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Month: July 2018

Mid 2020 before new Nigerian refinery comes online | OutPut by Rig Lynx

July 7, 2018
| Archives

Africa’s richest man Aliko Dangote, who is financing the construction of one of the world’s largest oil refineries, believes that the 650,000-bpd facility could be near its full capacity by the middle of 2020, which would be some one and a half years later than the originally planned startup date. Back in 2016, Dangote, a construction and concrete magnate

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Oil primed for a super spike? | OutPut by Rig Lynx

July 6, 2018
| Archives

Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented crude price spike, according to Sanford C. Bernstein & Co. Companies have been compelled to focus on boosting returns and shareholder distributions at the expense of capital expenditures

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Aramco is changing the formula | OutPut by Rig Lynx

July 6, 2018
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Saudi Arabia has turned its oil market fortunes around over the past 1 ½ years. From facing potential financial collapse due to a historic supply overhang of crude on the back of U.S. shale oil production and Riyadh’s late 2014 decision to turn on the oil production spigot to flood markets, retain market share and drive prices

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Rolls Royce marine division in the hands of Kongsberg for $661 million | OutPut by Rig Lynx

July 6, 2018
| Archives

Two of the greatest advocates for autonomous shipping are set to join forces with news breaking that Norway’s Kongsberg has entered into agreement with Rolls-Royce to acquire Rolls-Royce Commercial Marine. “Kongsberg and Rolls-Royce Commercial Marine are by and large complementary in terms of products, solutions and competencies and the acquisition is in line with Kongsberg’s ambitions of profitable

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Seadrill’s West Capella picked up by Shell for a 5 well deal

July 6, 2018
| Archives

Seadrill Partners has secured a contract with Shell for one of its drillships. The West Capella drillship will work for Shell’s subsidiary Sabah Shell Petroleum Limited, drilling five wells offshore Malaysia. Shell will also have several options to extend the contract. Backlog for the firm portion of the contract is expected to be approximately $32 million and start is expected in October

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Oil Buyers’ Club talks? | OutPut by Rig Lynx

July 5, 2018
| Archives

When reports emerged that India and China are in talks about forming an oil buyers’ club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying. “The timing is right. The boom in U.S. oil and gas production gives us greater

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Oil and gas top the list for United States’ leading accomplishments at 242 years of age | OutPut by Rig Lynx

July 4, 2018
| Archives

How did the United States, at 242 years of age, become the new world leader in oil and gas production and at the same time, the new world leader in reducing carbon emissions? In part because of the U.S.’s two other new accomplishments in the energy sector, according to the executive director of the International Energy Agency. According to IEA’s Fatih Birol, the United

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