Maersk Supply Service has sold two more vessels, the Maersk Seeker and the Maersk Supplier, as part of the company’s recently announced divestment plan.
Stone Energy Corp filed for Chapter 11 bankruptcy on Wednesday to eliminate about $1.2 billion in debt by transferring control of the offshore oil producer to its noteholders in the face of a two-year slump in energy prices.
Azerbaijani oil officials say one worker has been killed and nine others are missing after part of their offshore oil installation broke off in strong winds.
Nigerian President Muhammadu Buhari is eyeing an increase to his country’s oil production to 2.2 million bpd, the volume it had pumped before militant attacks in the Niger Delta started crippling the country’s output and exports in early 2016.
Libya is preparing this week to reopen two of its biggest oil fields and ship the first cargo from its largest export terminal in two years, as the war-torn OPEC state pursues plans to almost double crude output in 2017.
An investigation has been launched by Total after an electrical fire broke out on it's North Alwyn Installation at around 22:10 on Friday the 9th of December. The fire which was described by Total as a "small electrical fire" broke out in a control cabinet in an electrical equipment cupboard on the North Sea Installation.
A pipeline in North Dakota spilled over 176,000 gallons of oil before it was shut down, state officials say. The spill happened 150 miles from the Dakota Access pipeline protests, with thousands of people rallying against the construction for months.
China National Petroleum Company plans to cut staff at its Beijing headquarters by 20 percent, the company said in a post on its social media blog on Tuesday, the latest move in an efficiency drive by the country's top state energy group.
OSHA is investigating the Monday morning explosion at an oil-drilling site near Sharon Springs that left five injured, two critically. Fire officials say crews were adding pipe on a rig for the Murfin Drilling Company when the explosion happened.
EnerMech has been awarded its first contract by Subsea 7 in the Australian oil and gas market. The mechanical engineering group will perform a range of subsea flowline and umbilical pre-commissioning on the Woodside-operated North West Shelf (NWS) Project’s Persephone project and North Rankin Complex in Western Australia.
A sea search is ongoing off the coast of Aberdeen after the Coastguard received a man overboard distress from a Personal Locator Beacon at around 4:10pm yesterday.
Operators in the U.S. added 27 rigs this week, according to the latest data from Baker Hughes. The number of rigs seeking oil rose 21 to 498, the highest level since January.
ONE of Scotland’s leading oil industry figures has attacked decommissioning plans by Shell that could see the giant legs of three offshore oil platforms left in the North Sea.
Saudi Arabia has told its U.S. and European customers it will reduce oil deliveries from January, as Russia said it was confident non-OPEC producers would fully join OPEC's output limits on Saturday in the first such move since 2001.
Italian energy company Eni will sell a 30 percent stake in its giant Egyptian offshore gas field Zohr to Russia's Rosneft for $1.575 billion, pressing ahead with asset sales to fund investments and offset weak oil prices. Eni, which owns 90 percent of the Shorouk concession containing Zohr, said on Monday that Rosneft would pay $1.125 billion and reimburse around $450 million for investments already carried out by Eni.
The U.S. government is slated to sell $375 million worth of crude oil from the country's emergency reserve this winter after Congress passed a temporary spending bill on Friday that contained a measure authorizing the sale. President Barack Obama's administration has pushed Congress to approve an up to $2 billion plan for a revamp of the Strategic Petroleum Reserve, a string of heavily guarded underground salt caverns along the Gulf of Mexico filled with crude. The stash currently holds about 695 million barrels of oil.
OPEC’s agreement to cut production for the first time in eight years has the potential to balance the oil market, as long as everyone sticks to it, former Saudi Arabia Oil Minister Ali al-Naimi said. "The only tool they have is to constrain production," al-Naimi said of OPEC at an event in Washington, D.C. "The unfortunate part is we tend to cheat."
International oil & gas service provider, Petrofac, is set to build on its provision of integrated support services on the Cygnus gas field following the award of a four and a half-year contract extension.
Drilling has begun on a North Sea oil field that will eventually support about 700 jobs. The first oil is expected to be produced from the Mariner field in 2018, Statoil said.
Global oil and gas update has learned from sources offshore that the Shearwater Platform operated by Shell in the Central North Sea has been shutdown overnight after a reported well incident. Shell would not confirm details of the incident but released the following statement to global oil and gas update...
India plans to invest US$20 billion in deepwater natural gas development in the next five to seven years, the country’s Oil Minister Dharmendra Pradhan said this week, according to news reports. The multi-billion investment is expecting to target 20 Tcf of reserves, and will primarily go to developing natural gas discoveries by India’s own ONGC and the Reliance Industries and BP-led joint venture off the east coast, Pradhan said in New Delh on 30 November.
Bibby Offshore, a leading subsea services provider to the oil and gas industry, announced that it has secured a significant contract with Shell. The campaign, due to commence in Q1 2017, will see Bibby Offshore provide engineering and subsea construction activities in the Gannet G field in the Central North Sea.
One of 14 sailors stranded in Scotland because they have not been paid in four months has spoken out about the ordeal. Indian shipping giant GOL Offshore reportedly owes the crew of the Malaviya Seven about £80,000.
Norway expects Royal Dutch Shell Plc to go forward with a shelved project to boost recovery of natural gas at the Ormen Lange field, and warned it will start pushing the company for progress from next year. “A clear message to Shell is that we expect that it seizes the opportunities that exist at Ormen Lange and comes to a decision to take this forward,” Bente Nyland, the head of the Norwegian Petroleum Directorate, said in an interview in Oslo on Wednesday. “There are a lot of resources at Ormen and we have to get them out.”
Chevron has joined forces with Petroleos Mexicanos and Japan’s Inpex Corp. to bid next week for the right to explore for oil and natural gas, the first time the state-owned operator will partner with private companies to develop crude in the Gulf of Mexico. Seven groups and eight individual bidders have been qualified to participate in the Dec. 5 auctions that include the Trion field joint-venture with Pemex and 10 other deepwater blocks, Mexico’s National Hydrocarbons Commission announced in Mexico City on Monday. The regulator didn’t specify which bids were for the joint venture or for the other areas.