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Cenovus to sell Alberta assets to Headwater Exploration

November 10, 2020
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Cenovus Energy Inc. through a wholly owned partnership, has entered into a definitive agreement to sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc. for initial cash and common share equity consideration of approximately $100 million. Total consideration paid to Cenovus consists of $35 million in cash and 50 million common shares of

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Shell to cut over 500 jobs from Singapore refinery

November 10, 2020
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Royal Dutch Shell will halve crude processing capacity and cut jobs at its Pulau Bukom oil refinery in Singapore as part of an overhaul to reduce its carbon emissions. The refinery on Pulau Bukom, a small island in the Southeast Asian city-state, can process 500,000 barrels per day (bpd) of oil and is Shell’s largest wholly owned refinery

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Update on Aker Solutions merger with Kvaerner

November 9, 2020
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Reference is made to the previous stock exchange announcements made by Kværner ASA ("Kvaerner") regarding the contemplated merger with Aker Solutions ASA ("Aker Solutions") as further set out in the merger plan dated 17 July 2020 (the "Merger"). The Merger contemplates that Aker Solutions will absorb all the assets, rights and obligations of Kvaerner and that Kvaerner is dissolved. Kvaerner

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Noble preparing to emerge from bankruptcy

November 9, 2020
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Noble Corporation plc announced Friday that it has changed its name to Noble Holding Corporation plc to allow the ultimate parent company that emerges from the Chapter 11 reorganization to use the name “Noble Corporation plc.” The temporary name change relating to the ultimate parent entity will not affect current shareholders, and no action by shareholders is

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Citi cuts 2021 oil price outlook on COVID-19 concerns

November 9, 2020
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Citi Research on Monday cut its 2021 oil price forecasts after a larger-than-expected rise in COVID-19 cases but said tighter supply from OPEC and its allies would still lead to a gradual uptick in prices next year. Citi cut its 2021 Brent and West Texas Intermediate crude price outlook by $5 to $54 and $49 respectively. It forecast

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India to be key driver of global oil demand in coming decades

November 9, 2020
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India’s fuel demand has almost recovered to pre-COVID-19 levels and the nation will experience the fastest growth in energy consumption among all large economies in the coming decades, oil minister Dharmendra Pradhan said on Monday. In October local sales of gasoline, gasoil and cooking gas in India, the world’s third biggest oil consumer and importer, rose from year-ago

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Greenland eyes offshore exploration targets

November 6, 2020
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Since the last exploration drillings some years back, the Government of Greenland has been working on a new oil strategy that reduces geological uncertainty and allowing first movers a very attractive investment package. Promising areas While there has been silence around exploration of oil and gas in Greenland for some years, the Oil and Gas Department under the Government of Greenland

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Shell closing Convent, Louisiana, refinery

November 6, 2020
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Royal Dutch Shell said on Thursday it was closing its refinery in Convent, Louisiana, the largest such U.S. facility and first on the U.S. Gulf Coast to shut down since the coronavirus pandemic devastated worldwide demand. The shutdown will occur this month after Shell failed to find a buyer. The refinery is the ninth in North America targeted for

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JDC lands 18 month contract plus 2 one year extension options for the Hakuryu 14

November 6, 2020
| Archives

Japan Drilling Co., Ltd. (JDC) is pleased to announce that its subsidiary company in Indonesia together with a local shipping company have entered into a drilling contract with PT Pertamina Hulu Mahakam for the provision of a jack-up drilling rig "HAKURYU-14". The main terms of the drilling contract are as follows: 1. Operating Area: Mahakam Block, offshore Indonesia 2. Period

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Apache announces 3rd quarter results and plans for 5th Suriname well

November 5, 2020
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Apache announces 3rd quarter results and plans for 5th Suriname well and the key takeaways are below: Upstream capital investment significantly below guidance in the third quarter; reduced full-year 2020 capital outlook to $1.0 billion Increased estimated annual run-rate cost savings associated with organizational redesign to $400 million from $300 million Reported third-quarter production of 445,000 barrels of oil equivalent

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