By Justin Smith ABERDEEN — As is the case in other offshore markets, the Northwest Europe and Mediterranean offshore oil and gas industry is feeling the effects of a slumping world economy. The price of oil has been on a roller coaster ride, taking rig demand and interest in licensing rounds with it. However, field [...]
INDONESIA — McDermott International subsidiary J. Ray McDermott S.A. has completed construction of a 14,000-tonne (13,779-ton) integrated deck built at its fabrication facility on Batam Island, Indonesia. The North Belut Central Processing Platform (NBCPP) topsides were built for ConocoPhillips Indonesia and is the third large deck that J. Ray has built at Batam. The topsides [...]
By Brett Clanton, Houston Chronicle HOUSTON — Obama administration proposals to reap more tax dollars from the foreign-earned profits of U.S. companies are not going over well in the Oil Patch. Billed as a way to make multinational corporations pay their fair share to Uncle Sam, the measures could add millions to the tax [...]
by Isabel Ordonez HOUSTON — Despite the economic crisis, Exxon Mobil Corp. is flush with cash and plans to invest at record levels this year — but its partners may have other ideas. Unlike other major producers like ConocoPhillips, the Irving, Texas, company has not cut capital investment or sought to delay projects as [...]
SHERINGHAM, UK — StatoilHydro and Statkraft joint venture Scira Offshore Energy has awarded major contracts to Siemens Energy and Master Marine related to the 315-MW Sheringham Shoal Offshore Wind Farm Project. The wind farm will be developed nine miles (17 km) off the coast of Sheringham, U.K., and is scheduled for completion in 2011. [...]
The plunging crude prices have begun to play out in favour of Western oil companies in one regard, giving them leverage with oil-rich countries that only months ago had no reason to compromise. Countries like Venezuela, Libya and Russia have kept a tight grip on their vast oil reserves in recent years as crude [...]
NEW YORK — At their annual analyst meeting today in New York last week ConocoPhillips’ senior leadership team outlined the compny’s strategic objectives and operating plans for 2009, and explained how the company will maximize the value of its asset portfolio in a challenging economic and political environment. “While we have adjusted to the [...]
by Stephen Power and Siobhan Hughes WASHINGTON — The Obama administration’s push to raise taxes on the oil industry is reigniting a battle the industry fought and won last year. Under pressure to narrow projected deficits, President Barack Obama’s 2010 budget proposal calls for raising more than $31 billion over the next decade by [...]
by Isabel Ordonez Major oil companies are looking for the solution to the work force crunch in their employees’ electronic trail. ConocoPhillips, Chevron Corp. and BP PLC are encouraging employees to use handheld computers, interactive Web pages, blogs, social networks and other media to store information on how they make crucial decisions or resolve [...]
Technip Norway has been awarded by ConocoPhillips Skandinavia AS a lump sum contract for the Ekofisk VA subsea water injection project located in block 2/4 on the Norwegian Continental Shelf. This contract provides for the installation, tie-in and commissioning of subsea facilities between the existing Ekofisk facilities and a new eight well subsea injection [...]
State oil firm Saudi Aramco will keep spending on oil and gas projects within the kingdom through 2014 at about $60 billion, a newspaper reported on Wednesday, quoting a contractor in business with the company. The top oil exporter’s five-year plan would be $10 billion cheaper than the last plan coming to completion in [...]
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