After a challenging 2020, oil and gas demand recovery – supported by vaccinations and OPEC+ cuts – is proving good for drilling activity, Rystad said.
Saipem has received from Qatargas a letter of award worth over $1 billion related to the North Field Production Sustainability Pipelines Project.
Vaccination hiccups could prevent the recovery of up to 1 million bpd of oil demand in 2021, Norwegian energy intelligence company Rystad Energy has said.
Based on today’s policy settings, global oil demand is set to rise every year through 2026 but stronger policies and behaviour changes could bring a peak in demand soon, an IEA report says.
Oilfield services provider Petrofac has been suspended by UEA’s oil and gas giant ADNOC from competing for new contract awards until further notice.
Noble Corporation has won several new contracts for its fleet of drilling rigs, which will see three of its units come back from the warm-stack mode.
Cairn Energy has made two deals, one for the sale of its interests in two UK fields and the other for the purchase of Shell’s assets in Egypt.
Innovative Energy has made an all-cash $12.5 per share offer to take UAE-based oil & gas drilling and production services provider ADES International into Saudi hands.
OPEC and allies on Thursday decided to extend oil production cuts into April 2021, while offering small exemptions to Russia and Kazakhstan.
Offshore project commitments are set to reach a new record in the five-year period towards 2025, a Rystad Energy report says.
The Crown Prince of the Emirate of Abu Dhabi and the de facto ruler of Abu Dhabi Mohamed bin Zayed bin Sultan Al Nahyan, better known under his initials MBZ, has been named the chairman of the board of directors of state oil firm Abu Dhabi National Oil Company (ADNOC).
ADNOC Logistics & Services has made a move to acquire all of the UAE-based assets of Speedy Hire, a UK provider of tools and equipment.
ADNOC Logistics & Services, the shipping and maritime logistics arm of ADNOC, is expanding its fleet with the acquisition of six VLCCs.
While the oil price collapse is still fresh in our minds, rumours are starting to emerge that by the end of next year prices could once again top $100 a barrel.
