PARIS (Reuters) – The boss of French oil and gas company Total <TOTF.FA> said on Monday that it would be happy to be the first Western oil company to reach an agreement with Iran, but he said a deal had not yet been signed. “Discussions are going on and we’ll see if we can sign […]
McDermott International, a provider of engineering, procurement, construction and installation (EPCI) services, has reached 45 million man-hours without a lost time incident (LTI) in the Middle East. McDermott said on Monday that the Quality Health Safety Environment Security (QHSES) milestone was r
Oilfield services provider Baker Hughes informed on Monday that the international offshore rig count in October 2016 was down by 70 units when compared to the same period in 2015. Namely, according to the report, the international offshore rig count for October 2016 was 200, down 21 from the 221 cou
Italian oil firm Eni is looking to explore for oil and gas in the Persian Gulf, as Bahrain has invited the company to study and assess the potential of some exploration and production assets in the country. According to Eni, four agreements have been signed between the Bahrain Petroleum Company (Bap
By Henning Gloystein SINGAPORE (Reuters) – Oil prices rose by over 1 percent on Monday, pushed up by a statement from the producers’ club OPEC that it was committed to a deal made in September to cut output in order to prop up the market. Brent crude <LCOc1> was at $46.12 per barrel at 0746 [&hellip
ABU DHABI (Reuters) – The United Arab Emirates (UAE) energy minister Suhail bin Mohammed al-Mazrouei said on Monday the global oil supply glut was almost gone. Addressing the ADIPEC oil conference in Abu Dhabi, he said: “The glut is almost gone … I think we are at the bottom of this cycle…” He added
Deepwater offshore drillers are still fighting strong headwinds as the industry heads into the third year of the downturn, however, those who manage to live through 2017, might see the light at the end of the tunnel. According to Rystad Energy, a Norway-based energy intelligence group, utilization f
Historically, the oil & gas industry has witnessed merger and acquisition (M&A) activity through cycles, as companies try to create value in volatile oil price environments, Douglas-Westwood, an energy intelligence group, said in its DW Monday report. The current downturn has resulted in a number of
Atwood Oceanics, an offshore drilling contractor, has mobilized its ultra-deepwater drillship Atwood Advantage to Israel and began drilling on the Tamar gas field for Noble Energy. The Atwood Advantage left the Gulf of Mexico on September 17 and began its operations in Israel on October 21. The dril
DNO, a Norwegian oil and gas operator focused on the Middle East and North Africa, has awarded a two-year upstream services contract to SGS, an inspection, verification, testing and certification company. As a result, SGS will provide a range of electric line and slickline services for DNO’s offshor
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The Oil and Gas Climate Initiative (OGCI), made up of CEOs of ten major oil and gas companies, on Friday announced an investment of $1 billion over the next ten years, to develop and accelerate the commercial deployment of innovative low emissions technologies. The CEO-led organization was designed
Offshore rig builder Lamprell has completed the construction of a jack-up drilling rig for the offshore driller Ensco. Not too long ago, when oil prices were over a $100 a barrel, this would mean the rig would go on a long term contract with an oil company straight out of the yard. However, this is
McDermott, a provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments, has opened a new office in Al Khobar, Saudi Arabia. According to the company’s statement on Tuesday, the new office, with the ability to add 300 staff to its e
