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Oil Buyers’ Club talks? | OutPut by Rig Lynx

July 5, 2018
| Archives

When reports emerged that India and China are in talks about forming an oil buyers’ club, OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. Now, it may be time for it to start worrying. “The timing is right. The boom in U.S. oil and gas production gives us greater

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Oil and gas top the list for United States’ leading accomplishments at 242 years of age | OutPut by Rig Lynx

July 4, 2018
| Archives

How did the United States, at 242 years of age, become the new world leader in oil and gas production and at the same time, the new world leader in reducing carbon emissions? In part because of the U.S.’s two other new accomplishments in the energy sector, according to the executive director of the International Energy Agency. According to IEA’s Fatih Birol, the United

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Trinidad in 5 year, 2 rig deal for Kuwait | OutPut by Rig Lynx

July 4, 2018
| Archives

CALGARY, June 28, 2018 /CNW/ – Trinidad Drilling Ltd. (TSX: TDG) (“Trinidad†or “the Companyâ€) is pleased to announce an award in Kuwait for two Trinidad Drilling International (TDI) joint venture rigs on a five-year contract. Trinidad expects that the joint venture rigs will begin operating by late in the first quarter or early in the second quarter of 2019. The contract has five-year,

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ROC signs up Naga 4 to 11 well deal

July 3, 2018
| Archives

The company, formerly known as UMW Oil & Gas, on Tuesday said its subsidiary Velesto Drilling received a Letter of Award from Roc Oil for a contract on the provision of a jack-up drilling rig for its D35 Phase 2 Infill Drilling Program. Velesto will assign its NAGA 4 jack-up unit for this contract. NAGA 4 is a

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Egypt oil and gas trading hub, backed by the World Bank? | OutPut by Rig Lynx

July 3, 2018
| Archives

The World Bank supports Egypt’s efforts to be a regional oil and gas trading hub, as several new gas projects started up recently in the Mediterranean country, the Egyptian Ministry of Petroleum said on Monday. World Bank Executive Director Merza Hasan is visiting Egypt and holding talks with Egypt’s Petroleum Minister Tarek El-Molla on cooperation between the World Bank and

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Refineries in US throw the throttle back | OutPut by Rig Lynx

July 3, 2018
| Archives

U.S. refiners have returned from maintenance with a vengeance, processing more than 18 million barrels a day of crude and other oils for the first time in the week ended June 22. What does that mean for the markets? Gasoline stockpiles have increased 2.9 percent in June, the biggest gain for the month since 2009. There’s enough supply

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8 Million barrels in tankers held offshore for as long as two months is rare | OutPut by Rig Lynx

July 2, 2018
| Archives

Four BP-chartered supertankers containing a total of 8 million barrels of oil have been held up off China’s east coast over the past two months, in a sign that slower demand from independent refiners may have caught traders off guard, Reuters reported on Friday, citing shipping data and trading and shipping sources. BP was one of the first Western oil

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