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Category Archives: News

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BG Takes Over Operational Control of QCLNG Plant in Australia from Bechtel

May 27, 2015

BG Group announced Thursday that operational control of Train 1 at its Queensland Curtis LNG (liquefied natural gas) plant in Australia has been formally transferred to QGC, BG Group’s Australian subsidiary, from Bechtel Australia, which constructed the facility. In addition, the Company announces that approval for the sale of its QCLNG gas pipeline has been… Continue Reading »

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Man Sentenced for False Statement on BOP Testing in GoM

May 27, 2015

The United States Attorney’s Office for the Eastern District of Louisiana announced that Race Addington, 49, of Houston, was sentenced for making false statements to agencies or departments of the United States in relation to the veracity of blowout preventer testing on an offshore oil and gas platform in the Gulf of Mexico. U.S. District… Continue Reading »

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BP Settles Oil Spill-Related Claims With Halliburton, Transocean

May 24, 2015

BP Plc has settled with oilfield services provider Halliburton Co and contract driller Transocean Ltd cross claims related to the 2010 Gulf of Mexico oil spill, the worst offshore disaster in U.S. history. BP still faces a potential fine of up to $13.7 billion under the U.S. Clean Water Act. Transocean, which owned the Deepwater… Continue Reading »

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Petrobras Turns to China for $10 Billion to Avert Crunch

May 23, 2015

What do you do when you’re burdened with the oil industry’s biggest debt, credit is drying up and some of your main suppliers are under the gun? Call China. Brazilian President Dilma Rousseff’s strategy of turning to fellow BRIC member China to finance the country’s prized state-controlled oil company is paying off as she and… Continue Reading »

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Oceaneering Sheds Norway Staff

May 23, 2015

Oil services company, Oceaneering, is reportedly laying off employees in Norway as the company faces general decline in activity. According to Sysla.no, Oceaneering’s Erik Sæstad has confirmed that 100 new employees must leave the company, following the earlier reports on job cuts in Oceaneering Asset Integrity when 30 workers were laid off. While the majority of staff reductions at… Continue Reading »

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Minesto Gets Welsh Govt Funding for Deep Green

May 22, 2015

Marine energy company Minesto has been awarded a 13 million Euros investment from the European Regional Development Fund through the Welsh Government. The funding is part of the commercial roll out, including the establishment of Minesto UK Headquarters in North Wales and commissioning of the first commercial Deep Green power plant. The EU funds will support… Continue Reading »

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Top Oil Execs, Cash-Rich Funds Team Up To Buy UK North Sea Assets

May 18, 2015

High-profile oil and gas executives are teaming up with private equity funds seeking to invest billions in British North Sea assets and maximize profits by cutting costs, offering the ageing basin a badly needed lifeline. With an estimated $10 billion in their war chests, large funds including Riverstone Energy, Carlyle Group and Blackstone are in… Continue Reading »

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IEA: Oil Glut Worsens As OPEC Market-Share Battle Just Beginning

May 14, 2015

A global oil glut is building as OPEC kingpin Saudi Arabia pumps near record highs in an attempt to win a market-share battle against stubbornly resistant U.S. shale production, the International Energy Agency (IEA) said on Wednesday. The West’s energy watchdog said in a monthly report that although higher-than-expected oil demand was helping to ease… Continue Reading »

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Saudi, Kuwait to Shut Joint Oilfield for 2 Weeks – Kuwaiti Source

May 13, 2015

A jointly operated onshore oilfield between Saudi Arabia and Kuwait will shut for two weeks of maintenance, a Kuwaiti industry source said on Monday, a move apparently aimed at giving the Gulf OPEC allies more time to solve a long-standing dispute. The scheduled closure of the Wafra onshore oilfield, operated by a Saudi Arabian division… Continue Reading »

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Gazprom: Turkish Stream Online in Dec 2016

May 11, 2015

Ankara has hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Taner Yildiz, Minister of Energy and Natural Resources of the Turkish Republic. Alexey Miller and Taner Yildiz addressed the issues of Russian gas supplies to Turkey, upgrade of the Blue Stream gas pipeline and execution of the project for a… Continue Reading »

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