The oil and gas industry will continue its slow recovery as upstream companies increase production, helping the midstream and services businesses as well, according to Moody’s 2018 outlook. Excess supply will continue to dampen oil prices in the coming year. Natural gas prices, on…
Chevron Corporation’s capital and exploratory budget will be US$18.3 billion in 2018, down from US$19.8 billion in 2017. Upstream spend is expected to total US$15.8 billion in the period, with approximately US$8.7 billion earmarked to sustain currently producing assets, including US$3.3 billion for projects…
Marlink and Radio Holland have concluded a partnership agreement whereby Marlink has acquired Radio Holland’s connectivity business. The partnership builds on the complementary strengths and extensive expertise of the two technology companies and enables Marlink to strengthen its global leadership in maritime VSAT further….
Pancontinental Oil & Gas has signed a petroleum agreement (PA) covering 10,947 square kilometres (4,053 square miles) in the Orange basin offshore Namibia. A new petroleum exploration licence (PEL) will be issued over the area. The company believes the encompassed block 2713 is highly…
Lloyd’s Register (LR), the engineering, technical and business services organisation, has been selected by BP’s Trinidad and Tobago subsidiary to support corrosion monitoring and management activities. Lloyd’s Register said on the4th December that it would also provide BPTT with improved efficiencies and support for…
Following a recent letter of intent, Singapore’s Sembcorp Marine has officially secured the contract to build the hull for Statoil’s Johan Castberg FPSO. Statoil and Sembcorp Marine signed the letter of intent in November. Earlier this week Statoil filed the plan for the Johan…
Siluria Technologies, a leader in developing disruptive process technologies for the petrochemical and energy industries, and Wood, a global leader in the delivery of project, engineering and technical services to energy and industrial markets, have announced the availability of the ModusTM process technology for petroleum…
Total and Sonangol have signed agreements for two new upstream projects offshore Angola. The two companies agreed on contractual conditions for the development of Zinia Phase 2 in deepwater block 17, enabling a commitment to a final investment decision. Zinia 2 will be…
Eleven oil and gas companies have applied for production licences in the 24th licensing round on the Norwegian shelf. A total of 102 blocks or parts of blocks were announced in this licensing round. Of these, nine are in the Norwegian Sea and 93 in…
A potential disruption to the oil market eased on the 5th December when Lebanese Prime Minister Saad Hariri rescinded the resignation he had announced on the 4th November in Saudi Arabia) . The announcement threatened to escalate already high tension between Saudi Arabia and Iran,…
