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DW: OPEC faces a ‘huge challenge’ after output reduction deal
OPEC’s surprise announcement last Wednesday of a preliminary output reduction agreement seemed to be the development the oil & gas sector had been waiting for, Douglas-Westwood, an energy intelligence group, has said in its latest DW Monday report. By the middle of Thursday afternoon GMT, stock pric
PGS Vessel Activity Slides
Norwegian seismic player, Petroleum Geo-Services (PGS) has seen a vessel-activity drop in the third quarter of 2016, the company informed on Monday. In the Q3 the vessel utilization on the contracted basis was 33 percent compared to 35 percent in the corresponding period in 2015. On the multi-client
ExxonMobil’s vice president to retire
U.S.-based energy giant ExxonMobil on Friday said its vice president and general counsel, Jack Balagia informed the company of his intention to retire on November 1, following over 18 years of service.
Norway: Gassco completes maintenance
Norway’s gas infrastructure operator Gassco on Wednesday said that an extensive program for maintaining facilities on the Norwegian continental shelf has been completed. “This year’s maintenance operations involved a number of demanding activities,” said Kristin Kinn Kaste, senior vice president for
Statoil’s Stausholm resigns from BoD
Norway’s Statoil on Monday said that Jakob Stausholm will resign from the position as a member of the company’s board.
Bowleven collects $15M on account of Etinde farm-out deal
Bowleven, the Africa focused oil and gas exploration group, has received the $15 million cash proceeds payable under the Etinde farm-out transaction with Lukoil and NewAge. The Etinde Permit lies in a shallow water offshore Cameroon, adjacent to the coast. Bowleven said on Monday that, as at Septemb
Australian duo to exit Gippsland permit
A pair of Australian oil and gas exploration companies are looking to abandon their joint interest in a license located in the Gippsland Basin, offshore Australia. On Monday, Bass Strait Oil Company Limited informed it made plans, together with Oil Basins Limited, to apply to the National Offshore P
Banks okay Solstad’s financing plan
Norwegian shipping company Solstad Offshore informed on Friday that its financing plan has been approved by the company’s banks and bondholders. The company also said that sale-and-leaseback agreement for the vessel Normand Maximus has been entered into, all on terms satisfactory to Aker Capital. Ba
Popular news, Sep 26 – Oct 2, 2016
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Top News of the Week, 26 Sep – 2 Oct 2016
South Korea Becomes Offshore Wind Energy Producer South Korea received first electricity generated by an offshore wind farm on Thursday, September 29, 2016. Take a 360° Aerial Tour of an Offshore Wind Farm with Siemens (Video) Siemens has released a video showing a 360° flight to an offshore wind fa
Top news of the week Sep. 26-Oct. 1, 2016
Another Cheniere executive joins Souki at Tellurian Tellurian Investments on Monday said that another former executive of Cheniere Energy, R. Keith Teague, joined the company as executive vice president and chief operating officer. U.S. senators call for slowdown of LNG export approvals A number of
Det norske, BP Norge finalize merger. Create Aker BP
Det norske oljeselskap, a Norwegian oil company, and BP Norge, a Norwegian subsidiary of the British oil firm BP, have completed their previously announced merger. Det norske said on Friday morning that the closing of the transaction was scheduled to take place today, September 30, 2016. On Friday a
Louisiana to build deepwater rig repair and refurbishment facility
Offshore drillers doing business in the U.S. Gulf of Mexico might soon – well, soonish – have a ‘nearby’ deepwater port where they will be able to have their drilling rigs repaired and spruced up at a lower cost. Namely, Louisiana’s Greater Lafourche Port Commission (GLPC) is pressing ahead with dev
Report: Petronas considering sale of PNW LNG stake
Malaysian giant Petronas is reportedly contemplating a sale of a majority stake in the Pacific NorthWest LNG project that has recently been awarded the clearance by the Canadian Federal government.