The world’s first 100,000-ton deepwater semi-submersible production and storage platform, which is built to ABS Class, has been launched in China.China National Offshore Oil Corporation (CNOOC) will now begin installation and commissioning on the China-built platform - named “Deep Sea No. 1” - which is a key component of the Lingshui 17-2 Gas Field Development Project.The Lingshui field has an average water depth of 1…
Premier Oil has completed a farm down of interest in the Tuna production sharing contract (PSC), offshore Indonesia to Russia's Zarubezhneft. The UK-based company that will soon merge with rival Chrysaor, said Tuesday the transaction completion came after receipt of Indonesian government approval…
Indonesia said its coast guard seized the Iranian-flagged MT Horse and the Panamanian-flagged MT Freya vessels over suspected illegal oil transfer in the country's waters on Sunday.Coast guard spokesman Wisnu Pramandita said the tankers, seized in waters off Kalimantan province…
Japanese trading house Sumitomo Corp will stop investing in new oil development projects as it shifts away from fossil fuels businesses amid a global push to cut greenhouse gas emissions, the Nikkei business daily reported on Sunday.The move…
Australia’s Woodside Energy sees the liquefied natural gas (LNG) market tightening this year, with demand growing especially in Asia, after prices were battered by a supply glut in 2020, its chief executive said on Thursday.LNG supply in 2021 will be partly tighter as Woodside…
Abu Dhabi-based oil and gas company Mubadala Petroleum has acquired a stake in an offshore block in Egypt. Mubadala said Thursday that Tariq Al-Mulla, Egyptian Minister of Petroleum and Mineral Resources, had signed the concession agreement…
Malaysian oil firm Petronas Carigali has extended a subsea inspection services contract with Tanjung Offshore, a subsidiary of T7 Global.T7 Global said Tuesday that the contract extension, signed in December, was for the provision of underwater inspection services using mini-ROV…
China's refineries posted record throughput in 2020, processing 3% more crude oil than a year ago, as they took advantage of low prices and healthy margins on a quick rebound in domestic fuel demand from the coronavirus pandemic.Annual throughput stood at 674…
Update: Petrofac's statement included below the original articleFormer senior Petrofac Ltd executive David Lufkin pleaded guilty at Westminster Magistrates' Court on Thursday to three further bribery offenses in relation to oil deals in United Arab Emirates (UAE)…
The Trump administration added China’s CNOOC to a U.S. economic blacklist on Thursday, accusing the oil giant of helping Beijing intimidate neighbors in the South China Sea and ratcheting up tension days before U.S. President-elect Joe Biden takes office…
Mediterranean Sea-focused oil and gas company Energean has taken Final Investment Decision ('FID') on the Karish North gas development, offshore Israel.The gas discovery was announced in April 2019. In November 2020, DeGolyer and MacNaughton…
China's total crude oil imports surged 7.3% in 2020 despite the coronavirus shock early in the year, with record arrivals in the second and third quarter amid plunging oil prices and expanding refineries, data showed on Thursday.For 2020, the world's top oil buyer brought in a record 542…
Victory Elements says its newly launched water dissolvable ceramic materials for hydraulic fracturing of oil and gas wells are designed to provide performance and cost advantages compared to conventional practices including faster completion times…
Freezing temperatures across Asia and Europe are driving liquefied natural gas (LNG) prices to record highs and pushing up the cost of shipping the fuel globally as buyers grapple with tight inventories and a shortage of tankers.Demand for super…
Oil hit an 11-month high just below $57 a barrel on Tuesday, bolstered by Saudi Arabia's plans to limit supply, offsetting worries that rising coronavirus cases globally would curtail fuel demand.Brent crude settled up 92 cents, or 1.7%, at $56…
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