Monthly Archives: May 2017

(Bloomberg) — Saudi Arabia and Russia are at odds on pretty much everything: the war in Syria, policies on Iran, ties with Washington. But when it comes to propping up global oil prices, they’ve never been more aligned. Just look at how the world’s two biggest oil producers united last week to tell markets they… Read more »

Schlumberger has signed a memorandum of understanding with Saudi Aramco to develop an In-Kingdom Total Value Add roadmap, which includes the creation of jobs and enables development opportunities for Saudis in oil and gas services and related sectors. The roadmap also strengthens the deployment of Schlumberger technology, reduces regional delivery times for key products and… Read more »

(Bloomberg) — Drilling rigs and roughnecks are hot commodities once again across the Montney shale formation in northern British Columbia and Alberta, and companies like Grimes Well Servicing Ltd. are having a hard time keeping up with demand. That’s because the Montney, unlike many parts of Canada’s oil and gas region, is seeing a surge… Read more »

In this May 16, 2017 photo released by China’s Xinhua News Agency, workers celebrate the successful trial extraction of natural gas from combustible ice trapped under the seafloor on a drilling platform on the South China Sea. Commercial development of the globe’s vast reserves of a frozen fossil fuel known as combustible ice has moved… Read more »

ConocoPhillips completed its previously announced transaction with Cenovus to sell its 50 percent nonoperated interest in the Foster Creek Christina Lake (FCCL) oil sands partnership, as well as the majority of its western Canada Deep Basin gas assets. ConocoPhillips Canada retains its operated 50 percent interest in the Surmont oil sands joint venture and its… Read more »

LONDON, May 18 (Reuters) – Britain’s Conservative Party will introduce legislation to support shale energy development and impose a household energy tariff cap if it is re-elected in June, its election policy document showed on Thursday. The Conservative government pledged last month to cap standard variable tariffs, responding to voter discontent about energy bills which… Read more »

As the gas glut continues to build in the Marcellus and Utica plays of the Northeast, pipelines and other infrastructure needs are becoming perhaps even more valuable a commodity. Capacity is currently set at 9.04 billion cubic feet per day (Bcf/d), but is expected to climb to 14.2 Bcf/d by 2020, said analysts at East… Read more »

The Peregrino Phase II field development will access new acreage out of reach of its current two wellhead platforms and floating production, storage, and offloading vessel. The contract was let in June 2016 (OGJ Online, June 28, 2016). According to Heerema Fabrication Group, the 8-legged jacket will include a wellhead platform with a drilling unit… Read more »

ONITSHA, Nigeria, May 16 (Reuters) – Nigerian workers from an oil labour union have extended a strike to oil majors Chevron , Shell and Eni subsidiary Agip in protest over the sacking of members from Exxon Mobil Corp , the union’s general secretary said on Tuesday. Nigerian labour unions have held a number of strikes… Read more »

The UK Labour party has pledged to safeguard the offshore oil and gas industry and ban fracking in its 2017 manifesto, released Tuesday. In order to protect the former sector, Labour said it will “provide a strategy focused on protecting vital North Sea assets, and the jobs and skills that depend on them”. The reason… Read more »