Popular news, June 27 – July 3, 2016
Offshore drilling contractor Rowan Companies has been awarded several contracts extensions for its drilling rigs with a reduced dayrate. The drilling contractor’s drillship Rowan Resolute has been awarded blend and extend amendment with Anadarko in the U.S. Gulf of Mexico. Extension is at a dayrate
By Alex Lawler LONDON (Reuters) – OPEC’s oil output has risen in June to its highest in recent history, a Reuters survey found on Thursday, as Nigeria’s oil industry partially recovers from militant attacks and Iran and Gulf members boost supplies. Higher supply from major Middle East producers exce
By Alex Lawler and Dmitry Zhdannikov LONDON (Reuters) – Oil fell below $50 a barrel on Thursday, pressured by higher Nigerian output and concern about the economic outlook following Britain’s vote to leave the European Union last week. Returning Nigerian supply will put pressure on prices, Goldman S
Qatar Petroleum (QP) has concluded the competitive process which it initiated in 2015 for the further development and operation of its Al-Shaheen offshore oil field, starting July 2017. QP said that the company that presented the best offer to meet QP requirements was Total. The announcement was mar
Lloyd’s Register (LR), an engineering, technical and business services organization, has signed a global frame agreement with The Well Academy to cover a joint provision of training services. According to LR, this agreement will provide a mechanism for the duo to continue working together to deliver
Popular news, June 20 – 26, 2016
Israel’s Delek Group has informed that it has been given until August 1 to provide a final commitment to developing the Hanna block in the Mediterranean Sea, containing the Dolphin natural gas reservoir. The company said on Wednesday that Israel’s Petroleum Commissioner has filed the request in resp
Noble Energy, the operator of the giant Leviathan Gas field in Israel, has been given a nod by its partners to enter into a front-end engineering design contract for work for the offshore production platform for the field. Delek Drilling and Avner Oil Exploration on Wednesday said they have authoriz
Private equity (PE) firms are preparing to deploy capital into the global oil and gas sector with 25% planning acquisitions before the end of the year and 43% by the first half of 2017, according to an EY global survey of 100 PE firms active in the sector. With US$971.4b of PE dry powder from June [
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By Ahmad Ghaddar LONDON (Reuters) – Crude oil prices rose on Friday for the first time in seven days, but trading remains volatile less than a week before Britain goes to the polls over its EU membership. Brent crude futures <LCOc1> were up $1.11 at $48.30 a barrel by 1142 GMT, having dropped 3.6 pe
Iran could award around fifty billion U.S. dollars worth of contracts to offshore oilfield services providers by 2020, in a move to boost production to the pre-sanctions levels. According to estimates by Rystad Energy, a Norwegian energy intelligence group, around $100 billion will be invested in th
The embattled crude oil and natural gas industry worldwide has slashed capital spending to a point below the minimum required levels to replace reserves — replacement of proved reserves in the past constituted about 80 percent of the industry’s spending; however, the industry has slashed its capital
