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Record-size US Offshore Oil Lease Sale Draws Modest Bidding

March 21, 2018

Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration's efforts to rapidly pump up investment in the region. The Interior Department…

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CGG Begins Deepwater Survey Offshore Brazil

March 16, 2018

CGG said it has commenced acquisition of a large broadband 3D multi-client survey in the pre-salt area of the deepwater Santos Basin. Santos VIII is the most recent survey in CGG’s vast ongoing pre-salt program that delivers ultramodern seismic data…

Hardy Takes Over as Vitol CEO

March 15, 2018

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…

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More Exploration off Norway Needed to Maintain Output -Petoro

March 14, 2018

Oil companies must explore for more offshore oil and gas reserves if Norway is to maintain energy production at its current level, state-owned oil firm Petoro said on Wednesday. Petoro holds stakes in several oil and gas firms off Norway and…

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BMT Rolls Out New Big Data Product: BMT Deep

March 13, 2018

BMT has introduced BMT Deep, an advanced interactive asset data platform designed to deliver deeper insights for enhanced offshore asset performance management. “With 20+ years practical experience of working with marine structures, we have developed a platform that can monitor…

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MISC Berhad Names FSO Benchamas 2

March 12, 2018

MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil…

Woodside to Operate Scarborough

March 12, 2018

Woodside and BHP have entered into an agreement in relation to the proposed development of the Scarborough gas field. BHP waived its right of pre-emption and provides its consent to the sale by ExxonMobil to Woodside of its 50 percent interest…

Start of Golar's FLNG in Cameroon May Draw More Africa Clients

March 12, 2018

Golar LNG said on Monday it had started production at its floating LNG (FLNG) platform in Cameroon, the world's second working example of the nascent technology and a milestone likely to boost its Fortuna project in Equatorial Guinea. As the…

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BSEE: Report on Subsea Bolting Technology Released

March 10, 2018

In an effort to address a recurring problem with faulty connectors in critical safety equipment, the Bureau of Safety and Environmental Enforcement (BSEE) commissioned a National Academy of Engineering study on the matter in September 2016.

Ex-Petrobras CEO Bendine Convicted of Corruption in Brazil

March 8, 2018

Aldemir Bendine, the former chief executive of state-controlled oil firm Petroleo Brasileiro SA and Banco do Brasil, was found guilty on Wednesday of corruption charges and sentenced by a federal judge to 11 years in prison. Judge Sergio Moro…

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New Operator in Mexico's Ogarrio oil field

March 7, 2018

Deutsche Erdoel Mexico, the affiliate of the German E&P company DEA Deutsche Erdoel AG, Pemex and the Mexican National Hydrocarbons Commission (CNH) have signed the licence contract for the Ogarrio field in Mexico on 06 March 2018. Deutsche…

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U.S. Steel Tariff Could Impact Shell GoM Decisions

March 7, 2018

A potential tariff on U.S. steel imports could affect Royal Dutch Shell's plans to go ahead with a major oil field development in the Gulf of Mexico, a company executive said on Wednesday. Wael Sawan, who heads Shell's deepwater operations,…

Exxon, Total, Repsol among bidders for oil exploration off Greece

March 5, 2018

Oil majors Exxon Mobil, Total and Repsol are among members of two consortia that have submitted bids to explore for oil and gas off Greece. Greece's oil and gas resources management company (HHRM) said on Monday that Exxon and Total, each with 40 percent stakes…

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WinGD, HHI Partner for Digital Tech

March 3, 2018

Winterthur Gas & Diesel (WinGD) and Hyundai Heavy Industries (HHI) Group recently signed, the first agreement of its kind to integrate their advanced digital technologies to provide greater insight and benefit to ship owners from their engine and ship data.

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U.S. Considers Venezuela Oil Sanctions

March 1, 2018

The Trump administration is considering sanctioning a Venezuelan military-run oil services company and restricting insurance coverage for Venezuelan oil shipments to ratchet up pressure on socialist President Nicolas Maduro, a U.S. official said.

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Exxon Selling Stake in Terra Nova Oil Project

February 27, 2018

Exxon Mobil Corp is selling its entire stake in the Terra Nova oil project off the eastern coast of Canada, though the world's largest publicly traded oil producer said it was committed to remaining an investor in the region. The project, located…

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Pemex Posts Nearly $18 Bln Q4 Loss

February 26, 2018

Mexican state-owned oil company Pemex made a 352.3 billion ($17.9 bln) peso loss in the fourth quarter of 2017, the company reported on Monday, blaming a volatile exchange rate and higher financing costs for its performance. Revenue at the company…

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Total Lubmarine debuts Environmentally Lubricant

February 25, 2018

Total Lubmarine has announced the introduction of a new grease product: BIO OG PLUS – an innovative addition to an already comprehensive Environmentally Acceptable Lubricant (EAL) range. Specifically formulated for sensitive applications such as open gears and chains under high load…

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CEO Haugan Leaves Kvaerner to Lead Aker Energy

February 23, 2018

Jan Arve Haugan resigns as President & CEO of Kvaerner, and from March 1, 2018, he will start his new role as CEO of the newly established oil company Aker Energy. Idar Eikrem, Executive Vice President and Chief Financial Officer in Kvaerner, is appointed interim CEO.

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Kvaerner Invests in New Quay at Stord

February 13, 2018

Kvaerner said it plans to invest NOK 370 million ($46.8 million) in a new quay at the company's facility at Stord. "The objective for this upgrade will be to make the facility more flexible. We invest now to strengthen our competitiveness, and…

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Singapore Marine Fuel Sales Surge 7.2%

February 13, 2018

Singapore's marine fuel sales set a monthly record in January after climbing to 4.606 million tonnes, up 3.2 percent from a year earlier as vessels coming to the world's largest bunkering hub loaded larger amounts of bunker fuel per vessel on average, official data showed.

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