(Bloomberg) – Saudi Arabia will make an extra 1 MMbpd oil supply cut in July, taking its production to the lowest level for several years after a slide in crude prices. The bold move by the most important member of the OPEC coalition came at the cost of ceding ground to two key allies: Russia, which made no commitment to cut output deeper...
(WO) – Key research shared by the Offshore Energy Digital Strategy Group (OEDSG) at an OEUK- hosted webinar reveals digitalization across the oil and gas and renewable energy sectors is gathering momentum. The 2023 Offshore Energy Digital & Data Maturity Survey report aims to deepen understanding of how organizations are applying data and d...
(WO) – Equinor reported that a gas leak that occurred at the Hammerfest LNG plant at Melkøya on May 31 has been stopped and normalization is under way. Equinor’s emergency response organization has been demobilized, and the emergency services have left Melkøya. The gas leak occurred in connection with a valve in one of the plant’s coo...
(WO) –ADNOC announced new agreements with more than 60 UAE-based and international companies to locally manufacture critical non-oil products in its supply chain at the Make it in the Emirates Forum in Abu Dhabi. The new agreements bring ADNOC closer to its target to locally manufacture AED70 billion ($19 billion) worth of products in its procure...
(Bloomberg) – Denmark will take stakes of 20% in new offshore wind projects, copying a successful setup used for oil licenses in the previous decades. The model will cover 6 gigawatts of tenders planned around the Nordic country, according to a statement late Tuesday from the energy ministry in Copenhagen. The country of roughly 6 million p...
(WO) – Kolibri Global Energy Inc. has successfully drilled and cased the first three wells of its 2023 drilling program in its Tishomingo oil field in Oklahoma. All three wells were successfully drilled under budget and into their targeted formations. The Barnes 8-1H and 8-2H wells are in the Caney formation, and the Barnes 8-3H is in the T...
(WO) – Neptune Energy announced first production from its operated Adorf Z17 natural gas well in the municipality of Georgsdorf, Northwestern Germany. The Z17 well - in the Carboniferous formation - is expected to increase Neptune’s production from the Adorf license by 1,800 boed to around 6,300 boed. Construction of a dedicated processin...
(WO) – Aker BP is nearing completion of drilling the Øst Frigg Beta/Epsilon exploration well, situated in the Yggdrasil area of the Norwegian North Sea. The well has resulted in a significant oil discovery. Preliminary estimates indicate a gross recoverable volume of 40-90 MMboe, surpassing the previously communicated pre-drill estimate of...
(WO) –BiSN, the global provider of Wel-lok sealing solutions, has achieved a significant milestone by reaching 400 commercial deployments of its Wel-lok technology. BiSN’s patented technology is revolutionizing the oil and gas industry by enabling bismuth-based seals that are more reliable, durable, and cost-effective than traditional sealing m...
(WO) – Pompano Resource Transformation, a wholly-owned subsidiary of XMC Strategies, has acquired a Gulf Coast oil asset, including 33 operated oil wells, from Paloma Natural Gas, LLC, which is owned in part by Houston-based private equity firm EnCap Investments. Pompano is the acquisition arm of XMC Strategies and run by Catherine Flax. ...