Offshore drilling contractor Noble Corporation has received an early contract termination for a jack-up drilling rig and a new contract for a drillship unit. Namely, Noble informed in its latest fleet status report on Tuesday that the Australian oil company Quadrant Energy exercised its right to ear
Gulf Marine Services (GMS),a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil and gas industry, got an early contract termination for one of its vessels. The company reported on Tuesday that a notice of early termination has been received for a Mid-Size Clas
By Rania El Gamal and Alex Lawler DUBAI/LONDON (Reuters) – OPEC will probably revive talks on freezing oil output levels when it meets non-OPEC nations next month as top exporter Saudi Arabia appears to want higher prices, according to OPEC sources, although Iran, Iraq and Russia present obstacles t
Malaysian company Daya Materials Berhad has won a contract in Saudi Arabia with the world’s largest oilfield services provider, Schlumberger. The company said on Monday that the deal was for the provision of specialized well services with a duration of three years. Daya added that the contract was s
Popular news, August 8 – 14, 2016
Danish oil company Maersk Oil saw its second quarter 2016 net operating profit drop to $131 million, from $137 million achieved in the same period of 2015. Underlying profit was $130 million, down from $217 a year ago. However, Maersk Oil has described its result as “the return to profit in Q2”, com
By Henning Gloystein SINGAPORE (Reuters) – Oil prices edged up on Friday, remaining near the previous day’s highs, on the prospect of talks by exporters about ways to prop up a market grappling with a supply overhang. Brent crude futures were trading at $46.12 per barrel by 0645 GMT, receding from a
Crude oil prices eased to around $45 per barrel in August as a global supply overhang weighed and demand growth weakened, the International Energy Agency (IEA) said in its newly released IEA Oil Market Report (OMR) for August. Brent crude had threatened to break below $40 per barrel at the end of Ju
By Alex Lawler LONDON (Reuters) – Oil fell below $45 a barrel on Tuesday after rallying to a two-week high the previous day, as concern about a supply glut outweighed hopes of producer action to prop up prices. In the latest sign of ample supplies, market intelligence firm Genscape reported a rise o
Popular news, August 1 – 7, 2016
Oilfield services provider Baker Hughes reported on Friday that the international offshore rig count for July 2016 was up sequentially and down year over year. The international offshore rig count for July 2016 was 226, up 3 from the 223 counted in June 2016, and down 38 from the 264 counted in July
By Henning Gloystein SINGAPORE (Reuters) – Oil prices fell by 1 percent on Friday as a crude and refined product glut weighed on markets and investors eyed a possible stutter in China’s imports, ending a two-day short-covering rally. U.S. West Texas Intermediate (WTI) crude futures were trading at $
Gulf Marine Services (GMS), a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil industry, has won a new contract and a contract extension for two of its vessels. The new contract is for one of GMS’ mid-size class vessels. It is scheduled to start immediately,
By Alex Lawler LONDON (Reuters) – Oil edged higher to $42 a barrel on Wednesday after hitting its lowest since April the previous day, supported by an industry report showing a fall in U.S. inventories and a weaker dollar. But prices could struggle to make much headway, analysts said, as sentiment r
