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Stena Drilling and dCarbonX set framework towards low carbon future

February 18, 2021

The companies will work together to engineer solutions to discover and develop subsurface assets for combinations of geothermal energy, molecular energy storage, and carbon sequestration. Erik Ronsberg, CEO of Stena Drilling said: “We’re pleased to sign an agreement with dCarbonX to advance our journey in the Energy Transition. This innovative partnership dovetails well with the work Stena is

Egypt announces 24 blocks up for exploration

February 18, 2021

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Egypt announced on Thursday the start of a bid round for exploration and exploitation of oil and natural gas in 24 blocks. The round, which concludes on Aug. 1, includes nine blocks in the Mediterranean Sea, 12 in the Western Desert and three in the Gulf of Suez, an oil ministry source told Reuters. Egypt’s gas production has boomed

Shell sells out of Western Canada shale operations for $707 million

February 18, 2021

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Crescent Point Energy Corp. agreed to buy some of Royal Dutch Shell Plc’s Western Canadian shale operations for about C$900 million ($707 million) in the latest example of consolidation in the Canadian oil and gas sector. Calgary-based Crescent Point, an oil driller with a focus on Saskatchewan, will acquire Shell’s Kaybob Duvernay assets for $550 million in cash

South Africa Seeks $68 Billion in Investment

February 17, 2021

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According to H.E. President Cyril Ramaphosa, South Africa is officially open for business. With a multitude of clean energy projects coming online, ongoing exploration activities unlocking substantial gas reserves and a call for one trillion ($68 billion) South African rand in infrastructure investment, the country is ripe with opportunity, as it seeks to mitigate chronic power shortages,

Maersk Convincer named jack-up of the year by Shell

February 17, 2021

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Recognizing the rig’s outstanding performance across all parameters, Shell has chosen Maersk Convincer as Jack-Up Rig of the Year 2020. The rig has now won this award for three consecutive years. Since arriving in Brunei Darussalam in autumn 2017, Maersk Convincer has consistently been one of the best performing drilling rigs in Shell’s employ. Maersk Drilling’s successful customer

Shares up by 10% on strong crude prices, BP offers employees shares in the low carbon shift

February 17, 2021

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Oil major BP is launching its first share award scheme to rally its more than 60,000 employees around CEO Bernard Looney’s plan to shift to renewable energy following a bruising year of mass layoffs, bonus suspensions and spending cuts. The distribution of the shares, which will be locked for four years, will take place throughout 2021. The cost of

46,000 MW of power generation forced offline in Texas weather event

February 17, 2021

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A total of 46,000 megawatts (MW) of power generation has been forced offline since the Texas weather event started, the Electric Reliability Council of Texas said on Wednesday in a call with reporters. Of that, 28,000 MW was thermal generation, while 18,000 MW was renewable generation, ERCOT spokeswoman Leslie Sopko said. The system was still shedding 14,000 MW

Confidence returning in oil as Buffet buys in with $4 billion worth of Chevron

February 17, 2021

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Warren Buffett’s purchase of a $4.1 billion stake in Chevron Corp is the latest sign of confidence in an oil industry recovery in a year that has also seen one of America’s most influential financiers reset key investments. U.S. oil and gas companies have become a theme for Buffett’s Berkshire Hathaway Inc at a time when the industry

Gulf coast is frozen and U.S. government looks at permanent oil and gas ban for GOM

February 17, 2021

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The Bureau of Ocean Energy Management (BOEM) announced that it is rescinding the Record of Decision (ROD) for the Gulf of Mexico (GOM) Oil and Gas Lease Sale 257. The decision pauses planning for the proposed sale, which was expected to occur this March. The ROD is being rescinded in response to Executive Order 14008, “Tackling the Climate Crisis

Nigerian Oil and Gas manufacturing base set for completion 4Q 2022

February 15, 2021

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Engr. Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has said that the Nigerian Oil and Gas Park will be completed in the fourth quarter of 2022, during an inspection of the construction work at the site in Bayelsa state. The NCDMB head noted that the park will act as a low-cost production

Archives

Stena Drilling and dCarbonX set framework towards low carbon future

Egypt announces 24 blocks up for exploration

Shell sells out of Western Canada shale operations for $707 million

South Africa Seeks $68 Billion in Investment

Maersk Convincer named jack-up of the year by Shell

Shares up by 10% on strong crude prices, BP offers employees shares in the low carbon shift

46,000 MW of power generation forced offline in Texas weather event

Confidence returning in oil as Buffet buys in with $4 billion worth of Chevron

Gulf coast is frozen and U.S. government looks at permanent oil and gas ban for GOM

Nigerian Oil and Gas manufacturing base set for completion 4Q 2022

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International Rig Count up 12% from last year

North America Rig Count: U.S. -4 to 751 Canada -12 to 127

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