Decommissioning is expected to assume greater significance in Thailand’s oil and gas industry as the kingdom enters its fourth decade as a producer. Ageing infrastructure, particularly those located in the Gulf of Thailand, and a gradual depletion of petroleum resources could nudge the sector to take the first steps towards dismantling some of these installations…. Read more »
Monthly Archives: September 2016
US Crude Up On Demand Hopes; Brent Down On OPEC Deal Skepticism
NEW YORK, Sept 20 (Reuters) – U.S. oil prices edged up on Tuesday on hopes the planned restart of country’s main gasoline pipeline after a leak more than a week ago will boost demand, while Brent slipped amid skepticism over a proposed deal to freeze production. Both benchmarks hit six-week lows earlier on the day… Read more »
Anadarko Goes Deeper in GOM with $2B Deal
Anadarko Petroleum Corp. is diving even further into deepwater Gulf of Mexico with a $2 billion acquisition of assets from Freeport McMoran Inc., the company announced Monday. The deal, effective Aug. 1, will be immediately accretive, Anadarko CEO Al Walker, said in a news statement. It is expected to close by the end of the… Read more »
At $500 Million A Pop, It’s An Oil Gamble That Has No Precedent
In a far corner of the Caribbean Sea, one of those idyllic spots touched most days by little more than a fisherman chasing blue marlin, billions of dollars worth of the world’s finest oil equipment bobs quietly in the water. They are high-tech, deepwater drillships — big, hulking things with giant rigs that tower high… Read more »
Shell starts up Stones in the ultra-deepwater Gulf of Mexico
HOUSTON – Shell has started production from the Stones development in the Gulf of Mexico. Stones is expected to produce around 50,000 boe/d when fully ramped up at the end of 2017. The host facility for the world’s deepest offshore oil and gas project is the FPSO Turritella. It is the thirteenth FPSO in Shell’s global deepwater portfolio and produces… Read more »
Why oil prices are going up – and will continue to go up
Oil prices are going up as oil supply and demand are approaching a more balanced situation, writes geophysicist Jilles van den Beukel. And they will continue to go up as supply is expected to fall below demand in the 2018-2020 period. The key factor in supply reduction is that cost cutting is leading to higher… Read more »
