Russian oil company Rosneft and National Iranian Oil Company have signed an oil and gas strategic cooperation agreement during a visit of the Russian President to Teheran.
Offshore driller Rowan reported a net loss of $20.9 million in the third quarter of 2017, compared to net income of $5.5 million a year ago.
Greek oil company Energean has signed three new gas sales and purchase agreements (GSPAs) for natural gas supply from the Karish and Tanin Fields, offshore Israel. The agreements were signed between Energean’s subsidiary, Energean Israel, Dorad Energy and with Ramat Negev Energy and Ashdod Energy, b
Saudi Arabia’s Crown Prince Mohammed bin Salman on Saturday said that the Kingdom of Saudi Arabia is ready to support the extension of an oil production cut agreement reached last year between OPEC and some Non-Opec nations in order to balance global crude oil supply and demand. “The Kingdom affirms
The Dubai subsidiary of Scottish energy industry equipment manufacturer and service provider Flowline Specialists has recently completed work on a “major” subsea umbilical, riser, and flexible (SURF) lay project in the Middle East. Flowline Specialists FZE said on Monday that the company was contrac
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The Oil and Gas Climate Initiative (OGCI) has announced its first three investments, moving forward the organization’s commitments into concrete action to spur the growth of promising low carbon technologies. Launched in 2014, OGCI is currently made up of ten oil and gas companies that pool expert k
Marine geophysical player Polarcus nearly halved its net loss during the third quarter of the year despite lower revenues. Namely, Polarcus reduced its net loss during the third quarter 2017 to $9.1 million compared to $17.4 million loss in 3Q 2016, the company reported on Friday. The company record
What do upstream oil and gas companies expect to gain from investing in digital initiatives? They expect faster first oil time, and better decision making, a research conducted by Accenture and Microsoft on 300 upstream leaders in 18 countries has shown. According to the results of the study release
Zamil Offshore Services and UTEC, an Acteon company, have formed a strategic partnership to execute offshore survey projects in Saudi Arabia. UTEC said on Tuesday that the partnership brings together its offshore survey experience and Zamil Offshore’s marine and offshore operations experience as wel
The OPEC-Non-OPEC producing countries that last year agreed to a deal to keep the oil production limited to stabilize oil prices are delivering more than promised, the Joint Ministerial Monitoring Committee (JMMC) said on Friday. According to JMMC, for the month of September 2017, OPEC and participa
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Heerema Fabrication Group (HFG) has been awarded a procurement and construction contract for the Noble Energy’s Leviathan vent boom under the Heerema Marine Contractors’ transport and installation contract. To remind, Heerema Marine Contractors was awarded a contract in April for transportation and
Offshore driller Rowan Companies has been awarded several new contracts and extensions for its jack-up rigs while some of its other rigs have recently come off contracts. According to Rowan’s fleet status report on Thursday, the contract for the jack-up rig Rowan Norway with Repsol Sinopec in the UK
