Maritime service provider Allianz Middle East Ship Management and Scotland-based Maritime Craft Services (MCS) have taken delivery of a Damen Fast Crew Supplier (FCS) 2610. Damen said on Tuesday that the new vessel would be used for crew transfer services for up to 50 passengers to and from the Abu
PARIS (Reuters) – The boss of French oil and gas company Total <TOTF.FA> said on Monday that it would be happy to be the first Western oil company to reach an agreement with Iran, but he said a deal had not yet been signed. “Discussions are going on and we’ll see if we can sign […]
Total said it has signed a heads of agreement with the National Iranian Oil Company for the development of phase 11 of South Pars, the world’s largest gas field.
McDermott International, a provider of engineering, procurement, construction and installation (EPCI) services, has reached 45 million man-hours without a lost time incident (LTI) in the Middle East. McDermott said on Monday that the Quality Health Safety Environment Security (QHSES) milestone was r
Italian oil firm Eni is looking to explore for oil and gas in the Persian Gulf, as Bahrain has invited the company to study and assess the potential of some exploration and production assets in the country. According to Eni, four agreements have been signed between the Bahrain Petroleum Company (Bap
By Henning Gloystein SINGAPORE (Reuters) – Oil prices rose by over 1 percent on Monday, pushed up by a statement from the producers’ club OPEC that it was committed to a deal made in September to cut output in order to prop up the market. Brent crude <LCOc1> was at $46.12 per barrel at 0746 [&hellip
ABU DHABI (Reuters) – The United Arab Emirates (UAE) energy minister Suhail bin Mohammed al-Mazrouei said on Monday the global oil supply glut was almost gone. Addressing the ADIPEC oil conference in Abu Dhabi, he said: “The glut is almost gone … I think we are at the bottom of this cycle…” He added
Deepwater offshore drillers are still fighting strong headwinds as the industry heads into the third year of the downturn, however, those who manage to live through 2017, might see the light at the end of the tunnel. According to Rystad Energy, a Norway-based energy intelligence group, utilization f
Historically, the oil & gas industry has witnessed merger and acquisition (M&A) activity through cycles, as companies try to create value in volatile oil price environments, Douglas-Westwood, an energy intelligence group, said in its DW Monday report. The current downturn has resulted in a number of
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The Oil and Gas Climate Initiative (OGCI), made up of CEOs of ten major oil and gas companies, on Friday announced an investment of $1 billion over the next ten years, to develop and accelerate the commercial deployment of innovative low emissions technologies. The CEO-led organization was designed
The Oil and Gas Climate Initiative (OGCI), designed to catalyze practical action to reduce greenhouse gas emissions, said it will invest US$1 billion over the next ten years to deploy low emissions technologies.
McDermott, a provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments, has opened a new office in Al Khobar, Saudi Arabia. According to the company’s statement on Tuesday, the new office, with the ability to add 300 staff to its e
Qatar Petroleum said on Monday it has established Ocean LNG Limited, an international unit which core business will be marketing of the company’s future LNG supply portfolio sourced outside of Qatar. QP said in a statement that the decision to establish a marketing entity to manage its future LNG su
