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Cambodia Terminates Petroleum Agreement for CPHL-Held Offshore Block D

April 29, 2016

irach Energy Ltd. referred Thursday to its annual report dated April 1, and full year results announcements dated Feb. 29 and March 23; as well as the announcement dated Aug. 6, 2015 in relation to Cambodia Offshore Block D (Block D), held by our associate company CPHL (Cambodia) Co. Ltd. (CPHLC). We had subsequent to… Continue Reading »

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Oilfield umbilical market growth driven by deep sea activities at 3.66% CAGR to 2021

April 29, 2016

The market for umbilical is forecast to grow at a CAGR of approximately 3.66% during 2016 – 2021, on account of increased deep sea activities for discovering new oil and gas fields along with rise in production from existing offshore reservoirs, according to a new report titled “Global Umbilical Market (By Type, By Region, By… Continue Reading »

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Falcon Outlines Drilling Plans for its Australia’s Beetaloo Basin Assets

April 29, 2016

Ireland’s Falcon Oil & Gas Ltd. provided Thursday the following technical and operational update for its operations in the Beetaloo Basin, Northern Territory, Australia. 2015 Drilling Program – Technical Results The results from the in-depth shale evaluation program and petrophysical analysis of the three wells drilled in 2015 confirm the following: The Middle Velkerri and… Continue Reading »

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Sources: Saudis To Push Oil Output Higher But Won’t Flood Market

April 29, 2016

RIYADH, April 29 (Reuters) – Saudi Arabia’s oil output will edge up close to record highs in coming weeks to meet summer demand for power but is unlikely to be pushed to the limit and flood global markets, Saudi-based industry sources said. Production may rise to around 10.5 million barrels per day (bpd) during summer,… Continue Reading »

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Kemp: Rising Oil Prices Throw Lifeline to Shale Producers

April 29, 2016

Brent prices for 2017 ended trading above $50 per barrel on Wednesday for the first time since mid-December following the largest and most sustained rally in prices since the oil slump started. The average for the 12 futures contracts expiring in 2017, called the calendar strip, has risen by 34 percent from its recent low… Continue Reading »

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Top Oil Service Firms Mull North America Retreat As Losses Mount

April 28, 2016

(Bloomberg) — Two of the three largest oil rig operators and frackers are considering pulling back from the North American market as losses mount. Schlumberger Ltd. — after posting its first North American operating loss since at least the turn of the century, according to Barclays Plc — is evaluating whether it’s worth temporarily shuttering… Continue Reading »

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The Underwater Centre Adds New Modules to Diving Courses

April 28, 2016

The Underwater Centre has added new modules to its commercial air diving courses. The ‘Premium’ and ‘Construction’ diver training packages will now include commercial enriched air nitrox course, MJI 21 hydraulically tensioned subsea bolted connections course, IMCA diver medic training (DMT) and IMCA assistant life support technician (ALST) training. Steve Ham, The Underwater Centre’s Commercial Director, said: “These courses are… Continue Reading »

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Atlas Oil Company chooses the FuelNOW Network for real time fuel delivery insights

April 28, 2016

Atlas Oil Company is excited to announce its newest investment in the FuelNOW Network (FNN), a cloud-based platform that automates the supply chain and streamlines the fuel delivery process. Utilizing FNN, Atlas has complete visibility into key delivery metrics and accurate business insights that can be accessed from any device, at any time day or… Continue Reading »

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Subsea Global Solutions Sets Up Texas Office

April 28, 2016

Subsea Global Solutions (SGS), an underwater repair, maintenance and marine solutions provider, has opened a new office in Texas. The office, in Webster, Texas, near Houston, should put SGS in a good position to support demand for its services on the Gulf Coast, and in the Houston and Galveston areas. SGS said that the newly set up base would provide trained… Continue Reading »

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