Industry News

McDermott awarded substantial offshore EPCI contract in the Middle East

McDermott International, Inc. has announced a substantial* contract award from a Middle East customer for engineering, procurement, construction and installation (EPCI) services in the Arabian Gulf.

Trump has a plan to preserve benefits for oil drillers in future

A top Interior Department official told oil industry leaders the Trump administration is seeking to sign contracts leasing new coastal waters for oil drilling under favorable terms that will be difficult for future presidents to revoke or rewrite.

Wintershall produces record 171 MMboe

Wintershall is looking back in 2019 not only on 125 years of company history, but also on a successful past business year.

Venezuelan crude shipments dead in the water on U.S. sanctions

Venezuela’s exports to the U.S. hit zero last week after American sanctions on PDVSA.

BSEE: Key to energy security lay within offshore safety performance, environmentally sustainable energy production

Bureau of Safety and Environmental Enforcement (BSEE) Director Scott Angelle emphasized BSEE’s commitment to safe and environmentally sustainable energy production during meetings in Louisiana with the Greater Lafourche Port Commission, the Louisiana Mid-Continent Oil and Gas Association and BSEE Gulf of Mexico Region staff.

Drilling halted on 300,000 acres in Wyoming

The Trump administration’s pro-drilling policy took a blow when a federal judge ordered a halt to oil and gas exploration on more than 300,000 acres in Wyoming, saying the government must account for its cumulative effect on global climate change.

Equinor awards Johan Sverdrup contract for subsea production system

On behalf of the Johan Sverdrup license, Equinor is awarding a contract for constructing and installing the subsea production system for project phase 2 to TechnipFMC.

ADNOC awards Japan's INPEX onshore exploration concession in block bid round

The Abu Dhabi National Oil Company (ADNOC) signed an agreement, awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s INPEX Corporation. A wholly-owned INPEX subsidiary, JODCO Exploration Limited, will hold and manage the interest in the concession on behalf of INPEX.

Jumbo wins offshore subsea decommissioning project in the North Sea

Jumbo wins offshore subsea decommissioning project in the North SeaJumbo has been awarded an offshore decommissioning project in the North Sea by TAQA Energy BV, involving the removal, transportation and disposal of three subsea protection domes and piles.

OPEC+ affirms commitment to oil cuts, defers decision to extend

Saudi Arabia led fellow members of the OPEC+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs.

Egypt returns to LNG exports club seeking to sell cargoes

Egypt indicated it’s ready to rejoin the club of major exporters of liquefied natural gas, making its biggest offer to supply the market in at least five years.

CERAWeek 2019: LNG key factor in energy transition

On the third day (Wednesday, March 13) of CERAWeek by IHS Markit, the industry’s business leaders outlined global economic trends, shifting geopolitics, emerging government policies and advances in technologies.

Exxon aims for $15/bbl costs in large Permian operation

Exxon Mobil plans to reduce the cost of pumping oil in the Permian to about $15/bbl, a level only seen in the giant oil fields of the Middle East.

Oil industry extends olive branch to green new dealers

Perry, in an appearance at the biggest North American energy conference on Wednesday, said he’s interested in “getting together and having a conversation” with U.S. Representative Alexandria Ocasio-Cortez about the low-carbon blueprint intended to free the country from fossil-fuel dependence in a decade.

All change in Kuwait's energy sector

Kuwaiti energy officials are hoping that the recent wholesale shake-up of senior management will herald a calmer future

Venezuela's "badly broken" oil sector needs outside help

Venezuela’s opposition leader is rolling out the welcome mat to foreign investors who want a piece of the world’s largest oil reserves.