The Isle of Man’s Department of Economic Development has opened an offshore licensing round. This coincides with the UK 30th offshore round, which includes the Irish Sea area where the island is located, allowing exploration teams to take an overall view of the potential…
Shareholder Notice dated the 15th September 2017: OIL’s Exposure to Hurricanes Harvey & Irma Over the past several weeks, Hurricanes Harvey and Irma have received unprecedented attention in the media because of their extraordinary size, power and damage potential attributes. Harvey deposited more than…
The US offshore rig count has risen to 17 active drilling units this past week, according to a report by Baker Hughes. Baker Hughes Rig Count: US. -8 to 936 rigs US Rig Count is down 8 rigs from last week to 936, with oil…
Statoil and Eni have jointly awarded Bristow a contract for one SAR helicopter, and one transport helicopter, which can be converted to a SAR helicopter when needed. Both are Sikorsky S-92 helicopters. Each contract has a duration of five years with options to extend by…
Siemens Gamesa Renewable Energy has secured an agreement for the supply of 300 MW in China, one of its largest ever in this market. This substantial order reinforces the company’s presence in the world’s biggest wind power market where it has established itself as one…
A dearth of new investment in oil production is stoking a risk of tighter crude supply and unstable prices, even as demand growth is expected to slow over the next five years, a senior International Energy Agency official has stated. The worldwide cushion of…
Global oil demand will climb this year by the most since 2015, the IEA said, amid stronger-than-expected consumption in Europe and the US. The IEA, which advises most major economies on energy policy, increased its estimate for demand growth in 2017 by 100,000 bpd…
Total E&P UK has extended the charter of Prosafe’s semi-submersible accommodation vessel Safe Caledonia. The vessel could now remain at the Elgin-Franklin complex in the UK central North Sea until late October.
Crews scrambled on the 13th September to clean up an oil spill from a sunken tanker which had spread to some of Athens’s most popular beaches. The 45-year-old vessel, Agia Zoni II, was carrying 2,500 tonnes of fuel when it sank off the island…
Royal Dutch Shell is set to end a century of oil production in Iraq by withdrawing from two of the Arab state’s flagship fields to focus on more profitable gas development. Shell’s retreat highlights the challenges foreign operators face with low-margin oil contracts in…
