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Global Offshore Rig Count in June Falls to 208. Africa Suffers the Biggest Loss

Jul 02, 2020

The global active offshore drilling rig count for June 2020 was lower by 65 units, compared to June 2019, Baker Hughes' monthly rig count report has shown.Latin America was the only region that saw its offshore rig count rise, Europe and North America saw their numbers halved, but the biggest „loser“ was Africa, with only three offshore rigs active in June.The worldwide active rig count in June was 208…

Saudi Aramco Suspends Seadrill's AOD II Jack-Up Rig

Jun 30, 2020

Saudi oil giant Saudi Aramco has suspended the contract for the Seadrill co-owned jack-up drilling rig AOD II.The rig has an $89,900 a day contract with Saudi Aramco in Saudi Arabia running until April 2023. The contract was signed in April 2020…

Schlumberger Introduces Remote Well Op and Downhole Reservoir Testing Tech

Jun 30, 2020

Oilfield services giant Schlumberger has this week introduced two interesting technologies for remote well operations and downhole reservoir testing, the Performance Live and the Symphony, respectively.Performance Live is a digital service that optimizes remote well site operations control…

OPEC Production in June Cut by 1.25 mbpd

Jun 29, 2020

OPEC has cut oil output in June by 1.25 million barrels per day (bpd) from May levels as it works to implement a supply restraint agreement with Russia and other allies, according to estimates from tanker-tracking company Petro-Logistics.OPEC and its allies…

Brent Crude Rises to Above $42 a Barrel

Jun 19, 2020

Oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and signs of demand, hit by the coronavirus crisis, recovering.Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday…

Saudi Aramco Suspends Shelf Drilling Jack-Up Rig

Jun 15, 2020

Saudi oil giant Saudi Aramco has decided to suspend a contract with Shelf Drilling for the High Island IV jack-up drilling rig.The offshore drilling contractor said Monday it had received a notification from 'a customer' on the suspension of…

Seafox's Push to Appoint Directors to GMS Board Rejected

Jun 12, 2020

Dutch offshore jack-up company Seafox has had its push to appoint two directors to the board of the UAE-based jack-up provider Gulf Marine Services, rejected.Seafox, a shareholder at GMS, on Thursday said it had written to Gulf Marine Services…

One Person Dies as Fire Breaks Out at Kuwait Oil Field Drilling Tower

Jun 12, 2020

A fire erupted at a drilling tower in Kuwait's northern Sabriyah oil field, killing one person and injuring another, state-owned Kuwait Oil Company (KOC) said in a statement on its twitter account on Thursday.The incident, which happened early on Thursday…

LOC Completes MWS Work for Qatargas' North Field Bravo Project

Jun 10, 2020

Marine and engineering consulting firm LOC Group has recently completed Marine Warranty Surveyor work for the Qatargas North Field Bravo Expansion Project, offshore Qatar.The scope of work included the review of the engineering and procedures for the design…

Oil Prices Rise on OPEC+ Cuts. Brent at $42,8

Jun 08, 2020

Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July and as China's crude imports hit an all-time high in May.Brent crude was up 51 cents, or 1.2%, at $42.81 per barrel, by 0628 GMT, while U…

OPEC, Russia Extend Record Oil Cuts

Jun 07, 2020

OPEC, Russia, and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market…

Saudi Arabia, Russia Reach Deal on Oil Output Cut Extension

Jun 03, 2020

OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil production cuts by one month while raising pressure on countries with poor compliance to deepen their output cuts, OPEC+ sources told Reuters…

Oil Gains, with Brent above $40

Jun 03, 2020

Oil rose on Wednesday, with Brent above $40 for the first time since March, as optimism mounted that major producers will extend output cuts and a recovery from the coronavirus pandemic will spur fuel demand.Brent crude futures for August were up 78 cents…

Iraq to Further Cut Oil Output

Jun 02, 2020

Iraq will further cut its oil output and remains committed to the OPEC+ deal, finance minister and acting oil minister Ali Abdul Ameer Allawi said on Twitter.OPEC and its allies such as Russia are due to decide later this month whether to extend record oil cuts they approved in April…

Oil Prices Rise Ahead of OPEC+ Meeting on Further Output Cuts

Jun 02, 2020

Oil prices rose on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a virtual meeting expected later this week.Brent crude futures rose 0.91%, or 35 cents, to $38.67 a barrel as of 0427 GMT…

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