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Month: July 2019

Odfjell bags a contract with TOTAL for the Deepsea Stavanger

July 12, 2019
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Odfjell Drilling has today signed a firm drilling contract with oil major Total for drilling offshore South Africa with the 6th generation semi-submersible Deepsea Stavanger The contract value including compensation for mobilization and demobilization periods is estimated as being USD 145 – 190 million plus incentives. The company expects the drilling program to take 180-280 days. Mobilization to

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Karoon and Constellation Negotiate on Deepwater Drillship for Peru

July 12, 2019
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Constellation may agree to a new drill ship charter contract for overseas operation. The Brazilian group is negotiating with Karoon to hire equipment to carry out an exploratory campaign on the Z-38 block in the Tumbes basin in Peru. The Karoon campaign on assets acquired in 2008 is scheduled to begin in the first quarter of 2020. The

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Oil Edges Up as Producers “Weather†T.S. Barry

July 12, 2019
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Oil prices inched up on Friday as U.S. Gulf of Mexico crude output was halved by disruptions caused by a tropical storm, but concerns over a global crude surplus in the months ahead limited gains. Brent crude LCOc1 futures were up 31 cents to $66.83 a barrel by 1:21 p.m. EDT (1721 GMT). U.S. West Texas Intermediate (WTI)

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Oil and Gas Analytics Market Size to Surpass US $21 Bn by 2024

July 11, 2019
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Oil And Gas Analytics Market size is expected to exceed USD 21 billion by 2024. Increasing downstream demand owing to rapid refinery expansion to fulfill petroleum demand will drive global oil and gas analytics market size. These services will help to reduce the downtime and maintenance cost for refining industries. Increasing exploration and production to suffice growing demand

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Global Renewables Investment Goes Down

July 11, 2019
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The first half of 2019 saw a 14% decrease in global renewable energy investment compared to H1 2018, according to the latest report from BloombergNEF (BNEF). The H1 2019 global investment in renewables amounted to USD 117.6 billion, said to be mainly caused by the plunge in activity in China as it shifts away from government-set tariffs to auctions for new

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Dominican Republic in Houston rallying for first oil licensing round

July 11, 2019
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The Dominican Republic’s first oil licensing round will be a success if it awards more than two of the 14 blocks on offer this year, a government official said at an event disclosing the Caribbean nation’s fiscal terms. The licensing round, which began on Wednesday with disclosure of contract terms, comes after Brazil, Guyana and Mexico attracted billions

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Shelf Drilling announces 3 contract extensions

July 10, 2019
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On July 4, 2019 Shelf announced that it has executed a two-year extension for each of the Shelf Drilling Tenacious and the Shelf Drilling Mentor in continuation of their existing contracts through priced options exercised by the customer. Both rigs are now committed until January 2022. On July 8, 2019 Shelf announced that it had “secured a six-month

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Petrobras calls for innovation, pledges over $15 mm in next five years

July 10, 2019
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Belo Horizonte receives this Wednesday (10/7) event to launch a partnership between Petrobras and Sebrae. Initiative will finance 10 projects nationwide, totaling R $ 10 millionPetrobras will launch a call for Research, Development and Innovation (P & D & D) projects on Wednesday (10/07), in partnership with Sebrae. startups and innovative small businesses. The announcement provides for the financing

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Iran vows retaliation over tanker seizure

July 10, 2019
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Iran’s military vowed to retaliate against the seizure by British Royal Marines of an oil tanker loaded with the Islamic Republic’s crude off the coast of Gibraltar last week. “It will be reciprocated, at a suitable time and in a suitable place,†Mohammad Bagheri, the chief of staff for Iran’s armed forces, was quoted as saying by the official Islamic

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