Popular news, October 5 – 11, 2015
Italy’s Saipem has been boosted by more than 600 million euros worth of offshore engineering and construction contracts, awarded by Saudi Aramco and Eni, respectively. Converted to U.S. dollars, the contracts are worth $680 million. The company said that an EPCI contract awarded by Saudi Aramco, inv
Crude futures rose in early Asian trade, with U.S. oil climbing above $50 a barrel, after an influential forecaster predicted that a market rally was not far off and U.S. Federal Reserve minutes suggested there was no hurry to raise rates.
McDermott International, Inc. on Thursday announced it has been awarded a sizeable brownfield project by Qatar Petroleum for the engineering, procurement, construction and installation (EPCI) of four wellhead jackets. According to McDermott , installation of two jackets in the Bul-Hanine field offsh
MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five 48m anchor handling tug supply (AHTS) vessels, each with a 75-tonne bollard pull and one 40m AHTS vessel with a 70-tonne bollard pull. Acco
Baker Hughes published on Wednesday its monthly rig count report according to which the international offshore rig count for September 2015 was 268, down 2 from the 270 counted in August 2015, and down 65 from the 333 counted in September 2014. According to Baker Hughes, the international rig count
LONDON (Reuters) – Oil markets are beginning to recover but the scale of global oversupply means prices may rise only slowly, the chief executive of Royal Dutch Shell Plc <RDSa.L> said on Tuesday. “I see the first mixed signs for recovery of oil prices,” Ben van Beurden told an oil industry conferen
Oil prices have stabilised in the $45-50 range over the last month, however, performances of major oilfield stocks have continued to suffer, Douglas-Westwood, an energy intelligence group wrote in its DW Monday report. According to analysis undertaken by DW, a decline of a further 8% has been seen t
By Christopher Johnson LONDON (Reuters) – Oil rose on Monday after Russia said it was ready to meet other producers to discuss the market, where prices have more than halved from last year’s highs due to a supply glut. A report showing a fifth weekly fall in the number of oil rigs drilling in the [&
Renaissance Services has entered into an agreement to divest Topaz Engineering Limited (TEL) and its subsidiaries which provide marine engineering and shipbuilding services in the Middle East. Chalmers Holdings Limited has acquired the business for US$ 18.5 million. A spokesman for Renaissance Servi
Popular news Sep. 28 – Oct. 4, 2015
Geopolitical tensions seriously affect the oil & gas and offshore industry. Russia, Iran and Sudan are just a few recent examples. Yet, developments in E&P in challenging jurisdictions continue. As part of the upcoming Offshore Energy Exhibition and Conference in Amsterdam, the Technical Session: Ri
By Steven Scheer JERUSALEM (Reuters) – When the Leviathan gas field was discovered off the coast of Israel in 2010, it was pitched as a game-changer — a vast energy reserve that would transform the economy and bolster public finances for years to come. Five years on, poor policymaking, political inf
Amec Foster Wheeler, a multinational consultancy, engineering and project management company headquartered in London, announced Wednesday that it was expanding its UAE operations in response to recent contract awards and growing opportunities in the Middle East. The company said the Middle East mark
