The outlook for oil and gas drilling in Canada continues to darken. The Petroleum Services Association of Canada (PSAC) again has lowered its forecast for 2019 drilling – to 5,300 wells drilled from 6,600 in the original forecast published last November. In January,…
One of Germany’s “big four” utilities, RWE, has announced it will no longer invest in new coal-fired power stations, instead focusing entirely on electricity generation from renewable energy sources. The company’s new direction will see it cancel plans for the BoAplus project, a 1,200…
Convex Group launches with London and Bermuda regulatory approval Stephen Catlin has formally unveiled his new international specialty (re)insurer with US$1.8 billion of initial committed capital, an AM Best A- (excellent) rating and regulated platforms in Bermuda and London approved to begin underwriting from the…
How do you get millions of barrels of dirty Russian oil out of the pipelines? Eastern European nations are working on an unprecedented logistical operation to do just that. Russian crude flows to Europe are said to have been suffering from high levels of…
Abu Dhabi National Oil Company has issued details of five blocks offered under Abu Dhabi’s second licensing bid round. Three are offshore and two are onshore, and the blocks cover an area of about 34,000 square kilometres (13,127 square miles). The successful bidders…
Oil and gas companies DEA and Wintershall have completed the previously announced merger agreement, creating Wintershall Dea, a company deemed the largest independent exploration and production company in Europe. In a joint statement on the 1st May, BASF (parent company of Wintershall) and LetterOne…
Siemens Gamesa Renewable Energy has announced that it has signed a contract to supply and commission 43 SG 4.5-145 wind turbines, with flexible rating up to 4.8 MW, for a wind project in Canada with an undisclosed customer. The order is for a nominal capacity…
Pipelay vessel Solitaire has started laying the first line of the Nord Stream 2 twin gas pipeline in Russian waters. Solitaire will spend about a month constructing one of the two approximately 100 kilometre long sections in the Russian territorial sea. Solitaire, operated by Allseas,…
Billionaire Warren Buffet’s company Berkshire Hathaway has committed to invest US$10 billion in Occidental Petroleum, subject to Oxy’s entering into and completing its proposed acquisition of rival Anadarko. According to Oxy’s statement on the 30th April, Berkshire Hathaway will receive 100,000 shares of Cumulative…
Cortez Subsea has recruited more staff in Aberdeen and Kuala Lumpur after securing a contract to lay what the company claims will be Malaysia’s first subsea pipeline featuring mechanical connectors. The company will manage the programme jointly with Alam Maritim Resources Berhad, with Cortez…
