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We're likely in for a volume war until the next scheduled OPEC+ meeting in June, according to Rystad Energy. We’re likely in for a volume war until the next scheduled OPEC+ meeting in June, according to Rystad Energy. If no agreement is reached then, exploration and production (E&P) companies are likely to “slash” capital …
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BW Energy has produced first oil from the DTM-4H Gamba well drilled as part of Tortue Phase 2 development project in the Dussafu Marin Permit offshore Gabon. BW Adolo FPSO; Source: BW Offshore There are five oil fields within the Dussafu Permit: Moubenga, Walt Whitman, Ruche, Ruche North East, and Tortue. BW sanctioned the second phase of …
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Illustration only. Image source: PixabayOffshore drilling contractor Shelf Drilling has secured a one-year contract extension for the Trident 16 jack-up rig. Shelf Drilling said on Monday that the new contract is in direct continuation of its current term with Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez offshore Egypt. The Trident 16 …
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The worldwide offshore rig count in February 2020 has risen by two units sequentially, but dropped by the same number year-over-year, according to a rig count report by Baker Hughes Company. lllustration; Author: SP Mac (under permission from the photographer) BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide …
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Another shockwave is about to rip through a world economy already reeling from the coronavirus. “Oil prices at sustained lows of $40 for five years is crisis time in Oman first, then Saudi Arabia and Bahrain, with defaults, peg devaluations, hefty spending cuts and higher taxes, with deep recessions and insolvent banks,” said Rory …
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Offshore oil and gas players are increasingly adopting blockchain-based 'smart contracts,' according to a Houston-based tech entrepreneur. Offshore oil and gas players are increasingly adopting blockchain-based “smart contracts,” according to a Houston-based tech entrepreneur. “A blockchain is an immutable data record – called ‘blocks’ – that are linked together as entries in a distributed ledger,” …
The National Oil Company of Senegal, Petrosen, has officially launched the country’s first ever offshore licensing round at the MSGBC Basin Summit & Exhibition in Dakar, Senegal. Source: TGSAs previously reported by Offshore Energy Today, the licensing round comprises twelve blocks on offer in the MSGBC Basin, offshore Senegal. Companies will be able to submit bids over …
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The cold weather has simply not arrived. After the lowest summer U.S. natural gas prices since 1998, the market has continued to fall this winter 2019-2020. The cold weather has simply not arrived. In fact, after the second warmest November on record, nine of the ten weeks ending November 23 to January 25 were all …
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NNPC GMD, Mele Kyari (sitting 3rd right), making the announcement of the Final Investment Decision (FID) on the NLNG Train 7 taken by the Board of the NLNG in Abuja The Nigerian National Petroleum Corporation (NNPC and its investment partners, Shell, Total and ENI, have taken the Final Investment Decision (FID) to go ahead with …
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Oil jumped close to $70 a barrel after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq. (Bloomberg) -- Oil jumped close to $70 a barrel after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq, intensifying fears of conflict in the world’s …
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