Global oil demand growth is expected to slow to 1.2 million barrels per day (mb/d) in 2016, from an average 1.4 mb/d this year, the International Energy Agency said in its Oil Market Report for July. It also said that strong consumption is anticipated in non-OECD Asia. According to the IEA, world oi
Baker Hughes Incorporated issued Wednesday its monthly international rig count report, according to which the international offshore rig count is down 7 from May. According to Baker Hughes report, the international rig count for June 2015 was 1,146, down 12 from the 1,158 counted in May 2015, and do
Oil bounced back from a three-month low to around $57 (37 pounds) a barrel on Wednesday after an industry report showed a larger-than-forecast drop in U.S. crude stocks and Iran nuclear talks failed to produce a deal.
Singapore’s EMAS AMC, together with India’s Larsen & Toubro Hydrocarbon Engineering (LTHE), has secured a six year long term agreement with Saudi Arabian oil company, Saudi Aramco. Under the agreement, Larsen & Toubro and EMAS AMC, a subsidiary of Ezra Holdings, will execute offshore projects with S
McDermott International, Inc. has been selected by Saudi Aramco as one of the winners of a global competition for a new Long Term Agreement (LTA) for future brownfield work in various fields in offshore Saudi Arabia. The LTA, which was signed on June 10, 2015, at Saudi Aramco headquarters in Saudi A
Qatari offshore services contractor Gulf International Services has informed that there has been an incident at the Maersk Oil-operated Al Shaheen field, offshore Qatar. According to a statement by Gulf International Services, the company’s jack-up accommodation unit “Rumailah”, owned by its subsidi
Inchcape Shipping Services (ISS), the a marine, cargo and supply chain solutions provider and Technip, an international oilfield services provider have signed a contract to provide marine agency services and logistics for the Rashid C project in the Middle East. Currently under offshore execution by
Gulf Marine Services, a provider of self-propelled self-elevating support vessels (SESV) serving the offshore oil, gas and renewable energy sectors, has secured a decommissioning contract for one of its Large Class vessels in Europe, which is a new activity for the Group. The company said that the v
Popular news, June 29 – July 5, 2015
Amec Foster Wheeler has appointed Garry Dryburgh as President, Middle East and Africa, effective August 9, 2015. Dryburgh will be based out of Abu Dhabi and will report to Roberto Penno, Group President for Asia, Middle East, Africa & Southern Europe region. The company said he will continue to be l
Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years
PGS has been selected by Egyptian Natural Gas Holding Company (EGAS) to supply services related to what the two companies dubbed as the largest seismic oil and gas exploration project in the Mediterranean. The MultiClient Agreement covering Egypt’s Western Mediterranean Sea was signed Wednesday, Jun
Xodus Group has been awarded a contract for the vibration assessment and analysis on the oil train piping and structures for Zakum Development Company (ZADCO) at Zirku Island, 140km north-west of Abu Dhabi. The work, valued at over $600,000, will pull in services from Xodus’ process, piping, instrum
Saudi Aramco has reported achieving a landmark by energizing its largest Tie-in Platform with a 230 kilovolt 46 km submarine composite cable. The Tie-in Platform, named ‘TP-20’ lies in on of the the world’s largest offshore fields, Safaniya in the Persian Gulf, offshore Saudi Arabia, and energizing
