Singapore’s Vallianz has secured a time charter contract for two of its Anchor Handling Tug, Supply and Safety Standby vessels. The contract is valued at up to $63 million, and has been signed with an undisclosed national oil company (NOC) in the Middle East. In a statement issued on Monday, Vallian
Saudi Arabia, the world’s largest crude oil exporter, on Saturday appointed Khalid al-Falih, chairman of the state oil giant Saudi Aramco, as its new energy minister, replacing Ali al-Naimi, who had held the post since 1995.
The end of March saw a resolution reached between Kuwait and Saudi Arabia for the resumption of production from the Khafji field – located in the Arabian Gulf, Douglas Westwood writes in its Monday report. The project was shut-in by the Saudis in October 2014 due to environmental regulation breaches
Houston-based oil and gas company Noble Energy has received a certificate of compliance to the SEMS (Safety and Environmental Systems) standard from DNV GL’s Business Assurance USA for Noble’s offshore drilling operations in Israel. The compliance certification which sets criteria for safe operation
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Oilfield services provider Baker Hughes reported on Friday that the international offshore rig count in April 2016 was up sequentially, but down year over year. According to Baker Hughes’ report, the international rig count for April 2016 was 946, down 39 from the 985 counted in March 2016, and down
By Henning Gloystein SINGAPORE (Reuters) – Oil prices dipped on Friday, dragged down by a surging dollar that at least temporarily outweighed supply disruptions in North America, where a massive wildfire was threatening Canada’s huge oil sands operations. The dollar firmed against the euro and yen o
McDermott International has been awarded three separate projects by a ‘major national oil company’ for the integrated engineering, procurement, construction, and installation (EPCI) services in multiple fields in the Arabian Gulf. In addition to this, there has also been an award of an additional sc
Iran is cooperating with South Korea on the development of the Middle Eastern country’s offshore resources. According to National Iranian Oil Company (NIOC), an agreement was reached on Monday, with South Korean energy company Kogas, over the development of one of Iran’s ‘key gas fields in the Persi
Lamprell, a provider of fabrication, engineering and contracting services to the energy industry, has not been able to find the right candidate for the role of its new CEO following its current CEO decision to retire, and will therefore extend the CEO’s as well as Executive Chairman’s stay. In addit
Oil prices fell on Monday as rising production in the Middle East outweighed a decline in U.S. output and a recent slide in the dollar, which has been supporting crude.
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By Apeksha Nair and Arpan Varghese (Reuters) – Analysts are growing increasingly confident that a near-two-year rout in oil has ended, and raised their price forecasts for a second month running, as healthier demand and a drop in U.S. shale output balance the market by 2017. The inability of OPEC an
The global oil market could face a supply shortfall of 4.5 million b/d by 2035, if exploration success doesn’t improve, a new study by Wood Mackenzie warns. Wood Mackenzie says discoveries in recent years have been disappointing, with the volume of liquids discovered per year more than halving over
