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Nigeria to Construct First Methanol-Processing Plant

February 2, 2021
| Archives

The Nigerian National Petroleum Corporation (NNPC) and its partners have taken the final investment decision on the construction of a $3-billion methanol-processing plant in the Niger Delta – the first of its kind in the country. Jointly owned by the NNPC, the Nigerian Local Content Management Board and DSV Engineering Ltd., the plant will process approximately 14 trillion

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As Myanmar turns over to military power, Woodside puts activity on hold

February 2, 2021
| Archives

Australia’s Woodside Petroleum said it had put some activity on hold in Myanmar after generals seized power and detained elected leader Aung San Suu Kyi. “Access to some infrastructure is limited and as a result we have postponed some logistical activities while we await further clarity,” a Woodside spokeswoman said in emailed comments on Tuesday, but declined to

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Exxon posts historic loss, $22.4 billion for 2020

February 2, 2021
| Archives

Mobil Corp on Tuesday posted a historic annual loss after the COVID-19 pandemic hammered energy prices and reduced the value of the company’s shale gas properties by more than $20 billion. Exxon last year slashed spending on new projects by nearly a third, outlined plans to cut up to 15% of its workforce while adding $21 billion to

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C-Innovation awarded one year contract extension from BP in GOM

February 2, 2021
| Archives

C-Innovation, LLC (C-I), an affiliate of Edison Chouest Offshore (ECO) and its family of companies, has announced a one-year contract extension with BP for Riserless Light Well Intervention (RLWI) in the Gulf of Mexico (GOM). The Island Venture and team are currently mobilized and, in the field, working on one of BP’s assets. The initial RLWI contract with

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Awilco CEO resigns amongst feud with Keppel

February 1, 2021
| Archives

Awilco Drilling PLC announces that Jens Berge, Chief Executive Officer, has decided to leave the Company with effect from 1 February to pursue other opportunities. Eric Jacobs, General Counsel in the Awilhelmsen Group, will act as interim Chief Executive Officer until the Board of Directors appoints a permanent replacement. "The Board would like to thank Jens Berge for

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PV Drilling awarded contract for 3 wells from JVPC

February 1, 2021
| Archives

PetroVietnam Drilling and Well Services Corporation (PV Drilling) signed a contract to supply PV Drilling III jack-up rig for Nhat Viet Petroleum Company Limited (“JVPC”) . Accordingly, PV Drilling III drilling rig will implement the drilling program of JVPC including 3 wells and 1 optional well at Lot 15-2, off the coast of Vietnam . Currently, PV Drilling III rig is serving the drilling campaign with 5 developed

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Sonatrach Signs MoU with Occidental, Eni, and Total

February 1, 2021
| Archives

Within the framework of the existing partnership relations, Sonatrach and its Western partners, Eni, and Total proceeded to sign a Memorandum of Understanding on January 31 aiming to consolidate their relations and their historic partnership in the perimeter contract located in blocks 404 and 208 of the Berkine Basin. The purpose of this Memorandum of Understanding is to

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Tight oil market in first half could push crude to $65

February 1, 2021
| Archives

Oil prices could rise to $65 a barrel by July amid a tight oil market and slow rebound in demand, Goldman Sachs said. The bank said in a note on Sunday data indicated a deficit of 2.3 million barrels per day (bpd) in the fourth quarter of 2020 driven by higher demand and lower supplies from producers outside

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