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Shell, Eni face $1.1-billion Nigerian lawsuit over 2011 oil deal

December 14, 2018
| Archives

The government of Nigeria is suing Royal Dutch Shell Plc, Eni SpA and other companies for more than $1 billion over a 2011 oil deal it says was tainted by corruption. The suit, filed Wednesday in London, alleges that money the companies paid to acquire an oil exploration license in the Gulf of Guinea was diverted to bribes and

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Noble Drilling’s fleet status update full of goodies

December 14, 2018
| Archives

Noble Drilling or www.noblecorp.com issued it’s fleet status report here and there are some surprising updates: Sam Croft, a 2014 model GustoMSC P10000 drillship: 1Q2019 to 2Q2019, with operatos W&T Offshore, US GOM and mid-2019, operator not disclosed, South America Tom Prosser, a 2014 model F&G JU-3000N jackup: March/April 2019 to October 2019, with operator Santos. November

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ADES lands a 7 year contract with extensions for the Admarine 657

December 13, 2018
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(London & Dubai, 13 December 2018) ADES International Holding Ltd. (“ADES†or the “Groupâ€), a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), is pleased to announce that it has successfully renewed an existing contract for Admarine 657 (an ultra-shallow offshore rig previously acquired in June 2018). The renewal for

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Norway’s PSA tell Drillers to beef up evacuation equipment after breach in regulation noticed

December 13, 2018
| Archives

OSLO (Reuters) – Norway’s Petroleum Safety Authority (PSA) has told Transocean, Maersk Drilling and Odfjell Drilling to beef up emergency evacuation equipment and procedures on offshore oil rigs, it said on Wednesday. Drilling rigs are equipped with enclosed lifeboats that can be dropped into the ocean in an emergency and owners must meet a series of technical and

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Total gains exploration acreage in Mauritania

December 13, 2018
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Total and the Ministry of Petroleum, Energy and Mines of Mauritania have signed an agreement awarding Total two new exploration and production contracts for Blocks C15 and C31deep offshore Mauritania,covering an area of 14,175 square kilometers. According to the terms of the contracts, Total will be the operator of these two blocks with a 90% interest alongside the

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Citi Forecasts Oil Goes Nowhere in 2019

December 12, 2018
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Citi believes international oil prices will average $60 a barrel in 2019, remaining near current levels as OPEC-led production cuts encourage U.S. drillers to put more oil on the market. OPEC, Russia and other producers agreed on Friday to remove 1.2 million barrels per day from the market beginning in January. The move follows a more than 30-percent

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Total ready to spud in French Guyana

December 12, 2018
| Archives

Total is ready to start its exploration campaign on the Guyane Maritime license, located 150 kilometers off the French Guyana coast, in the days following the arrival of the drilling ship on site, as authorized by the prefectoral decree dated October 22, 2018. Conscious of the questions that this campaign could raise, Total wishes to highlight that it

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History- Hybrid Vehicles Are Not A New Thing

December 11, 2018
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December 13, 1905 – Hybrids evolve with Gas Shortage Fears An early hybrid, this 1902 Porsche used a gas engine to generate electricity to power motors mounted on the front wheel hubs. “The available supply of gasoline, as is well known, is quite limited, and it behooves the farseeing men of the motor car industry to look for likely

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‘This Too Shall End’: Loews CEO Sees Oil Back at $75 in Two Years

December 11, 2018
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Bloomberg- While oil prices remain stubbornly low despite a pledge by OPEC to curb global output, the head of one U.S. conglomerate is eyeing a rebound that’ll bring crude back to $75 a barrel. “What we’ve seen this year is a dramatic increase in production,†Jim Tisch, chief executive officer of Loews Corp., which bought the rest of Boardwalk

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Northern Drilling Exercises Extension Option for Cobalt Explorer

December 10, 2018
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Northern Drilling Limited (OSE: NODL) (together with its subsidiaries, the “Companyâ€) is pleased to announce that it has agreed to extend the Cobalt Explorer option for approximately four months against a down-payment of $12 million. The $12 million will be deducted against the first instalment of $105 million should the option be exercised. Following this amended agreement

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