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Ukraine and Qatar sign MOU for oil and gas sector

April 6, 2021
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The Ukrainian Energy Ministry and Qatar Petroleum have signed a memorandum of understanding on energy cooperation, the ministry's press service has reported. The document was signed by Ukraine's Acting Energy Minister Yuriy Vitrenko and President and CEO of Qatar Petroleum, Minister of State for Energy Affairs Saad bin Sherida Al-Kaabi. The two states intend to develop cooperation in the

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Ecuador O & G Market to Witness the Highest Growth Globally between 2021-2026

April 6, 2021
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Recovering prices, strong demand from the transportation industry and modern developments of oil and gas exploration and production activities are some of the factors driving Ecuador oil and gas market growth. Increasing exports and imports of oil and gas on the account of surged demand across the world are fuelling the market growth. Global oil demand is estimated

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India to account for one third of oil and gas project starts in APAC by 2025

April 6, 2021
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India is likely to witness an operational commencement of 647 oil and gas projects during 2021 to 2025, accounting for 33% of the total upcoming project starts across the value chain in the Asia-Pacific (APAC) region, according to GlobalData. GlobalData’s report, ‘Asia Pacific Oil and Gas Projects Outlook to 2025 - Development Stage, Capacity, Capex and Contractor Details

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Rig Lynx Rewind: Transocean lands 5-year $830 Million USD Drilling Contract with Chevron

April 6, 2021
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Originally published December 28, 2018 Transocean Ltd. (NYSE: RIG) announced today that it has signed a rig design and construction management contract, as well as a five-year drilling contract, with Chevron USA, Inc. (Chevron) for one of its two dynamically positioned ultra-deepwater drillships (the drillship) currently under construction at the Jurong shipyard in Singapore. The drilling contract has

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Seadrill asks for over 85% debt write off

April 5, 2021
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Offshore drilling rig contractor Seadrill has asked creditors to write off more than 85% of its debts in exchange for a 99% stake in the reorganized company, a court filing showed. The Oslo-listed firm controlled by Norwegian-born billionaire John Fredriksen in February filed for Chapter 11 bankruptcy protection in the United States, the second time it has done

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Pioneer buying DoublePoint Energy LLC for $6.4 billion

April 5, 2021
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Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin. The deal is comprised of approximately 27.2 million shares of Pioneer common stock, $1 billion of cash and assumption

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Colombia provisionally approves ExxonMobil fracking pilot project

April 1, 2021
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Colombia has provisionally approved U.S. oil company ExxonMobil Corp’s plan to develop a pilot project for hydraulic fracturing, known as fracking, in the country’s Valle Medio del Magdalena basin, the oil regulator said on Wednesday. With the Platero investigative project ExxonMobil becomes the second company to begin a fracking pilot project in Colombia, after majority state-owned oil company

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Oil companies defeat New York City appeal over global warming

April 1, 2021
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A federal appeals court on Thursday rejected New York City’s effort to hold five major oil companies liable to help pay the costs of addressing harm caused by global warming. Ruling in favor of BP Plc, Chevron Corp, ConocoPhillips, Exxon Mobil Corp and Royal Dutch Shell Plc, the 2nd U.S. Circuit Court of Appeals in Manhattan said the

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OPEC+ debates whether to ease oil output cuts

April 1, 2021
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OPEC+ debated on Thursday whether to keep deep oil output cuts in place or ease them after the new U.S. administration resumed Donald Trump’s practice of calling OPEC leader Saudi Arabia over policy and said energy should be kept affordable. Jennifer Granholm, the new energy secretary appointed by U.S. President Joe Biden, said on Twitter she had spoken

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