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Tuesday, November 21, 2017

Oil And Gas News

US to Become Oil and Gas World Leader in Long Term - IEA

© travelview / Adobe Stock

The head of the International Energy Agency Fatih Birol said on Thursday the United States would - in the long term - become the "undisputed leader of oil and gas production worldwide".   Speaking at the U.N. climate conference in Bonn, Germany, he said the agency expected oil markets to rebalance next year if oil demand remained "more or less" as robust as it is today and if OPEC and non-OPEC continued with their oil production cuts.     (Reporting by Ahmad Ghaddar; Editing by Mark Potter)

US Oil Rig Count Steady this Week -Baker Hughes

© Aneese / Adobe Stock

U.S. energy companies kept the oil rig count unchanged this week, General Electric Co's Baker Hughes energy services firm said on Friday, as some analysts expect a gradual decline in overall rigs in the fourth quarter and in 2018. The rig count, an early indicator of future output, held at 738 in the week to Nov. 17, still much higher than 471 rigs a year ago as energy companies boosted spending plans for 2017 as crude started recovering from a two-year price crash. The increase in drilling lasted 14 months before stalling in August…

Port Corpus Christi to benefit from LNG partnership with China

 ©Trong Nguyen/Adobe Stock

Port Corpus Christi officials are confident that the agreement signed between Cheniere Energy of Houston and China National Petroleum Corporation (CNPC) will bring increased traffic to the port, according to the San Antonio Business Journal. Officials from Cheniere accompanies President Trump on his tour to China and signed a Memorandum of Understanding with the Chinese company. CNPC is the largest gas and oil supplier and producer in China and is also one of the largest providers of oilfied services.

CNPC, Cheniere Pact for LNG

Photo: Cheniere Energy, Inc

China’s state-owned oil company, China National Petroleum Corporation (CNPC), and U.S. independent energy company Cheniere Energy have signed a Memorandum of Understanding (MoU) for long-term sales and purchases of liquefied natural gas (LNG), Reuters reported. The report quoted U.S. State Department saying that the deal between the two companies was signed during president Trump’s first state visit to China. Neither companies disclosed details of the transaction. According to CNPC…

Offshore Oil Service Firms Dominate Energy Bankruptcies

(File photo: Ocean Rig)

Offshore oil drilling and service companies, hurt by the energy industry's shift to lower-cost shale and away from deepwater projects, are dominating the year's energy bankruptcies in North America, according to law firm Haynes and Boone. There were fewer oilfield service companies seeking protection this year than last but those that did have had larger debts. Through October, 44 oilfield services companies filed for bankruptcy in the United States and Canada owing creditors $24.8 billion, compared with 72 companies and $13.48 billion for all of 2016.

Arctic Oil Expansion Panned by Scientists

Image: © Nightman1965/Adobe Stock

A group of 37 U.S.-based scientists whose research focuses on Arctic wildlife asked two U.S. senators in a letter on Thursday not to open the National Arctic Wildlife Refuge to oil and gas exploration, according to a copy seen by Reuters. The scientists, including several retired former officials from the Alaska Department of Fish & Game, the U.S. Geological Survey and the U.S. Fish & Wildlife Service, said in a letter to Senator Lisa Murkowski of Alaska and Senator Maria Cantwell…

Bahri Optimistic of Oil Tanker Market

Photo: Bahri

Bahri, a global leader in transportation and logistics, is very optimistic about the future of the oil tanker market and it believes that there will continue to be demand for this market, said Mohammed Al-Sarhan, Vice Chairman of Bahri, who possesses extensive experience in oil and gas, transportation and logistics, and other sectors. He was talking in the annual Bahri Oil Transportation Forum, which was held in Dubai last week. John ‎Angelicoussis, Chairman of Angelicoussis Shipping Group Limited…

Summit Signs Floating LNG Facility Contract

(Left to right) Chairman of Summit Group Muhammed Aziz Khan, Managing Director of Summit LNG Terminal ANM Tariqur Rashid, Managing Director of Geocean Fabrice Novel and Business Development Manager of Geocean Philippe Besson. Photo:  Summit Power International Pte Ltd.

Summit LNG Terminal, a subsidiary of Summit Power International, signed a USD 100 Million turnkey contract with marine work contractor consortium comprising of Geocean SAS and MacGregor for design, engineering, procurement, fabrication, installation and testing of the Fixed Infrastructure (FI) for its Floating LNG Storage and Regasification Terminal (FSRT) at Moheskhali, Cox’s Bazar. The project completion date is 16 months from the time of signing. The Fixed Infrastructure will consist…

Cooperation for Oil Spill Preparedness in Africa

Photo: GIWACAF

A regional conference of countries in west, central and southern Africa has committed to continue to work at both national and regional levels to boost preparedness to deal with oil spill incidents which could be devastating both for the marine environment and financially. The conference (6-9 November) in Abidjan, Côte d'Ivoire, was hosted by CIAPOL, the Ivoirian pollution control centre. It brought together industry and government focal points from 20 out of 22 west, central and southern African countries covered by the Global Initiative for West, Central and Southern Africa (GI-WACAF).

New Coating Dispensing System

(Photo: Sulzer Mixpac USA, Inc.)

Sulzer Mixpac USA, Inc. has launched MIXPAC MixCoat Manual, a new member of its cartridge-based two-component dispensing system line. The lightweight MixCoat Manual protective coating dispensing system features a unique brush assembly on a manual dispenser, which increases stripe coating productivity and speed, the manufacturer said. The system is suited for repairs and rope work on offshore oil and gas, petrochemical, marine, and bridge repair applications. MixCoat Manual offers efficient…

Rosneft, NIOC Ink Cooperation Deal

Image:  Rosneft

Russian oil producer Rosneft and the National Iranian Oil Company (NIOC) have agreed an outline deal to work together on a number of “strategic” projects in Iran together worth up to $30 billion, Reuters reported quoting Rosneft’s head Igor Sechin as saying. The potential collaboration with Iran would further strengthen Rosneft’s position in the Middle East, the company having already secured a number of deals in the region, including the acquisition of a majority stake in Iraqi Kurdistan’s main oil pipeline.

Indonesia Offers 26 Oil-and-gas Blocks

According to Thomson Financial, the Indonesian government launched a tender for 26 oil-and-gas blocks to boost the country's oil and gas production. The oil and gas blocks that were offered today include the Bawean II, East Bawean I, Situbondo, and the North East Madura blocks onshore and offshore East Java province, as well as the South Barito (onshore and offshore) and Mahakam Hilir (onshore) blocks on Kalimantan island. [Source: Thomson Financial]

CNOOC Sets 2010 Output Target at 48-50m Tons

China National Offshore Oil Corp, the parent of CNOOC Ltd, said it has set an oil and gas output target for 2010 of 48 mln-50 mln tons of oil equivalent. CNOOC, the country's largest offshore oil and gas producer, said overseas oil and gas output is expected to hit 20-25 mln tons in 2010. CNOOC had oil and gas output of 40.33 mln tons of oil equivalent in 2006 with overseas output at 5.57m tons, it said in a statement. CNOOC has invested in 45 overseas oil and gas blocks in 10 countries including Nigeria, Australia, Kenya and Indonesia. Source: AFX News

ONGC Videsh Wins 3 Exploratiom Blocks in Myanmar

ONGC Videsh Ltd (OVL) has won three offshore exploration blocks in Myanmar. The contracts will be signed between OVL and Myanmar Oil and Gas Enterprise, a Government of Myanmar enterprise. The company succeeded in acquiring 100 per cent participating interests in these three deepwater blocks AD-2, AD-3 and AD-9 in Myanmar offshore. Currently, the total oil and gas production of Myanmar is about 10,000 barrel oil per day (bpd) and 820 million standard cubic feet per day (MMSCFD), respectively. The total oil and gas reserves are estimated at 50 million barrel and 10 trillion cubic feet respectively. Myanmar Oil and Gas Enterprise produces about 10,000 bpd and 120 MMSCFD gas from onshore oil and gas fields. [Source: The Hindu Businessline]

Coalition Seeks to Block Alaska Oil, Gas Permit

A coalition of Native tribal governments, commercial fisherman and environmentalists has filed an administrative appeal to block a wastewater discharge permit for oil and gas operators in southern Alaska's Cook Inlet, Reuters reported. The appeal, filed in the Ninth Circuit Court of Appeals, challenges a general permit issued by the Environmental Protection Agency that allows established oil and gas production facilities to discharge wastes directly into the inlet's marine waters. The new permit, scheduled to go into effect on July 2, covers 16 offshore oil and gas platforms and three onshore facilities in Cook Inlet, said Dianne Soderlund, communications coordinator for EPA's Alaska oil and gas section.

Denmark's Ramboll Gain World Oil Capital Foothold

Houston City Skyline: Photo courtesy of Ramboll

International oil and gas consultancy Ramboll has acquired Excel Engineering Inc., an American engineering consultancy within the oil and gas industry based in Houston, Texas. The agreement was signed in Houston by John Sørensen, Managing Director, Ramboll Oil & Gas and Mostafa Jamal, President and CEO, Excel Engineering. Excel Engineering has been an integrated part of the Houston oil and gas market for 20 years, offering quality services across engineering disciplines very similar to those provided by Ramboll today. John Sørensen said:  “I’m very pleased to announce this acquisition.

Indonesia Awards Oil Blocks to Shell, Petronas, Pertamina

Indonesia's state-owned Pertamina, Royal Dutch Shell, and Malaysia's Petronas  were among the companies awarded 11 Indonesian oil and gas blocks last year, government officials said on Wednesday. Indonesia offered a total of 16 conventional and unconventional oil and gas blocks last year, Wiratmadja Puja, acting director general of oil and gas at the Indonesian energy and mines ministry said. Government officials previously put the number at 21. "We will bid (another) 12 oil and gas blocks this year -- two conventional blocks and 10 shale gas blocks," Naryanto Wagimin, director oil and gas upstream at the Indonesian energy and mines ministry said, referring to 2015. "We want more realistic (bids) and prioritize the more credible companies." Reporting by Wilda Asmarini

Australia Oil & Gas Survey: Day 2

Australia must work harder to build local oil and gas talent, according to Industry Snapshot Poll. Delegates at the 2012 Australasian Oil and Gas Conference have warned that Australia needs to do more to grow its own oil and gas talent, according to a poll conducted by GL Noble Denton. Oil and gas professionals have called for Australia to do more to build local industry talent, as the country struggles with an increasing shortage of skilled professionals. According to a poll conducted yesterday at the Australasian Oil and Gas Conference and Exhibition (AOG) in Perth, 68% of industry professionals think that Australia invest more in developing a local skills base, while 32% thought that the country is doing enough to increase the pool of local professionals.

North Sea Open for Business

More licenses than ever before are being offered to companies to extract oil and gas from the North Sea, UK’s Energy Minister Mike O'Brien announced on Nov. 12, 2008. The announcement will help the UK to make the most of its own home grown supplies of energy. As part of the Department of Energy and Climate Change' s 25th offshore oil and gas licensing round, 171 new licences are being offered to 100 companies covering 257 blocks of the North Sea. "We are now seeing record interest from companies wishing to exploit the UK's considerable oil and gas resources in the North Sea. Whilst there's not an endless supply of North Sea oil and gas, with up to 20 billion barrels, or more, left under the sea we can't overlook its contribution to our security of energy supply as well as to our economy.

Offshore Drilling Expenditure Expected to Increase

MarketResearch.com announced the addition of GBI Research's new report "Offshore Drilling Industry in the Americas to 2015 - New Deepwater Discoveries and Stringent Offshore Regulations Affecting the Future Industry Outlook," to their collection of Energy market reports. The report provides forecasts for the offshore drilling industry in the Americas to 2015. The report also provides segmental forecasts of the offshore drilling market by water depth and highlights the major countries in the region. An in-depth analysis of the key trends, challenges, and the competitive scenario is also included. Offshore drilling expenditure in the Americas is expected to increase to 2015 after a dip in the previous two years, according to GBI Research.

Australia to be Largest Gas Exporter?

Richard Palmer, GL Noble Denton’s country manager for Australia.

Oil and gas professionals tip Australia to become world’s largest gas exporter by 2030. Delegates at the 2012 Australasian Oil and Gas Conference forecast huge growth in Australia’s role in the energy markets, tipping the country to become the largest gas exporter by 2030, according to a poll conducted by GL Noble Denton. Australasian Oil and Gas Conference, Perth – 23 February 2012: Oil and gas industry professionals are confident in Australia’s ability to become the world’s…

UK Ship Register Signs its First Unmanned Vessel

C-Worker 7. Photo: ASV Global

The UK Ship Register has signed its first ever unmanned vessel to the flag, showing how it is adapting to the changes of the maritime industry. ASV’s C-Worker 7 will be used for work such as subsea positioning, surveying and environmental monitoring. It can be used under direct control, semi-manned or completely unmanned. Although such autonomous vessels are now being introduced to many fleets in both commercial and military sectors across the world, they are still relatively new in the maritime sector.

U.K. Offshore Oil and Gas Interim Report

Photo: Department of Energy & Climate Change

The U.K. Department of Energy and Climate Change (DECC) issued a news release stating that the interim report on the economic and energy security opportunities still available from the U.K.’s offshore oil and gas resources has been completed. Among other things, the report recommends a new arm’s length regulatory body to oversee and develop a program to maximize the economic recovery of oil and gas for the U.K. Sir Ian Wood has published his interim report revealing the economic and energy security opportunities still available from the U.K.’s offshore oil and gas resources.

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