Lebanon’s parliament has approved a law to tax revenue from oil operations, weeks before its first sale of offshore energy exploration rights to interested companies like Total and ExxonMobil. Lawmakers approved the petroleum tax law in a vote on the 19th September, the state National…
Operators implemented technology to rapidly increase Permian basin (southern United States) production and they are poised to continue increasing Permian production. But Wood Mackenzie Ltd suggests geological constraints could lead to long-term production growth declines, perhaps early next decade. WoodMac forecasts that Permian production…
Seismic equipment provider inApril has completed a full-scale sea trial of its fully integrated node-based seabed seismic acquisition system, Venator. The trial, conducted in 110 metres (361 feet) of water at the Edvard Grieg field in the Norwegian North Sea, confirmed Venator as the…
Willis appoints new head of international construction Willis Towers Watson has appointed Martin Hiller as head of international construction, within its corporate risk and broking unit. Mr Hiller will be responsible for client management, technical, placement and risk management specialists to support Willis Towers…
It is no secret that oil majors are among the biggest corporate emitters of pollution. What may be surprising is that they are reducing their greenhouse-gas footprints every year, actively participating in a trend which has swept up most corporate behemoths. Sixty-two of the…
Total has signed an agreement with EREN RE to accelerate its growth in the production of power from renewable sources. Total will acquire an indirect interest of 23% in EREN RE by subscribing to a capital increase for an amount of €237.5 million. The agreement…
Rosneft has completed its due diligence on infrastructure of the export oil pipeline in Iraqi Kurdistan (‘KROP”) and will shortly finalise the legally binding documents on oil pipeline project under the Investment Agreement signed at the St Petersburg International Economic Forum in June 2017. …
The semi-submersible Island Innovator has finished drilling appraisal well 7324/8-3 on the Wisting oil discovery in the Barents Sea. According to the Norwegian Petroleum Directorate, the well was drilled in 396 metres (1,300 feet) of water in licence PL 537, two kilometres (1.2 miles)…
Halliburton has announced the release of GeoTech HE, a robust drill bit which incorporates new features and materials to deliver enhanced performance and increased reliability in today’s high energy drilling systems characterised by very high weight-on-bit and drilling torque. Recent years have seen advances…
A possible resumption of Niger Delta militancy threatens a five-month recovery in oil production in Nigeria, one of two wildcard members of the Organisation of Petroleum Exporting Countries warns an analyst at Verisk Maplecroft. “Militant groups are running out of patience, the government is…
