast by 23 percent on Monday as global oil prices recover from a two-year rout. The industry body now estimates 5,150 wells will be drilled across Canada this year, up from its previous 2017 forecast, made in November, of 4,175 wells.
ADNOC Awards TWMA for Middle Eastern Partnership efforts
Global integrated drilling waste management and environmental services firm, TWMA, has won the Company & Contractor Partnership Award at this year’s ADNOC HSE Awards, in partnership with Abu Dhabi-based petroleum services company ESNAAD- PJS. The category recognises an outstanding partnership…
SPS Signs on as Malaysian Agent for OFG
Ocean Floor Geophysics (OFG) has appointed Salcon Petroleum Services (SPS) as its agent in Malaysia. Under the agreement, SPS, whose personnel possess technical and sales experience in the oil and gas industry, including marine electromagnetics (EM), will provide marketing support for all of OFG’s services in Malaysia.
Alberta's Oil Well Clean-up Plan Pressures Producers
Regulations aimed at ensuring tens of thousands of inactive oil and gas wells dotting the Alberta landscape are properly reclaimed could be a death knell for some producers already crippled by weak energy prices. The Alberta Energy Regulator's (AER) updated Licensee Liability Rating (LLR)…
OPITO Secures Contract with Oman Government
OPITO International, has secured a contract with the Ministry of Oil and Gas in Oman. The global oil and gas training standards body is working with the government, the Oman Society for Petroleum Services (OPAL) and employers to improve the delivery of training that will ensure the country has a skilled and safe oil and gas workforce.
Bunker Holding Buys LQM
Bunker Holding Group (Bunker Holding), a global leader in the purchase, sale and supply of marine fuel with 54 offices in 27 countries, announced today the acquisition of LQM Petroleum Services Inc. (LQM). LQM is one of the largest international marine fuel oil brokers who handles approximately 10 million mts per year across ~250 customers worldwide.
FTS International Enters China with Sinopec JV
FTS International said on Tuesday it has signed a 15-year joint venture with China's Sinopec Group in a first-of-its-kind partnership that brings the U.S. company's expertise in hydraulic fracturing to China's vast shale formations. Stymied by the cost and complexity of tapping shale gas…
DNV Petroleum Services Unveils New Name
DNV Petroleum Services’ (DNVPS) independence from Det Norske Veritas (DNV) less than a year ago led to the creation of Veritas Petroleum Services (VPS), a new entity that continues to retain its global leadership in fuel management services and enduring collaborative partnership with DNV GL.
North Sea firms “Biding Time”
Oil and gas operators may be sitting on new investment decisions until the future of the North Sea becomes clearer, according to the latest report from business advisory firm Deloitte. The report, which details drilling, licensing and deal activity across North West Europe over the third…
Outlook for Bunkering & Marine Lubricants in India
The "4th Annual Conference on the Outlook for Bunkering and Marine Lubricants in India" will be held on Thursday, December 4, 2014 at the Hotel Vivanta by Taj-President, Cuffe Parade, Mumbai. With the demand for shipping fuel at major Indian ports having climbed in the past week by up to 25 percent as the cost of refuelling at Singapore…
Deloitte : Investment Crucial for UKCS
The North Sea needs continued investment from businesses and government through its current period of transition, according to a new report from Deloitte, the business advisory firm. Deloitte’s Petroleum Services Group’s latest North West Europe Review, which details drilling, licensing, and deal activity across the region for the whole of 2014…
Abu Dhabi's Waha Capital to Invest $870 mln Cash Bounty
Abu Dhabi investment firm Waha Capital plans to invest 3.2 billion dirhams ($872 million) in the short-term to grow its energy, healthcare and infrastructure portfolio, its chief executive said on Sunday. Salem Rashid al-Noaimi spoke to Reuters after the firm posted an 88 percent increase…
