Oil & Gas UK is disputing a university study which predicts early exhaustion of UK oil and gas reserves and which calls for a prompt switch to renewable energy. “There are up to 20 billion bbl of oil and gas resources still to be…
When OPEC and its allies gather this week, they will have the best evidence yet that their efforts to clear a global oil glut are succeeding. It may prove short-lived. Crude prices have rebounded to a three-month high and the world’s bloated fuel inventories…
India’s ONGC has reportedly made a large oil discovery near its Mumbai High offshore oil fields, off India’s west coast. According to a widely cited report by Reuters on the 20th September, the Indian oil company’s discovery might hold in place reserves of 20 million…
Subsea contractor Unique Group has entered into a cooperation agreement with Aberdeen-based INNOVO, a developer of subsea and cable laying equipment which includes a powered drive system and a modular carousel system. The two companies plan to offer sale and rental solutions jointly to…
Iran’s Deputy Energy Minister for Electricity and Energy Affairs Hushing Falahatian has stated that the power grids of Iran and Iraq will be interconnected in mid-November 2017. “Iran is ready to take a serious part in reconstruction of the Iraqi electricity grid once terrorists…
Wintershall has permission from Norway’s Petroleum Safety Authority to drill a deepwater exploration well in production licence 894 in the Norwegian Sea. The semi-submersible West Phoenix should spud well 6604/5 on the Balderbrå prospect by the 1st October. Drilling should last 36 days,…
Three weeks after Hurricane Harvey ravaged the massive fuel-making industry along the Texas coast, the region’s recovery from storm damage is starting to disrupt plans for crucial maintenance at refineries thousands of miles away from the flood zones. Harvey knocked out almost one-quarter of…
Following a recent deal to sell its oil business, Danish shipping giant Maersk has now reached an agreement to sell its Maersk Tankers unit. The company said on the 20th September that it would sell the shares in Maersk Tankers to APMH Invest A/S…
Aibel has completed assembly of the three modules for the Johan Sverdrup drilling platform in Klosterfjorden, Norway. This was one of the country’s largest-scale inshore marine operations to date, the company claimed. Earlier this month Heerema Marine Contractors’ crane vessel Thialf lifted the…
PBES and Norwegian Solar AS have announced a partnership agreement to provide PBES energy storage to support solar power generation in global markets. PBES will supply containerised storage solutions for Norwegian Solar’s systems being deployed in the USA and Saudi Arabia. This partnership underscores…
