Read the most popular offshore energy news of the week
The global oil and gas exploration spending, which has been trimmed since the oil prices went down in 2014, will further fall in 2017. It might start rising in the next few years, but not to the pre-slump levels, a graph released by Wood Mackenzie shows. Also, on the oil prices, the energy intellige
The persistent oil price volatility is not a cyclical change, but rather a structural one. This is according to a survey conducted by Sea Asia 2017, where more than two-thirds of respondents said it wasn’t a cycle. The results of the survey come at a time when the maritime industry faces its toughes
DUBAI (Reuters) – Royal Dutch Shell <RDSa.L> will sign initial agreements on Wednesday to develop Iranian oil and gas fields, an Iranian official said, the first deal by the world’s second biggest listed oil firm in Iran since sanctions were lifted. Analysts said the deals showed major oil companies
The international offshore rig count for November 2016 was up sequentially but down year over year. According to a report on Wednesday by the oilfield services provider Baker Hughes, the international offshore rig count for November 2016 was 211, up 11 from the 200 counted in October 2016, and down
The Petroleum Council of Israel has given its approval of the acquisition of 100% of the Karish and Tanin natural gas fields by Energean Oil & Gas from Delek Drilling and Avner. The agreement for the sale of these two fields between the field partners and Energean was inked in August this year. The
Two non-executive Directors have stepped down from the Board of Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil and gas industry. GMS said on Tuesday that two departing members of the board are independent non-executive Directo
Read the most popular news from the offshore energy sector.
By Roslan Khasawneh SINGAPORE (Reuters) – Oil prices fell on Friday on concerns whether major producers would implement an OPEC-Russia deal to cut production and as investors took profits after Brent touched a 16-month high a day earlier on news of the deal. “It looks achievable on the face of it, p
U.S. oil and gas firm Noble Energy has managed to find another buyer for the Leviathan field gas. According to Delek, Noble’s partner in the project located in the Mediterranean Sea offshore Israel, the Leviathan partners have signed a deal to sell gas from the Leviathan to Or Power Energies (Dalia)
Saudi king Salman bin Abdulaziz Al Saud has this week laid the cornerstone of the giant, multi-billion maritime complex, near Jubail in the Eastern Province of Saudi Arabia. The complex is a commercial maritime project said to be the largest of its kind in the region in terms of service capacity, “s
Oil prices shot up 13 percent, smashing trading volume records, after OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned they could remain modest by historical comparison as other producers fill the gap.
The decommissioning of aging offshore oil and gas platforms, subsea wells and related assets is increasing dramatically, with more than 600 projects expected to be disposed of during the next five years alone. This will cause spending to rise significantly, according to a new study by IHS Markit an
By Ahmad Ghaddar, Alex Lawler and Rania El Gamal VIENNA (Reuters) – OPEC has agreed its first limit on oil output since 2008, an OPEC source told Reuters after Saudi Arabia said it was prepared to accept “a big hit” on production and agree to arch-rival Iran freezing output at pre-sanctions levels.
