By Henning Gloystein SINGAPORE (Reuters) – Oil rose on Wednesday, lifted by reports of Saudi supply cuts to Asia, but gains were capped by a lack of detail about the reductions and because of signs of rising supplies from other producers. Prices for Brent futures, the international benchmark for oil
A pipeline carrying gas from Iran’s South Pars offshore field has reportedly been damaged. The pipeline is a part of South Pars Phases 15 and 16. Iranian news agency Mehr has cited the project manager Reza Forouzesh who said that gas leaks have been taken under control. The wording does not make it
Pacific Radiance, a provider of integrated offshore marine support services, has recently inked multi-year contracts worth up to $68 million, including options, in the Middle East. The company said on Tuesday that, under the multi-year contracts with independent and national oil companies, five of t
The international offshore rig count for December 2016 was down both sequentially and year over year. According to reports on Monday by the oilfield services provider Baker Hughes, the international offshore rig count for December 2016 was 210, down 1 from the 211 counted in November 2016, and down
Popular news, January 2 – 8, 2017.
With 2016 behind us, energy intelligence groups have begun dishing out their takes on the energy sector for 2017. One of them, S&P Global Platts, an independent provider of information and benchmark prices for the commodities and energy markets, has shared its view on what to watch this year when it
Oil prices edged higher on Friday as output cuts by OPEC members met with lingering concern that other producers could try to shirk their share of planned decreases aimed at curbing global oversupply.
Lebanese government has approved two offshore oil and gas decrees, which means the country’s offshore licensing round, stalled since 2013, can now begin. The decrees, passed by the Lebanese cabinet on Wednesday, lay out conditions related to the licensing round and the exploration and production mod
Australian engineering company WorleyParsons has been awarded the renewal of the general engineering services plus (GES+) contract with Saudi Aramco for an additional five years. The engineering company said on Thursday that the contract also has further potential for up to three additional one year
Oil and gas engineering services business Plexus Holdings has received an order for a second well offshore Oman from Masirah Oil. Masirah is a company majority owned by a technology-driven oil and gas company, REX International. Plexus said on Thursday that the new contract would see the company sup
McDermott has been awarded a contract from Saudi Aramco for the engineering, procurement, construction and installation (EPCI) of four jackets and three gas observation platforms offshore Saudi Arabia. The American EPCI company said on Wednesday that the total weight of all structures combined is 11
Pars Oil and Gas Company (POGC) has installed the last platform in Phases 17 & 18 of the South Pars gas project, located between Iran and Qatar in the Persian Gulf. POGC’s South Pars 17 & 18 project manager said last Wednesday that the installment of the 17B platform was completed at the reservoir b
Oil prices hit 18-month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and other big oil exporters to cut production, which kicked in on Sunday, will drain a global supply glut.
Larsen & Toubro, in consortium with Emas Chiyoda Subsea, has won two engineering, procurement, construction and onstallation (EPCI) contracts from Saudi Arabian oil giant Saudi Aramco. LTHE, a fully owned subsidiary of Larsen & Toubro, said on Monday that the first deal entails the supply and instal
