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BPC replaces Seadrill with Stena DrillMax Ice for Exploration in Bahamas

May 26, 2020

Consistent with this revised operational objective, BPC, on 24 May 2020, entered into an agreement with Stena DrillMax Ice Limited ("Stena"), a wholly-owned subsidiary of Stena Drilling Limited, one of the world's foremost independent drilling contractors, for the provision of a sixth-generation drilling rig (the "Rig Contract"). The Rig Contract is fully termed, binding and unconditional, and

Low oil prices will take demand beyond pre-crisis highs experts say

May 26, 2020

| Archives

Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions. “In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond,” Fatih Birol

ASEAN SHIPCARE, taking the hard work out of preserving your assets

May 26, 2020

| Business Spotlight

Laying-up ships makes good business sense during tough times. Not only does it allow ship owners and operators to avoid non-profitable journeys and over supply, it also reduces wear and tear, crew costs, fuel consumption and insurance premiums during the idle period. The ASEAN SHIPCARE brand is owned by MEKUR TEGUH SDN BHD, a private limited company formed

BP Scales Back Management

May 25, 2020

| Archives

When BP Plc announced its plans to tackle its carbon emissions in February, it overshadowed another big change: Getting rid of the traditional Big Oil corporate structure split between refining and production.Those changes are now pressing ahead as Chief Executive Officer Bernard Looney, in a memo sent to staff on May 14, said his new leadership team

Petrobras to auction off 3 production platforms

May 25, 2020

| Archives

Petrobras will hold an electronic international auction in July to dispose of three semi-submersible platforms that operated in the Campos Basin. The units in question are platforms P-7, P-12 and P-15. The virtual bidding is scheduled for July 9 and will take place on the auctioneer João Emílio’s website. The information was released in the Federal Official

Rig Lynx Weekly Rundown – Top 5 from week 21

May 25, 2020

| Weekly Rundown

Happy Memorial Day! This past week we had 4k page views and the top 5 grabbed up 1.7k of them, below are our top 5 articles for the week of May 17 – May 23! Everyone stay safe and healthy out there #1 with 543 Views Operators suspend drilling in Angola #2 with 454 views Total walks away from deal with Oxy assets in Ghana

Odfjell’s Deepsea Stavanger to remain idle in Norway due to COVID 19 restrictions

May 23, 2020

| Archives

Due to ongoing restrictions related to the coronavirus (COVID-19) pandemic, Odfjell Drilling and Total South Africa have agreed that the semi-submersible Deepsea Stavanger will remain idle in Norway for a period prior to the mobilisation of the rig. Odfjell Drilling will be compensated by Total during this idle time. Once the idle period is complete, the rig will mobilise

Oil posts longest run of gains in more than a year

May 23, 2020

| Archives

Oil posted its longest streak of gains in more than a year, buoyed by output cuts across the globe that have whittled away at a stubborn supply glut. Futures climbed 1.3% in New York. U.S. supply data showed crude inventories fell for a second week after climbing steadily since January and stockpiles at the storage hub at Cushing,

Archer bags multi-well P&A contract for the Archer Topaz

May 23, 2020

| Archives

Archer announced its formal contract award for provision of modular drilling unit and associated services by TAQA. “We are delighted with the award of this contract which secures the rig work until late 2023.” said Dag Skindlo, Chief Executive Officer of Archer. Archer’s rig has been contracted by TAQA to perform a twenty-one well plug and abandonment campaign for their

North America Rig Count: U.S. down 21 and Canada down 2

May 23, 2020

| Weekly Rig Count

Baker Hughes Rig Count: U.S. -21 to 318 rigs U.S. Rig Count is down 21 rigs from last week to 318 with oil rigs down 21 to 237, gas rigs unchanged at 79, and miscellaneous rigs unchanged at 2. U.S. Rig Count is down 665 rigs from last year's count of 983, with oil rigs down 560, gas rigs

Author: Admin

BPC replaces Seadrill with Stena DrillMax Ice for Exploration in Bahamas

Low oil prices will take demand beyond pre-crisis highs experts say

ASEAN SHIPCARE, taking the hard work out of preserving your assets

BP Scales Back Management

Petrobras to auction off 3 production platforms

Rig Lynx Weekly Rundown – Top 5 from week 21

Odfjell’s Deepsea Stavanger to remain idle in Norway due to COVID 19 restrictions

Oil posts longest run of gains in more than a year

Archer bags multi-well P&A contract for the Archer Topaz

North America Rig Count: U.S. down 21 and Canada down 2

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