Thirty years ago, the film ‘Back to the Future II’ made some amazingly accurate predictions about everyday technology, including video conferencing, biometrics and wearable tech. Around that same time, the US was also experiencing a major oil price collapse, which is an appropriate analogue for toda
Boskalis, a provider of construction and maintenance services for maritime infrastructure, has been awarded a contract from the National Petroleum Construction Company of Abu Dhabi, UAE for dredging work. The work is related to the installation of an offshore gas pipeline of the Abu Dhabi National O
By Libby George LONDON (Reuters) – Brent crude hit a three-month high on Monday, extending gains that have lifted crude benchmarks by more than a third from this year’s lows on an improving global outlook and stronger sentiment for a market recovery. Front-month Brent crude futures LCOc1 traded as h
Oilfield services provider Baker Hughes announced on Monday that the international offshore rig count in February 2016 was down both sequentially, and year over year. The international rig count includes rigs from Latin America, Europe, Africa, Middle East and Asia Pacific. According to Baker Hughes
Market researcher and energy industry consultancy Douglas-Westwood used its inaugural business breakfast, held in London last week, to present the company’s latest research for the financial sector and energy industry. DW founder John Westwood chaired the proceedings and gave an introductory talk fo
National Iranian Drilling Company (NIDC), a provider of drilling services and a subsidiary of National Iranian Oil Company, is looking to attract $200 million in investment to buy offshore drilling rigs. According to Shana, a news agency, NIDC was in negotiations with domestic and foreign investors
Popular news, Feb 29 – Mar 6, 2016
KS Energy’s subsidiary KS Drilling has secured a contract with Egypt’s Belayim Petroleum for a jack-up drilling rig. KS Energy has also informed it will have to pay a multi-million fine for its other rig, the KS Java Star. According to KS Energy, Belayim Petroleum will use the company’s KS Medstar-1
Middle Eastern natural gas company, Dana Gas, started sales gas production from the Zora Gas Field, offshore UAE, on February 28, 2016. According to Dana Gas, initial project startup was achieved on January 14, 2016 with early gas supplies being intermittent as the gas plant was being fully commissi
By Karolin Schaps LONDON (Reuters) – Oil prices rose on Tuesday after China’s surprise monetary policy easing stoked expectations for higher oil demand from the world’s largest commodities consumer and signs emerged that a global supply glut was starting to deflate. Benchmark Brent crude futures <LC
Saudi Arabia and Russia agreed to freeze production at January levels on February 16 in the first coordinated effort to stabilise prices for 15 years. Expectations of an output cut were rife in the days leading up to the meeting in Doha, with Brent gaining 10.9% on February 12th, Douglas-Westwood, a
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Singapore’s SBI Offshore announced on Thursday that a consortium of six Middle East-Chinese parties have terminated a $24 million worth jack-up drilling rig design and engineering contract it had with SBI. SBI Offshore said that the consortium filed a termination request in view of the downturn in t
Polarcus, a marine geophysical company, has received multiple awards which together extend the fleet backlog by six vessel months. According to the geophysical company, the projects will be carried out by multiple Polarcus vessels and will start in the first and the second quarter of 2016. Commentin
