News
Eni spuds Barents Sea exploration well
Italian oil company Eni has started drilling the Boné exploration well in the Barents Sea offshore Norway. According to Faroe Petroleum, a partner in the project the primary targets for the well are the Jurassic Stø- and Nordmela sandstones with a secondary target within the Triassic Fruholmen and S
Ophir says Fortuna FLNG on schedule for FID in H1 2017
London-based Ophir Energy on Thursday said its Fortuna FLNG project in Equatorial Guinea is “firmly on schedule” for a final investment decision in the first half of this year. Ophir and its partner, OneLNG, a joint venture between Golar LNG and Schlumberger, are “making good progress against all ke
OMV set to resume Maari output
Oil company OMV is set to progressively resume production from the Maari oil field offshore New Zealand following repairs at a wellhead platform. The Maari field is located 80km off the Taranaki coast in water depths of about 100m. It is operated by OMV New Zealand (69%) on behalf of the Maari JV wh
EIA: cheaper natural gas drives down electricity wholesale price
Average wholesale electricity prices at major trading hubs across the United States during 2016 were pushed down due to the low cost of natural gas.
Watch live: Former Exxon CEO at Senate’s confirmation hearing
The U.S. President-elect Donald Trump in December 2016 elected ExxonMobil CEO Tillerson as his choice for secretary of state. Tillerson then announced his resignation from Exxon after 40 years with the company. Engineer by training, Tillerson, who had acted as chairman and chief executive officer of
Petrobras boasts with new annual oil production record
Brazilian oil giant Petrobras has reported that its average oil production in Brazil reached an annual historical record in 2016. Namely, the company’s oil production in 2016 reached 2.144.256 barrels per day (bpd), 0.75% above the results for the prior year and in line with the 2,145 thousand bpd t
Centrica swings job axe in Aberdeen
UK energy company Centrica has reduced its Aberdeen exploration and production division workforce by 25 employees. The company’s spokesman told Offshore Energy Today on Wednesday that the reduction of the Aberdeen team meant it the now employs just over 310 people. “After a full consultation with ou
Report: Energean picks floating solution for Tanin, Karish fields
Greek oil company Energean has reportedly decided to use a floating production solution for its Tanin and Karish fields, offshore Israel. To remind, Energean bought the Karish and Tanin natural gas fields in the Mediterranean Sea in December 2016. According to Bizportal, an Israeli business news web
Chevron hires two anchor handlers in Brazil
Oil company Chevron has hired two offshore support vessels from Brazil’s Bram Offshore. The two vessels, the Campos Contender and Elizabeth C, are both large 11.040 BHP anchor handling tug supply units. The vessel owner is a Brazilian subsidiary of Edison Chouest, a U.S. based offshore vessel provid
IHS Markit: Total’s block off Cyprus to compete with Eni’s Zohr discovery?
Driven by the success of Eni’s major Zohr field gas discovery offshore Egypt in 2015, companies are rethinking the Eastern Mediterranean region’s gas potential, according to a new analysis from IHS Markit, an information and analytics group. Total’s announcement that it will drill a 2017 exploration
Petronet LNG to up Kochi terminal’s utilization capacity to 40 pct by 2019
India’s largest importer of liquefied natural gas, Petronet LNG, intends to run its Kochi terminal at 40 percent capacity by 2019.
Trinity completes restructuring
Trinity Exploration & Production has completed the restructuring of the company. The oil company with assets and Trinidad and Tobago has been trying to resolve its financial issues for months, and it on Wednesday said that the restructuring “is now completed.” It said the restructuring would enable
Malta in LNG first
Malta has received its first ever cargo of liquefied natural gas (LNG) on Wednesday at the Delimara terminal and power station. The Shell-managed 136,600-cbm LNG carrier Galea docked beside the floating storage unit (FSU) Armada LNG Mediterrana in the Marsaxlokk Bay. The FSU is moored at the Delimar
Oil prices rise as details of Saudi supply cuts start to emerge
By Henning Gloystein SINGAPORE (Reuters) – Oil rose on Wednesday, lifted by reports of Saudi supply cuts to Asia, but gains were capped by a lack of detail about the reductions and because of signs of rising supplies from other producers. Prices for Brent futures, the international benchmark for oil