(Bloomberg) — Asia is still snapping up cheap Russian oil that European buyers don’t want. Seaborne exports of the nation’s crude rebounded in the seven days to April 22. One-fifth of the volume shipped from ports on the Black Sea, Baltic and Arctic coasts is on tankers showing no final destination, with most expected to end up in Asia....
The National Ocean Industries Association (NOIA) announced that TechnipFMC and Aker Solutions are the winners of the 2022 NOIA Safety in Seas Awards competition. TechnipFMC is the 2022 NOIA Safety in Seas Culture of Safety Award winner and Aker Solutions is recognized for the 2022 NOIA Safety in Seas Safety Practice award. The Culture of Safety...
(Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of new investment. The U.S. and European countries are planning liquefied natural gas terminals that wil...
(Bloomberg) — Shale explorers in the Permian Basin chewed further into their supply of ready-made wells for a 20th straight month, leaving the smallest inventory of low-cost wells in the biggest U.S. oil field in more than half a decade. The number of wells that have been drilled and await a frac crew to complete them, also known as DUCs, stoo...
(Bloomberg) — Kazakhstan expects its main oil-export route via Russia to restore full operations in late April, but remains concerned about the possible impact of Western sanctions or shipping problems on the flow of crude, said Energy Minister Bolat Akchulakov. The Black Sea shipping terminal for the Caspian Pipeline Consortium halted loading...
The North Sea Transition Authority (NSTA) has reminded licensees of the obligation to collaborate effectively and ensure transactions are completed promptly, to support investment in the UK Continental Shelf (UKCS). Following an NSTA investigation into Esso’s sale to NEO of interests in 13 producing fields – including the Elgin Franklin fiel...
Halliburton Company today introduced , a deep azimuthal resistivity service that provides multilayer visualization to maximize well contact with the reservoir and improve real-time reserves evaluation. The StrataStar service is the latest addition to Halliburton’s , which combines deep subsurface insights with artificial intelligence...
(Bloomberg) — Murphy Oil Corp. has begun producing oil from a new deepwater Gulf of Mexico project, months ahead of schedule. The offshore and shale oil producer on Tuesday said its King’s Quay floating production platform started generating oil from the first two wells in the Khaleesi, Mormont and Samurai fields off the coast of Louisiana....
Crude oil production in the U.S. has recovered considerably from the lows seen during the first wave of the COVID-19 pandemic and the brief price war between Saudi Arabia and Russia, says GlobalData, a data and analytics company. The country produced approximately 11.5 million barrels per day (MMbpd) of crude oil in February 2022, a 19% gain ove...
(Bloomberg) — Shell Plc said its withdrawal from Russia will result in $4 billion to $5 billion of impairments, while also warning investors that extreme energy price volatility in the first quarter could hit cash flow. The statement from the London-based giant shows that, despite a surge in oil and gas prices, Russia’s invasion of Ukr...